Business

SC asks banks not to impose penalties for missing EMIs

The Supreme Court has recently directed the banks to not treat the accounts of homebuyers of Amrapali Group of Companies, who have bought their flats under subvention scheme, as non-performing assets accounts. The apex court also said that no penalties will be charged from them for defaulting easy monthly...

Apr 20 · >

RBI survey forecasts double-digit inflation ahead

The household inflation expectations for both three months and one year have crossed the 10 per cent mark, according to a survey by the RBI, whereas the central bank in its latest monetary policy review projected the inflation at 5.7 per cent for the current financial year 2022-23. “Households’...

Apr 10 · >

Adani enters $100 billion club with Musk, Bezos

Gautam Adani has joined the exclusive centibillionaires club, which includes the likes of investor Warren Buffett, Tesla CEO Elon Musk, Amazon chief Jeff Bezos, and Meta founder Mark Zukerberg. Adani has also emerged as the world’s biggest gainer, as per a report, with his fortune going up by nearly...

Apr 3 · >

Banking services hit by strike, impact higher in east India

According to a report by news agency PTI, banking services were partially impacted on Monday as a section of bank employees did not report for duty. Some bank branches, particularly in cities with a strong trade union movement, did very limited over-the-counter public dealings such as cash deposits and withdrawals....

Mar 29 · >

Modi promises full cooperation to Lanka in forex crisis

Sri Lankan Finance Minister Basil Rajapaksa on Friday said that Prime Minister Narendra Modi has assured Colombo of full cooperation in all economic and social matters, including backing at international forums, to further intensify the close bilateral ties. Speaking to reporters after he returned from India, where he clinched...

Mar 19 · >

India eying more cheap Russian Oil

India may take up a Russian offer to buy crude oil and other commodities at a discount, two Indian officials said, in a sign that Delhi wants to keep its key trading partner on board despite Western attempts to isolate Moscow through sanctions. U.S. officials have said in recent...

Mar 15 · >

World Bank warns inflation may trigger riots

Soaring energy and food prices triggered by Russia’s invasion of Ukraine could exacerbate existing food security concerns in the Middle East and Africa, and may fuel growing social unrest, World Bank chief economist Carmen Reinhart said. Germany will host a virtual meeting of agriculture ministers from the Group of Seven...

Mar 10 · >

Rupee hits lifetime low at 76.9 per dollar

The Indian rupee hit a lifetime low in opening deals on Monday as a sharp surge in global crude oil prices threatened to push up imported inflation and widen the country’s trade and current account deficits. The partially convertible rupee was trading at 76.92/93 per dollar, after touching 76.96, its weakest level ever....

Mar 7 · >

IT firms’ work from home ends

Work from home began for most employees when the first Covid-19 lockdown was announced. Now, almost after two years when there is a visible decline in the number of Covid-19 cases, several IT firms are gearing up to call their staff back to offices. However, in a slight respite to...

Mar 4 · >

Rupee trade with Russia planned to soften sanctions

India is exploring ways to set up a rupee payment mechanism for trade with Russia to soften the blow on New Delhi of Western sanctions imposed on Russia after its invasion of Ukraine, government and banking sources said. Indian officials are concerned that vital supplies of fertilizer from Russia...

Feb 26 · >