Business

The country’s largest lender SBI on Friday reported a nearly six-fold jump in its consolidated net profit to Rs 3,375.40 crore for the second quarter ended September 30. The bank’s net profit was Rs 576.46 crore in the July-September quarter of previous fiscal. Its total income of the entire SBI group rose to Rs 89,347.91 crore in the quarter under ...

Union Finance Minister Nirmala Sitharaman led the Indian delegation to the Annual Meetings Plenary session of the International Monetary Fund (IMF) and the World Bank Group held in Washington DC yesterday . She also attended the Working Lunch Session of the Development Committee (DC), the ministerial-level committee of the IMF and the World Bank. In the DC Lunch, the members ...

SpiceJet plans to induct wide-body planes early next year and is looking at various options as the budget airline steers ahead with its ambitious expansion plans, according to a senior official. The low-cost carrier is looking at options from Boeing and Airbus. An industry source said that SpiceJet might bid for Air India’s wide-body operations in case the government puts ...

State-owned fuel retailers on Friday decided to defer their decision to suspend jet fuel supplies to Air India after the national carrier promised to make regular payments to clear outstanding dues, officials said. The three state-owned oil companies – Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) – had earlier this month threatened to snap ...

Gold prices on Thursday declined Rs 105 to Rs 38,985 per 10 gram in the national capital on a stronger rupee and weak global cues, according to HDFC Securities. However, silver surged by Rs 509 to Rs 46,809 per kg here from its previous close of Rs 46,300 per kg. On Wednesday, gold closed at Rs 39,090 per 10 gram. ...

Around 50 depositories of the scam-hit Punjab and Maharashtra Cooperative Bank staged a protest outside the RBI demanding revoking restrictions on cash withdrawal, currently capped at Rs 40,000 over a six-month period. The protesters marched from Patel Chowk to Reserve Bank of India protesting against the suspension of banking operation since September 24. According to police, the PMC bank depositors ...

E-commerce giant Flipkart on Tuesday said it is setting up a new local entity – Flipkart Farmermart – that will focus on food retail in India, as it looks to take on arch-rival Amazon in the segment. According to sources, Flipkart is expected to invest about Rs 2,000 crore initially in the business and pump in more funds as required ...

Union Minister of Commerce & Industry and Railways, Piyush Goyal participated in the 3rd edition of India Energy Forum2019by CERAWeek in New Delhi today. Piyush Goyal was part of the Indian Ministerial panel along with R. K. Singh, Minister for New and Renewable Energy and Pralhad Joshi, Minister of Coal and Mines. The discussions were conducted by Daniel Yergin, Pulitzer ...

Equity benchmark BSE Sensex rose over 150 points on Monday led by gains in HDFC Bank, ITC and HUL, amid positive global cues and foreign fund inflow. After opening on a volatile note, the 30-share index swung over 200 points in early trade. It was trading 105.79 points, or 0.28 per cent, higher at 38,232.87 at 0945 hours. Similarly, the ...

Indian Railways has added a large amount to its coffers by selling scrap. According to the details released from the railways in response to an RTI application, the department has earned Rs 35,073 crore from scrap in the last 10 years. The details of the scrap issued by the Ministry of Railways in the last 10 years, shows that the ...