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RBI Removes UCO Bank Out Of Corrective Action List After 4 Years

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Reserve Bank of India found that the state-run lender – UCO Bank was not in breach of its rules on regulatory capital, bad loans, and leverage ratio. The Reserve Bank of India (RBI) today lifted UCO Bank out of the prompt corrective action (PCA) list after a gap of four years. The banking regulator found that the state-run lender was not in breach of its rules on regulatory capital, bad loans, and leverage ratio, according to a statement released by the RBI on Wednesday, September 8. In 2017, UCO Bank was placed under…

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NATIONAL NEWS NEWS CATEGORIES 

New Airbus Transports To Replace Indian Air Force Avros First Inducted 60 Years Ago

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The C-295MW will replace the IAF’s Avro military transport aircraft of British origin. The government today approved a deal with Airbus Defence and Space of Spain to buy 56 C-295MW transport aircraft, replacing Indian Air Force planes inducted some 60 years ago. Cleared by the Cabinet Committee on Security, the contract will involve the Tata consortium manufacturing most of the units. The military transport aircraft will replace the ageing Avros of Indian Air Force, according to a Press Information Bureau release. This could potentially cost between ₹ 20,000 crore and ₹ 21,000 crore, although…

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NEWS CATEGORIES WORLD NEWS 

“Could Not Make It End Differently”: Ex-President Ashraf Ghani Apologises To Afghans

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Reiterating that his “commitment to the Afghan people has never wavered and will guide me for the rest of my life”, Ashraf Ghani apologised that he “could not make it end differently”. Former Afghanistan President Ashraf Ghani today apologised to his countrymen – nearly three weeks after fleeing the country as the Taliban seized power with the fall of Kabul on August 15. Reiterating that his “commitment to the Afghan people has never wavered and will guide me for the rest of my life”, Mr Ghani apologised that he “could…

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NEWS CATEGORIES SPORTS 

Djokovic extends Slam bid; 1st time no US players in Open QF

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For 1 1/2 sets, including one particularly compelling and competitive 24-point game, Novak Djokovic’s fourth-round opponent at the U.S. Open Jenson Brooksby, the last American left in singles gave him fits amid a raucous atmosphere at Arthur Ashe Stadium. That let Djokovic, above all, and everyone else, know that Brooksby a 20-year-old wild-card entry from California who is ranked 99th and never before had been on this sort of stage belonged. And then, not surprisingly, Djokovic showed why he is who he is and how he’s managed to move within…

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BUSINESS NEWS CATEGORIES 

China’s trade accelerates in August despite coronavirus

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China’s import and export growth accelerated in August despite disruptions due to the spread of the coronavirus’s delta variant. Exports rose 25.6% over a year earlier to 294.3 billion, up from July’s 18.9% growth, customs data showed Tuesday. Imports rose 33.1% to 236 billion, up from the previous month’s 28.7%. That came despite lingering disruptions in industrial production chains due to last year’s global economic shutdown and a renewed rise in infections in the United States and some other markets that have dampened consumer sentiment. China has so far defied…

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NEWS CATEGORIES WORLD NEWS 

Merkel seeks to boost party before vote, clashes with deputy

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Outgoing Chancellor Angela Merkel painted a rosy picture of her government’s record on Tuesday and assailed the possibility of a future left-wing administration, seeking to boost her struggling party’s candidate as she addressed what is expected to be the German parliament’s last session before the Sept. 26 election. Merkel also clashed openly with her deputy, who is a rival party’s candidate to succeed her and is currently leading polls, over a comment in which he described people who have been vaccinated against COVID-19 as guinea pigs. It was an unusually…

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NATIONAL NEWS NEWS CATEGORIES 

Redeveloped Chandni Chowk market likely to be inaugurated by Kejriwal on Sunday

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Delhi Chief Minister Arvind Kejriwal is likely to inaugurate the redeveloped Chandni Chowk market on September 12, officials said on Tuesday. Earlier the project was to be inaugurated on April 17 this year but was cancelled due to the second wave of COVID-19. According to officials of the Public Works Department (PWD), which is one of the agencies involved in the redevelopment work, the department has been asked to start preparations for inauguration and complete all the misses and fixes . The redeveloped Chandni Chowk is likely to be formally…

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LEGAL NEWS NEWS CATEGORIES 

Pegasus snooping row: SC grants more time to Centre, to hear pleas seeking probe on Sep 13

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 The Supreme Court Tuesday granted more time to the Centre to decide on filing a further response to a batch of pleas seeking an independent probe into the alleged snooping of certain people in India through the use of Israeli spyware Pegasus and slated the matter for further hearing on September 13. A three-judge bench headed by Chief Justice N V Ramana had issued a notice to the Centre on the pleas on August 17, while making it clear that it did not want the government to disclose anything which…

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BUSINESS NEWS CATEGORIES 

Sensex jumps 250 pts to cross 58K in early trade; Nifty tops 17,300

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 Equity benchmark Sensex jumped over 250 points in early trade to scale the 58,000-level for the first time on Friday, led by gains in index majors Reliance Industries, Kotak Bank and ICICI Bank amid a positive trend in global markets and sustained foreign fund inflows. Similarly, the broader NSE Nifty too crossed the 17,300-mark in the opening session. The 30-share Sensex was trading 250.75 points or 0.43 per cent up at its lifetime high of 58,103.29, and Nifty advanced 67.65 points or 0.39 per cent to record 17,301.80 in initial…

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LEGAL NEWS NEWS CATEGORIES 

Maha: Court acquits two shopkeepers accused of assaulting Navi Mumbai civic officials

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A court in Maharashtra’s Thane has acquitted two shopkeepers in Navi Mumbai, who were accused of assaulting local civic officials in 2016 and deterring them from discharging duty. District judge P M Gupta, in the order passed last week that was made available on Friday, said the prosecution has failed to prove the charges against the accused duo – Bhagwan Pandurang Dhakne and Balchandra Sopan Nalawade – who run shops in Haware Centurion Mall in Nerul. The accused were booked under IPC sections 353 (assault or criminal force to deter…

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