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OBC Q2 retail credit business grows by 15.61%

Thursday, 31 Oct 2013 | PNS | New Delhi

Oriental Bank of Commerce (OBC) on Wednesday announced a jump of 10.7 per cent in its net interest income (NII) during the second quarter of the current fiscal to Rs 1,280.94 crore. The bank had posted NII of Rs 1,157.11 crore in the same quarter last fiscal. Bank’s total income also...

NSEL member Mohan India agrees to pay Rs 771 cr in one year

Thursday, 31 Oct 2013 | PNS | New Delhi

Crisis-ridden National Spot Exchange Ltd (NSEL) on Wednesday said its Delhi-based member Mohan India Ltd has agreed to pay to the exchange about Rs 771 crore in final settlement over the next one year. “NSEL and one of its members Mohan India have reached an agreement, based on which, the latter...

JSPL Q2 sales up 7.4% at Rs 4,949 crore

Thursday, 31 Oct 2013 | PNS | New Delhi

Jindal Steel and Power Ltd (JSPL) has recorded a 7.43 per cent increase in its net sales for the quarter ending September 30 at Rs 4,949.03 crore vis-a-vis Rs 4,606.93 crore during the corresponding period owing to 32 per cent increase in export sales. The company, its Managing Director Ravi...

RBI hikes repo rate by 0.25% to 7.75%

Wednesday, 30 Oct 2013 | PNS | New Delhi/ Mumbai

Continuing its focus towards tackling high inflation, the Reserve Bank of India’s (RBI) Governor, Raghuram Rajan in his second monetary review on Tuesday hiked the repo rate again by 0.25 per cent of 25 basis points (bps) to 7.75 per cent. Along with that RBI also announced a 0.25 per...

Short term lending rate hike to hit investments, hamper growth: India Inc

Wednesday, 30 Oct 2013 | Pioneer

Industry is certainly disappointed over the increase in repo rate. The kind of inflation we are witnessing in India is more of a supply side phenomenon. While raising interest rates would have little impact on such inflation, it will certainly penalise Indian industry that is already in the midst of...

Sensex surges by 324 points

Wednesday, 30 Oct 2013 | PNS | New Delhi

Backed by heavy short covering and expectations that Fed would continue with quantitative easing, Sensex surged again near to its three year high. The benchmark Sensex rose by 358.73 points to 20,929.01 and the broader index Nifty gained 119.80 points to 6,220.90, to its new three year high. After falling...

Vodafone seeks FIPB approval for 100% stake in India unit

Wednesday, 30 Oct 2013 | PNS | New Delhi

World’s second biggest mobile operator UK-based Vodafone Plc has approached the Finance Ministry seeking approval to raise stake in its India unit to 100 per cent for Rs 10,141 crore, thus clearly indicating that it would continue to keep India in its scheme of things despite the long standing tax...

Decision on spectrum pricing next week: DoT

Wednesday, 30 Oct 2013 | PNS | New Delhi

The Telecom Ministry will take a call next week on spectrum base price for the third round of auction, which is expected within a few months, a top official said here on Tuesday. “Spectrum prices will be decided next week,” Telecom Secretary M F Farooqui told reporters after meeting Department of...

With $21-bn networth, Mukesh Ambani India's richest for 6th yr

Wednesday, 30 Oct 2013 | PTI | New York

With a networth of $21 billion, Mukesh Ambani has retained his title as India's wealthiest for sixth year in a row, while the country's 100 richest persons saw their collective wealth soar by a modest 3 per cent in a year. NRI steel tycoon Lakshmi Mittal ($ 16 billion) also...

Infosys to be hit with hefty fine in US visa violations case

Wednesday, 30 Oct 2013 | S. Rajagopalan | Washington

Indian IT major Infosys looks set to be slapped with a staggering fine for US visa violations under a settlement with the US Department of Justice, set to be announced on Wednesday. By disclosing recently that it had set apart $35 million to resolve the visa case, Infosys itself had given...


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I am with you, Pawar tells victims of social media trolls

15 Oct 2017 | IANS | Mumbai

Coming out in support of young victims of social media trolls, Nationalist Congress Party (NCP) President Sharad Pawar on Saturday exhorted them to speak out against the wrong policies of the Government and oppose growing incidents of intolerance and fascism across India. In an unique initiative, Pawar met around 35 youngsters who have been threatened on social media and/or booked by police for speaking out their minds against the Government and...

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Youth kills himself after money dispute with father

21 Oct 2017 | Staff Reporter | Bhopal

Dejected over refusal of non-payment of loan installment for bike by his father, a 22-year-old youth committed suicide by hanging with the ceiling at his Sankracharya Nagar residence under Bajaria police station area on Thursday. Police said that the deceased Shubham Malviya was found hanging with the ceiling and was rushed to a nearby hospital where he was declared dead...

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