Business

DAINIK NATION BUREAU Chief Minister Trivendra Singh Rawat has said that benefit of the banking facilities should reach remote areas and weaker sections. For this, banks will have to work like a mission. He said that in rural areas, focus on the financial inclusion and financial literacy. Chief Minister was addressing the 65th meeting of the State Level Bankers Committee. ...

DAINIK NATION BUREAU The board of ICICI Bank has begun looking for a new chairman as the term of the incumbent, MK Sharma, expires at the end of this month and he may not want a second term. Veteran banker and former Bank of Baroda chairman and managing director MD Mallya is the frontrunner to succeed Sharma, two people aware ...

DAINIK NATION BUREAU It is a first from a conservative central bank that usually prefers to play it safe. But in a break from the past, the Monetary Policy Committee (MPC) is meeting a day ahead of schedule and for three days (June 4-6), instead of the usual two. Indeed, even as you read this, MPC is meeting to wrestle ...

Country’s largest lender SBI, which has not been able to invest in fintech startups despite earmarking funds, is now looking to modify rules to kickstart the infusion, a top official has said. “We are a public institution and investments in startups are generally considered very risky. We understand that traditional way of investing will not work,” chairman Rajnish Kumar told ...

A day after petrol and diesel prices were slashed by 1 paise per litre, the oil companies on Thursday reduced the prices further by 7 paise per litre for petrol and 5 paise per litre for diesel. The reduction in fuel prices on the second consecutive day comes after 16 days of incessant rise by oil firms. There was confusion ...

The two-day nationwide strike called by employees and officers of various state-run banks from May 30 (Wednesday) to May 31 (Thursday) is likely to hit banking operations. The strike may hit ATM services badly as monthly salary credits are expected on Thursday. Though online transaction will not be impacted, ATM closures could affect cash withdrawals. The Bank Union have called ...

Gold rallied by Rs 120 to Rs 32,000 per ten gram on increased buying by local jewellers amid strong overseas trend. Silver also strengthened by Rs 300 to Rs 41,400 per kg due to increased offtake by industrial units and coin makers. Traders said increased buying by local jewellers to meet retailers’ demand at domestic spot market and a depreciating ...

State Bank of India (SBI) reported a loss of Rs. 7,718 crore ($1.1 billion) – its biggest ever – in the January-March quarter, as the country’s biggest lender set aside more provisions for bad loans after a change in banking regulation. The loss for the three months to March 31 was deeper than what the market had expected. Analysts on ...

Rise in oil prices may lead to inflationary trends in the country, forcing the Reserve Bank of India (RBI) to hike rates by 0.25 per cent in the August policy review, foreign brokerages said today. The apex bank, however, may opt for a status quo in rates at the forthcoming review in June, they said. “We now expect the RBI ...

State-run Punjab National Bank (PNB) has refused to disclose details of the audit or investigation that led to detection of over Rs 13,000 crore fraud at the company, citing a clause that bars any disclosure that can impede the process of investigating or apprehending the offenders. In reply to an RTI query, the state-owned bank also declined to share copy ...