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The Reserve Bank last month put IDBI Bank under watch by initiating Prompt Corrective Action against it.

IDBI Bank Q1 net loss widens to Rs 3,800 crore

Provisions during the quarter increased 20.93 per cent to Rs 6,332.05 crore as against Rs 5,235.96 crore in the year-ago...

15 Aug 2019 1:43 AM IST

The situation in the domestic steel sector is still nothing to write home about. In fact, the expected revival of demand from the affordable housing and infrastructure sectors notwithstanding, the overall steel demand is likely to remain weak and fundamentals for the steel sector are likely to weaken in FY20.

Business

Steel demand likely to remain weak in FY20

And that can be attributed to the risk of softening of prices, elevated raw material prices, besides the weak demand,...

15 Aug 2019 1:39 AM IST

Provisioning on IL&FS account and claims from agri-insurance has hit the earnings of state owned General Insurance Corporation of India (GIC Re) that reported 86 per cent drop in year on year net profit for the quarter ended June 30, 2019 to Rs 109 crore.

Business

IL&FS provisions hit GIC Re profit

The net profit was Rs 771.42 crore in the same period of last year. GIC Re is the country's largest reinsurer.

15 Aug 2019 1:29 AM IST

Once activated, the in-app SOS button generates a trigger alert to OYOs Safety Response Team with the guest, booking, location and emergency contact details.

Business

Oyo to invest 300 mn euro to strengthen presence in European vacation...

The firm will aim to expand the presence of OYO Home, Belvilla and Dancenter brands across Europe.

14 Aug 2019 8:03 PM IST

S V Ranganath appointed as the interim chairman of the Coffee Day Enterprises.

Business

Coffee Day Enterprises to sell its tech park to Blackstone for up to...

The transaction valuation is about Rs 2600-3000 cr and the company has entered into a non-binding letter of intent.

14 Aug 2019 5:50 PM IST

Global rating agency Fitch on Monday slashed its GDP forecast for India for FY18 saying growth has repeatedly disappointed in recent quarters.

Business

More forced lending to NBFCs can land banks in trouble: Fitch

Earlier this month, RBI announced three major steps to encourage banks to lend more to liquidity starved NBFCs.

14 Aug 2019 4:02 PM IST

Leading public sector lenders State Bank of India (SBI) and Punjab National Bank (PNB) have put their 15 non-performing assets worth Rs 1,063 crore for sale.

Business

SBI proposes to dilute stake in credit card business

The country's largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited.

14 Aug 2019 3:58 PM IST

Prior to the merger, HPCL is likely to take over Mangalore Refinery and Petrochemicals (MRPL) to bring all the refining assets of ONGC under one unit.

Business

HPCL files revised shareholding; lists ONGC as promoter

Securities and Exchange Board of India had asked HPCL to re-file shareholding pattern to stock exchanges by August 13,...

14 Aug 2019 3:32 PM IST

Global ratings agency Fitch on Monday said it is doubtful about the strength of corporate governance at ICICI Bank, amid allegations of impropriety against its MD and Chief Executive Officer Chanda Kochhar.

Business

ICICI Bank reviews fixed deposit rates; here are the latest FD rates

Senior citizens continue to get higher interest rates than the general public.

14 Aug 2019 3:27 PM IST

Business

Moody's says Reliance stake sale to Aramco credit positive

RIL also entered a deal with BP to sell 49 pc stake in its fuel marketing business in India for USD 1 billion.

14 Aug 2019 11:51 AM IST

Rating agency Icra on Tuesday revised the outlook on NBFCs retail credit growth upwards to about 17-19 per cent for FY18.

Business

Govt issues guidelines for Rs 1-lakh cr partial guarantee scheme for...

NBFCs, including HFCs, came under stress following series of defaults by group companies of IL&FS in September last...

14 Aug 2019 8:56 AM IST

$Rather than waiting to respond to a famine after many have already died, the tech firms, including Amazon, \will use the predictive power of data to trigger funding\ to take action before it becomes a crisis, the World Bank and UN announced. (Representational image/ Photo: AFP)$ Business

Amazon closer to buying stake in Future Retail

As per reports, Future is seeking a valuation of $20 billion for the stake sale. Amazon will also have the option to...

14 Aug 2019 1:30 AM IST