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Nirav Modi scam: Crisil puts PNB ratings on the watch

Rating agency Crisil has put the scam-ridden Punjab National Bank's ratings on 'watch', following the Rs 11,400-crore fraud detected by the lender at one of its Mumbai branches.

18 Feb 2018

File Photo of Niti Aayog headquarters in New Delhi. (File Photo)
E-mobility: Government may restructure two apex bodies for better inter-ministerial interface

The restructuring proposal was mooted by government think tank Niti Aayog for "providing a leadership and inter-ministerial coordination".

18 Feb 2018

Representational image. (File | reuters)
PNB fraud: Assocham urges government to cut stake in public sector banks to below 50 per cent

Assocham that PSBs should then be allowed to function on the lines of private sector lenders with a full sense of accountability to their shareholders

18 Feb 2018

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Diamond is now fraudster's best friend! Nexus under scanner

Capital markets watchdog Sebi is looking into the trade details and various suspected violations by Modi-linked entities, including another jewellery major Gitanjali Gems of Mehul Choksi.

18 Feb 2018

Prime minister Narendra Modi shakes hand with Iran president Dr. Hassan Rouhani before their meeting at Hyderabad house in New Delhi on Saturday. | (Shekhar Yadav | EPS)
Iran deepens freight discount to boost oil sales to India: Sources

Since the lifting of sanctions on Iran in 2016, it has been offering India a freight discount linked to a formula translating into 105 percent of the Platts assessment.

18 Feb 2018

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FPIs' net outflow from equities hits USD 1 bn so far in February

This is against the total inflow of over Rs 13,780 crore by foreign portfolio investors (FPIs) in January, latest data with depositories showed.

18 Feb 2018

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Indian Bank ramping up overseas operations: MD & CEO

The bank had reportedly taken steps to increase business levels as there was "slight stagnancy earlier" (in the bank operations).

18 Feb 2018

Image for representational purpose only. (File | AP)
Coal import rises by 12 per cent to 18 million tonnes in January 

There was a flat growth in non-coking coal adding the "met coal imports were up both on annual and monthly basis, thanks to the downtrend in January prices and the recent growth spurt in steel sector

18 Feb 2018

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349 infra projects show cost overrun of Rs 2 lakh crore

The Ministry of Statistics and Programme Implementation monitors infrastructure projects worth Rs 150 crore and above.

18 Feb 2018

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NTPC eyes 100 per cent equity in some Joint Venture projects with state utilities, stressed assets

This is part of the NTPC plan for inorganic growth as the corporation is eyeing the plants that are close to coal sources and running with an eye on the cost of generation from these plants.

18 Feb 2018

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Incentives for green tech, artificial intelligence likely in new industrial policy

The proposed policy, the draft of which has been released by the commerce and industry ministry for consultation with various stakeholders, will completely revamp the Industrial Policy of 1991.

18 Feb 2018

Reuters File image used for representational pupeose.
Impact of GST on restaurant industry positive: Survey

Over 70% of restaurant owners in Mumbai and Bengaluru believed GST is a positive decision for the industry, while 68% businesses felt it will ease compliance since it is backed by technology.

18 Feb 2018

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PNB fraud: Assocham calls for privatising public sector banks

The industry body said PSB senior managements spend bulk of their time "receiving and implementing directions from the bureaucrats even for innocuous issues."

18 Feb 2018

Bankers begin dissecting fallout of PNB scam

Bankers huddled here on Saturday to determine what they owe each other in the Rs 11,400 crore Indian banking fraud.

18 Feb 2018

For representational purposes (File | Reuters)
87 per cent of loan applications under government's employment generation scheme turned down in 2017

About 4 lakh people applied for loans from different banks to avail the benefits under the PMEGP in 2017-18, but only 51,319 people, or 12.5 per cent, succeeded in getting loans.

18 Feb 2018

Policemen guard a PNB branch during a protest against Nirav Modi in Mumbai on Saturday | PTI
PNB fraud: 142 LoUs issued between March and May last year to Gitanjali, Gili, Nakshatra

Overseas branches of five Indian banks were authorised by Punjab National Bank (PNB) officials to fund three companies owned by Nirav Modi and Mehul Choksi.

18 Feb 2018

Indian Railways Photo for Representational Purposes. (PTI File Photo)
For speed and savings, Railways to eliminate uneconomical train stops

The Indian Railways has decided to do away with uneconomical train stoppages that were made over the years as part of social obligations from Parliamentarians and state governments.

18 Feb 2018

PNB fraud case: ED raids at Gitanjali store in Bengal's Durgapur

Enforcement Directorate conducted search at a franchise- based store of Gitanjali Gems in West Bengal's Durgapur and the group is probably in the process of winding up its only store in Kolkata.

18 Feb 2018

Qualcomm invests 150 million dollars to help Indian start-ups

Under the ‘Qualcomm Design in India’ 2018 program, about 15 startups focusing on fintech, agritech, meditech, rural IOT, biometrics and smart infrastructure will be selected and mentored.

17 Feb 2018

Chairman and Chief Executive Officer of ArcelorMittal Lakshmi Mittal. (Reuters)
ArcelorMittal hits a roadblock in bid for Essar Steel assets

According to Section 29 A of the new Insolvency and Bankruptcy Code (IBC) framework, promoters of defaulting companies are barred from bidding for stressed assets.

17 Feb 2018

A Nirav Modi jewellery showroom in Chanakyapuri area of New Delhi on Thursday, 15 February 2018. (PTI).
Ambit of Nirav Modi case widens; Serious Fraud Investigation Office steps in

The SFIO will also look into all the companies belonging to Nirav Modi, wife Ami, brother Nishal Modi and uncle Mehul Choksi.

17 Feb 2018