Equity benchmark Sensex rallied over 300 points in the opening session on Wednesday led by gains in Reliance Industries, ICICI Bank and HDFC amid mixed cues from global markets. After surging 308 points in highly volatile trade, the 30-share index was up 72.14 points, or 0.20 per cent, at 35,707.09, […]
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Why this vegetable is selling at a price higher than chicken
With the sales of chicken and mutton going down due to the coronavirus scare, it is the humble ‘kathal’ (jackfruit) that is emerging as an acceptable alternative. ‘Kathal’ is now selling at Rs 120 per kilogram — an increase of more than 120 per cent over the normal Rs 50 […]
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YES Bank customers can clear credit card dues from other accounts
Crisis-hit YES Bank on Tuesday said customers could now make payments towards their credit card and loans through other bank accounts, days after prominent banking services were curtailed after the Reserve Bank of India (RBI) imposed a moratorium on the lender. The announcement comes as panic gripped the bank’s customers, […]
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Saudi Prince tests grip on power with desert raid, oil price war
Saudi Crown Prince Mohammed bin Salman’s dramatic one-two punch against perceived rivals at home and abroad is sending shock waves through the royal family, fueling turmoil in global markets and underscoring the de-facto ruler’s own concerns about his grip on the oil-rich kingdom. On Friday, Saudi authorities rounded up the […]
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Coronavirus fear spooks markets as nearly Rs 5 lakh cr investor money wiped off
Investor wealth plummeted by nearly Rs 5 lakh crore in early trade on Monday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak. Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index plunged 1515.01 points, or 4.03 per […]
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RBI’s cap on withdrawals from Yes Bank may be lifted by March 23
The limit of Rs50,000 the Reserve Bank of India (RBI) placed on cash withdrawals by Yes Bank customers is likely to not last beyond 23 March, a good 10 days ahead of the 3 April deadline set by the central bank, sources familiar with the development told Mint. “With State Bank […]
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Crude oil plunges 30%, biggest drop since 1991, after Saudi slashes prices
Oil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. Brent crude futures fell by as much as […]
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Reliance Jio wants you to pay more for 1GB data in next 6 months
Reliance Jio has proposed to TRAI that wireless data prices are gradually increased to Rs 20 per GB from Rs 15 per GB currently, after six to nine months while suggesting floor rate for data prices. While advocating for TRAI’s intervention to prescribe floor price for wireless data service, Jio said voice […]
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Vodafone Idea pegs its AGR liabilities at Rs 21,533 crore
Vodafone Idea Ltd has assessed its telecom dues arising from an October Supreme Court order at ₹21,533 crore, less than half the over ₹50,000 crore that the government had estimated. “The company has today filed its self-assessment of the AGR (adjusted gross revenue) liabilities with the department of telecommunications (DoT),” Vodafone […]
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Govt invites bids for sale of BPCL
The government invited bids on Saturday for the sale of its entire 52.98 per cent stake in the Bharat Petroleum Corporation Limited (BPCL). Expressions of interest for the strategic sale of BPCL were invited by May 2, the Department of Investment and Public Asset Management (DIPAM) said in the bid […]
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Yes Bank crisis: Conducting due diligence on Yes Bank restructuring, says SBI chief
Yes Bank has the potential to come of the administration soon and resume normal banking function, State Bank of India’s Chairman Rajnish Kumar said Saturday. “Yes Bank can come out of administration soon,” Kumar told reporters a day after the government unveiled a rescue plan for the crisis-hit Yes Bank […]
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Nitin Gadkari lists his ministry’s ‘biggest failure’ in last 5 years
Union Road Transport and Highways Minister Nitin Gadkari has admitted that his ministry’s inability to reduce number of road accidents and deaths across the country has been one of the biggest failures in last five months. Speaking at the Mint Idea Investment Summit and Awards in Mumbai on Thursday, Gadkari […]
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Yes Bank problem bank-specific, not sectoral: SBI chief Rajnish Kumar
A day after the RBI superseded the board of India’s fourth-largest private sector lender Yes Bank, State Bank of India (SBI) Chairman Rajnish Kumar on Friday said the problem at hand is lender-specific and not sectoral. On Thursday, the SBI board gave its “in-principle” approval to exploring investment opportunities in […]
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Yes Bank shares fall 60%, crisis intensifies risk-off mood fuelled by coronavirus spread
Shares in India’s fourth-largest private lender Yes Bank plunged close to 60 per cent on Friday after the central bank seized control and imposed withdrawal limits. At 12:30 pm, the price was Rs 15.15 per share. Queues formed outside Yes Bank branches after the announcement late on Thursday that customers can only […]
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Yes Bank resolution will be done swiftly, 30 days is outer limit: RBI Governor
Reserve Bank of India governor Shaktikanta Das on Friday said that Yes Bank resolution will be done very swiftly and that 30 days is an outer limit, according to news agency PTI. On late Thursday evening, the central bank put Yes Bank under moratorium and capped withdrawals at Rs 50,000 […]