Business

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 ...

DAINIK NATION BUREAU All those account holders of the erstwhile banks which were merged with State Bank of India (SBI) have to get cheque books bearing the new IFSC code by December 31, 2017. The earlier deadline set by SBI was September 30, 2017. New cheque books The account holders of banks such as Bharatiya Mahila Bank, State Bank of ...

Shrugging off the temporary setbacks from demonetisation and the introduction of the Goods and Services Tax (GST), India’s economy has still caught up with that of France and the UK and will have overtaken them both to become the world’s fifth largest economy in dollar terms in 2018, a new report said today. According to statistics produced by Centre for ...

State-owned Bharat Sanchar Nigam Ltd (BSNL) is set to launch its 4G services from Kerala next month, followed by Odisha, a top company official said. The telecom corporation hopes that the ensuing 4G launch on Long Term Evolution route (a standard for high-speed wireless communication) will enable its mobile customers to enjoy faster data speeds and improve its user experience. ...

DAINIK NATION BUREAU Reliance Jio has added two new plans to its portfolio. The new Jio 199 and Jio 299 plans – being dubbed Happy New Year 2018 plans by the telco – aim to offer daily data benefits to those with limited budgets. Apart from daily data benefits, the two new plans come with free voice calling, national roaming, ...

Buoyed by the BJP’s electoral success in Gujarat and Himachal Pradesh, the Sensex on Tuesday rallied 143 points as it moved closer to an all-time high. Firm Asian stocks on bets that US tax reforms Bill will go through supported the uptrend. The NSE Nifty wrested control of the crucial 10,400-mark. In the sectoral space, all indices were up, driven ...