Jalan Panel may recommend Rs 50Kcr transfer from contingency fund

New Delhi (IANS) The Bimal Jalan panel, which is looking into the size of capital reserve that the Reserve Bank of India should hold, may recommend transfer of Rs 50,000 crore to the Centre from the contingency fund. The panel will submit its report…

IGE says Gangwal limited his financial risks in IndiGo

New Delhi (IANS) InterGlobe Enterprises (IGE), a promoter of IndiGo, said on Sunday that Rakesh Gangwal has always limited his financial risk in the airline and also alleged that he pushed for selling the business at difficult times.

In a bid…

Infosys net up 5.1% yearly, down 6.8% quarterly

Bengaluru (IANS) Global software major Infosys on Friday reported Rs 3,798-crore consolidated net profit for the first quarter (Q1) of fiscal 2019-20, registering 5.1 per cent annual growth from Rs 3.612 crore in the same period a year ago.

Sequentially,…

Sensex down 40 pts ahead of CPI, IIP

Mumbai (IANS) Sensex and Nifty traded slightly lower during the early trade on Friday ahead of the release of key data points, Consumer Price Index (CPI) and Index of industrial production (IIP).

IIP data for May and CPI inflation for June…

Banks in big loss or under PCA to be barred from buying NBFC assets

New Delhi (IANS) State-run lenders currently under the RBI's Prompt Corrective Action (PCA) framework on account of bad loans and heavily loss making banks may not be allowed to buy the pooled retail assets of non-banking finance companies (NBFCs)…

SBI waives charges on online transactions

New Delhi (IANS) Lending major State Bank of India (SBI) on Friday said that it has waived charges on RTGS and NEFT transactions with effect from July 1.

In a statement, the bank also announced waiver of charges on IMPS (immediate payment service)…

Railways plans to add 4 lakh berths by leaving power cars

New Delhi (IANS) The Indian Railways which carries over 12 lakh passengers every day, aims to provide four lakh more berths for passengers every day from October when it will adopt the technology to generate power from the locomotives instead…

KRAS bags $100 mn order for 1,000 Barak missiles

Hyderabad (IANS) Kalyani Rafael Advanced Systems (KRAS) on Thursday received a $100 million contract from top Israeli arms firm Rafael to supply 1,000 Barak-8 MRSAM missile kits for the Indian Army and Air Force.

KRAS, India's first private…

After banks, govt may recapitalise PSU insurers prior to restructuring

New Delhi (IANS) After banks, the government may capitalise public sector general insurers this year to improve their finances and get them ready for the next wave of restructuring.

Sources in the Finance Ministry said that management consultancy…

Markets open on positive note

Mumbai (IANS) The 30-scrip Sensitive Index (Sensex) on Wednesday after opening on a negative note turned positive soon after.

The Sensex of the BSE opened at 38,701.99 points and touched a high of 38,854.85 points. The Sensex touched a low…