Economic Offence

As India’s economy slows down, frauds are on the rise

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The latest annual report of the RBI has estimated the amount involved in frauds of above Rs.1 lakh in Indian banks’ at Rs.71,543 crores in 2018-19, up by 74% from Rs. 41,168 crores in 2017-18.

Former Infosys CEO Vishal Sikka joins Oracle’s board of directors

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Cloud giant Oracle has named Vishal Sikka, ex-Infosys CEO, founder and CEO of the Artificial Intelligence company Vianai Systems, to its Board of Directors. Vishal's...
An SBI ATM in night

SBI under-reported bad loans by 11,932 crore in FY19 : RBI

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State Bank of India (SBI) under-reported bad loans by ₹11,932 crore in FY19, a Reserve Bank of India (RBI) risk assessment report has found. The...
Hyundai I20

Hyundai to increase Vehicle prices from January 2020

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Hyundai Motor India on December 10 said it will increase prices of its entire product range from January 2020 to balance rising input costs Not...
GST

In Apr-Nov, Central GST collection falls short of budget estimation by 40%

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The minister informed that it has inserted a new CGST restriction that the input tax credit (ITC) availed by a taxpayer shall not exceed 20 per cent of the eligible credit available
Chanda Kochar

Chanda Kochhar challenges RBI decision to terminate her; Bombay HC seeks reply

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The central bank has given the consent on March 13 this year to the bank management on Kochhar’s termination, after the bank fired her on January 31.
Onions

Central govt reduces onion stockholding limit for retailers to 2 tonnes

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Onion prices have been riding high since the past few weeks on account of a fall in production of the Kharif crop
Coin

Rupee opens up at 70.96 per dollar, highest this month

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Following the decline in crude oil prices on Monday, Indian rupee ended higher by 16 paise at 71.05.
Insurance

FDI limit may rise to 74% for insurance companies in the coming February budget

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If everything goes well, the government may introduce this as part of the budget announcement and can take a shortcut so to get the nod of parliament as part of the Finance Bill.
State Bank of India

SBI cuts one-year MCLR by 10 base points, home loans to get cheaper

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After this cut, SBI's one-year MCLR comes down to 7.90% per annum from 8.00% per annum