Mumbai : Subdued inflation and demand prompted the RBI on Wednesday to reduce its key lending rate by 25 basis points (bps), which, however, failed to lift the sentiments of the business fraternity who felt a steeper cut would have been better. According to the...
Mumbai : State-owned Punjab National Bank (PNB) on Wednesday reported a 12.09 per cent increase in the standalone net profit for the first quarter (Q1) of 2017-18. According to the bank, its standalone net profit during the quarter under review stood at Rs 343.40...
New Delhi : Financial institutions, including banks and non-banking financial companies (NBFCs), are pretty optimistic about improvement in the financial conditions in the overall economy due to the GST implementation and initiation of the insolvency process to tackle...
Mumbai : Indian equity markets traded with appreciable gains during the mid-afternoon session on Monday as hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI), coupled with expectations of healthy quarterly results, kept...
Mumbai : The State Bank of India (SBI) on Monday announced a 50 basis points (bps) cut in the interest rates for savings accounts having deposits below Rs 1 crore, effective immediately. The revised interest rate for savings accounts having up to Rs 1 crore deposit...
New Delhi : Ahead of the Reserve Bank of India's (RBI) forthcoming monetary policy review next week, industry chamber Assocham has on Sunday urged the apex bank to cut interest rates in view of latest data that shows inflation at a five-year low and deceleration in...
Mumbai : Private life insurer Reliance Nippon Life Insurance Company Ltd is targeting to expand its distribution network by acquiring a public sector bank promoted life insurer, a top company official told analysts on Friday. The top management of Reliance Capital and...
New Delhi : Axis Bank has entered into an agreement with Jasper Infotech Private Limited to acquire 100 per cent stake in its subsidiaries like FreeCharge Payment Technologies Private Limited and Accelyst Solutions Private Limited, which together constitute the...
Beijing : Credit rating agency Moody's on Thursday revised its outlook for the Chinese banking system from negative to stable. The revision follows Moody's assessment of five drivers: Operating Environment (stable); Asset Quality and Capital (stable/stable); Funding...
Mumbai : Healthy quarterly results, coupled with intense buying activity witnessed in index heavyweights such as HDFC Bank, Reliance Industries (RIL), ITC and Infosys, lifted the key Indian equity indices -- the BSE Sensex and the NSE Nifty -- to record highs on...