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rediff Business



India's largest news and entertainment service online.



Published: Tue, 20 Feb 2018 12:06:02 GMT

Copyright: Copyright: (C) 2011 Rediff.com India Limited. All Rights Reserved.
 



Sensex succumbs to late sell-off; ends in red for 3rd session
Sustained foreign funds outflows and the rupee depreciating 68 paise to hit a three-month low of 64.88 (intra-day) against the dollar affected investor sentiment



Lapses in banking system: Govt seeks RBI's views
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator



N Chandrasekaran: Tata Son's lucky mascot
After years of losing money on two of the group's biggest bets - global steel business and domestic passenger cars - there are strong signs of a revival in both businesses.



How govt plans to ensure PNB-style scams don't ever happen
Govt tells PSBs to integrate banking systems, rotate staff as a policy



How Choksi mentored his nephew Nirav Modi
Building a global brand was Choksi's idea, which Modi borrowed from him.



'Budget 2018 certainly obliged the masses'
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.



PNB sitting on CVC plea for nod to prosecute 9 staffers
The CVC is awaiting sanction to prosecute nine employees of PNB and 2 other banks who were booked by the CBI for their alleged involvement in corruption.



PNB fraud: How bank auditors failed to detect the scam
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions



Nirav Modi's Taiwan, Surat, Hong Kong and Dubai connections
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.



Taj takes another U-turn on branding
The multi-brand strategy could drive profitability to a 25% profit margin in the next five years from 17% now.



SC to hear plea seeking deportation of Nirav Modi on Feb 23
The plea also sought a directive for the constitution of a committee of experts who would find the details of bad debt cases in the country.



PNB on 'negative watch' with Fitch, on downgrade review with Moody's
"Fitch Ratings has placed Punjab National Bank's (PNB) Viability Rating of 'bb' on Rating Watch Negative (RWN), following the large fraud reported by PNB," the US-based agency said in a statement.



CBI arrests 3 more officials of PNB in Rs 11,384 cr scam
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.



Banks face more headache from diamond industry
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.



Bitcoin investors, exercise caution
Limit your investment in cryptocurrencies and make sure you have current holdings in your own custody until regulatory cloud blows over, experts tell Sanjay Kumar Singh.