Category: BUSINESS

New Delhi, Jun 14 (DIN NEWS) Gold prices slipped by Rs 90 to Rs 31,860 per ten gram at the bullion market today on slackened demand from local jewellers, shrugging off a firm trend overseas. On the other hand, silver ready surged by Rs 400 to Rs 41,950 per kg backed by increased offtake by industrial units and coin makers. Traders said easing demand from local jewellers as well as retailers at the domestic spot market led to the downtrend in gold prices, but a firm trend overseas capped the fall.…

Read More

New Delhi, Jun 13 (DIN NEWS) The Reserve Bank needs more powers to oversee public sector banks (PSBs), Governor Urjit Patel told a parliamentary panel today amid mounting bad loans in state-run lenders. The RBI governor, who appeared before the Parliamentary Standing Committee of Finance, faced tough questions from lawmakers on bad loans, bank frauds, cash crunch and other issues, according to sources. Sources said the governor assured the members that steps were being taken to strengthen the system. Regarding PSBs, he told the panel that the RBI has “inadequate”…

Read More

Mumbai, Jun 13 (DIN NEWS) The BSE Sensex rallied about 185 points to 35,877.41 in early session today, buoyed by robust industrial output data amid mixed Asian cues. Industrial output expanded by 4.9 per cent in April this year, spurred by higher growth in manufacturing and mining sectors, as per official data released after market hours yesterday. Retail inflation, however, inched up to 4.87 per cent in May on increase in food prices. The 30-share barometer spurted by 184.89 points, or 0.51 per cent, to 35,877.41. The gauge had gained…

Read More

New Delhi, Jun 12 (DIN NEWS) RBI Governor Urjit Patel today faced tough questions from a parliamentary panel on bad loans, bank frauds, cash crunch and other issues even as he assured the members that steps were being taken to strengthen the system, sources said. Sources present at the meeting of the Parliamentary Standing Committee on Finance said the RBI Governor expressed confidence of tiding over the crisis regarding non-performing assets (NPAs). Some members of the committee, headed by senior Congress leader Veerappa Moily, sought to know about the reasons for…

Read More

New Delhi, Jun 12 (DIN NEWS) The Reserve Bank needs more powers to oversee public sector banks (PSBs), Governor Urjit Patel told a parliamentary panel today amid mounting bad loans in state-run lenders. The RBI governor, who appeared before the Parliamentary Standing Committee of Finance, faced tough questions from lawmakers on bad loans, bank frauds, cash crunch and other issues, according to sources. Sources said the governor assured the members that steps were being taken to strengthen the system.Regarding PSBs, he told the panel that the RBI has “inadequate” control over…

Read More

Kolkata, June 11 (DIN NEWS) Leading industry body Assocham has appealed to the government to advise all states for speedy implementation of Model Direct Selling Guidelines issued by the consumer affairs ministry in September 2016. Assocham’s direct tax force on direct selling had written to the consumer affairs minister Ram Vilas Paswan stating that after 18 months of issuance of these guidelines, the industry has not seen much progress in their implementation. Some of the states such as Sikkim, Telengana, Chhattisgarh and Andhra Pradesh have implemented the guidelines while most…

Read More

Chennai, Jun 11 (DIN NEWS) Six parliamentarians have received ‘Sansad Ratna’ awards while former Karnataka Chief Minister and senior Congress leader M Veerappa Moily has bagged a special award for heading the parliamentary standing committee on finance. Five MPs from Maharashtra and one from Odisha — belonging to different parties — won the best parliamentary performance award from Prime Point Foundation — a Chennai-based NGO. The ‘Sansad Ratna Awards 2018’ was instituted nine years ago by the NGO. These awards were instituted at the instance or suggestion of the late…

Read More

New Delhi, Jun 10 (DIN NEWS) The country’s largest lender SBI will conduct auction of 12 non-performing accounts (NPAs) later this month to recover dues of over Rs 1,325 crore. The e-auction of these accounts will take place on June 25, according to an SBI notice. The NPA accounts that have been put under the hammer include Ankit Metal & Power Ltd (Rs 690.08 crore), Modern Steels Ltd (Rs 122.61 crore), Good Health Agrotech Pvt Ltd (Rs 109.14 crore), Amit Cottons Pvt Ltd (Rs 84.70 crore), and Ind-Swift Ltd (Rs…

Read More

Kolkata, Jun 9 (DIN NEWS) State Bank of India, the country’s largest lender expects to recover around Rs 30,000 crore from the resolution process under the Insolvency and Bankruptcy Code (IBC) during the current fiscal, an official said today. From the two stressed assets’ list referred for resolution under IBC by the Reserve Bank of India, the bank’s total exposure was around Rs 78,000 crore, Pallav Mohapatra, DMD (stressed assets resolution group) of SBI said. The bank had been able to recover Rs 8,500 crore from the Bhushan Steel-Tata Steel…

Read More