SBI takes lead, slashes lending rate by 0.40% after RBI rate cut

Within couple of hours of rate cut by the Reserve Bank, country's largest bank SBI slashed its lending rate by 0.40 per cent to 9.3 percent. A statement issued by the SBI has said that with the reduction in the base rate, all loans, including home, auto and corporate, would become cheaper b...

RBI rate cut to drive growth, banks must follow suit: India Inc

Indian corporates and industries today said, the Reserve Bank's move to decrease the rate by 0.50 per cent is "pro-growth" and encourage the banks to transmit the decrease of interest rate to borrowers to rejuvenate the demand and investment cycle. CII Director General Cha...

FM Jaitley welcomes RBI decision to reduce repo rates<br/>

Finance Minister Arun Jaitley has welcomed the RBI decision to reduce repo rates. Talking to reporters in New Delhi, Mr Jaitley said, RBI rate cut actually implies that inflation has moderated significantly and is now in comfort zone. Mr Jaitley said, the government is committed to meeting fiscal de...

2G spectrum scam: SC dismisses pleas of Essar Teleholdings Ltd

The Supreme Court today dismissed pleas of Essar Teleholdings Ltd and its promoters challenging the Special CBI court&apos;s jurisdiction. The matter pertains to holding trial against them in 2G spectrum scam. The apex court had on September 22 reserved its verdict on a petition filed by the com...

Government open to dilute stake in PSU banks to 52%: Arun Jaitley

Govt open to reducing stake in state-run banks to 52%: Arun Jaitley

SEBI orders attachment of 134 properties of Saradha Realty India Ltd

Capital markets regulator SEBI has ordered attachment of 134 properties of Saradha Realty India Ltd, a West Bengal-based firm and its chief Sudipta Sen to recover 774.3 crore rupees collected illegally from investors along with other dues and the applicable interest.The properties being attached inc...

People earning 4 lakh rupees in small cities and not paying taxes on I-T radar

The Central Board of Direct Taxes (CBDT) has said the people who are earning four lakh rupees in small cities and not paying taxes are on the radar of the Income Tax department. In an Interview to a news agency, Chairperson of CBDT Anita Kapur said, there are about 18-20 per cent small taxpayers in ...

Investment scams: SEBI tightens surveillance on public media platforms

Concerned over a spurt in investment scams perpetrated through SMSes, WhatsApp and social media, Securities and Exchange Board of India (Sebi) has beefed up its surveillance on such platforms. It is seeking greater co-operation from mobile and internet service providers, as well as banks, so that no...

FMC-SEBI merger to bring convergence, widen size and scope of markets: Jaitley

In an industry-first, two regulators - Forward Markets Commission (FMC) and capital markets watchdog-the Securities and Exchange Board of India (SEBI) Sebi-were today merged to create a unified regulatory body. The formal merger ceremony took place in Mumbai today in the presence of Union Finance Mi...