Banks raise multiple queries on CFM ARC's bid for VIPL

Mumbai (IANS) The lenders of Vidarbha Industries Power Ltd. (VIPL), a subsidiary of Reliance Power, have raised multiple queries on CFM Asset Reconstruction Pvt Ltd 's bid.

The banks have asked the Ahmedabad-based asset reconstruction company,…

RBI to levy penalties on banks that lose property papers of borrowers

New Delhi (IANS) Banks may have to compensate borrowers and also pay a penalty if they lose the original property documents of loan seekers.

This could soon become a possibility if the RBI accepts the recommendations of a high level committee,…

'Economy expected to grow in range of 7.5% in current fiscal'

New Delhi (IANS) Chief Economic Advisor (CEA) V. Anantha Nageswaran on Friday said the economy is expected to grow in a range of 6.5 per cent to 7.5 per cent in the current fiscal, buttressed by a strong growth momentum seen in investments and efficiency…

Soaring air fares play spoiler for family holidays

Lucknow (IANS) Soaring air fares to various prime tourist destinations are now making people cancel holiday plans this summer.

Air fares to Srinagar, Goa, Mumbai, Coimbatore, Kolkata, Dehradun and Kathmandu have soared beyond the reach of middle-class…

Meta Verified badge arrives in India, starts from Rs 699

New Delhi (IANS) Meta on Wednesday brought its verified subscription bundle on Instagram and Facebook to India that includes a verified badge that authenticates accounts with government ID, proactive account protection and access to account support.

An expected status quo: Monetary Policy review June 2023

The MPC kept rates and stance unchanged, the latter with the expected dissent from Prof. Varma. While the rate inaction was expected by almost everyone, there was some debate on whether a more qualified stance may now be forthcoming. In the event,…

RBI MPC retains repo rate at 6.5%, projects 6.5% GDP & 5.1% inflation for FY24

Chennai (IANS) Not belying the expectations, the Reserve Bank of India's Monetary Policy Committee (MPC) did not change the repo rate from 6.50 per cent while projecting gross domestic product (GDP) and inflation at 6.5 per cent and 5.1 per cent…

Cabinet okays up to 10% hike in MSP of several commodities

New Delhi (IANS) Days after the government imposed stock limits on Tur and Urad to prevent their hoarding owing to poor availability of these commodities, the Union Cabinet on Wednesday approved one of the highest rises in minimum support price (MSP)…

'India's aircraft fleet doubled in past nine years, pvt investment to be over Rs 70k cr'

New Delhi (IANS) Union Civil Aviation Minister Jyotiraditya M. Scindia on Wednesday said there is a significant expansion in India's aircraft fleet, which has gone over 700 aircraft - rising by over 100 per cent within the past nine years.

Govt removes ceiling on procurement of tur, urad, masur dals

New Delhi (IANS) In order to boost domestic production, the government has removed ceiling for procurement of tur, urad, and masur dals under price support scheme (PSS) for 2023-24.

According to official sources, farmers are free to sell any…