Business

Earlier, the bank employees had observed a two-day strike on May 30 and 31 against the salary hike.

According to the RBI, total money supply in the hands of the public stood at about Rs 120 lakh crore during the demonetisation period and was below Rs 100 lakh crore before the Modi government came to power.

Earlier this week, President Ram Nath Kovind gave his assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, which allows home buyers to be recognised as financial creditors under the insolvency proceedings.

Home buyers would be able to invoke Section 7 of the IBC against errant developers. Section 7 allows financial creditors to file application seeking insolvency resolution process.

The approval is for total foreign investment up to 100 per cent in Idea Cellular Ltd., and total indirect FDI in its relevant subsidiaries Aditya Birla Telecom Ltd and Idea Cellular Infrastructure Services Ltd, it added.

Daily revision in petrol and diesel prices, which was introduced in mid-June last year, had come in for criticism after rates were hiked everyday last month in step with firming international oil rates.

The loss-making carrier has already received more than Rs 26,000 crore under the bailout package announced by the former UPA government in April 2012.

India's largest lender SBI has increased the lending rate by 10 basis points across all tenors up to three years.

The unions' comments came a day after the deadline for submission of initial bids for Air India stake sale ended with no bidders evincing interest in the carrier, which is surviving on a Rs 30,000-crore bailout package from the government.

The allegation pertains to Air Asia officials and others allegedly trying to manipulate government policies through corrupt means to get international licence for its Indian venture Air Asia India Limited.

The order follows an investigation conducted by the regulator for the June-December, 2007 period to ascertain any possible violation of the regulations.

To further strengthen economic ties with Russia, the minister has proposed to develop agriculture and creation to corridor to facilitate smooth movement of consignments.

With the Federation of Indian Export Organisations (FIEO) claiming that refund clearance has slowed down and saying that over Rs 20,000 crore GST refunds are stuck, the government on Wednesday issued a statement saying the refunds pending are to the tune...

The government will not extend the deadline for submissions of interest in Air India, R.N. Choubey said on Wednesday, The deadline for receiving bids has already been extended once to May 31 from May 14.

Most of the banks, including SBI, PNB and BoB, have already informed their customers that functioning of branches and offices will be impacted.

Net profit rose to 4.57 billion rupees ($67.35 million) in the quarter ended March 31, from 2.16 billion rupees a year earlier, the company said on Tuesday.