IDBI charts out plan to bring banking, insurance services at one platform

IDBI charts out plan to bring banking, insurance services at one platform

Monday, 11 March 2019 | PTI | New Delhi

IDBI Bank on Sunday said it is strategising to be a ‘one-of-its-kind’ financial conglomerate and plans to bring banking and insurance services under a single platform. The country’s largest and the only state-owned life insurer LIC now holds a majority stake in IDBI Bank. Also, the change in ownership of IDBI...

PNB sanctions loans worth Rs 689 cr to 1,600 MSMEs

PNB sanctions loans worth Rs 689 cr to 1,600 MSMEs

Sunday, 10 March 2019 | PTI | New Delhi

State-owned Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.Com portal as part of its effort to promote such industries. Under the Mudra Yojana, the bank has offered loan to over 2.69 lakh small entrepreneurs this fiscal...

Future Retail to spend Rs 200cr for new Big Bazaar outlets in East

Future Retail to spend Rs 200cr for new Big Bazaar outlets in East

Saturday, 09 March 2019 | PTI | Kolkata

Future Retail would spend Rs 150-200 crore a year for expansion of Big Bazaar stores in the eastern region, a company official said Saturday. The company would open around 25 such stores from April this year in eastern India, the official said. "We have a pipeline of around 25 Big Bazaar stores...

Prabhu confident of meeting $100-bn FDI target by 20

Prabhu confident of meeting $100-bn FDI target by 20

Saturday, 09 March 2019 | PTI | Mumbai

Commerce and Industry minister Suresh Prabhu said Saturday the government has set a target of attracting USD 100 billion in foreign direct investments over the next two years. Boosted by the USD 16-billion Walmart-Flipkart deal last August, which is the biggest-ever foreign fund inflow into the country---2018 saw the country for...

VP Naidu holds talks with Costa Rica President, seeks investment from Costa Rican companies

VP Naidu holds talks with Costa Rica President, seeks investment from Costa Rican companies

Saturday, 09 March 2019 | PTI | San Jose (Costa Rica)

Vice President M Venkaiah Naidu has met President of Costa Rica Carlos Alvarado Quesada and held "fruitful" discussions on a range of issues, including cross border terrorism, and new areas of collaboration that hold potential to boost the bilateral ties. Vice President Naidu, who became the first Indian on Friday to...

NCLAT allows withdrawal of Liberty House bid for ARGL

NCLAT allows withdrawal of Liberty House bid for ARGL

Saturday, 09 March 2019 | PTI | New Delhi

The National Company Law Appellate Tribunal (NCLAT) on Friday allowed the withdrawal of UK-based Liberty House bid for ARGL on the plea of resolution professional of the debt-ridden company. A two-member bench, headed by Justice S J Mukhopadhaya, also pulled up Liberty House for not pursuing the corporate insolvency resolution process...

Business Corner

Saturday, 09 March 2019 | Agencies

Punjab National Bank celebrated the International Women’s Day. Senior representatives of PNB Prerna, an association of wives of the Senior Officials and senior lady Officials of the Bank, felicitated women achievers from different walks of life. Jayanti Mehta, President, PNB Prerna, along with other senior members of the association, including...

Govt will meet fiscal deficit target of 3.4 per cent in FY ’19: Garg

Saturday, 09 March 2019 | PTI | New Delhi

Economic Affairs Secretary Subhash Chandra Garg Friday exuded confidence that fiscal deficit target of 3.4 per cent for 2018-19 would be met as shortfall in indirect tax collection would be compensated by lower expenditure. “I am very confident (of meeting fiscal deficit target of 3.4 per cent for 2018-19),” Garg said...