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  • Other-Business-News

    Yes Bank's Rs 15,000 crore FPO to open on July 15

    Yes bank said the offer size of the FPO is Rs 15,000 crore including an employee reservation portion of up to Rs 200 crore New Delhi: Private sector lender Yes Bank on Thursday said it has filed a red herring prospectus to raise up to Rs 15,000 crore through issuance of fresh equity shares in its further public offering (FPO). The offer will open on July 15, 2020 and close on July 17, 2020....

    • 4 hrs ago
  • Just in

    Ensure bankers' safety, take stern action against unruly: Finance ministry to states

    Last month, a woman bank employee in Canara Bank (erstwhile Syndicate Bank) was attacked by a police constable at Saroli branch in Gujarat New Delhi: The Finance Ministry has requested states to ensure safety and security of bank officials and take stern action against perpetrators following incidences of attack on bankers in some parts of the country in the...

    • 5 hrs ago
  • Other-Business-News

    India, US to initiate clinical trials for Ayurvedic formulations against COVID-19

    According to the ambassador, there are at least three ongoing collaborations between Indian vaccine companies with US-based institutions Washington: Ayurvedic practitioners and researchers in India and the US are planning to initiate joint clinical trials for Ayurveda formulations against the novel coronavirus, the Indian envoy here has said. In a virtual...

    • 7 hrs ago
  • Other-Business-News

    SBI to invest Rs 1760 crore in Yes Bank

    In March this year, SBI board had approved an investment of Rs 72.50 billion into the troubled lender Yes Bank. BENGALURU: State bank of India, country's largest lender's executive committee has approved a further investment of upto Rs 1760 billion in public offering of Yes Bank, according to a regulatory filing. In March this year, SBI board had approved an investment of Rs 7250 billion into the...

    • 8 hrs ago
  • Business

    H1-B visa suspension by US to have Rs 1,200 crore impact on Indian IT firms: Crisil

    Visas used by Indian tech professionals were suspended by the Donald Trump administration as it looked to arrest the rising unemployment Mumbai: Suspension of the H1-B visas by the US will cost domestic IT firms Rs 1,200 crore and have a marginal 0.25-0.30 per cent impact on their profitability, a domestic rating agency said on Monday. An increase in local...

    • 3 days ago
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    Port sector to witness cargo volume contraction, project delays: ICRA

    Further, factors like changes in global supply chain pattern during the recovery phase will also have an impact on the cargo profile New Delhi: Although the port sector has been classified under essential services and remained operational during the lockdown, the adverse impact on domestic economic activity as well as a slowdown in global trade has resulted in a steep...

    • 4 days ago
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    MSMEs feel heat due to delay in clearance of Chinese goods

    Officials at Chennai Customs, however, told that they clear the goods of big companies because they have their own logistic facilities Chennai: With China-origin consignments being held up at Customs clearance point, exporters and businessmen in the MSME sector are worried about the consequences for them. Raja M. Shanmugham, president of the Tiruppur Exporters Association (TEA), told...

    • 5 days ago
  • Headlines

    I-T department refunds ₹62,000 crore to 20 lakh taxpayers

    The income tax department has issued tax refunds at a speed of 76 cases per minute from April 8 to June 30, 2020 New Delhi: The income tax department has issued refunds worth Rs 62,361 crore to over 20 lakh taxpayers between April 8 and June 30. This includes personal income tax (PIT) refunds amounting to Rs 23,453.57 crore issued to 19.07 lakh taxpayers and corporate tax refunds...

    • 6 days ago
  • Headlines

    Banning power equipment imports from China, Pakistan: R K Singh

    He further said state discoms should not give orders for supply of equipment to Chinese firms New Delhi: Power Minister R K Singh on Friday said that India will not import power equipment from China, amid border standoff with China. During a virtual press conference with state counterparts, he also asserted that the equipment import from China and Pakistan would not be permitted...

    • 6 days ago
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    India's services sector activity contracts sharply in June

    While manufacturing production fell moderately, edging closer to stabilisation, services activity continued to decrease substantially New Delhi: India's services sector activity remained in deep downturn in June as the COVID-19 pandemic curtailed intakes of new work orders and disrupted business operations, a monthly survey said on Friday. The IHS Markit India Services Business...

    • 6 days ago