PNB case: Will take appropriate supervisory action, says RBI

Feb 16 2018

The Reserve Bank said it has already undertaken an assessment of control systems at scam-hit Punjab National Bank and will take "appropriate supervisory action".

Will ask visually challenged to examine new notes: HC

Feb 16 2018

Delhi HC said it would consider asking some visually impaired persons to examine the new currency notes and coins recently issued by the govt.

Government bonds end mixed, call money rates finish higher

Feb 16 2018

The 7.17 percent 10-year benchmark bond maturing in 2028 eased to Rs 97.1850 from Rs 97.25, while its yield inched up to 7.58 percent from 7.56 percent.

Unpublished data shows India's fraud problems extend far beyond

Feb 16 2018

Investors may have been shocked when PNB disclosed a $1.77 billion fraud, but the central bank has recorded data that shows the problem runs far deeper and wider.

PNB suspends 8 more officials, to repay other banks by March-end

Feb 16 2018

PNB has suspended 8 more officials, including one at general manager level, for their suspected involvement in the multi-crore scam, a senior government official said.

PNB should reveal due diligence on 1,700 cr loan to Nirav Modi: AIBEA

Feb 16 2018

AIBEA said the PNB management has to clarify what kind of due diligence it had done while lending to Modi's firms a sum of Rs 1,700 crore.

RBI asks banks to accept coins of all denominations from public

Feb 15 2018

Banks should not refuse to accept coins of all denominations from customers and any non-compliance may result into penal action, the Reserve Bank said.

RBI says ready to inject more cash into banks at March-end

Feb 15 2018

The Reserve Bank of India will be ready to inject extra cash into banks if needed ahead of March-end to give flexibility to lenders to manage their liquidity mismatches.

PNB's $1.8 bn fraud is failure of various audits, RBI inspection

Feb 15 2018

The $1.8 billion fraud at the government-owned Punjab National Bank (PNB) shows the failure of various kinds of audits in the bank, including the RBI's inspection.

New NPA resolution framework long-term positive: Report

Feb 14 2018

The report states that the new framework has the potential to bring about a big change in the approach of banks to monitor their exposures and resolution of NPAs.

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US dollar ends higher against rupee

Mumbai: The US dollar ended sharply higher against the rupee at 64.21/22 per dollar and the pound sterling also finished higher at Rs 90.34/36 per pound at the close of the Interbank Foreign Exchange (forex) market here today.

Following are the Interbank forex and RBI rates: (In Rs per unit) Unit   Interbank   RBI Reference US Dollar  64.21/22  US Dollar  Rs 63.9097 Pound Sterling  90.34/36  Euro       Rs 80.1683 Euro   80.18/20 Japanese Yen (100) 60.50/52



Approves Allotment Of 24.9 Mn Shares On Preferential Basis To 8 Investors

Approves Allotment Of 24.9 Mn Shares At Rs 1,726.05/Share


To invest in Zoomcar India, Zoomcar Inc, U.S.

To invest Rs 176 cr in Zoomcar India

Initial investment in Zoomcar India likely to be completed by Feb 20

Additional investment in Zoomcar India expected to be completed by Aug 31

Co’s stake to increase to 16%


RBI inspection had found diversion of funds within group firms

Funds to the tune of Rs 525 cr given to intermediary borrowing cos

Religare Finvest increased corporate loan book against RBI’s directions

RBI has asked for clarity on rollover of fixed deposits with a bank

Findings suggested continued weakness of internal controls

Economic Times Reports


SC Allows Sale Of Fortis Health Shares Pledged With Lenders

SC allows Axis Bank, Yes Bank to sell, transfer pledged share of Fortis

Earlier, SC had restrained financial institutions from selling pledged shares

Business Standard Reports


Granted European GMP certification from Hungarian regulators for Mfg plant at Goa

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