SBI, ICICI Bank, HDFC Bank remain systemically important banks: RBI

Mumbai, Jan 19 (PTI) The RBI on Tuesday said state-owned SBI, along with private sector lenders ICICI Bank and HDFC Bank continue to be Domestic Systemically Important Banks (D-SIBs) or institutions which are ‘too big to fail’. HDFC bank headquarters Mumbai Photo: Reuters SIBs are subjected to higher levels of supervision so as to prevent More...

by Manisha Sen | Published 5 hours ago
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By Manisha Sen On Monday, January 18th, 2021
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India’s budget seen raising import duties by 5%-10% on dozens of items – sources

NEW DELHI (Reuters) – India is considering hiking import duties by 5%-10% on more than 50 items including smartphones, electronic components and appliances in the upcoming budget, three government sources More...

By Ila Choudhary On Friday, January 15th, 2021
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Farmer unions asked to submit draft to government regarding their demands

New Delhi [India], January 15 (ANI): As the ninth round of talks between the central government and farmer unions remained inconclusive, Union Agriculture Minister Narendra Singh Tomar on Friday said the unions More...

By Ila Choudhary On Thursday, January 14th, 2021
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Union Budget to be presented at 11 am on 1st Feb

New Delhi: The Union Budget 2021 will be presented by Finance Minister Nirmala Sitharaman on February 1 at 11 am. FILE PHOTO: Finance Minister Nirmala Sitharaman holds budget papers as she leaves her office to present More...

By Ila Choudhary On Thursday, January 14th, 2021
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Google removes some lending apps in India to protect consumers

MUMBAI (Reuters) – Alphabet Inc’s Google has removed some lending apps aimed at consumers in India from Play Store in an attempt to safeguard users, it said in a blog post on Thursday. FILE PHOTO: A man More...

By Manisha Sen On Thursday, January 14th, 2021
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Indian stores shuttered by farmer protests cost Reliance, Walmart millions in revenue: sources

MOHALI, India (Reuters) – Dozens of Reliance Industries’ retail stores and a giant Walmart outlet face revenue losses of millions of dollars after being forced to shut for more than three months over protests More...

By Manisha Sen On Wednesday, January 13th, 2021
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RBI forms group to evaluate digital lending

MUMBAI (Reuters) – The Reserve Bank of India on Wednesday formed a working group to look at digital lending in the country, including lending through online platforms and mobile applications, it said in a More...

By Manisha Sen On Tuesday, January 12th, 2021
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Sensex, Nifty edge lower as RBI report weighs on banks

BENGALURU (Reuters) – Indian shares inched lower on Tuesday, dragged down by banking stocks after the Reserve Bank of India (RBI) said domestic lenders might see bad loans double, while investors awaited retail More...

By Manisha Sen On Saturday, January 9th, 2021
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India’s December fuel demand scales 11-month peak as recovery gathers pace

(Reuters) – India’s fuel consumption in December rose for a fourth straight month as economic activity and transport demand continued to recover from a coronavirus-led hiatus. A worker holds a nozzle to More...

By Ila Choudhary On Thursday, January 7th, 2021
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Farmers block expressway near Delhi to protest farm laws

KUNDLI, India (Reuters) – Tens of thousands of farmers on tractors occupied a stretch of an expressway on the periphery of the Indian capital New Delhi on Thursday in one of the biggest shows of strength since More...