US Fed slashes rates to near zero over COVID-19

Washington (IANS) The US Federal Reserve has cut its benchmark interest rate by a full percentage point to near zero and will increase its bond holdings by at least $700 billion amid mounting fears over COVID-19 outbreak.

"The coronavirus outbreak…

Market in Red: Sensex falls 2,100 points, Nifty below 9,500

Mumbai (IANS) Coronavirus fears continued to weigh on the investor sentiments as the BSE Sensex plunged over 2,100 points on Monday.

The Nifty50 on the National Stock Exchange also dropped over 500 points to fall below the 9,500 mark.

At…

AGR: Vodafone Idea pays Rs 3,000 cr, says principal amount paid

New Delhi (IANS) Vodafone Idea on Friday has said that it has cleared the principal amount towards AGR dues as it paid Rs 3,354 crore to the Department of Telecommunications (DoT) on Monday.

The payment comes a day ahead of the Supreme Court's…

Karnataka Bank allays fear and panic about safety of deposits

Mangaluru (IANS) The Karnataka Bank has reached out to its shareholders to allay any fear and panic about the safety of deposits and health of the Bank, and not to be carried away by any misleading and concocted reports on India Today channel about…

Stock indices expected to bounce back next week

New Delhi (IANS) The key Indian stock indices -- S&P BSE Sensex and the NSE Nifty50 -- might get a reprieve from the massive bouts of volatility that have been witnessed lately, as market observers predict a temporary bounce back.

The two key…

Vistara bans Kamra from flights till April 27

New Delhi (IANS) Full service carrier Vistara has banned stand-up comedian Kunal Kamra from availing its services till April 27 for "unacceptable behaviour" onboard an IndiGo's flight in January this year.

"Based on the 'Order'…

New CEO of Yes Bank appointed; Q3 results scheduled for Saturday

Mumbai (IANS) The central government has appointed former SBI banker Prashant Kumar as the new Chief Executive Officer of the financially troubled Yes Bank.

Accordingly, the former Chief Financial Officer and Deputy Managing Director of
…

Dow plunges nearly 10% in worst session since 1987 crash

New York (IANS) US stocks extended losses on Thursday with the Dow plunging more than 2,300 points, or about 10 percent, at the close amid coronavirus fears.

The Dow Jones Industrial Average fell 2,352.60 points, or 9.99 per cent, to 21,200.62.…

CEA Subramanian suggests RBI can look into rate cut

New Delhi (IANS) With stock markets plunging to historic lows, and investor sentiments ebbing, the Chief Economic Adviser Krishnamurthy Subramanian on Friday suggested that the Reserve Bank of India (RBI) can consider reducing policy rates as inflation…

HDFC Bank, Kotak join Yes Bank rescue plan

Mumbai, March (IANS) HDFC Bank and Kotak Mahindra Bank joined the private banks which have come to the rescue of the crisis-hit Yes Bank. HDFC Bank on Friday said that its board has approved an investment of Rs 1,000 crore in Yes Bank and Kotak Mahindra…