Credit Rating Agency Fitch Downgrade India's GDP from 6.9 % to 6.7 %
Dec 5 2017 10:14 AM
Newyork based international credit rating agency Fitch says growth has repeatedly disappointed in past quarters and GDP growth projection is limited to 6.7%
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Mismangament of Ola and Uber left no choice for Drivers to go for Strike
Mar 18 2018 8:26 AM
Drivers from cab aggregators, Uber and Ola, have threatened to go on an indefinite strike starting Sunday midnight in several parts of the country including, Mumbai Metropolitan Region, as the drivers working for both have alleged that their business has seen a drastic fall in the past several months caused by mismanagement, strikes go in cities such as Mumbai, Delhi, Noida, Nashik, Pune, Satara, Bangalore and Telangana.
Walmart Set to Buy Major Stake in E-commerce Giant Flipkart
Mar 14 2018 6:34 PM
Walmart Inc is in the final stage of negotiations to become the largest shareholder in Flipkart India’s biggest online retail company pitching the world’s largest brick-and-mortar retailer into a direct face-off with another giant American retailer Amazon. To begin with Walmart could buy about 20-26% stake and increase its shareholding to 51% in tranches.
Supreme Court Directs CBI, ED to Complete Probe into 2G
Mar 12 2018 2:41 PM
The Supreme Court today directed investigating agencies CBI and ED to complete their probe into the 2G spectrum allocation cases and other related matters in six months. A bench of Justices Arun Misra and Naveen Sinha directed the Centre to file a status report on investigation into the 2G spectrum scam and related cases arising out of it, including the Aircel-Maxis deal, in two weeks.
E-Way Bill will Be Implemented from 1st April, but No decision on GST return simplification
Mar 10 2018 7:04 PM
The 26th GST Council meeting on Saturday failed to come up with any conclusive simplification process, but E-way bill will be implemented from April 1. What is E-way Bill? E-Way Bill is an electronically generated document which is required to be generated for the movement of goods of more Rs. 50,000 from one place to another.This document is required to be generated online for transportation of goods irrespective of whether such transportation is inter-state or intra-state. Under the GST Regime, generation of the e-way bill is compulsory from 1st Feb 2018.
Airtel Payments Bank Slapped With Rs. 5 Crore Fine by RBI Over KYC Violation
Mar 10 2018 6:46 PM
Reserve Bank of India (RBI) on Friday ha imposed a penalty of Rs 5 crore on Airtel Payments Bank Limited for violating Know Your Customer (KYC) norms operating guidelines for payments banks and direction issued by RBI, an official statement said. The apex bank said that this action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
Another NPA after Nirav Modi , Videocon's Dhoot Having 43100 crore Loan Going to Default
Mar 10 2018 9:09 AM
Videocon seeking extension for Rs22,000 crore loan from 17 banks domestic PSU banks and private banks Videocon has a debt of about Rs43,100 crore. "Videocon owes Rs22,100 crore to the domestic banks while the remaining debt of Rs21,000 crore is from foreign banks like Bank of America and Standard Chartered.
Bombay HC dismisses RCom's appeal against arbitration order barring asset sale
Mar 8 2018 4:53 PM
The Bombay High Court Thursday has dismissed the Anil Ambani's Reliance company plea challenging the arbitration court's order which “restrained” the sale or transfer of the telco’s assets without prior permission. "We intend to file an appeal against the interim order of the Hon'ble Mumbai High Court.
RBI Inject Rs.1.00 Lakh Crore to Meet Credit Demands
Mar 6 2018 8:02 AM
Reserve Bank of India (RBI) announced on Monday that it would inject Rs 1 lakh crore of additional liquidity this month to meet the increased demand for credit. RBI said on Monday that this additional liquidity will be injected through Repos with tenors of 24 days, 28 days and 31 days that will be conducted on every Tuesday in March. RBI will inject Rs 25,000 crore every week through these repos .
NIrav Modi Give Diamond and Gold Jewellery to PNB Official as Bribe
Mar 4 2018 9:53 AM
MUMBAI/NEW DELHI: An official of India's Punjab National Bank received gold and diamond jewellery from a billionaire Nirav Modi accused of being involved in a $2 billion bank fraud, the federal police told a court on Saturday. The state lender in January uncovered the alleged fraud in which several bank officials were suspected of colluding with jeweller Nirav Modi and his uncle Mehul Choksi to issue fraudulent letters of undertakings (LoUs), for their companies to raise loans from overseas branches of mostly Indian banks.
Reliance Jio to invest Rs 10,000 crore more in UP over 3 years
Feb 22 2018 8:31 AM
Mukesh Ambani led Reliance Jio to invest Rs 10,000 crore more in Uttar Pradesh over the next three years, and will make available 20 million Jio Phones in the next two months, Ambani said Reliance had already invested Rs 20,000 crore to build digital infrastructure and created 40,000 direct and indirect jobs,
Vodafone Offers Unlimited Voice Calls, 1GB Data Per Day for 28 Days at Rs.158
Feb 20 2018 7:44 PM
Vodafone has introduced two new prepaid packs that offer unlimited voice calls and high-speed data access for a validity of 28 days at Rs.158 pack offers unlimited voice calls (250 minutes/ day and 1,000 minutes/ week), and 1GB 4G/ 3G data per day, with a validity of 28 days. The second pack is priced at Rs. 151 and offers unlimited voice calls and a total of 1GB 4G/ 3G data with a validity of 28 days. Both packs are currently applicable only in the Kerala circle.
Ex.Deputy manager of Punjab National Bank Arrested defrauding the public sector bank
Feb 18 2018 9:15 AM
Gokulnath Shetty, the retired deputy manager of Punjab National Bank (PNB) arrested on Saturday for defrauding the public sector bank to help Nirav Modi and Mehul Choksi, approached the end of his tenure, the frequency with which he issued letters of undertaking (LoUs) to the two diamond traders reached feverish proportions.