Business

[ad_1] NEW DELHI: The Reserve Bank of India (RBI) on Friday fined State Bank of India and Jana Small Finance Bank for failing to follow certain regulatory non-compliances.According to the RBI, it has levied a fine of Rs 1,72,80,000 on SBI for failing to adhere to guidelines concerning “Loans and Advances-Statutory and Other Restrictions”, “Customer…

[ad_1] MUMBAI: Dalal Street witnessed heightened volatility on Friday, with the sensex closing 880 points, or 1.1% down at 79,454 points as armed conflict between India and Pakistan escalated on Thursday night.Market players also pointed out that foreign funds turned net sellers in Indian stocks for the first time in more than three weeks. On…

[ad_1] Globally, central banks’ collective gold holdings grew from 26,000 tonnes to 32,000 tonnes during the 15-year period ending 2024. (AI image) RBI has been on a gold buying spree, but it’s not alone! Several countries besides India are increasing their gold holdings significantly. Among countries that witnessed the most substantial increase in gold’s proportion…

[ad_1] India’s foreign exchange reserves broke their 8 week long rising streak, falling $2.06 billion in the week ending 2 May, as per the latest data from the Reserve Bank of India (RBI).The fall brings India’s total forex reserves down to $686.06 billion, after they had surged $1.98 billion to $688.13 billion in the week…

[ad_1] Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) Nirmala Sitharaman (File photo) NEW DELHI: Finance minister Nirmala Sitharaman on Friday asked all banks to remain fully alert and prepared to deal with any eventuality or crisis. She emphasised the need to ensure uninterrupted access to banking…

[ad_1] NEW DELHI: Turkiye and Azerbaijan, hot favourites of holidaymakers, are fast falling out of favour after the two countries’ steadfast support to Pakistan during Operation Sindoor and travel companies have stopped new bookings.Stating that it has paused all new travel offerings to Azerbaijan, Uzbekistan, and Turkiye, Cox & Kings said it was “aligned with…

[ad_1] BENGALURU: Food and grocery delivery platform Swiggy’s revenue from operations rose 35% year-on-year to Rs 15,227 crore, driven by double-digit growth in food delivery and a doubling of Instamart’s order value.Its net loss widened to Rs 3,117 crore for FY25, from Rs 2,350 crore in the corresponding period last year, as the company sharply…

[ad_1] Representative AI image (Credit: Bing image creator) MUMBAI: Amid escalating tensions between India and Pakistan, companies are putting precautionary measures in place to ensure safety of employees and minimise impact on operations.Dabur is operating its factory in Jammu only during the daytime for now and will reassess the situation on Monday before deciding on…

[ad_1] Image used for representative purposes MUMBAI: Five years after a group of Indian lenders led by SBI stepped in to rescue Yes Bank, Japan’s Sumitomo Mitsui Banking Corporation (SMBC) will acquire a 20% stake in the private lender for Rs 13,483 crore, making it the largest shareholder. The deal, India’s biggest cross-border banking investment,…

[ad_1] India abstained from voting on IMF loan package for Pakistan NEW DELHI: India raised concerns during Friday’s International Monetary Fund’s Executive Board meeting regarding IMF’s financial assistance to Pakistan. While abstaining from voting, India said, “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of implementation and of…