Business

The country’s foreign exchange reserves increased by USD 1.875 billion to USD 421.867 billion in the week to May 31, Reserve Bank data showed Friday. In the previous week, the reserves had risen by USD 1.99 billion to USD 419.99 billion. In the reporting week, foreign currency assets, which is a major component of the overall reserves, rose by USD ...

The National Small Industries Corporation Limited (NSIC) signed a Memorandum of Understanding (MOU) with Ministry of Micro, Small and Medium Enterprises (MSME) for the year 2019-20. The MOU was signed by Ram Mohan Mishra, AS & DC(MSME) and CMD (NSIC) with Dr. Arun Kumar Panda, Secretary, MSME, in the presence of Alka Nangia Arora, Joint Secretary, SME, Mercy Epao, Director ...

Timings for fund transfer through RTGS have been extended by one-and-a-half hours to 1800 hrs for the general public from June 1, the Reserve Bank of India said Tuesday. Under Real Time Gross Settlement (RTGS) System, there is a continuous and real-time settlement of fund-transfers, individually on a transaction by transaction basis (without netting). The RTGS system is primarily meant ...

Equity benchmark Sensex Friday shot up over 623 points to close at a record high of 39,434.72 as investors felt assured of policy stability after a decisive mandate for the Narendra Modi-led BJP in the general elections. The NSE Nifty also surged over 187 points to close at a fresh lifetime high of 11,844.10. During the week, which remained abuzz ...

According to sources, Oriental Bank of Commerce, Andhra Bank, Allahabad Bank may merge in PNB. According to sources, the Center has tried to merge the small and regional banks running in the deficit in a big bank so that they could reduce the debt and provide better facilities to the customers. After the new government comes, this proposal of merger ...

Benchmark Sensex zoomed over 1,422 points and the NSE Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections. The 30-share index ended 1,421.90 points, or 3.75 per cent, higher at 39,352.67. During the day, the gauge hit a high of 39,412.56 and ...

The BSE Sensex soared 537 points and the NSE Nifty reclaimed the 11,400 level Friday in a broad-based rally led by banking and auto stocks ahead of exit poll results, despite global headwinds. The 30-share BSE benchmark closed 537.29 points, or 1.44 per cent, higher at 37,930.77. It hit an intra-day high of 38,001.13 and a low of 37,415.36. Similarly, ...

The BSE Sensex ended 203.65 points lower after a volatile session Wednesday as investors took money off the table amid mixed global cues. After gyrating over 500 points, the 30-share BSE benchmark closed 203.65 points, or 0.55 per cent, lower at 37,114.88. The index hit an intra-day low of 37,047.87 and a high of 37,559.67. Similarly, the broader NSE Nifty ...

Domestic passenger vehicle (PV) sales declined 17.07 per cent to 2,47,541 units in April from 2,98,504 units in the year-ago month. Domestic car sales declined 19.93 per cent to 1,60,279 units compared to 2,00,183 in April 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Motorcycle sales last month declined 11.81 per cent to 10,84,811 units ...

Country’s largest lender SBI Friday said it has reported net profit of Rs 838.40 crore in fourth quarter of 2018-19 fiscal on a standalone basis as non-performing assets (NPAs) came down. The state-owned lender had witnessed a net loss of Rs 7,718.17 crore during the corresponding January-March quarter of 2017-18. Income (standalone) during the March quarter of 2018-19 rose by ...