SBI proposes to dilute stake in credit card biz

SBI proposes to dilute stake in credit card biz

Thursday, 15 August 2019 | PTI | new delhi

State Bank of India (SBI) on Wednesday said it is planning to dilute stake in its card business through the initial public offer (IPO) route. The country’s largest lender currently holds 74 per cent stake in SBI Cards & Payment Services Private Limited. The Executive Committee of Central Board of the bank...

Govt to frame rules within 3 mths to implement Consumer Protection Act: Paswan

Wednesday, 14 August 2019 | PTI | New Delhi

The Centre will within three months frame rules and set up an authority to implement the newly enacted Consumer Protection Act, Food and Consumer Affairs Minister Ram Vilas Paswan said on Tuesday. The minister asserted that representation of all sections will be ensured while nominating members of the authority, and said...

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

Wednesday, 14 August 2019 | PTI | New Delhi

The Centre has issued guidelines on operationalising Rs 1-lakh crore partial guarantee scheme under which public-sector banks can purchase high-rated pooled assets of financially sound non-banking finance companies (NBFCs). NBFCs, including housing finance companies (HFCs), came under stress following series of defaults by the group companies of IL&FS in September last...

July retail inflation eases to 3.15%; experts advise caution on floods, lag in kharif sowing

Wednesday, 14 August 2019 | PTI | New Delhi

Consumer price index-based retail inflation eased marginally to 3.15 per cent in July on the back of softening fuel and light prices, even as overall food prices moved up, government data showed on Tuesday. Retail inflation was 3.18 per cent in June 2019, while it stood at 4.17 per cent in...

Govt-constituted panel suggests making CSR non-compliance civil offence

Wednesday, 14 August 2019 | PTI | New Delhi

AGovernment-constituted high level panel on Tuesday recommended making expenditure on CSR tax deductible as well as treat non-compliance with CSR requirements a civil offence under the companies law. Under the Companies Act, 2013, certain classes of profitable entities are required to spend at least two per cent of their three-year annual...

RIL soars 10%, m-cap surges by Rs 71,638 cr after a slew of pro-investor announcements

Wednesday, 14 August 2019 | PTI | New delhi

Reliance Industries shares zoomed nearly 10 per cent on Tuesday, adding Rs 71,638 crore to the company’s market valuation after the announcement of a host of investor-friendly proposals at its annual general meeting. The oil-to-telecom giant saw its scrip jump 9.72 per cent to close at Rs 1,275 on the BSE....

Sensex plummets 624 pts on global sell-offs; RIL soars 10%

Wednesday, 14 August 2019 | PTI | Mumbai

BSE benchmark Sensex on Tuesday crashed about 624 points dragged by heavy losses in index heavyweights HDFC twins, Infosys, ITC and ICICI Bank amid sell-offs in global equities. Bucking the overall downtrend, shares of Reliance Industries (RIL) rallied nearly 10 per cent, capping the Sensex loss to a large extent. Apart...

‘Jio broadband plans may leave DTH firms vulnerable’

Wednesday, 14 August 2019 | PTI | New Delhi

(PTI): Reliance Jio’s bundled broadband services plans may leave DTH firms “most vulnerable”, and work out to be “neutral to slight negative” for Bharti Airtel, as it raises competitive heat in corporate and home internet space, a Bank of America Merrill Lynch report said on Tuesday. The view comes after...

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