RBI shuts Banaras Merchantile Co-op Bank citing inadequate capital, earning prospects

Mumbai (IANS) The Reserve Bank of India (RBI) has cancelled the licence of Banaras Merchantile Co-operative Bank Limited, Varanasi.  

The Reserve Bank said the licence of the bank has been cancelled as it does not have adequate capital and…

Sensex crosses 80,000 for first time, banking stocks lead rally

Mumbai (IANS) Indian equity indices opened at record high on Wednesday following a rally in the banking stocks. Sensex and Nifty made a new all-time high of 80,039 and 24,292 respectively. 

The Broader market remains positive. On the National…

India records robust services sector growth in June, hiring at 2-year high: HSBC

New Delhi (IANS) Growth in India's services sector accelerated in June on the back of robust domestic demand and a record rise in export orders, according to an HSBC survey released on Wednesday.

The strong demand also led to service providers…

SEBI issues show-cause notice to Hindenburg, Nathan Anderson over Adani report

Mumbai (IANS) The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to Hindenburg Research, Nathan Anderson and the entities of Mauritius-based foreign portfolio investor (FPI) Mark Kingdon for trading violations in the…

Railway freight earnings shoot up by 11.1 pc to Rs 14,798 crore in June

New Delhi (IANS) Indian Railways has achieved a freight loading of 135.46 million tonnes in June this year which represents a robust 10.07 per cent increase over the corresponding figure of 123.06 million tonnes in the same month last year, according…

Mahindra logs 11 pc growth in overall auto sales for June at 69,397 units

New Delhi (IANS) Automaker Mahindra & Mahindra (M&M) on Monday announced that its overall auto sales for June stood at 69,397 vehicles, a growth of 11 per cent, including exports. 

In the Utility Vehicles (UV) segment, the company sold 40,022…

RBI inks pact to link UPI with 4 ASEAN countries for instant cross-border retail payments

Mumbai (IANS) Reserve Bank of India (RBI) on Monday announced that it has now joined Project Nexus with the four ASEAN countries to create a platform to facilitate instantaneous cross-border retail payments.

Nexus, conceptualised by the Innovation…

Sensex jumps 443 points, IT stocks lead rally

Mumbai (IANS) Indian stock indices closed in green on Monday following the rally in IT shares. At closing, Sensex was at 79,476, up 443 points or 0.56 per cent and Nifty was up 131 points or 0.55 per cent, at 24,141. 

During the day, midcap…

GST collection jumps 7.7 pc in June to Rs 1.74 lakh crore

New Delhi (IANS) India's gross GST collection rose to Rs 1.74 lakh crore in June this year which represents a 7.7 per cent increase over the same month last year, according to sources. 

This takes the total GST (goods and services tax)…

Indian equity markets surge nearly 14 pc in June quarter, leads in world top 10

Mumbai (IANS) Indian stock indices gave a stellar performance in the June quarter of FY 2024-25. During the April- June period, Indian stock market capitalisation increased by 13.8 per cent, the highest among the top 10 stock markets.