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SENSEX-TRUECOLUMN Business Featured National 

SENSEX JUMPS OVER 300 POINTS

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After the appointment of new RBI Governor, the equity bench mark BSE SENSEX jumps over 300 points in the early trade on Wednesday. NIFTY also rose by 98.50 points or 0.93%, to 10,647.65. The 30-share index was trading higher by 324.94 points, or 0.92%, at 35,474.95. All the sectoral indices, led by banking, auto, and consumer durables stocks were trading in the positive zone. Brokers said that the investor sentiment got a boost after the appointment of the new RBI Governor on hopes that it will now address the liquidity…

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Vijay Mallya | National News | Business News Business Featured 

Vijay Mallya offers to return 100% of the Loans and Public Money

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The politician and business tycoon Vijay Mallya who was charged in the case of liquor and money laundering. Mallya said on Wednesday that he will pay back the entire principal amount of Rs. 5,500 crore as he owned from various banks. And he also said that he will return 100% of public money.  Vijay Mallya who is being investigated for fraud and money laundering has been living in the United Kingdom for the past two years. Vijay Mallya who fled away in 2016 to U.K. is wanted in India over a default of…

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RUPEE-TRUECOLUMN Business Featured 

Rupee falls 9% to 70.55 against US dollar in early trade

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With the rising price of crude oils, rupee falls by 9 percent to 70.55 percent in early trade at the interbank foreign market on foreign funds outflow. Foreign dealers said that there is a fresh demand from the American currency from importers amid rising in crude oil prices weighed on the domestic unit. After the rise, the rupee opened lower at 70.50 per dollar and dropped further to quote at 70.55, 9 paise over its previous close. On Monday the local unit snapped the four days rising streak and dropped…

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sbi national news Business Featured National 

STATE BANK OF INDIA has increased interest rate on fixed deposit

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Unlike every other bank like HDFC Bank, ICICI Bank and Axis Bank were rising their fixed deposit rate. The Indian Public sector bank, State Bank of India also implemented yesterday, the revised rate on fixed deposits. The SBI’s FD rate has been only hiked for two types of tenure, while the other remaining interest rate will be the same. India’s largest lender State Bank Of India has lifted up the interest rate of fixed deposit by 5-10 basis point with the maturity period of one -two years. This decision has…

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list - truecolumn Business Featured 

Meet the richest Indian property tycoon, Mangal Prabhat Lodha top the list

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According to the latest report released by the GROHE Hurun India Real Estate, the founder of the Lodha Group, Mangal Prabhat Lodha is ranked as the richest builder in India with a net worth of Rs. 27,150 crore. The list released featured Jitendra Virwani, owner of the Embassy Property Developments at the second spot with the property worth Rs. 23,160 crore and he is in the second position in 2017. The third spot is grabbed by the DLF’s promoter Rajiv Singh with a wealth of Rs. 17,690 crore and he…

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RBI reserve - truecolumn Business Featured 

Where does Country’s biggest Bank funds comes from?

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The country’s biggest bank, Reserve Bank of India (RBI) is holding a big share of its profits as a reserve and its balance sheet includes around Rs. 36.2 lakh crore. The 26% of the reserve comes with foreign and Indian government securities especially currency notes having interest rate against the government borrowings. As per the estimates, RBI is holding 556 tons of gold with the forex assets thus making up 77% of its total assets. The major reserve of RBI reserve constitutes those from the Currency and Gold Revaluation Account…

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import duty- truecolumn Business 

Import duty on ACs, fridges, Washing Machines, jewellery, shoes and even tyres will be costlier now

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A list of almost 19 imported items will be costlier from now and this includes the essential commodities like Air conditioners, Jewellery, Washing machines, shoes or even radical car tires. The Revenue Department on Wednesday hiked the import duty of 19 items to curb the import of non-essential items. Last week, Prime Minister chaired a high-level meeting to deal with the unmanageable falling value of Indian currency and pressure on foreign exchange outgo as a result of which it was decided to cut all the non-essential import items and deal…

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patanjali-truecolumn Business National 

Ramdev’s Patanjali soon overtakes Amul, Mother Dairy; announces entry into Dairy products

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Already standing strong on the FMCG products list in the market and giving tough competition to famous brands like Amul and Mother Dairy, Baba Ramdev’s Patanjali is all set to enter into the diary product market by selling milk products soon. On Thursday, Patanjali announced that they will step their foot into the dairy products market by launching daily used milk products like milk, curd, paneer and chach. They have already tied up with the 56,000 retailers and vendors across the country. Patanjali’s dairy products will be available in Delhi-NCR,…

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raghuramrajan-truecolumn Business 

Former RBI Governor Raghuram Rajan upset with government’s move to curb bad loans

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Former RBI governor Raghuram Rajan is upset with the government’s move to curb the bad loans in Banks as he said that despite of sending a list of high profile fraud cases to the PMO, he is not aware of any progress on it. Raghuram Rajan said that the main reason behind the slow growth of mounting the bad loans were the overoptimistic bankers and government’s foot dragging in the case. In his report Rajan said that the RBI has set up a panel to report the cases of fraud…

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mehulchoksi-truecolumn Business 

Mehul Choksi released video message, says all allegations are false

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The Maternal Uncle of the fraudulent diamond Jeweller Nirav Modi, Mehul Choksi recently released a video message from Antigua in which he said that all the allegation imposed on him by the Enforcement Directorate (ED) department are false. One of the accused of USD 2 million PNB money laundering case, Mehul Choksi took the citizenship of Antigua and Barbuda last year with the oath of allegiance on January 15 this year. The video released by new agency ANI clearly showed Mehul Choksi talking about the suspension of his passport after…

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