BUSINESS

Gold price rises Rs 241; silver jumps Rs 781

7:39 pm March 1, 2021

New Delhi: Gold prices on Monday rose by Rs 241 to Rs 45,520 per 10 grams in the national capital in line with the strong global bullion market trend, according to HDFC Securities. The precious metal had closed at Rs 45,279 per 10 grams in the previous trading session. Silver also jumped by Rs 781 […]

Sensex soars 750 pts as investors cheer Q3 GDP data

7:35 pm March 1, 2021

Mumbai: The benchmark BSE Sensex surged nearly 750 points and NSE Nifty rallied over 232 points on Monday as investors cheered the domestic economy returning to positive territory after two quarters of contraction. The 30-share BSE index briefly traded above the 50,000-mark during the mid-session, before ending at 49,849.84, showing a rise of 749.85 points […]

Digital currency can transform payment transactions; poses disintermediation risk: RBI report

11:24 pm February 26, 2021

New Delhi: Central Bank Digital Currency (CBDC) has the potential to bring about a sea change in payment transactions and quicken transmission, says a report released by the Reserve Bank of India (RBI). However, the virtual currency poses a risk of disintermediation of the banking system, the Report on Currency and Finance (RCF) for the year 2020-21 released on […]

RBI imposes Rs 2 crore fine on Bank of Maharashtra

11:01 pm February 26, 2021

New Delhi: The Reserve Bank of India on Friday said it has imposed a monetary penalty of Rs 2 crore on Bank of Maharashtra for non-compliance with certain direction on fraud classification and reporting. The RBI has imposed, by an order dated February 25, 2021, a monetary penalty of Rs 2 crore on Bank of Maharashtra (the bank) for contravention of […]

Vedanta Resources raises USD 1.2 bn ahead of open offer for Indian listed unit

10:48 pm February 26, 2021

New Delhi: Vedanta Resources on Friday said it has raised USD 1.2 billion in a bond offering that saw strong investor interest. The 8.95 per cent bonds due for March 2025 ”will be guaranteed by the company and two wholly-owned indirect subsidiaries of the company, namely Twin Star Holding Ltd and Welter Trading Limited,” it […]