115: 1,000 swap ratio for amalgamation of Indian Bank-Allahabad Bank

Chennai (IANS) Public sector Indian Bank on late Thursday announced a share swap ratio of 115 equity shares of Rs 10 each of Indian Bank for every 1,000 shares of Rs 10 each of Allahabad Bank.

As per the scheme, Allahabad Bank will be amalgamated…

Ruias-led Essar committed to India's growth story

Mumbai (IANS) The Ruias-led Essar is committed to the India growth story after an aggressive debt reduction of Rs 1.4 lakh crore over last three years.

This is the message Ravi Ruia and Prashant Ruia have conveyed to banks and fund houses just…

2 bank unions announce strike on March 27 opposing mergers

Chennai (IANS) Two major unions in the banking sector - All India Bank Employees' Association (AIBEA) and All India Bank Officers Association (AIBOA) will go on strike on March 27 opposing the mega bank mergers approved by the Union Cabinet on…

ED files fresh money laundering case against Naresh Goyal

Mumbai (IANS) The Enforcement Directorate (ED) on Wednesday filed a fresh case of money laundering against Naresh Goyal, former chairman of the grounded Jet Airways, and the airlines.

A source said that the money laundering case was registered…

Paytm offices shut after employee tests positive for coronavirus

New Delhi (IANS) India's leading digital payment platform Paytm on Wednesday decided to shut its offices in Gurugram and Noida for at least two days after one of its employees who had recently travelled to Italy tested positive for COVID-19.
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Cabinet nod for PSU banks merger

New Delhi (IANS) The Union Cabinet on Wednesday approved PSU bank amalgamation along with a scheme of merger submitted by the merging banks.

Finance Minister Nirmala Sitharaman said on Wednesday that the banks are fully ready for April 1 deadline…

Sensex slumps 700 points on coronavirus fears

Mumbai (IANS) The Indian equity indices slumped on Wednesday afternoon with the BSE Sensex trading over 700 points lower, on persistent fears of coronavirus turning into a pandemic, along with increasing confirmed cases in India.

There are…

Sensex slips over 100 points

Mumbai (IANS) The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.

The Sensex of the BSE opened at 38,715.72 and touched a high of 38,791.70 and a low of 38,561.58 points after…

Direct tax collections at Rs 7.52 lakh cr till Jan 31: Govt

New Delhi (IANS) Government has collected over Rs 7.52 lakh crore as direct taxes till January 31 of the current fiscal, Rajya Sabha was informed on Tuesday.

According to the Revised Estimate (RE), target for collection of direct taxes for…

RBI steps in to calm financial markets

Mumbai (IANS) In a bid to calm the Indian financial markets the Reserve Bank of India on Tuesday said that it is ready to take "appropriate actions" to ensure the orderly functioning of financial markets.

Central banks across the world -- most…