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New Delhi [India], August 21 (ANI): The Export-Import Bank of India (India Exim Bank) and ECOWAS Bank for Investment and Development (EBID) have signed a commercial credit line agreement of USD 40 million. The agreement will create new opportunities for Indian businesses to access the African markets, strengthening bilateral economic ties. India Exim Bank has consistently fostered enduring trade and investment partnerships that connect Indian capabilities with the developmental priorities of A ...Read More >
Mumbai, Aug 14 (SocialNews.XYZ) Maharatna public sector company Indian Oil Corporation Limited (IOCL) on Thursday posted an 83 per cent year-on-year (YoY) jump in consolidated net profit for the April-June quarter (Q1) of FY26. Net profit for Q1 FY26 came in at Rs 6,808.12 crore, up from Rs 3,722.63 crore in the same quarter previous fiscal (Q1 FY25), according to its stock exchange filing. However, the figure was lower than the Rs 8,367.63 crore profit recorded in the March 2025 quarter. Rev ...Read More >
Mumbai : Punjab National Bank (PNB), India's leading public sector bank, has signed a Memorandum of Understanding (MoU) with Maruti Suzuki India Limited (MSIL), to provide comprehensive inventory funding solutions for Maruti Suzuki's dealer network across India. This strategic partnership will offer customised financial products designed to enhance working capital access and strengthen the operational capabilities of automobile dealers nationwide. PNB is providing sanctions for credit facilitie ...Read More >
Srinagar, Aug 14: Saifco Cements Pvt. Ltd, a subsidiary of JK Cement Ltd - one of the leading cement companies of India, today announced the launch of JK Super Cement brand in Kashmir, marking a significant milestone in the journey ahead. This move signals the operational rollout of JK Cement's recent acquisition in the region and aligns with its broader ambition to support infrastructure and economic growth in Jammu & Kashmir. JK Super Cement, the company's flagship grey cement brand known for ...Read More >
New Delhi: Protest at the Aligarh Muslim University (AMU) against a recently announced fee hike, the long-standing suspension of students' union elections and calls for administrative accountability have entered their sixth day, with students boycotting classes and staging sit-ins at the Bab-e-Syed gate (the iconic entrance of the varsity). The fee structure for different courses has witnessed a sharp revision. Students say the hike ranges from 25% to over 60% across various programmes. Many cl ...Read More >
Mumbai - NTT DATA, a global leader in digital business and technology services, today announced a global partnership with Google Cloud to accelerate AI-powered cloud innovations and unlock new possibilities with AI for enterprise organizations across industries. This collaboration combines NTT DATA's deep industry expertise in AI, cloud-native modernization and data engineering with Google Cloud's advanced analytics, AI and cloud technologies to deliver tailored, scalable enterprise solutions. ...Read More >
Mumbai: The State Bank of India (SBI), the country's largest public sector bank, has announced a revision in its Immediate Payment Service (IMPS) transaction charges for online fund transfers. Starting August 15, customers transferring more than Rs 25,000 through online platforms such as internet banking or mobile banking will be subject to nominal fees. This marks a significant shift in the bank's digital transaction policy, although IMPS transactions made through branches will remain unaffecte ...Read More >
Mumbai: ICICI Bank has taken a step back on its earlier decision to increase the minimum average balance (MAB) required in new savings accounts. The bank had recently raised the MAB from Rs 10,000 to Rs 50,000 for new accounts opened on or after August 1. However, after receiving many complaints and feedback from customers, ICICI has now reduced the amount to Rs 15,000. New Balance Rules Explained The revised minimum balance for new savings accounts is now Rs 15,000 in regular branches, Rs 7,5 ...Read More >
Mumbai, Aug 14 (SocialNews.XYZ) Bollywood actor Shilpa Shetty Kundra, her businessman husband Raj Kundra, and an unidentified individual have been booked by the Economic Offences Wing (EOW) for allegedly defrauding a Mumbai-based businessman of Rs 60.4 crore in a loan-cum-investment deal linked to their now-defunct company, Best Deal TV Pvt Ltd, police said on Thursday. According to Mumbai Police, businessman Deepak Kothari has accused the couple of jointly cheating him of more than Rs 60 crore ...Read More >
CHENNAI: Protests in unauthorised locations cannot be permitted, and the cleanliness workers who have been staging a stir on the pavement outside the Ripon Building should move to designated protest zones, said a Division Bench of Chief Justice Manindra Mohan Shrivastava and Justice Sunder Mohan on Wednesday. "While the right to protest is fundamental, it cannot infringe upon the rights of the public," the bench observed, instructing the authorities to clear the area outside Ripon Building "at ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk an ...Read More >
Srinagar, Aug 13: Saifco Cements Pvt. Ltd, a subsidiary of JK Cement Ltd - one of the leading cement companies of India, Wednesday announced the launch of JK Super Cement brand in Kashmir, marking a significant milestone in the journey ahead. This move signals the operational rollout of JK Cement's recent acquisition in the region and aligns with its broader ambition to support infrastructure and economic growth in Jammu and Kashmir.A statement issue here said that JK Super Cement, the company's ...Read More >
Mumbai: Recent declines in India's forex stockpile signal significant home-and-away central bank interventions in the past fortnight, estimated by some to be worth about $5-$6 billion in the offshore rupee market, to curb excessive depreciation of the local currency, bank treasury officials told ET. Market participants point to at least two instances of the Reserve Bank of India's (RBI) likely presence in the offshore non-deliverable forwards (NDF) market, particularly around 9 am, just before ...Read More >
New Delhi, Aug 8 (PTI) Cabinet on Friday approved Rs 30,000 crore LPG subsidy to state-run oil companies -- Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) -- to compensate for losses incurred from selling LPG at below cost over the past 15 months. The compensation to oil marketing companies (OMCs) will be paid in 12 tranches, as per an official statement. The international prices of LPG were at high levels during 2024-25 and continue to remain high. Howev ...Read More >
New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday approved Rs 30,000 crore compensation to three public sector Oil Marketing Companies (IOCL, BPCL and HPCL) for the under-recoveries incurred on the sale of domestic LPG. The distribution of the compensation within the OMCs will be done by the Ministry of Petroleum and Natural Gas. The compensation will be paid in 12 tranches, a Cabinet communique said. According to the government, this significant step also underl ...Read More >
Hyderabad (Telangana) [India], August 4: Rx Propellant, an Actis platform, is proud to announce that 1GV, its flagship life sciences campus located in Genome Valley, Hyderabad, has been awarded the prestigious EDGE Advanced Certification by the International Finance Corporation (IFC), a member of the World Bank Group. This recognition highlights 1GV exceptional performance in energy efficiency, water conservation, and use of low-carbon materials--cementing its position as one of the most sustain ...Read More >
NEW DELHI: The Enforcement Directorate is likely to summon some bankers for questioning in the investigation related to loans issued to the Anil Ambani group that later became non-performing assets. The investigative agency has sent letters to the managements of 12-13 banks, both in the private and public sectors, seeking details about the procedures and due diligence followed in sanctioning loans to Reliance Housing Finance, Reliance Communications and Reliance Commercial Finance, , according ...Read More >
For the first time in its history, the Himachal Pradesh State Electricity Board Limited (HPSEBL) has earned a record profit of Rs. 315 crore in the financial year 2024-25. After facing losses for many years, this is the highest profit ever recorded by the Board. Until 31 March, 2024, HPSEBL had accumulated losses amounting to Rs. 3,742 crore. However, the present state government, through its reforms, transparent administrative policies and financial discipline helped the Board recover from lo ...Read More >
Lucknow, Aug 4 (SocialNews.XYZ) In a significant moment for public sector recruitment in Uttar Pradesh, Chief Minister Yogi Adityanath on Sunday handed over appointment letters to 1,374 assistant operators and 120 workshop employees selected for the UP Police Telecom Department. The ceremony, held at "Indira Gandhi Pratishthan", marked another stride in the state's commitment to transparent, merit-based recruitment under "Mission Rozgar." Addressing the newly appointed personnel, the Chief Min ...Read More >
Lucknow (Uttar Pradesh) [India], August 3 (ANI): Uttar Pradesh Chief Minister Yogi Adityanath is closely monitoring the flood situation in Uttar Pradesh, issuing timely directives to ensure effective relief efforts. Acting on his instructions, state ministers are inspecting affected areas, while Relief Commissioner Bhanu Chandra Goswami informed that floods have impacted 37 tehsils and 402 villages, affecting 84,392 people. Of these, 47,906 have received assistance, and 2,759 animals have been ...Read More >
NEW DELHI: State-controlled Bharat Sanchar Nigam Limited (BSNL) has signed a Memorandum of Understanding (MoU) with the Numaligarh Refinery (NRL) to deploy a private 5G network for the public sector oil company, which would be India's first captive non-public network (CNPN) in the refinery sector. BSNL and NRL, in a joint statement on Sunday, said that the deployment would usher in a new era of secure, ultra-reliable, and real-time industrial connectivity, while supporting mission-critical oper ...Read More >
New Delhi: The CBI has arrested a customs superintendent posted at Sahar airport in Mumbai, for allegedly taking a Rs 10.20 lakh bribe from an agent, an official said Sunday. The central probe agency booked Krishan Kumar for allegedly demanding a bribe at the rate of Rs 10 per kg for facilitating clearance of imported consignments from a customs house agent, a CBI spokesperson said. It was also alleged that Kumar threatened the agent when he refused to pay the bribe, and deliberately withheld ...Read More >
New Delhi: State-run telecom firm Bharat Sanchar Nigam Limited (BSNL) on Sunday inked a pact with public sector firm Numaligarh Refinery Limited for the deployment of the 5G private network in the refinery sector. It will not only help in connectivity but also in redefining how core industries can operate in the future, an official statement said. BSNL has just started offering 4G services, but holds spectrum that can be used for 5G services. However, the partnership between BSNL and NRL is exp ...Read More >
New Delhi, Aug 3 (SocialNews.XYZ) Public sector mining major NMDC has recorded a 42.4 per cent jump in iron ore production to 3.09 million tonnes (MT) in July this year, compared to the corresponding figure of 2.17 MT in the same month last year. The company's sales of iron ore rose 13.07 per cent to 3.46 MT in July, from 3.06 MT in the same month of the previous year. Iron ore production in the company's Chhattisgarh division surged 54.92 per cent year-on-year to 1.89 MT during the month, whi ...Read More >
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank (IDBI.NS), opens new tab and plans to invite financial bids between October and December, the country's divestment secretary said on Friday. A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary. Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan An ...Read More >
The Indian Cybercrime Coordination Centre (I4C) has predicted that the cybercrime losses could soar beyond Rs 1.2 lakh crore in 2025 if current trends persist. The cybercrime crisis in India is fast escalating. The financial frauds are bleeding the country of tens of thousands of crores each year. According to a report by DataLEADS, Indians lost Rs 22,842 crore to online fraudsters in 2024. The following figures will shock you more -- the 2024 figures are nearly three times higher than the Rs 7 ...Read More >
Chennai, August 1: Actor, music director and producer G V Prakash Kumar, who has won the National Award for Best Music Direction (Songs) for the Tamil, Telugu bilingual film Vaathi, has called the honour "a blessing for the second time". Taking to his X timeline soon after the 71st National Awards were announced, G V Prakash expressed his gratitude to the jury and the selection committee of the National Awards and the entire team of Vaathi. G V Prakash wrote, "A blessing for the second time. I' ...Read More >
DIPAM Secretary Arunish Chawla stated that the finance ministry is conducting weekly capital reviews of public sector undertakings. The government is formulating strategies to shield the Indian economy from geopolitical risks, as public sector enterprises now constitute nearly 15% of total market capitalization. These measures are being taken in response to trade-related concerns and global market pressures. The finance ministry is doing weekly capital review of all public sector undertakings a ...Read More >
New Delhi: The government is preparing to invite financial bids in the third quarter (October-December) of FY26 for a strategic stake sale of IDBI Bank, as potential buyers have completed due diligence, Department of Investment and Public Asset Management (DIPAM) secretary Arunish Chawla said on Friday. "All data room protocols have been finalized for interested bidders," Chawla told reporters, indicating that the divestment process is now ready to move into its final stages. "We hope to invit ...Read More >
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