Reserve Bank imposes Rs 11 cr fine on seven public sector banks for violating norms

New Delhi: The Reserve Bank on Friday said it has imposed a collective penalty of Rs 11 crore on seven public sector banks for violating norms on current account opening. Allahabad Bank and Bank of Maharashtra have been imposed a fine of Rs 2 crore each, Bank of Baroda, Bank of India, Indian Overseas Bank […]

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Rourkela Steel Plant (RSP) success fuelled by customers’ trust: CEO

New Delhi: The success of Rourkela Steel Plant (RSP) has been shaped mainly by its customers, CEO of RSP, Dipak Chattaraj has said. When it comes to customers, what matters most is their trust and understanding, as everything else falls into place automatically, Chattaraj said. “Our valued customers have played a very crucial role in […]

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Government approves 7 amendments to insolvency law

New Delhi: In a significant move, the government Wednesday cleared seven amendments to the insolvency law. The amendments to the Insolvency and Bankruptcy Code (IBC) are aimed at filling critical gap in the corporate insolvency resolution framework while at the same maximising value from the resolution process. The Cabinet has approved the changes to the […]

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State-run banks should be freed of constraints: former Reserve Bank of India governor Raghuram Rajan.

New Delhi: Public sector banks might perform better if they are freed from some of the constraints they operate under but such freedom typically requires distance from the government, says former Reserve Bank of India governor Raghuram Rajan. He is also of the view that there is no guarantee that privatisation will be a panacea. […]

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Government considering giving more powers to Reserve Bank of India to regulate NBFCs: Finance Minister Nirmala Sitharaman

New Delhi: The government is considering strengthening the Reserve Bank’s regulatory and supervisory powers over the non-banking finance companies (NBFCs), Finance Minister Nirmala Sitharaman said in the Lok Sabha Monday. Replying to a question, the minister said RBI was closely monitoring the liquidity position of NBFCs and will continue to monitor the activity and performance […]

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Tripura now exporting power to Nepal: Deputy Chief Minister Jishnu Devvarma

New Delhi: Power surplus state, Tripura in now exporting electricity to Nepal, Deputy Chief Minister Jishnu Devvarma said Wednesday. Devvarma who is also the Power minister said “We have been selling 190 MW power to Bangladesh for last so many years and now we have started exporting 40 MW power to Nepal from our surplus […]

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Prabhu appeals to industry chambers to organise relief ops in Fani affected areas

New Delhi : Commerce and Industry Minister Suresh Prabhu Saturday appealed to industry chambers to organise relief operations for helping people affected by Cyclone Fani. “Appealing all in commerce & industry organise relief for the unfortunate affected by #FaniCyclone. We will organise best possible way to ensure the help reaches those who needs it most. […]

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Hyundai : Train 10k sales consultants for our global connected tech

New Delhi : Hyundai Motor India Tuesday said it is training a team of over 10,000 professionals for its global connected technology that is all set to debut in its upcoming compact SUV Venue. The auto major will introduce its global technology BlueLink in the Indian market with the launch of the compact SUV which […]

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CBI issues lookout notice against Chanda Kochhar

New Delhi:The CBI has issued lookout notices against former ICICI Bank CEO Chanda Kochhar, her husband Deepak and MD of the Videocon Group Venugopal Dhoot, officials said here Friday. The move was taken nearly a week after a case was registered against Chanda Kocchar, Deepak and Dhoot, they said. The move is to ensure that […]

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Budget 2019 : Parliament passes Interim Budget 2019-20

New Delhi : Parliament Wednesday approved Modi Government’s sixth and final Budget that gave Income Tax rebate to those earning up to Rs 5 lakh, an annual cash dole of Rs 6,000 to small farmers and pension for unorganised sector workers. While the Lok Sabha has passed the Appropriation Bills that gave Government authorisation of […]

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