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RBI leaves key rates unchanged as inflation remains above 4%
Monetary policy must continue to be actively disinflationary, RBI...
GIC Re net profit jumps 27% to Rs1,518 crore in Oct-Dec Qtr, further reduces loss making Crop biz
`Our results during the quarter are more or less as per...
State Bank of India says a 49% stake in Yes Bank will cost $331 million
“The survival of the bank is a must,” Kumar told reporters at a news conference, adding that several investors had approached SBI to form a consortium to pick up the 49% stake. He declined to name any of the investors.
Tata Motors asked to pay Rs3.5 lakh compensation for Indigo’s misleading advertisement
Pradipta Kundu, who purchased a Tata Indigo in 2011 after seeing an advertisement which claimed its mileage to be 25 kilometres per litre, was disappointed to find out that the car did not provide the promised mileage. The advertisement had also claimed that it was India’s most fuel-efficient car and that it was an offer for a limited period. Kundu had moved the district forum after the company refused to replace the car.
RBI unveils Yes Bank’s restructuring plans,SBI likely to hold 49% stake
“The matter in regard to Yes Bank was discussed at the meeting of the central board of bank on Thursday and an in-principle approval has been given by the board to explore investment opportunity in the bank,” the SBI board informed the bourses late in the evening.
LIC to partner with Mahindra Insurance Brokers to sell micro insurance policies
This initiative has been rolled out in partnership with Mahindra Insurance Brokers Limited (MIBL) who will sell life micro insurance policies with sum assured in the range of Rs.50,000/- to Rs. 2,00,000/- through their Sajhedaari Program, involving the network of Point of Sales Persons (POSPs).
RBI puts troubled Yes Bank under moratorium,limits withdrawals at Rs 50k
The RBI has also superseded the Board of Directors of Yes Bank for a period of 30 days owing to serious deterioration in the financial position of the Bank.
Prashant Kumar, ex-DMD and CFO of State Bank of India has been appointed as the administrator of the bank.
Existing health policies cover coronavirus:GI Council
To increase awareness about non-life insurance, GI Council, the apex body of general insurers, with support from the Insurance Regulatory Authority of India (IRDAI), has launched an awareness and education campaign – Faayde Ki Baat.
India’s $476 billion forex firepower can help arrest rupee’s panic drop
Citibank on Wednesday said the rupee appeared to have over-reacted to confirmation of the new virus cases and it recommends buying bullish rupee exposure via options. India’s link to the global supply chain is limited and the current-account deficit may narrow due to the virus’ impact on economic activity and lower commodity prices, strategist Gaurav Garg wrote in a note.
EPFO loweres interest rate on employee provident fund to 8.5%
The EPFO invests 85 per cent of its annual accruals in the debt market and 15 per cent in equities through exchange-traded funds.
SBI & LIC likely to bail out capital starved Yes Bank:Report
SBI, while neither denying nor confirming the news report, told stock exchanges that it will abide by the timelines under SEBI disclosure regulations in disclosing the developments, if any in the matter to Stock Exchanges.
IRDAI proposes 10-15% hike in 3rd party motor premiums from Apr 1
A discount of 15 per cent is proposed for electric private cars, elctric two wheelers, electric goods carrying commercial vehicles and electric passenger carrying vehicles. The proposed discount will incentivize usage of environmental friendly Vehicles, said IRDAI..