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Devika Singh
August 14, 2018
Over 63 per cent of respondents who were aware about the regulation and its requirements reported that they were non-compliant.


BusinessToday.In
New Delhi, August 7, 2018
According to the committee, the RBI should have engaged more in consultations with stakeholders on the matter before resorting to discontinuation of LoU/LoCs [letters of comfort].


PTI
August 7, 2018
Union Minister Arun Jaitley, who had undergone a kidney transplant surgery on May 14, is likely to resume office of Finance Minister in the third week of August, sources said.


PTI
New Delhi, August 7, 2018
Word that Facebook is fishing for financial information comes amid concerns that it has not vigilantly guarded private information.


BusinessToday.in
New Delhi, August 6, 2018
Banks collect Rs 5,000 cr as minimum balance penalty in FY 2017-18As many as 21 public sector banks (PSBs) and three major private sector lenders have collected a whopping Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18. Among the PSBs, the State Bank of India emerged the highest earner with Rs 2433 crore penalty - nearly half of the total collection.PM Modi to inaugurate India Post Payments Bank on August 21Prime Minister Narendra Modi on August 21 will launch long-awaited India Post Payments Bank (IPPB) that will have at least one branch in every district and focus on financial services in rural areas, a senior official said.IPPB will leverage reach of 1.55 lakh post office branches to provide banking and financial service to people in rural area.Govt panel wants localisation of cloud storage data in possible blow to big tech firmsA panel working on the government's cloud computing policy wants data generated in India to be stored within the country, according to its draft report seen by Reuters, a proposal that could deal a blow to global technology giants such as Amazon and Microsoft who offer such services. It could not only raise their costs because they will need to ramp up the number and size of data storage centers in India, where power costs remain high, but at least some of those increases are likely to be passed onto customers who include everyone from small start-ups to large Indian corporations.US-China trade war can make Indian products competitiveWith the US imposing additional 25 per cent duty on imports worth USD 34 billion from China, certain Indian products may become more competitive, CII has said. An analysis by the industry chamber revealed that India should focus on the US market for items in the categories of machinery, electrical equipment, vehicles and transport parts, chemicals, plastics and rubber products.Top corporates prepare to split CMD postLarge corporates like HUL and RIL have started making arrangements to comply with regulator Sebi's directive to split the roles of chairman and managing director by April 1, 2020, but several smaller companies are still giving their CMDs tenures beyond the deadline. Sebi is keen to extend this requirement to all listed companies eventually. For now, it is keeping an eye on top 500 firms which are appointing CMDs beyond the given deadline and will start sending them notices a few months in advance.Indian Oil to invest Rs 1.75 lakh cr for expansion: Chairman Sanjiv SinghIndian Oil Corporation, the country's leading firm on the Fortune 500 list, has drawn up an ambitious Rs 1.75 lakh crore investment plan to expand its production capacity. In the company's latest annual report, IOC chairman Sanjiv Singh said that the refining capacity will be enhanced to 150 million tonnes of petroleum products per annum by 2030 from the current 80.7 million tonnes.Wipro to move workforce to a new 50-acre campusIn the next two years Wipro wants to move its workforce from its electronic city unit and hired facilities in Bengaluru to a new 50-acre campus. Wipro calls it an \"agile workspace aimed at the digital worker\". The move to shift thousands of workers to the new campus prompted chairman Azim Premji to meet Karnataka chief minister HD Kumaraswamy last week to seek his help in upgrading the Sarjapur Road so that it reduces traffic congestion as reported by the Economic TimesNBCC has said Amrapali's Noida projects will need 4 yearsThe National Buildings Construction Company or NBCC has said that Amrapali's unfinished projects in Noida and Greater Noida will take up to 4 years for completion while the remaining ones will need a year.NBCC will have to submit details on revival of projects to the Supreme Court.Jobs for freshers! Tech Mahindra hints at hiring 4,000 graduates in next three quartersTech Mahindra indicated at hiring around 4,000 freshers over the next three quarters as the IT services major focuses more on \"demand-based\" hiring instead of creating an inventory. The company has already hired about 1,800 fresh graduates in the first quarter of the ongoing fiscal


PTI
August 5, 2018
Prime Minister Narendra Modi on August 21 will launch long-awaited India Post Payments Bank (IPPB) that will have at least one branch in every district and focus on financial services in rural areas, a senior official said.


BusinessToday.In
New Delhi, August 3, 2018
Apple becomes first publicly listed US firm to hit $1 trillion stock market valuationApple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone. The iphone transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. India likely to postpone raising tariffs on U.S. goodsIndia plans to delay the imposition of retaliatory duties on U.S. goods, the trade ministry said on Thursday, to allow time to resolve disputes that worsened after President Donald Trump imposed tariff hikes on steel and aluminium. Trade differences between India and the United States have been rising since Trump took office Infosys CEO Salil Parekh bets on company's robust balance sheet to plan big acquisitionsInfosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline - the company reportedly sees acquisitions as a key element in the three-year roadmap laid out by CEO Salil Parekh.ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisationState-run Oil and Natural Gas Corporation, ONGC has posted a 58 per cent increase in net profit during the first quarter of the financial year 2018-19 to Rs 61.44 billion, compared to Rs 38.85 billion on the back of higher net realisation owing to rise in prices. The company's gross revenue for the period under review was seen 43 per cent up at Rs 272.13 billion.Reliance Jio, SBI Announce Digital Partnership For Banking, Payments And Commerce ServicesAfter the Jio Payments Bank became operational (a 70:30 JV between RIL and SBI) Jio and SBI are deepening their partnership for customers. They are trying to provide a seamless experience with exclusive digital Banking, Payments and Commerce journeys to their customers. Jio and SBI are entering into a digital partnership aimed to increase SBI's digital customer base. For the same, the companies have announced SBI YONO. SBI YONO is an omnichannel platform offering digital banking, commerce and financial superstore services to customers. YONO's digital banking features and solutions will be enabled through the MyJio platform HDFC hikes interest rates on home loans by 20 basis pointsHDFC has hiked interest rates on home loans by 20 basis points, a day after RBI raised the benchmark repo rate by 25 bps to 6.5%. As per the new rates, women borrowers can avail a home loan of upto Rs 30 lakh at 8.7% while other customers will be charged a rate of 8.75%. New rates are effective from 1st August. For loans above Rs 30 lakhs women borrowers will be charged at 8.80% while other borrowers will be charged a rate of 8.85%.


BusinessToday.In
August 2, 2018
After working together on Jio Payments Bank, Reliance Jio and the State Bank of India have decided to widen the scope of their partnership to online banking services and loyalty programmes.


BusinessToday.In
New Delhi, August 1, 2018
Prime Minister will launch the India Post Payments Bank. The date of launch would be decided in a day or two, says Communication Minister Manoj Sinha.


BusinessToday.In
August 1, 2018
Paytm Payments Bank has reportedly stopped adding new users on its platform following observations made by the RBI.


Mudit Kapoor
New Delhi, July 30, 2018
This initiative aims to facilitate those who can't stand in long ATM queues or are not in a position to perform bank-related tasks themselves. Cases related to elderly becoming victims of theft, snatching, robbery, etc, while they do bank-related work, are on the rise.


BusinessToday.In
July 23, 2018
The Department of Financial Services (DFS) had asked the state-owned banks to examine their collective 216 overseas operations to enhance cost-efficiencies.


E Kumar Sharma
New Delhi, July 23, 2018
The first quarter of this fiscal ended on a cheery note for the domestic IT industry's Banking, Financial Services, and Insurance (BFSI) vertical.


E Kumar Sharma
New Delhi, July 21, 2018
Wipro beats expectations largely riding on its two key sectors of BFSI, which constitutes to about 30% of revenue and consumer business unit, thereby makingfor about 16% revenue, says Sudheer Guntupalli, analyst, Ambit Capital.


BusinessToday.In
July 20, 2018
The Bengaluru-headquartered IT firm said that net profit for the three months to June 30 rose to Rs 2,120.8 crore.


E Kumar Sharma
New Delhi, July 17, 2018
For the moment, analysts and management experts point to some lessons that many of the IT sector players, could pick up from the results of these two important Indian IT companies.


PTI
July 14, 2018
The banks are among the first major companies to report results in what is expected to be a strong second-quarter earnings season thanks to US tax cuts and a humming American economy.


BusinessToday.In
New Delhi, July 13, 2018
The Instant Money Transfer service by State Bank of India allows the bank's customers to make wire transfers by providing just the basic details of the beneficiary.


PTI
July 12, 2018
The development comes nearly seven months after Airtel along with Airtel Payments Bank came under fire for allegedly opening payments bank accounts of its mobile subscribers without their consent, and LPG subsidy worth crores was deposited into these accounts.


BusinessToday.In
New Delhi, July 10, 2018
IT major TCS reported the total revenue of Rs 34,261 crore, which is 6.8 per cent up sequentially and 15.8 per cent compared the corresponding quarter last year. The company's operating margin stood at 25 per cent.


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