RIL's repositioning as consumer, tech company to support stock price: J P Morgan

New Delhi (IANS) The core energy business of Reliance Industries Limited (RIL) could be staring at a multi-year slump, but "repositioning as a consumer/technology company" should continue to support stock price, according to US brokerage, JP Morgan.

SBI cuts MCLR, offers new term-deposit product for senior citizens

New Delhi (IANS) The country's largest lender State Bank of India (SBI) on Thursday reduced its MCLR by 15 bps across all tenors with effect from May 10 while offering a new product for senior citizens in Retail Term Deposit segment.

The…

Yes Bank posts surprise profit in Q4, deposits down 54% in last year

New Delhi (IANS) Yes Bank, which was put under a moratorium by the government, has registered a surprise profit of Rs 2,629 crore due to an extraordinary item of write off of T1 bonds.

The bank has a loss of Rs 3,668 in the fourth quarter of…

Equity indices trim initial gains, Sensex up 280 points

Mumbai (IANS) The key Indian equity indices trimmed gains on Tuesday after a gap up opening, with the BSE Sensex now trading 280 points higher.

Healthy buying was witnessed in energy and oil and gas stocks.

During initial trade Sensex…

BHEL may sell, offer manufacturing units to global players

New Delhi (IANS) State-owned Bharat Heavy Electricals Ltd (BHEL) may sell four to five units of its non-core manufacturing business under government's asset monetisation process during the ongoing financial year.

The government also plans…

After Facebook, Silver Lake to invest Rs 5,655 crore in Reliance Jio Platforms

Mumbai, May 4 (IANS) After Facebook invested over Rs 43,000 crore in Jio platforms last month, Reliance Industries Limited (RIL) on Monday announced that US private equity firm Silver Lake will invest Rs 5,655 crore (nearly $750 million) into Jio…

Silver Lake to invest Rs 5,655.75 cr in Jio Platforms at an equity value of Rs 4.90 lakh cr

Mumbai (IANS) In yet another major development, Reliance Industries Limited ("Reliance Industries") and Jio Platforms Limited ("Jio Platforms") announced on Monday morning that Silver Lake will invest Rs 5,655.75 crore into Jio Platforms.

This…

Transactions using Aadhar-enabled payment system doubles during lockdown

New Delhi (IANS) Digital technology has helped in a big way to enable provision of banking services at the grassroots level during the period lockdown, the Finance Ministry said on Monday.

This can be gauged from the popularity of the Aadhaar-enabled…

RBI cancels banking license of CKP Co-operative Bank

Mumbai (IANS) The Reserve Bank of India has cancelled the banking licence of CKP Co-operative Bank, as its financial position has become unsustainable.

Accordingly, the RBI took the decision on April 28 which came into effect at the close of…

India's NPS bucks Covid induced downtrend; sees rise in AUM

New Delhi (IANS) India's National Pension System (NPS) has bucked the downtrend triggered by Covid-19 outbreak and the subsequent nationwide lockdown to contain it. During the first three weeks of April, the scheme along with the Atal…