Business

India, the world’s third-biggest oil importer, is considering cutting oil purchases to soften the blow from high crude oil prices and declining rupee, Indian Oil Corp (IOC) Chairman Sanjiv Singh said Monday. State refiners are looking at optimising crude oil inventory levels without in any way affecting fuel supplies in the domestic market, he told PTI. Refiners maintain 7-8 days ...

DAINIK NATION BUREAU BJP Member of Parliament Subramanian Swamy Sunday claimed that the value of the rupee was falling in comparison to the United States dollar because black money was “leaving” India. Swamy was delivering a lecture titled “Indian Cultural Heritage and Its Importance” in Margao Sunday morning. Stating that the fall in the value of the rupee had nothing ...

DAINIK NATION BUREAU Despite Stock Exchange Bureau of India (SEBI) guideline dalal street witnessed bloodbath on Friday. With this decline one thing is clear that market regulator failed to protect the investors money and they become ploy of brokers. Most of the share fallen more than 10 percent and market did not apply circuit and investors lost their hard earned ...

DAINIK NATION BUREAU The Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi on Tuesday made a string of announcements after the conclusion of its board meeting. Tyagi said that the regulator will soon release a revised circular on KYC requirements and eligibility norms for foreign portfolio investors (FPIs). The SEBI Board considered proposed amendments of the Khan Working ...

The government will merge state-owned Vijaya Bank, Dena Bank and Bank of Baroda to create India’s third largest lender, a top government official said on Monday. Boards of the three banks will examine amalgamation proposal, the department of financial services secretary, Rajeev Kumar, told a news conference in New Delhi. He said the banking sector needs reforms and the government ...

Baba Ramdev’s Patanjali Ayurved Thursday forayed into dairy, mineral water and frozen vegetable segment by launching five products range. Patanjali’s dairy products include cow milk, curd, chach and paneer. Frozen vegetables range include peas, mix veg, sweet corn and potato finger. Other segments include cattle feed and feed supplements, solar panels and Divya Jal. Ramdev said that Patanjali’s cow milk ...

DAINIK NATION BUREAU ICICI Bank’s board and senior management faced one of their toughest questions from shareholders on the allegations troubling the lender for over five months now. The country’s largest private bank held its 24th annual general meeting (AGM) on September 12 in Vadodara. Shareholders expressed disappointment over ‘total failure of corporate governance’, performance and accountability of the directors, especially ...

DAINIK NATION BUREAU Over optimistic bankers, slowdown in government decision making process and moderation in economic growth mainly contributed to the mounting bad loans, said former RBI Governor Raghuram Rajan in a note to Parliamentary panel. In a note to Chairman of Estimates Committee Murli Manohar Joshi, he said “A variety of governance problems such as the suspect allocation of ...

DAINIK NATION BUREAU Fuel prices continued their record-breaking run on Tuesday, as petrol are being sold Rs 81.36 a litre in Dehradun and Rs 87.39 in Mumbai. Do you know why fuel prices are higher in India if we compare with our neighbouring countriews? As we aware that neighbouring states like UP, Uttarakhand and Bihar people are consistently crossing international ...

The BSE Sensex plunged over 400 points in afternoon session Monday after the rupee breached 72.50 mark against the US dollar for the first time ever amid weak Asian cues. While, rupee continued its free fall hitting a new low of 72.67 due to a strengthening dollar and widening trade deficit. Global market sentiment turned weak after US President Donald ...