Business

At end of August 2019, overall credit growth in banking sector stood at 10.1% on a year-on-year basis.

New Delhi: 

The Punjab National Bank has started tying up with non-banking financial companies (NBFCs) for co-originating loans amounting to Rs 4,000 crore since the last two months and though the lender has not decided if it will link the deposit

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Shares of the Gurugram-based mortgage lender - Indiabulls Housing Finance - slumped as much as 38.34 per cent, its biggest intraday fall since listing in 2013, to Rs 240.15 on the BSE, also its lowest level since April 2014. The Delhi High Court accepted a public interest litigation filed against the company for alleged irregularities, violations

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On Thursday, RBI increased the withdrawal limit to Rs 10,000 for PMC Bank account-holders.

Mumbai: 

Punjab Maharashtra Cooperation (PMC) Bank did not report the financial exposure to the Reserve Bank of India (RBI) for over six years, suspended MD, Joy Thomas admitted on Friday.

"We have been doing business with HDIL since 1989. We kept it (exposure)

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On Friday, the domestic currency had closed at 70.56 against the greenback.

The rupee settled 31 paise lower against the dollar on Monday. The local currency opened on a strong note at 70.37, then lost ground and fell to an intraday low of 70.88 against the American currency. The domestic currency finally

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Petrol price has gone up by Rs 2.25 a litre while that of diesel by Rs 1.75 a litre since September 17.

Domestic petrol and diesel prices were hiked marginally on Monday after a pause of three days. With effect from 6 am on Monday, the price of petrol was at Rs 74.42 per litre in Delhi and Rs 80.08 per litre

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SBI loan: SBI said a premium of 15 basis points will be added to card rate for non-salaried borrowers.

State Bank of India (SBI), the country's largest bank, recently said that it would adopt the repo rate as external benchmark for all its floating rate-based loans from October 1. The change will impact

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Yes Bank shares ended 15.06 per cent lower at Rs 41.45.

Yes Bank shares slumped as much as 16 per cent on Monday to their lowest level recorded in 10 years on the back of heavy trading volumes. The Mumbai-based private sector lender informed the stock exchanges that it has received acknowledgment from the Reserve Bank of India to go ahead with a

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Indian Railway Catering and Tourism Corporation (IRCTC) is the e-ticketing arm of the Indian Railways

IRCTC's initial public offer (IPO) - which opened for subscription on Monday - was subscribed 81 per cent on the first day. IRCTC or Indian Railway Catering and Tourism Corporation - the online ticketing arm

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Retail onion prices have skyrocketed to Rs 60-80 per kg in Delhi.

New Delhi: 

Concerned over rising onion prices, the Centre on Sunday banned the export of the key kitchen staple and imposed a stock limit on traders to improve the domestic availability of the commodity and provide a relief to consumers. Retailers can stock onion only up to 100

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For decades, fixed deposits have been immensely popular among Indian investors, irrespective of their age and risk profile. This is because the returns on FDs are not linked to the stock markets. This results in assured returns as promised by the issuer at the time of starting the investment. However, the return and the safety of the investment

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Forever 21 Inc said it plans to exit most of its international locations in Asia and Europe

Fashion retailer Forever 21 Inc said on Sunday it has filed for Chapter 11 bankruptcy protection to restructure its business, joining a growing list of brick-and-mortar players who have taken a hit from fierce e-commerce competition. 

The company said it

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The airline plans to commence flights from New Delhi to Jaipur and Agartala.

New Delhi: 

Even as it awaits overseas flying rights, budget airline AirAsia India plans to add another 17 aircraft to its fleet in the current fiscal.

Accordingly, the airline which has about 23 aircraft will add 17 more in FY19-20.

"Having completed 5 years of flying

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Fertiliser and steel production grew by 2.9%, and 5%, respectively during the month under review.

The eight core industries in August contracted to over three-and-half year low of 0.5 per cent, due to decline in output of coal, crude oil, natural gas, cement, and electricity, according to a government data released on Monday. The eight core sector

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IRCTC is selling 2.01 crore shares and at the upper price band the company is valued at Rs 5,120 crore.

Indian Railway Catering and Tourism Corporation's (IRCTC) three-day share sale via initial public offering (IPO) opened today for subscription and will end on October 3. The IRCTC IPO is an offer for sales wherein its promoter, Government of

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Retail inflation inched up to 3.21 per cent in August but remained within the RBI's comfort level.

Mumbai: 

The RBI may cut the key policy rate again on Friday, the fifth in row, to complement the government's measures like reducing corporate tax and promoting credit offtake to spur economic activity during the festive season amid range-bound

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Currently the Reserve Bank of India is looking into the PMC Bank case.

New Delhi: 

The loan irregularities at the Punjab and Maharashtra Co-operative (PMC) Bank raises questions on the roles of regulator (RBI), auditor, independent directors and bank directors, Minister of State for Finance Anurag Thakur said on Monday and added that the government

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Consumers typically buy everything from new cars to shoes for themselves and as gifts during celebrations

Poor demand from Indian consumers could dampen the mood during festivals next month, especially for automobile makers and retailers that count on the season for a sales boost, analysts predict.

Consumers in the country typically buy everything

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Any revisions in fuel rates are effected at the fuel stations at 6 am.

The oil marketing companies (OMCs) kept the fuel rates unchanged for a second consecutive day on Sunday across the four metro cities. Petrol price in Delhi stood at Rs 74.34 per litre, and the price of diesel was at Rs 67.24 per litre,

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Flipkart and Amazon began their flagship annual sales on Saturday.

BENGALURU: 

Walmart Inc-owned Flipkart and rival Amazon Inc said on Monday they made record sales in the opening day of their annual festive season sales in the country that kicked off over the weekend.

Flipkart and Amazon began their flagship annual sales on Saturday, with both vying

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IRCTC IPO opens today: The public offer can be subscribed to in the lots of40 shares

IRCTC or Indian Railway Catering and Tourism Corporation's Rs 645-crore initial public offer (IPO) will open for subscription today. IRCTC - the online ticketing arm of the Indian Railways - has set a price band of Rs 315-Rs 320 for the IPO. After the IPO,

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In August, RBI reduced its key lending rate by 35 basis points.

Mumbai: 

The expected easing of the monetary policy as well as fresh foreign fund inflows are likely to lift the equity markets in the coming week, say experts.

However, analysts warn that continued decline in automobile sales and any rethink on the accommodative monetary policy stance

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Yes Bank was top loser in the Nifty 50 basket of shares, the stock slumped 14.36% to close at Rs 41.75.

The S-P BSE Sensex and NSE Nifty 50 indexes fell for second straight session weighed down by weakness in banking and financial services shares like HDFC, ICICI Bank, HDFC Bank, IndusInd Bank, State Bank of India. The Sensex fell as much as

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LIVE market updates: Losses in banking, metal and pharma stocks dragged the markets lower

Domestic stock markets suffered sharp losses on Monday with the BSE S-P Sensex index falling more than 300 points in morning, amid weakness in Asian peers. The broader NSE Nifty benchmark fell as much as 99.5 points to touch 11,412.90 on the downside. The

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Aadhaar-PAN linking: The taxman has set a due date of September 30 for assessees to link the two numbers

The government has once again extended the due date for linking the PAN or Permanent Account Number with the Aadhaar number - also known as the Unique Identity Number. In a notification on Saturday, the

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RBI has cut interest rates by 110 basis points so far this year.

BENGALURU: 

Sovereign bond yields across most major emerging Asian economies will slip in the months ahead as all central banks across the region are expected to cut interest rates further to nurse their economies back to health, a Reuters poll showed.

A sharp slowdown in these

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Air India's latest offer is applicable for travel till March 31, 2020.

Air India is offering 25 per cent discount on domestic flight tickets under its 'Ghumo India Family Fare'. Bookings under the sale can be made till March 31, 2020, the state run-carrier said on its website- airindia.in.  Air India has launched the new product in order to promote

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Aadhaar PAN rules: Currently, quoting of PAN is mandatory for cash transactions exceeding Rs. 50,000

Did you know that a PAN or Permanent Account Number is generated automatically if an income tax return (ITR) is filed by quoting an Aadhaar number? The Income Tax Department said last month that a PAN will be generated automatically if a person

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Anil Ambani said Reliance Capital Ltd. will exit its lending business

Four years into one of the biggest, longest unwindings in India's corporate history, tycoon Anil Ambani found himself in a familiar place Monday: Presenting shareholders with another plan to sell off assets and pay debt.

His Reliance Group is planning to pay creditors Rs 15,000

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The draft resolution plan will be subject to approval of investors and lenders.

Crisis-hit shadow bank Dewan Housing Finance Ltd (DHFL) has submitted a draft resolution plan proposing to convert debt to equity while seeking to sell assets and raise more capital.

DHFL, the country's fourth-biggest housing finance company, has roughly Rs 1 lakh

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PAN-Aadhaar card linking: The government has set a December 31 deadline for the public to link the two

The government on Saturday extended the due date for linking PAN or Permanent Account Number with the Aadhaar number - also known as the Unique Identity Number - by three months. In a notification, the Finance Ministry said the new deadline for

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