Villupuram Member of Parliament D. Ravikumar has urged Union Finance Minister Nirmala Sitharaman to issue directions to all banks to provide collateral-free loans up to ₹2 lakh to farmers, in strict adherence to guidelines of Reserve Bank of India (RBI). In a letter to Ms. Sitharaman, the MP said the Ministry of Finance had recommended that loans below ₹2 lakh be exempted from the RBI's recent draft guidelines regarding loans against gold collateral, and the proposed norms take effect only from...Read More
MUMBAI: The Equated monthly instalments (EMIs) on your home, car, education and business loan is set to reduce further as the rate setting panel of the Reserve Bank of India (RBI) on Friday cut the benchmark repo rate by 50 basis points to 5.5 per cent. Repo rate is the rate at which the central bank lends short term money to commercial banks. A lower repo rate means banks can borrow funds at a lower cost from the central bank and are expected to pass on the lower cost to the borrowers. With thi...Read More
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. On May 15, 2025, SEBI sent Mehul Cho...Read More
New Delhi, June 6 (SocialNews.XYZ) India and five Central Asian countries on Friday expressed interest in joint exploration of rare earth and critical minerals, as New Delhi aims to reduce dependence on shipments from China, which has curbed the exports of rare earth materials. It was conveyed during the 4th meeting of the India-Central Asia Dialogue held in New Delhi, the Ministry of External Affairs said in a statement. Appreciating the outcomes of the first India-Central Asia Rare Earth For...Read More
Bijapur, Jun 6 (PTI) Top Naxalite leader Bhaskar, who carried a cumulative bounty of Rs 45 lakh, has been killed in an encounter with security forces in Indravati National Park area in Chhattisgarh's Bijapur district on Friday, a senior police official said citing "preliminary identification of body". The encounter was part of the same anti-Naxal operation underway since Wednesday by personnel from the state police's Special Task Force (STF) and District Reserve Guard (DRG) as well as the CRPF'...Read More
New Delhi, Jun 6 (PTI) SBI MF, Morgan Stanley and Goldman Sachs, among others, on Friday cumulatively bought a 1.8 per cent stake in Bajaj Finserv for Rs 5,506 crore from promoter entities. Besides, JP Morgan India, Citigroup Global, Societe Generale, SBI Life, BofA Securities and Barclays Merchant Bank (Singapore) were also among the buyers, as per block deal data on the NSE. These entities bought 2.86 crore shares or 1.8 per cent stake in Bajaj Finserv at an average price of Rs 1,925.20 apie...Read More
New Delhi, June 6 (UNI) The Parliaments of ten BRICS nations strongly condemned the Pahalgam terrorist attack and agreed to cooperate on a policy of zero tolerance against terrorism. A high-level Parliamentary delegation led by Lok Sabha Speaker Om Birla, which participated in a two-day Eleventh BRICS Parliamentary Forum in Braslia, held multiple rounds of intensive discussions. A broad consensus was reached on key global issues including the responsible use of Artificial Intelligence (AI), glo...Read More
PUNE: Automobile industry, the barometer of the economy, has welcomed the RBI rate cut by 50 basis points to 5.5 per cent from 6 per cent, saying such reduction in repo rate would have a positive impact on the automobile sector in the country. "Such reduction in repo rates would have a positive impact on the auto sector since it would lead to increased accessibility to finance at reduced costs, thereby creating a positive sentiment amongst the consumers in the market," said Shailesh Chandra, Pr...Read More
New Delhi, June 6 (SocialNews.XYZ) In wake of revelations that a female employee of ICICI Bank illegally withdrew crores of rupees from more than 100 customer accounts, including fixed deposits (FDs), financial experts have called on the Reserve Bank of India (RBI) to take stricter measures to address such loopholes in the banking system. Experts have suggested that the RBI should introduce systems like tokenisation for fixed deposits, which would ensure that sensitive FD information is accessi...Read More
New Delhi, Jun 6 (PTI) Hours after RBI's jumbo rate cut, state-owned Punjab National Bank (PNB) on Friday announced up to 50 basis points reduction in lending rate, a move which will help existing and new borrowers. Other banks are also expected to make similar announcements soon. "Great News for Our Valued Customers! Punjab National Bank Makes Your EMIs More Affordable! Following the repo rate cut (6.00% - 5.50%), Punjab National Bank has reduced its RLLR by 50 bps, effective from June 9, 202...Read More
Dehradun, Jun 6 (PTI) The Centre and Uttarakhand government are committed to making the state a national hub of horticulture, Union Agriculture Minister Shivraj Singh Chouhan said on Friday. Interacting with farmers at a Kisan Chaupal in Pavwala Sauda village under Doiwala block of Dehradun, the agriculture minister said, "The quality of fruits, grains and vegetables grown in Uttarakhand is unique and they have full potential to make a mark at the global level." "The Centre and the state govern...Read More
Bengaluru (Karnataka) [India], June 6 (ANI): Amid Opposition's backlash over the Bengaluru stampede, Karnataka Deputy CM DK Shivakumar, on Friday asserted that the government has don't its best to give justice and soon it will come up with a plan to ensure such events do not happen in future. Speaking with the media, Shivakumar said, 'My Chief Minister was kind enough to announce a judicial inquiry. Action has been taken on some of them. Investigation is underway. Action has been taken, and the...Read More
Mumbai (Maharashtra) [India], June 6 (ANI): Commodity exchange MCX has received approval from the markets regulator SEBI to launch electricity derivatives. "This development underscores the strong commitment and support of the Regulators - SEBI and Central Electricity Regulatory Commission (CERC) - in enabling a dynamic and sustainable power market," MCX said in a statement Friday, announcing the development. Also Read | Bhagyashree's Husband Himalay Dassani Finally Goes Down on One Knee To Pr...Read More
New Delhi, Jun 6 (PTI) Tata Electronics on Friday said it has inked a pact with Bharat Electronics Limited (BEL) to boost the development of indigenous electronics and semiconductor solutions. The signing of the Memorandum of Understanding (MoU) marks a significant step forward for Tata Electronics and BEL in jointly exploring end-to-end solutions to meet domestic requirements, according to a release. Also Read | How To Activate Your UAN Online? Step-by-Step Guide As EPFO Extends Activation De...Read More
KOLKATA: Social media influencer Sharmistha Panoli was released from prison on Friday after the Calcutta High Court granted her interim bail in a case involving alleged communal remarks made in a video uploaded on social media. The Calcutta High Court on Thursday granted interim bail to Panoli, who was arrested by Kolkata Police last week following an FIR lodged at the Garden Reach Police Station. The court observed that the complaint against Panoli did not disclose any cognisable offence. Pan...Read More
New Delhi, Jun 6 (PTI) Tata Electronics on Friday said it has inked a pact with Bharat Electronics Limited (BEL) to boost the development of indigenous electronics and semiconductor solutions. The signing of the Memorandum of Understanding (MoU) marks a significant step forward for Tata Electronics and BEL in jointly exploring end-to-end solutions to meet domestic requirements, according to a release. BEL, a Navratna PSU under the Indian Defence Ministry, specialises in design, development, an...Read More
Mumbai, Jun 6 (PTI) The RBI on Friday raised the loan-to-value (LTV) ratio for lending against gold to 85 per cent for borrowings under Rs 2.5 lakh from the present 75 per cent, and spelt out other conditions with an aim to regulate the category in a better way with minimum risk. The LTV ratio has been fixed at 80 per cent for loan amounts between Rs 2.5 lakh and Rs 5 lakh and 75 per cent for loans above Rs 5 lakh, said the Reserve Bank of India (Lending Against Gold and Silver Collateral) Dire...Read More
Katra: Prime Minister Narendra Modi visited Jammu and Kashmir on Friday to inaugurate multiple rail projects, including the world's highest Chenab Rail Bridge, the Anji Khad Bridge, and the Katra-Srinagar Vande Bharat Express, as part of the Udhampur-Srinagar-Baramulla Rail Link. These railway projects directly connect Jammu and Kashmir to the rest of the country. The Udhampur-Srinagar-Baramulla Rail Link is an all-weather railway corridor designed to provide seamless connectivity to the region...Read More
CHENNAI: Keeping small borrowers in mind, RBI is set to revise the loan-to-value for gold loans below Rs 2.5 lakh to 85 per cent from 75 per cent. The central bank also has simplified the procedures and norms for small-ticket loans for speedy disbursal. RBI Governor Sanjay Malhotra stated that the loan-to-value for gold loans below Rs 2.5 lakh will be revised to 85 per cent from 75 per cent. This will also include the interest. Small borrowers will receive 10 per cent more funds for the same co...Read More
Delhi court clears H.C. Gupta and others; convicts Jas Infrastructure and director for misrepresentation in Mahuagarhi coal block allocation A Delhi court on Friday (June 6, 2025) acquitted former Coal Secretary H.C. Gupta and other officials of the Ministry of Coal in a case pertaining to alleged irregularities in the allocation of the Mahuagarhi coal block in Jharkhand. Special Judge Sanjay Bansal of the Rouse Avenue Court, however, convicted the firm M/s Jas Infrastructure Capital Pvt. Ltd....Read More
Mumbai (Maharashtra) [India], June 6 (ANI): Financial markets regulator SEBI has asked banks and mutual funds to attach the bank accounts and shares and mutual fund holdings of fugitive Mehul Choksi to recover Rs 2.10 crore dues for violating insider trading rules linked to shares of Gitanjali Gems. The dues of Rs 2.1 crore include Rs 1.5 crore penalty, Rs 60 lakh as interest (February 2022 to May 2025 at 1 per cent per month) and Rs 1,000 as recovery cost. Also Read | Bhagyashree's Husband Hi...Read More
Mumbai: Low-cost carrier Akasa Air on Friday announced a tie-up with Adani Airport Holdings to operate from the conglomerate-run Navi Mumbai airport once it begins operations in late-August. The city-headquartered airliner will have 15 domestic departures from the airport initially, which will go up to 50 by the end of the winter schedule, its Founder and Chief Executive Vinay Dube said. A few days ago, larger rival Indigo had announced a similar tie-up to operate from the new airport in the sa...Read More
New Delhi, June 6: Indian and U.S. officials engaged in high-level trade negotiations here to arrive at an interim deal on tariff cuts, ahead of the July 9 deadline, have decided to extend their ongoing talks into next week, according to a senior official. India's negotiating team, headed by Additional Secretary Rajesh Agrawal, has held talks over two days with senior officials from the Office of the United States Trade Representative (USTR), who arrived in Delhi for weekend talks. "The two co...Read More
PUNE: Automobile dealers clocked a modest rise of 5 per cent year-on-year to 22.12 lakh units in the retail sale of total vehicles in May, buoyed by healthy two- and three-wheeler sales. However, passenger vehicle (PV) sales bucked the trend, slipping 3.1 per cent as rising inventory and cautious consumer behaviour signalled a pause in demand recovery, the Federation of Automobile Dealers Associations or FADA data showed on Friday. The PV registrations last month stood at 3,02,214 units, as co...Read More
New Delhi, June 6 (SocialNews.XYZ) If you have a home loan, your EMI is set to reduce by over Rs 1,500 a month thanks to the Reserve Bank of India's latest move. With the central bank cutting the repo rate by 50 basis points -- from 6 per cent to 5.5 per cent -- banks are expected to lower interest rates on loans. For a Rs 50 lakh home loan over 20 years, this could mean monthly savings of Rs 1,569 and annual savings of nearly Rs 19,000, offering much-needed relief to borrowers amid high livin...Read More
Hyderabad, Jun 6 (PTI) Telangana Chief Minister A Revanth Reddy on Friday said BRS president K Chandrasekhar Rao should face an inquiry by the judicial commission on the Kaleshwaram project instead of attacking the Congress government. Addressing a public meeting after attending various development programmes in Yadadri-Bhuvanagri district, he referred to the judicial panel summoning KCR and the BRS criticising the state government on the matter. Also Read | Water Cut in Pune: Supply Suspended...Read More
Mumbai: The Multi Commodity Exchange of India (MCX) has received approval from the Securities and Exchange Board of India (Sebi) to launch electricity derivatives, according to a regulatory filing on the BSE. These contracts -- linked to the price of electricity -- will allow power generators, distribution companies, and large consumers to hedge against price volatility and manage risks more effectively. "The electricity derivatives contracts will enhance efficiency in the power market," MCX sa...Read More
New Delhi, Jun 6 (PTI) Silver prices soared Rs 3,000 to hit another record high of Rs 1,07,100 per kilogram in the national capital on Friday amid buying rush by local jewellers and stockists. Gold prices were little changed on Friday as a stronger-than-expected jobs report countered support from lingering geopolitical uncertainty, while silver touched its highest since 2012. According to the All India Sarafa Association, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per ...Read More
Medak (Telangana) [India], June 6 (ANI): Union Minister of State for Defence, Sanjay Seth, on Friday visited Ordnance Factory Medak in Telangana. Seth was received by Sanjay Dwivedi, CMD/AVNL, in the presence of Satyabrata Mukherjee, Director/Operations. As per a release, Sanjay Seth inspected the production facilities and enquired about the production schedules. The Union Minister was shown all the products manufactured at OF Medak. He appreciated and expressed satisfaction at the preparednes...Read More
Mumbai, June 6 (SocialNews.XYZ) The Bank of India (BOI) on Friday reduced its repo-based lending rate (RBLR) by 50 basis points, bringing it down from 8.85 per cent to 8.35 per cent. This move follows the Reserve Bank of India's (RBI) decision to cut the repo rate by 50 basis points, lowering it from 6 per cent to 5.5 per cent. The central bank's decision is aimed at boosting economic activity by making loans cheaper for businesses and individuals. The RBI's Monetary Policy Committee (MPC), l...Read More