Business

DAINIK NATION BUREAU Jet Airways has terminated the services of two senior pilots who were involved in a mid-air brawl while operating London-Mumbai flight on January 1. A senior pilot had allegedly slapped a female commander during the flight and following the incident the two were grounded by the airline. “Consequent to the review of the events on board Flight ...

The Central Government notified the Companies (Amendment) Act, 2017 (Amendment Act) on 3rd January, 2018. The provisions of this Amendment Act shall come into force on the date or dates as the Central Government may appoint by notification(s) in the Official Gazette. A few provisions in the Amendment Act have important bearing on the working of the Insolvency and Bankruptcy ...

DAINIK NATION BUREAU Finance Ministry data has revealed that more than 1,400 entities account for bad loans of Rs 100 crore or more in 21 public sector banks (PSBs). Increasing NPAs have curtailed the lending capacity of state-owned banks. In State Bank of IndiaBSE -0.60 % (SBI) alone, 265 accounts had bad loans of more than Rs 100 crore each, worth ...

State-owned Air India has tied up with UAE-based First Abu Dhabi Bank as well as Standard Chartered Bank and Mashreq Bank to avail short-term loans for acquiring three Boeing 777 aircraft, Union minister Jayant Singh said on Thursday. Two of the aircraft are to be used for ferrying VVIPs, the minister of state for civil aviation said in a written ...

The BSE Sensex on Friday soared to the life-time high of 34,175.21 and the NSE Nifty scaled the historic 10,562.80 mark in late morning trade as banking, metal and realty stocks advanced following continuous foreign fund inflows and increased buying by domestic institutional investors. The 30-share Sensex spurted 205 points, or 0.60 per cent, to all-time high of 34,175.21 points, ...

DAINIK NATION BUREAU The State Bank of India is planning to reduce its minimum balance requirement after a report that said the lender profited from fines. The minimum balance limit is currently Rs 3,000 in urban branches. SBI had originally increased the minimum balance requirement to Rs 5,000 in June, 2017. However, following public backlash the bank brought down the ...

DAINIK NATION BUREAU To ensure that more numbers of the Rs. 200 denomination note is dispensed to the general public the RBI has categorically instructed banks to recalibrate ATMs. As part of its efforts to increase the supply of lower denomination notes. Although RBI official has refused to comment on it but sources has confirmed that it is going to ...

Ending its four-session rise, the rupee today retreated from its multi-year high and ended marginally lower by 5 paise at 63.53 against the US currency on fresh bouts of dollar demand from importers and banks. However, a stream of robust capital inflows from foreign investors and large corporates largely limited the fall. In the last four-day surge, the Indian currency ...

The Finance Ministry today cautioned that virtual currencies are not legal tender and such currencies have no protection. Noting that there has been a phenomenal increase in recent times in the price of virtual currencies (VCs) including Bitcoin, in India and globally, it said the VCs don’t have any intrinsic value and are not backed by any kind of assets. ...

US-based athletic footwear brand Skechers has taken India’s top online marketplace Flipkart to court after it was revealed that some third party sellers were selling counterfeit products of its brand online. Earlier police had conducted raids at seven warehouses in Delhi and Ahmedabad to recover fake merchandise from sellers Retail Net, Tech Connect, Unichem Logistics and Marco Wagon who are ...