No RBI deputy governor to supervise banks for last 7 months

  New Delhi, Feb 20: For close to seven months, the RBI does not have a full-time deputy governor (DG) handling the supervision of banks, both state-run and private, with the government failing to find a replacement for S S Mundra who retired in July. RBI has four deputy governors, including one from the banking […]

Q3 earnings weakness led by PSUs: Morgan Stanley

  New Delhi, Feb 20: Even as we near the end of earnings season, amid rising volatility in the stock markets, Ridham Desai of Morgan Stanley says that Q3 earnings weakness was led by public sector undertakings. Taking stock of the earnings reported by India Inc in the quarter ended December-17, Ridham Desai says that […]

PNB case: Govt seeks answer from RBI on bank oversight

  New Delhi, Feb 20: Amid apprehensions that the Rs 11,400-crore fraud at Punjab National Bank (PNB) is just the tip of iceberg, the government is learnt to have written to the Reserve Bank of India (RBI), asking some tough questions on whether there were any supervisory or regulatory lapses in the scam. The government […]

Rotomac bank fraud: Income Tax deptt attaches 11 bank accounts

Rotomac bank fraud: Income Tax deptt attaches 11 bank accounts

  New Delhi, Feb 20: After the CBI and the ED, the Income Tax Department has stepped up action against the Rotomac group and its promoters. attaching 11 bank accounts in connection with an alleged tax evasion probe against them, officials said today. The accounts in various bank branches in Uttar Pradesh were attached last […]

E-commerce sector to grow 17% with $38.5 bn GMV in FY18

  New Delhi, Feb 20: E-commerce sector is expected to grow by 17 percent in gross merchandise value (GMV) at USD 38.5 billion during the financial year 2018, IT industry body Nasscom said in its outlook for the year on Tuesday. The growth is being led by an increase in the demand for online hotel […]