SBI (State Bank of India) on Friday posted an 81 per cent spike in standalone net profit at Rs 4,189.34 crore for the first quarter of current fiscal as bad loans declined. The lender had reported a net profit of Rs 2,312.02 crore in the April-June quarter of 2019-20.
The Reserve Bank of India is likely to leave repo rate unchanged in the upcoming policy review meeting and the Monetary Policy Committee may look for "unconventional policy measures" to ensure financial stability, says a report.
The Supreme Court bench led by Justice Arun Mishra on Friday barred registration of BS-IV vehicles till further orders. SC expressed displeasure about large number of vehicles that were sold in March, and observes that something "fraudulent" may have taken place.
Riding on surging online sales during the pandemic as people stayed home, Amazon reported solid second-quarter results, registering a 40 per cent increase in net sales to $88.9 billion, compared with $63.4 billion in the same period last year.
Rajan said that because of the slide in the growth over the last few years, India entered the current crisis in a more "debilitated" state as compared to its peers.
Tata Power on Thursday said it has received shareholders' approval to raise Rs 2,600 crore via issuance of preferential shares to its promoter Tata Sons.
The largest mortgage lender HDFC on Thursday reported a solid set of numbers with a 15 per cent growth in consolidated net income at Rs 4,059 crore, along with better margins and asset quality among other key metrics in the pandemic ravaged June quarter.
The rupee fell 4 paise to close at 74.84 against the American currency on Thursday amid month-end dollar demand from importers and a weak trend in domestic equities.
Life Insurance Corporation on Thursday declared a marginal 1.31 per cent higher policy payout at Rs 2,54,222.3 crore for 2019-20 despite the insurer logging in the best-ever show on new business premium that jumped 25.2 per cent to Rs 1,77,977 crore.
Reliance Industries Ltd on Thursday reported a better-than-expected net profit of Rs 13,248 crore in the June quarter on the back of exceptional income. Net profit was Rs 10,141 crore in the same period a year back, the company said in a regulatory filing.
The U.S. economy shrank at a dizzying 32.9 per cent annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%.
Mother Dairy, a leading milk supplier in Delhi-NCR, on Thursday forayed into bread segment as part of its strategy to diversify business, and announced its target to more than double its revenue to Rs 25,000 crore in the next five years. Mother Dairy has launched three types of breads -- sandwich, brown, and fruit & milk -- in a price range of Rs 15-40 per packet.
Amazon founder and CEO Jeff Bezos has said that he cannot guarantee the company employees have not accessed third party seller data.
In a big relief for Central government employees, who are retiring during the COVID-19 pandemic, the Narendra Modi led central government has decided to ensure provisional pension for them till their regular Pension Payment Order (PPO) is issued and other formalities completed
Reels, a video-music remix feature, has been extended in its test phase to India which was until now the biggest market for TikTok, which has now been banned along with other Chinese apps.
Yes Bank has taken over the headquarter of Anil Ambani’s group in surburban Santacruz for failure to repay dues worth Rs 2,892 crore.
Fashion e-tailer Myntra is holding discussions for taking its fashion brands to international markets like Southeast Asia and Europe. The Flipkart-owned company on Wednesday announced its foray into the Middle East market with its partnerships with e-commerce platforms, noon.com and namshi.com.
The government on Wednesday extended the deadline for filing income tax returns for 2018-19 fiscal by two months till September 30.
Prime Minister Narendra Modi on Wednesday held a meeting with top bankers and impressed upon them the need to push lending towards the productive sectors for revival of the economy hit by the COVID-19 pandemic.
The government has for the third time extended the deadline for bidding for privatisation of India's second-biggest oil refiner Bharat Petroleum Corp Ltd (BPCL) by two months to September 30.
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