Ten PSBs to merge, form 4 banks from April 1
Mar 31, 2020, at 07:28 pm
New Delhi/UNI: Six public sector banks will go down in the pages of history with effect from April 1 after ten PSBs merge into four from April 1, 2020 to help meet the needs of the growing economy and create large banks globally.
ITC moves up 7.84 pc to Rs 172
Mar 31, 2020, at 07:25 pm
Mumbai/UNI: ITC on Tuesday rallied 7.84 pc to Rs 172 and was the star gainer in the 30 scrip index of Bombay Stocks Exchange.
Feb core industries move up at 5.5 per cent Vs 1.4 pc in Jan
Mar 31, 2020, at 07:21 pm
New Delhi/UNI: Eight sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity -- expanded in February 2020 by 5.5 per cent against 1.4 per cent in January.
Indian Market: Sensex jumps 1028.17 points
Mar 31, 2020, at 07:17 pm
Mumbai/UNI: The benchmark Index of Bombay Stock Exchange on Tuesday surged 1028.17 points
Indian Overseas Bank reduces interest rate on loans
Mar 31, 2020, at 07:13 pm
Chennai/IBNS Chennai based public sector bank, Indian Overseas Bank, consequent to change in Repo rate by RBI, has reduced the repo linked lending rate (RLLR) by 75 bps.
Indian Rupee up 6 paise against USD
Mar 31, 2020, at 07:12 pm
Mumbai/UNI: The Rupee on Tuesday rose six paise to 75.55 against the US Dollar on selling of American currency by bankers and exporters, dealers at the forex market said.
Punjab National Bank cuts interest rates
Mar 31, 2020, at 07:11 pm
New Delhi/IBNS: Punjab National Bank (PNB) has decided to pass on the full benefit of recent RBIs policy rate cut of 75 bps to its borrowers covered under External Benchmark linked product of Repo Linked Lending Rate (RLLR) in respect of Retail/ MSME portfolio w.e.f 01.04.2020.
HAL records turnover in excess of Rs 21000 cr
Mar 31, 2020, at 07:00 pm
Bengaluru/UNI: Hindustan Aeronautics Limited (HAL) recorded a turnover of over Rs 21,100 crores (provisional and unaudited) for the financial year ended on March 31, 2020 (corresponding figure for the previous year was Rs. 19,705 crores).
COVID-19 impact: Recession to hit developing nations, may spare India and China, says UN report
Mar 31, 2020, at 06:32 pm
New York/IBNS: The world economy will go into recession this year with a predicted loss of global income in the trillions of dollars, causing serious trouble for developing countries, with the likely exception of China and the possible exception of India, as per a UN trade report released on Monday.
Coronavirus could cut global investment by 40%, new estimates show
Mar 31, 2020, at 06:19 pm
New York/IBNS: A new UNCTAD analysis of how the coronavirus pandemic will affect global foreign direct investment (FDI) prospects shows that the negative impact will be worse than previously projected on 8 March.
$2.5 trillion COVID-19 rescue package needed for world’s emerging economies
Mar 31, 2020, at 01:42 pm
New York/IBNS: The economic fallout from COVID-19 is likely to get “much worse” before it gets better for some six billion people living in developing economies, the UN said on Monday, in an appeal for a $2.5 trillion rescue package to boost their resilience to further hardship.
World Bank lowers Malaysia's growth to -0.1 pct on COVID-19 impact
Mar 31, 2020, at 12:21 pm
Kuala Lumpur/Xinhua/UNI: The World Bank on Tuesday revised down Malaysia's gross domestic product (GDP) growth projection this year sharply to -0.1 percent from 4.5 percent, to reflect the severity of the economic impact of the COVID-19 outbreak.
Five Benefits of Taking a Home Loan
Mar 31, 2020, at 11:14 am
Being a homeowner calls for a continued commitment towards the improvisation, renovation and modernization of home. Such quality maintenance not only improves the aesthetic appeal of the apartment but increases the value of the property as an asset. Listed below are five ideas for getting a budget for apartment modernization.
East Asia and Pacific: Countries must act now to mitigate economic shock of COVID-19
Mar 31, 2020, at 11:00 am
Washington/IBNS: The virus that triggered a supply shock in China has now caused a global shock. Developing economies in East Asia and the Pacific (EAP), recovering from trade tensions and struggling with COVID-19, now face the prospect of a global financial shock and recession.
Mar 31, 2020, at 10:26 am
Bangalore/IBNS: In its determined endeavors to counter the repercussions brought about by COVID-19 and the nationwide lockdown that followed, Toyota Kirloskar Motor (TKM) on Tuesday, announced Dealer Support Package - ‘COVID Package’ for its associates in order to support and protect their interests.
Indian financial year not being extended: Indian Government
Mar 31, 2020, at 09:52 am
New Delhi/IBNS: Refuting media reports, the Ministry of Finance has said India's financial year has not been extended till June this year when the nation is fighting against the COVID19 outbreak.
Mar 31, 2020, at 09:50 am
Kolkata/IBNS: Bharti Airtel, an integrated telecommunications company, on Tuesday announced all measures to assist low income group customers impacted by the COVID-19 crisis.
#IndiaFightsCorona: Reliance Industries announces Rs. 500 crore contribution to PM CARES Fund
Mar 30, 2020, at 11:48 pm
Mumbai/IBNS: Reliance Industries Ltd. (RIL) on Monday announced a donation of Rs. 500 crore to PM CARES Fund in response to the call by the Prime Minister to support the nation’s fight against the Coronavirus onslaught.
Indian Rupee down 73 paise against USD
Mar 30, 2020, at 06:51 pm
Mumbai/UNI: The rupee on Monday heavily down by 73 paise to 75.61 against the greenback on brisk demand for US dollar by bankers and importers amid outflow by foreign institutional investors, dealers at the Forex market informed.
HAL to donate Rs 26.25 cr to PM-CARES Fund through CSR
Mar 30, 2020, at 05:40 pm
Bengaluru/UNI: Public Sector HAL has pledged Rs 20 crore from its CSR fund to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM-CARES) Fund.
Indian Market: Sensex slumps 1,375.27 pts
Mar 30, 2020, at 04:51 pm
Mumbai/UNI: The benchmark index of Bombay Stock Exchange on Monday crashed 1,375.37 points to settle at 28,440.32 on weak global cues amid heavy selling in finance, auto and telecom stocks.
ICICI Bank launches banking services on WhatsApp·
Mar 30, 2020, at 12:42 pm
Mumbai/IBNS: ICICI Bank on Monday announced the launch of banking services on WhatsApp to enable its retail customers to undertake a slew of banking requirements from their home at a time when they are advised to stay indoors in the wake of the nationwide lockdown to fight against corona virus.
Indian Market: Sensex down by 589 pts
Mar 30, 2020, at 12:40 pm
Mumbai/UNI: The BSE index on Monday dropped by 589 pts to open at 29,226.55 as heavy selling in finance, materials, industrial, auto and banks.
Indian Rupee down by 45 paise against USD
Mar 30, 2020, at 12:37 pm
Mumbai, Mar 30 (UNI) The Rupee on Monday tumbled down 45 Paise to 75.30 in opening trade on rising demand for dollars by bankers and importers, a dealer at forex market informed.
Bank of Baroda lowers Baroda Repo Linked Lending Rate by 75 bps
Mar 30, 2020, at 12:09 pm
New Delhi/IBNS: Bank of Baroda, a public sector lender, has reduced its Baroda Repo Linked Lending Rate (BRLLR) by 75 basis points with effect from March 28, 2020.
COVID-19: Tata Trusts up their commitment by Rs 1000 crore
Mar 28, 2020, at 10:18 pm
Mumbai/IBNS: Hours after announcing a contribution of Rs 500 crore towards tackling the COVID-19 situation in India, Tata Trusts on Saturday increased their commitment to the cause with an additional Rs 1000 crore.
Tata Trusts commits Rs 500 crore to fight COVID 19 outbreak
Mar 28, 2020, at 05:50 pm
New Delhi/IBNS: In a bid to fight against COVID 19 outbreak in India, Tata Trusts has committed Rs. 500 crores to all affected communities.
Ola launches 'Drive the Driver Fund' to offer relief to the driver community
Mar 27, 2020, at 06:53 pm
Kolkata/IBNS: Two days after the nation-wide lockdown which has left the country’s drivers without any daily income, Ola, one of the world’s largest ride-hailing platform, on Friday announced the launch of ‘Drive the Driver Fund’ under the aegis of its social welfare arm, Ola Foundation.
Indian Market: Sensex down 131.18 pts
Mar 27, 2020, at 06:48 pm
Mumbai/UNI: Sensex of Bombay Stock Exchange (BSE) on Friday fell by 1,31.18 pts to end negative at 29,815.59 pts on selling in telecom, auto, realty and technology stocks.
India's corporate sector welcome's RBI repo rate cut amid COVID-19 outbreak
Mar 27, 2020, at 06:45 pm
Mumbai/IBNS: The Indian corporate sector has reacted positively to the Reserve Bank of India's decision to slash the repo rate by 75 basis points to 4.4 per cent.