Business

IDBI Bank launches repo rate-linked lending

Mumbai,  State-run IDBI Bank has launched a new home loan and auto loan product linked to the Reserve Bank of India’s (RBI) repo rate. IDBI Bank has also introduced bulk deposits linked to the repo, or the central bank’s short-term …

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Sharp rise in RBI income led to record surplus transfer: Kotak

Protecting depositors, taxpayers is public interest RBI

New Delhi,  The Reserve Bank of India’s (RBI) sharp increase in income led it to transfer a record high surplus of Rs 1.76 trillion (lakh crore) to the government, Kotak Securities said on Friday. According to the Kotak report, RBI’s …

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Fall in bank stocks drags Sensex down 1%

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Mumbai,  While seven of the 11 sectors in the Nifty ended in the red causing the Nifty50 to end up below 11,000 on Thursday, the Sensex lost 1 per cent dragged lower by financial sector stocks. Market analysts said that …

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India online store first, retail outlet next: Apple

New Delhi,  Eager to see customers at its first India retail store, Apple on Thursday declared India its next growth hub — first by launching an exclusive online store and then its branded retail outlet later — as the Narendra …

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RBI balance-sheet in FY19 up 13.4% to Rs 41 lakh cr

Protecting depositors, taxpayers is public interest RBI

Mumbai, The balance sheet of RBI swelled by 13.42% from Rs 36.17 lakh crore to touch Rs 41 lakh crore during the 2018-19 due to domestic and foreign investments, according to the annual report of the central bank relased on Thursday. …

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More measures coming to prop up economy: Sitharaman

Guwahati,  Noting that consumption needs a boost, Finance Minister Nirmala Sitharaman on Thursday said that more measures to accelerate economic growth are in the pipeline and would be announced in the coming weeks. She reiterated that spending on infrastructure would …

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Markets end lower as growth worries resurface

Sensex gains nearly 200 points; telecom stocks rise

Mumbai,  Indian equity markets closed lower on Wednesday ahead of the release of the gross domestic product (GDP) data for the first quarter of financial year 2019-20 on August 31, which is expected to indicate slower growth rate for the …

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Kalpataru Power falls 12% on receiving World Bank notice

Mumbai,  Shares of Kalpataru Power Transmission Ltd slumped over 12 per cent on Wednesday after the company said it has received a notice from the World Bank over “process violations” in bids for two projects in Africa. Around 12.45 p.m., …

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Now, robots count cash in ICICI Bank

Mumbai,  Private sector lending major ICICI Bank has become the first in the country to deploy industrial ‘Robotic Arms’ to count millions of currency notes at its currency chests across the country, a top official said here on Wednesday. These …

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Coca-Cola enters India non-alcoholic malt-drink mart

Mumbai,  Beverage major Coca-Cola has entered India’s niche but potentially high-volume non-alcoholic malt drinks market in a big way with its global brand Barbican. The company, which launched pilot project six months back, focuses on the youth. “We introduced Barbican, …

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