Business

With regards to provision made for the loss incurred on account of Nirav Modi fraud, the bank said it provided for Rs 7,178 crore, 50 per cent of the total amount of Rs 14,356 crore in the fourth quarter of 2017-18. The remaining amount will be covered in...

During a visit to the United Arab Emirates, Oil Minister Dharmendra Pradhan said that he was "a little bit concerned" about the impact of an oil price rise on consuming countries but that he did not think oil supply will be an issue.

The rupee had closed 19 paise lower at a 15-month low of 67.27 yesterday against the US currency following a surging demand for the dollar as crude oil prices zoomed past USD 77 per barrel level.

Recently major mergers are taking place in India as Asia's third largest economy, needs foreign capital to boost infrastructure and sustain economic growth

The deal, capping almost two years of talks, will help the US-based retailer fortify and boost market share against Amazon.com, which reportedly had tried to make a competing offer for a stake.

While investigation continues into what has been called the biggest fraud in India's banking history, PNB said after a board meeting that it had strengthened the process of underwriting credit to minimise the possibility of fraud in future.

Washington imposed a seven-year ban on U.S. companies selling components and software to ZTE last month after finding the Chinese telecoms company breached U.S. sanctions on Iran.

This has been proposed following suggestions made by a high level committee under the chairmanship of former RBI Deputy Governor R Gandhi.

It can be noted that the entry of the deep-pocketed Reliance Jio into the intensely competitive telecom market has wrecked the finances of all the players in the industry, and led to mergers and even an bankruptcy.

The move holds prominence as it comes just days after Prime Minister Narendra Modi met Chinese President Xi Jinping, with no agenda.

The statement from the EPFO came amid reports of a letter purportedly written by EPFO Central Provident Fund Commissioner V P Joy to CSC's CEO, Dinesh Tyagi on March 23 flagging the data theft issue.

Main indices - Sensex and Nifty - remained well above their key levels of 35,000 and 10,700 levels points, respectively throughout the session as investors were optimistic about upcoming results from more companies.

The company's Board has received offers from suitors such as Hero Enterprise Investment Office and the Burman Family Office, Fosun Health Holdings, IHH Healthcare Berhad, Manipal Hospital Enterprises and Radiant Life Care for infusion of funds.

The EPFO data shows that during September 2017 to February 2018, 31.10 lakh new payroll additions were made across all age groups.

The MSP would yield returns of 63.2 per cent over the weighted average A2 + FL (covers actual paid-out costs plus an imputed value of unpaid family labour) cost of production, the release said.

A finance ministry official said that a reduction in excise duty, which makes up for a quarter of retail fuel price, is not advisable if the government is to stick to the path of reducing budgetary deficit.