Indian economy poised for recovery in FY22: SBI Chairman

Mumbai (IANS) Although the second wave of the Covid-19 pandemic again brought businesses and economic activities to a standstill, Chairman of the State Bank of India (SBI), Dinesh Kumar Khara has expressed hope that the country's economy would…

India's gold imports rose in May, while silver imports decline

New Delhi (IANS) Gold worth $679.16 million (Rs 4,976.07 crore) was imported in May, according to Commerce Ministry data. This is multiple times higher than $76.31 million worth of gold imported in May last year amid a nationwide lockdown.

Further,…

RBI restricts continuous tenure of UCB MDs to 15 years

Mumbai (IANS) The Reserve Bank of India has limited the maximum continued term of managing directors and whole time directors (WTD) of urban cooperative banks (UCBs) to 15 years in a series of steps taken to ensure professional management of these…

Equity indices in green, Sensex up 200 points

Mumbai (IANS) The key Indian equity indices traded in the positive territory on Thursday morning with the BSE Sensex rising over 200 points.

IT stocks witnessed healthy buying so far, while heavy selling in oil and gas and power stocks capped…

S&P lowers India's FY22 growth to 9.5%

New Delhi (IANS) Ratings agency S&P Global Ratings on Thursday lowered India's economic growth forecast to 9.5 per cent for this fiscal from an earlier prediction of 11 per cent.

According to the ratings agency, India's growth in fiscal…

RBI issues guidelines for NBFCs' dividend declarations

Mumbai (IANS) To infuse greater transparency along with a uniform practice, the Reserve Bank of India on Thursday issued guidelines for NBFCs to declare dividends.

These guidelines shall be effective for declaration of dividends from the profits…

Equity indices shed gains post gap-up opening

Mumbai (IANS) The key Indian equity indices pared their initial gains after a gap-up opening to trade on a flat-to-negative note on Wednesday morning.

Selling pressure was witnessed in oil and gas, power and banking stocks.

Around 10.15…

For travel operators, second wave clogs rebound route, revenues to touch only 40% of pre-pandemic levels in FY22

Mumbai (IANS) The tours and travel industry, which was beginning to recover before the second wave of Covid-19 infections began, will now see revenue this fiscal reaching only 35%-40% of the pre-pandemic levels, ratings agency Crisil said on Wednesday.

DoT further liberalises norms for Other Service Providers

New Delhi (IANS) In a boost to the BPO sector in the country, the Department of Telecommunications (DoT) on Wednesday further liberalised the guidelines for Other Service Providers (OSPs).

These entities are Business Process Outsourcing (BPO)…

Record run continues, Sensex crosses 53,000 mark

Mumbai (IANS) Bull run continued on the Indian equity market on Tuesday with the BSE Sensex crossing the 53,000-mark for the first time.

Oil and gas stocks led the rise in the market.

Sensex has touched an all-time high of 53,018.71…