Government meets fiscal deficit of 3.4% in 2018-19

New Delhi (IANS) The Finance Ministry is believed to have met the revised fiscal deficit target of 3.4 per cent in the last fiscal 2018-19 largely by cutting expenditure, withdrawals from small savings accounts to meet the food subsidy and higher…

No lay-offs or cut in retirement age: BSNL chairman

New Delhi (IANS) Public sector telecom carrier BSNL has said there is no plan to effect any lay-offs in the company, as well as any move to reduce the retirement age although an attractive VRS is underway for "willing" employees.

"Turnaround…

Sensex slips 200 pts after RBI policy outcome

Mumbai (IANS) Sensex turned choppy after the RBI announced lowering of the key lending rate for commercial banks by 25 bps to 6 per cent, in its first monetary policy meet of the new fiscal year. Sensex slipped 200 points during the afternoon session…

Banks, others may lose over Rs 90,000 crore as Videocon sinks

Mumbai (IANS) The beleaguered Videocon Group has admitted to stupendous outstandings to various lenders - public and private - amounting to over Rs 90,000 crore, making it perhaps the biggest corporate bankruptcy case in Indian banking history, official…

Centre pays sovereign guarantees to ADB, KfW for IL&FS

New Delhi (IANS) In a major development in the IL&FS crisis, the government has of late paid up on sovereign guarantees to Asian Development Bank (ADB) and KfW, a state-run bank of Germany, people in the know of the developments said.

Sensex jumps over 100 pts, Nifty crosses 11,700

Mumbai (IANS) The benchmark Sensex traded on a flat to positive note during the early trade on Tuesday after opening over 100 points higher.

The Sensex of the BSE opened at 38,988.57 from its previous close at 38,871.87 on Monday. At 9.36 a.m.,…

Stressed projects could be 'warehoused' post SC order

New Delhi (IANS) The government plans to revive its policy to "warehouse" stressed power assets and bring them back to health gradually after banks got freedom to pursue resolution for these assets following a Supreme Court order declaring…

Traders' union hails SC order on RBI's NPA circular

New Delhi (IANS) The Confederation of All India Traders (CAIT) welcomed Tuesday's Supreme Court order that struck down a controversial RBI circular that mandated they immediately resolve loans of Rs 2,000 crore and above. The court verdict…

Equity indices open in green, Sensex up 270 points

Mumbai (IANS) The key Indian equity indices opened on a positive note on Monday, the first trading day of the financial year 2019-20, with the BSE Sensex trading around 270 points higher.

A rise in the Asian indices, along with healthy buying…

BoB issues shares to Vijaya, Dena Bank shareholders

Mumbai (IANS) Bank of Baroda (BoB) has allotted Rs 52.42 crore worth of shares to the shareholders of the Vijaya Bank and Rs 24.84 crore shares to those of Dena Bank as the merger of the three banks came into effect on Monday.

With the amalgamation,…