No proposal to merge BSNL, MTNL: Telecom Minister

  New Delhi, Feb 22: Telecom Minister Manoj Sinha today said there are no plans at present to merge BSNL and MTNL, but asserted that the strategic plan outlined for promoting synergy among state-owned telecom firms will strengthen and benefit both the organisations. “There is no thinking in government on merging the two. But we […]

RBI’s new NPA norms may undermine bank earnings: Fitch

RBI’s new NPA norms may undermine bank earnings: Fitch

  New Delhi, Feb 22: The Reserve Bank’s new norms for overhauling the mechanism to deal with bad loans is aimed at speeding up the NPA resolution, but would undermine the banking sector earnings in the near-term, credit rating agency Fitch said today. However, stronger regulatory efforts to clean-up bad loan problems, combined with planned […]

Indices end flat on F&O expiry; Sensex down 25 pts

Indices end flat on F&O expiry; Sensex down 25 pts

  Mumbai, Feb 22: The domestic indices ended largely flat on Thursday following the expiry of derivative contracts for February series. The S&P BSE Sensex ended at 33,819, down 25 points while the broader Nifty50 index settled at 10,383, down 15 points. In the global markets, most Asian stocks fell on Thursday, bond yields hit […]

Reliance Infrastructure bags Rs 3,647 cr contract for thermal power project in Tamil Nadu

Reliance Infrastructure bags Rs 3,647 cr contract for thermal power project in Tamil Nadu

  New Delhi, Feb 22: Reliance Infrastructure (RInfra) today said it has won a Rs 3,647 crore contract from Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for work related to Uppur Thermal power project. “RInfra has won a prestigious engineering, procurement and construction (EPC) contract for Rs 3,647 crore from TANGEDCO for balance of […]

PNB fraud: Not all banks have SWIFT integrated with CBS, say bankers

PNB fraud: Not all banks have SWIFT integrated with CBS, say bankers

  Mumbai, Feb 21: The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is just one of the processes that sits outside the core banking system (CBS) in banks. According to technology experts, depending on the bank, anything between 68 and 169 processes are from third-party providers and banks don’t integrate most of them. But some […]

FDI rises only 0.27 pct during Apr-Dec FY18

  New Delhi, Feb 21: Foreign direct investment (FDI) in the country grew by a meagre 0.27 per cent to USD 35.94 billion during the first 9 months of the current fiscal, according to the DIPP data. The FDI inflows were USD 35.84 billion during the April-December period of last fiscal, 2016-17. In rupee terms, […]

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