Indian Oil Corp 2nd most profitable PSU; posts Rs 10,399 cr profit in FY16

Indian Oil Corp 2nd most profitable PSU; posts Rs 10,399 cr profit in FY16

Net profit of Rs 10,399.03 crore in fiscal year ended March 31, 2016 was second only to Oil and Natural Gas Corp's Rs 16,004 crore net profit in 2015-16 fiscal.

Sunil Bharti Mittal awarded Harvard B-School's highest honour
Sunil Bharti Mittal awarded Harvard B-School's highest honour

He was also felicitated with a Padma Bhushan, country's third highest civilian honour, in 2007.

CBDT extends e-appeal filing deadline to June 15
CBDT extends e-appeal filing deadline to June 15

"E-appeals which were due to be filed by May 15, 2016 can be filed up to June 15, 2016. All e-appeals filed within this extended period would be treated as appeals filed in time," a circular issued in this regard by the CBDT said.

Raghuram Rajan defends policies; says cleaning up banks’ accounts to support growth
Raghuram Rajan defends policies; says cleaning up banks’ accounts to support growth

Rajan’s comments came after his meetings with Prime Minister Narendra Modi and Finance Minister Raghuram Rajan on Wednesday. The RBI is scheduled to unveil its next monetary policy on June 7.

Brexit a 'serious risk to growth': G7 leaders

The comments highlight international concern over the possibility of so-called "Brexit", as British voters prepare for a June 23 referendum to decide whether to leave the 28- country bloc.

Stock Market Rebound: Local factors driving the sentiment

The recent surge in the stock market, experts say, has come on the back of a number of domestic factors such as better-than-expected earnings, expectations of a good monsoon and a rise in new orders, among others.

Wilful defaulters won’t be allowed to raise public funds now: Sebi

Such entities also barred from setting up market intermediaries & taking control of any listed firm.

Timing your investment’s entry and exit critical for good returns

While it is true that no one can time the markets, with some research and a long hard look at your investment goals, horizons, and plans, you can fine tune your exit timing.

RBI asks banks to upgrade ATMs by Sept ’17 to prevent cloning of cards

ATMs will necessarily be enabled for EMV chip and PIN processing from inception.

Swamy levels six allegations against Raghuram Rajan, asks PM again to sack him

Rajan, the BJP leader also claimed, has been sending confidential and sensitive financial information using unsecured Chicago University email id and publicly disparaging the BJP government.

Jet Airways reports first annual profit since 2007

Jet reported a profit of 4.26 billion rupees for its fourth quarter to the end of March, compared with a loss of 18.03 billion rupees in same quarter a year earlier.

Raghuram Rajan: Good policy essential to India's stability

SAARCFINANCE is a "network of central bank governors and finance secretaries of the SAARC region". The South Asian Association for Regional Cooperation (SAARC) was set up as a regional bloc in 1985.

Govt to soon announce measures to curb high airfares: Minister

Aviation regulator DGCA had last week said that discussions need to be held with airlines before any decision on fixing upper cap on ticket prices.

Bankruptcy law credit positive for banks: Moody's

Moody's said the new law entails greater efforts by corporate borrowers to avoid default and thereby a possible insolvency resolution process

Two years of Modi govt: Reforms, policy decisions on track, but no smooth-sailing, says DBS

DBS said GDP growth is seen at 7.6 per cent in 2016-17. However, recovery remains "uneven", with the private sector and banks on the backfoot.

Market momentum continues, Sensex regains 26k amid F&O expiry

Sentiment remained sunny as oil advanced to USD 50 a barrel for the first time this year as US industry data showed a decline in stockpile.

India home to 56 of the world's largest public firms: Forbes 

Reliance improved its ranking this year to 121 from 142 last year, with a market value of USD 50.6 billion and assets worth USD 91.5 billion.

SBI plans rejig before possible merger; 17 CGMs in the fray for 7 DMD posts

14 chief general managers of SBI were interviewed for the post of deputy managing director in Mumbai on Wednesday.

Sebi likely to delist 4,200 firms; warns erring promoters

SEBI announced, it will put in place stringent norms for high frequency trades along with higher penalties for misuse and initiate strong action against auditors for lapses.

Boosting investments: Govt may kick-off asset recycling plans with PGCIL

Firm may be asked to monetise its transmission lines and tower assets from its joint ventures.

Better LPG, kerosene targeting soon; sops only to really needy: Dharmendra Pradhan

A major feat of the Narendra Modi government, Pradhan said, was that it added more than 3.7 crore new domestic LPG consumers in just two years to take the number to 16.7 crore.

Regional airports: Expenses up in the air

As many as 24 airports built with the purpose of enhancing regional connectivity have turned out to be white elephants for the govt, failing to garner profits for consecutive years.

Bank of India Q4 loss widens to Rs 3,587 cr on rising NPAs

The ratio of gross NPAs moved up from 5.39 per cent last year 13.07 per cent in Q4 of whereas the net NPA ratio moved up from 3.36 per cent to 7.79 per cent.

We’re bitten by steel sector: PNB MD Usha Ananthasubramanian

Five iron and steel accounts alone contributed to over Rs 12,500 crore in bad loans for the bank.

Payments bank: Tech Mahindra third entity to drop plans

In August 2015, the RBI had given in-principle approval to 11 applicants to set up payments bank.

Deutsche Bank sees India's GDP growth at 7.8 per cent next year

Deutsche Bank sees India's gross domestic product growth at 7.8 per cent in 2017, up from this year's 7.5 per cent, noting that the economy seems to have bottomed out.

Amid big red flags, small green shoots point to uptick in economic growth
The Third Year Begins

Numbers still below ’12 peaks but sale of LCVs, bikes, cement up — point to consumption-led growth .

RBI deputy governor unhappy about payments bank licensees dropping out

When asked whether RBI may levy processing fee on the entities which have pulled out, Mundra said the current regulation does not give scope of charging a processing fee.

P-Notes: An attempt to lift the veil, establish investors’ identity

The govt has been seeking to regulate P-notes since their introduction. The RBI has opposed them as it’s impossible to know actual beneficiaries.

The big bank consolidation theory: How practical is it

The SBI’s proposal to merge five of its subsidiaries makes a compelling case for the banking industry as the experiment has the potential to prune balance sheets, better synergies and introduce rationalisation.

Piramal invests Rs 425 cr in Lodha’s Mumbai project

The deal follows the recent downgrade of Lodha by international ratings agency Moody’s. On May 17, Moody’s downgraded the corporate family rating of Lodha Developers (LDPL) to B1 from Ba3.

Finance Ministry invites comments from stakeholders, public

Under section 9 of the Income-tax Act, income arising from indirect transfer of assets situated in India is deemed to accrue or arise in India.

Quarterly employment survey: Govt to initiate field work by month-end, figures expected by August

The survey will include 18 sub-sectors under eight main sectors of manufacturing, construction, trade, transport, education, health, accommodation and restaurants and IT/BPOs, bringing the unorganised sector under its ambit.