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4:54 pm - Saturday April 21, 2018

Archive: Business Subscribe to Business

Except PNB, no PSB issued fake LoUs: SBI official

Agencies, New Delhi State Bank of India (SBI) Deputy Managing Director M S Shastry on Thursday said no other public sector bank issued unauthorised credit letters except the Punjab National Bank (PNB). “Except for the one-off incident involving...

Wholesale inflation in February eases to 2.48 per cent

New Delhi, The annual rate of inflation, based on monthly Wholesale Price Index (WPI), eased marginally at 2.48 per cent from 2.84 percent in the previous month, data released by Commerce and Industry Ministry said on Wednesday. The WPI inflation...

World Bank projects India’s GDP growth rate at 7 3 in 2018-19

New Delhi, The World Bank has projected India’s Gross Domestic Product (GDP) growth rate at 7.3 and 7.5 per cent in the year 2018-19 and 2019-20 respectively. In its India Development update released here on Wednesday, World Bank said that...

Taking lessons from PNB-Neerav Modi scam, RBI discontinues LoUs, LoCs for Trade Credits

New Delhi, In a major decision to rein in the scam like PNB-Neerav Modi, Reserve Bank of India (RBI) on Tuesday asked the banks not to issue Letters of Undertaking (LoUs). LoUs were the instruments used allegedly by diamantaire Nirav Modi and...

Infosys delists its ADS from Euronext exchanges

Agencies, Bengaluru Low average daily trading volume has forced Indian software major Infosys to voluntarily delist its American Depositary Shares (ADS) from the Euronext Paris and Euronext London exchanges. Infosys in a statement on Monday...

Eicher shuts down production of Multix brand utility vehicle

Agencies, New Delhi Leading automotive company Eicher Motors Limited (EML) on Monday announced closure of operations of its joint venture Eicher Polaris Private Limited (EPPL) with immediate effect. EML had an equal joint venture with US-based...

Digital transactions to cross $1 trillion annually by 2025

Agencies, New Delhi, By 2025, digital transactions in India could be worth 1 trillion dollar annually, with four out of every five transactions being made digitally. According to ACI Worldwide, a leading global provider of real-time electronic...

Tata Power launches initiatives to empower girls

Mumbai, Tata Power, country’s largest integrated power company, has launched two initiatives namely ‘Hausala’ & ‘The Girl Power Project’, which is an initiative towards supporting adolescent girls in the age...