Interest-rate sensitive stocks suchas banking and realty today plunged up to 10%, after RBI raised lending rates in order to stem rupee volatility. The BSE realty index ended 5.84% lower at 1,457.29 and was the top loser among 13 sectoral indices.
The steps taken by the RBI to curb rupee volatility is a clear pointer that your EMIs are unlikely to come down when the central bank reviews monetary policy on July 30. Sachin Kumar
British bank Barclays has been hit by US federal regulators with a $453-million (344-million-euro) fine for alleged electricity price manipulation in western US markets, a charge which the scandal-hit bank denies.
Federal Reserve chairman Ben Bernanke said today the US central bank still expects to start scaling back its massive bond purchase programme later this year, but he left open the option of changing that plan if the economic outlook shifted.
The Reserve Bank of India managed to sell around Rs. 11,500 crore ( Rs. 11,482 crore) of government bonds of its targeted Rs. 15,000 crore on Friday showing that the panic in bond market has subsided.
State Bank has re-jigged its second tier management by moving P Pradeep Kumar, deputy managing director in-charge of global markets and treasury operations, to head the large corporate group.
Governor Duvvuri Subbarao’s remarks on Saturday that he has not yet been offered an extension when his five-year term as head of the RBI comes to an end, has triggered speculation about his likely successor. HT
In its hurry to spread the direct transfer scheme aimed at aiding beneficiaries of government welfare schemes, India's bankers may be slackening on a key regulatory requirement — Know Your Customer (KYC) norms. Mahua Venkatesh reports.
Finnish company Uniqul has developed the world's first payment system which recognises customers' faces and helps them pay without having a wallet, credit card or mobile phone.
Filing income tax returns has now become mandatory for salaried individuals earning up to R5 lakh per annum, the Central Board of Direct Taxes (CBDT) said today. HT reports.
Bank of India today reported 8.6% rise in its net profit at Rs. 964.18 crore for the first quarter ended June 30, 2013.
Amidst bankers and industry crying foul over RBI's move to squeeze liquidity, Reserve Bank Governor D Subbarao today met Finance Minister P Chidambaram ahead of first quarter policy review next week.
The frequency of natural calamities is a cause for concern. The destruction it brings with it leaves a big hole in the pockets of those affected. However, with a little care, you can avoid the financial setback. Deepti Bhaskaran reports.
Bank of India on Friday announced 9% year-on year rise in net profit to R964 crore for the quarter ended June 2013 compared with R887 crore in the corresponding quarter the previous year, helped by healthy growth in interest and non-interest income.
The Finance Ministry is considering a proposal to allow five private fund managers to manage pension corpus of government employees.