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Giridih (Jharkhand), April 8 (SocialNews.XYZ) The Pradhan Mantri Mudra Yojana (PMMY) is emerging as a strong pillar of support for small entrepreneurs in Jharkhand's Giridih district, enabling hundreds of people to start their own ventures and move towards financial independence. Under the scheme, collateral-free loans have facilitated the establishment of various small businesses, including retail shops, tailoring units, mineral water plants, e-rickshaws, and street vending enterprises. This h ...Read More >
Mumbai : Bank earnings in FY26 are set to shift from margin-led gains to volume-driven growth, even as funding pressures intensify with banks increasingly tapping costly wholesale sources to sustain credit expansion. According to data released by RBI, system-level advances grew 13.8% as of March 15, outpacing deposit growth of 10.8%, widening the gap between loans and liabilities. This divergence has intensified competition for funds, pushing banks to rely more on high-cost certificates of depos ...Read More >
Anil Ambani and Reliance Communications are under renewed scrutiny as the CBI launches a fresh investigation into allegations of a Rs 3,750 crore fraud against the Life Insurance Corporation (LIC) involving Non Convertible Debentures. Photograph: Prashant Waydande/ReutersKey PointsThe CBI has filed a new case against Anil Ambani and Reliance Communications for allegedly defrauding LIC of Rs 3,750 crore.The case involves alleged conspiracy, cheating, misappropriation, and violations of the Preve ...Read More >
New Delhi: The Central Bureau of Investigation Wednesday registered a case against Reliance Communications Ltd (RCom), Anil Ambani, unknown public servants, and unknown others on allegations of causing wrongful loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India. The case has been registered based on a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption Act, accor ...Read More >
New Delhi: The Central Bureau of Investigation on Wednesday registered a case against Reliance Communications Ltd (RCom), Anil Ambani, unknown public servants, and unknown others on allegations of causing wrongful loss of Rs 3,750 crore to Life Insurance Corporation (LIC) of India. The case has been registered on the basis of a complaint received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation, and offences under the Prevention of Corruption ...Read More >
MUMBAI: Home loan rates are set to drop to levels last seen before the global financial crisis in 2008, with the RBI's monetary policy committee reducing the repo rate by 25 basis points to 5.25%.Several banks -- Union Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank -- currently offer home loans at 7.35%. Borrowers at this rate will see their interest rate decline to 7.1%, which is also the deposit rate offered by some private banks. On a Rs 1 crore home loan for 15 years, a 0. ...Read More >
New Delhi, Oct 17 (PTI) A court in Antwerp on Friday cleared the extradition of fugitive diamantaire Mehul Choksi, noting that his arrest by the Belgian authorities on India's request was valid, officials in the know of the development said. The order has come as a strong validation for India's case seeking his extradition, with Choksi having the option of appealing against the decision in a superior court in Belgium, they said. "The order has come in our favour. The court has termed his arres ...Read More >
According to Reserve Bank of India (RBI) data, system credit growth edged up to 10.3% year-on-year as of September 5, compared with 10% as of August 22, while deposit growth moderated to 9.8% from 10.2% over the same period. The system credit-deposit ratio remained elevated at 79% as of September 2025. Mumbai: Banks reported modest loan growth in the September quarter, broadly in line with the system-wide expansion of around 10.5%, while deposit growth remained resilient despite recent rate cut ...Read More >
Mumbai: State-run Bank of Maharashtra aims to raise at least ₹2,000 crore by selling shares through a qualified institutional placement (QIP) or an offer for sale this financial year to reduce the government's stake in the lender to 75% and meet the market regulator's minimum public shareholding norm. "We will work it out, because as per the current prices, to comply with the Sebi norms, even at the current price, around ₹2,000 crore should suffice," managing director and chief executive office ...Read More >
New Delhi, Aug 25 (PTI) Infrastructure EPC company Vikran Engineering on Monday said it has mobilised Rs 231.6 crore from anchor investors a day before its initial share-sale opening for public subscription. This anchor portion witnessed participation from various investors, including Bank of India Mutual Fund (MF), ITI MF, Samco MF, SBI General Insurance, IMAP India, Bengal Finance and Investment, VPK Global, and Societe Generale, among others, according to a circular uploaded on the BSE websi ...Read More >
Patna: Non-vegetarian dishes have made Bihar's politics spicier on several occasions, and so union minister and senior JD (U) leader Rajiv Ranjan Singh aka Lalan Singh' recent mutton party for party workers and supporters under his Munger constituency was no exception. Lalan Singh listened to problems of common people at Suryagarha in Lakhisarai district of Bihar (part of Munger constituency) to sort them out with local authorities and also threw a mutton party for them, creating a controversy ...Read More >
MUMBAI : In the face of decadal-low savings rates, state-run banks are hoping that dropping charges for not maintaining a minimum balance will help hold customers' interest in bank deposits. The decision, said two bankers close to the matter, follows a regulatory push to address customer grievances, as well as internal surveys that estimated limited revenue loss if such minimum balances are not maintained. "The Reserve Bank of India wanted us to look into complaints, and this was one of the ma ...Read More >
New Delhi, Jul 15 (PTI) State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,585 crore from seven public sector banks, the company said in a regulatory filing on Tuesday. The loss-making public sector telecom firm's total debt obligations reached Rs 34,484 crore as on June 30, 2025 comprising bank loan of Rs 8,585 crore, sovereign guarantee bond Rs 24,071 crore and loan for DoT for paying Sovereign Guarantee Bond interest Rs 1,828 crore, according to the filing. Also Read | Gemin ...Read More >
New Delhi, Jul 15 (PTI) State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,585 crore from seven public sector banks, the company said in a regulatory filing on Tuesday. The loss-making public sector telecom firm's total debt obligations reached Rs 34,484 crore as on June 30, 2025 comprising bank loan of Rs 8,585 crore, sovereign guarantee bond Rs 24,071 crore and loan for DoT for paying Sovereign Guarantee Bond interest Rs 1,828 crore, according to the filing. The total loan de ...Read More >
New Delhi: Good news for bank customers! Several major public sector banks in India have scrapped the requirement to maintain an Average Monthly Balance (AMB) in savings accounts. This move comes as a big relief for account holders, especially those struggling to meet the minimum balance rules. Average Monthly Balance (AMB) is the average amount you need to keep in your savings or current account every month. Banks calculate this at the end of each month. If your balance falls below the require ...Read More >
Jaipur: Government banks across Rajasthan were closed, and around 11,000 bank employees and officers in the state joined the nationwide strike on Wednesday to press for their demands. The protest is part of a larger movement by bank employees in support of 17 key demands. According to Mahesh Mishra, General Secretary of the Rajasthan State Bank Employees Union, major banking associations have supported the strike. PNB, Bank of India, Indian Bank and Union Bank of India are observing strikes, ...Read More >
New Delhi, July 8 (SocialNews.XYZ) Finance Minister Nirmala Sitharaman on Tuesday received dividend cheques to the tune of Rs 5,304 crore on behalf of the government from three public sector banks for the financial year ended on March 31, 2025. A dividend cheque of Rs 2,335 crore for FY 2024-25 was presented to the Finance Minister, in her North Block office, by Punjab National Bank MD and CEO Ashok Chandra, while Bank of India MD & CEO Rajneesh Karnatak presented a cheque of Rs 1,353 crore. Th ...Read More >
Chandigarh (Punjab) [India], July 1 (ANI): Punjab Minister Tarunpreet Singh Sond alleged that "drugs reached every house" in Punjab during the ten years of the Shiromani Akali Dal-Bharatiya Janata Party alliance government. He further alleged that the Aam Admi Party (AAP)-led government in Punjab has "proof" of their link with the drug smugglers. Also Read | Sigachi Chemical Factory Blast Update: Death Toll in Explosion at Chemical Factory in Telangana's Sangareddy Rises to 34, CM Revanth Redd ...Read More >
Mumbai, June 8 (SocialNews.XYZ) Several major banks, including Punjab National Bank (PNB), Bank of India and UCO Bank, have slashed their lending rates following the Reserve Bank of India's (RBI) recent decision to cut the repo rate by 50 basis points. The rate cut is part of the RBI's strategy to stimulate economic growth by making borrowing more affordable for both consumers and businesses. Punjab National Bank was among the first to pass on the benefit, lowering its repo-linked lending rate ...Read More >
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relative ...Read More >
Around 16 equity mutual funds have offered more than 30% CAGR in the last three years, based on the daily rolling returns. There were around 222 equity mutual funds that have completed three years of existence in the market. These 16 schemes were from six different categories. 10 small cap funds, two mid cap funds, a multi cap, flexi cap, contra fund, and an ELSS fund offered over 30% CAGR in the mentioned period. The first four toppers in the list were from the small cap category. Quant Small ...Read More >
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