Business

DAINIK NATION BUREAU Gold prices rallied for the second day on the back of positive global cues, rising by Rs 200 to Rs 30,400 per ten gram at the bullion market on Saturday. In Dehradun pure gold i.e. 24 carat gold price was Rs 30150 per 10 gram, 23 carat gold price was Rs 28900 per 10 gram and 23 ...

As much as 99 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system, RBI said today, prompting opposition to question the efficacy of the government’s unprecedented note ban decision to curb black money and corruption. The Reserve Bank, which has so far shied away from disclosing the actual number of junked currency ...

The Reserve Bank will launch Rs 200 banknotes for the first time tomorrow, increasing availability of lower denomination currency in the system. The bright yellow coloured notes will hit the market just a day after the announcement by Finance Minister Arun Jaitley that the government has given go-ahead to the RBI to issue the new currency bill. “The Reserve Bank ...

Services at public sector banks may take a hit on Tuesday as all unions under the aegis of UFBU have threatened to go on strike against the government’s proposed consolidation move besides raising a host of other demands. Most banks have already informed their customers that functioning of branches and offices will be impacted if the strike takes off. Operations ...

Telecom operators may face a maximum penalty of Rs 10 lakh for call drops which will now be measured at mobile tower level instead of telecom circle, as per the new quality of service rules issued by regulator TRAI on Friday. “We have proposed financial disincentive in the range of Rs 1-5 lakh. It is a graded penalty system depending ...

A strong global trend and intensifying local demand turned out to be a potent mix for gold prices that surged Rs 300 to Rs 30,050 per 10 grams today. Silver surpassed the Rs 40,000 level again with a sharp jump of Rs 900 at Rs 40,200 per kg, with industrial units and coin makers stepping up demand. Minutes from Federal ...

The Reserve Bank of India (RBI) today said it will pay Rs 30,659 crore dividend to the government for the year ended June 30, less than half of what it paid in the previous year. The central bank had in the previous year paid Rs 65,876 crore dividend to the government. “The Reserve Bank’s Central Board, at its meeting held ...

The government today asserted that the new 500 and 2,000 rupee notes have single unique dimension, a statement that came on a day when opposition parties led by the Congress stalled proceedings in the Rajya Sabha alleging that notes having different sizes. “Bank notes in each denomination has a distinct dimension. The size of new design Rs 500 bank note ...

Recently, Minister of State for Finance Santosh Kumar Gangwar in a written reply informed the Rajya Sabha that as on July 27, 11,44,211 PANs have been identified and deleted or de-activated in cases where multiple PANs were found allotted to one person. A person cannot hold more than one PAN. A penalty of Rs. 10,000 is liable to be imposed ...

The Reserve Bank today slashed benchmark lending rate by 0.25 per cent to 6 per cent citing reduction in upside risk to inflation, a move that will lower EMIs for home, auto and personal loans. This is the first rate cut since October 2016 and the interest rate is now at 6-year low. In line with record low retail inflation, ...