Friday , 19 October 2018
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Business

Decoding The Biggest Banking Fraud

Dr D M Deshpande The Punjab National Bank (PNB), the second largest public sector bank announced that it has been defrauded by a massive $1.8 billion (Rs.11,400 crore). To put the size of the scam in perspective, it represents about one-third of its market capitalization! There are more astonishing details that are still emerging. One, the epicenter of the fraud ... Read More »

Bajaj Allianz Life launches ‘Goal Assure’

MUMBAI: Bajaj Allianz Life Insurance Company Ltd launched a Unit-Linked Insurance Plan (ULIP) Bajaj Allianz Life Goal Assure. This new age ULIP has been designed to provide investment benefits and life cover to the life maximizers, the new generation of investors in India. The new ULIP brings with it two unique benefits that are one-of-their-kinds for a ULIP in India. The Return of Mortality Charges (ROMC) feature of Bajaj Allianz Life ... Read More »

India best placed to leverage technology: PM

IANS   HYDERABAD Prime Minister Narendra Modi on Monday said that with one of the most tech-friendly populations, India was best placed to leverage the power of technology and leapfrog into the future. He said the country is the hot-spot of digital innovation across all sectors. It not only has a growing number of innovative entrepreneurs but also a growing ... Read More »

India-Canada trade has potential to grow: Canadian Minister

IANS   KOLKATA The bilateral trade between Canada and India which is currently at 10 billion Canadian dollars (US $7.97 billion) is set to grow in the coming years as there is a “lot of potential” for it, a Canadian Minister said here on Monday. According to Amarjeet Sohi, Canadian Minister of Infrastructure and Communities, the North American country offers ... Read More »

economic scan

Pretty Home expo in Margao PANAJI: Pretty Home expo is underway at SGPDA ground, opp INOX, Margao and will be open until February 25, from 10.30 am to 9 pm daily. The organiser of the expo Pooja Kankonkar said that Pretty Home has become a leading brand of exhibitions in Goa over the years. More than 120 stalls of consumer ... Read More »

FICCI joins chorus for privatising state-run banks

IANS NEW DELHI Noting that recapitalisation of state-run banks over the last decade has had little impact on improving their health, industry chamber FICCI on Monday called for their privatisation in the interest of creating “a dynamic banking sector” in the country. The Federation of Indian Chambers of Commerce and Industry’s (FICCI) demand follows another industry body ASSOCHAM’s call on ... Read More »

Private companies invited to manufacture Dhruv helicopters

IANS   BENGALURU In a bid to push the ‘Make in India’ initiative, Hindustan Aeronautics Limited (HAL) on Friday invited private sector companies to manufacture the civil version of the indigenous Advanced Light Helicopter (ALH) Dhruv. HAL, the public sector defence major which has designed, developed and manufactures the ALH, issued a notice inviting ‘expression of interest’ from private firms ... Read More »

Liquor to cost more in K’taka as excise duty hiked

IANS BENGALURU Indian-made liquor (IML) in Karnataka would cost more from April 1 with Chief Minister Siddaramaiah proposing an 8 per cent increase in additional excise duty in the budget for 2018-19 presented on Friday. “I propose to increase the additional excise duty by 8 per cent on IML in different categories for mobilising additional resources,” said Siddaramaiah, while presenting ... Read More »

UK to push EU for City of London’s favoured Brexit plan

REUTERS LONDON Britain’s government is ready to push for the kind of Brexit regulation plan that the City of London has long favoured but which has already run into opposition in Brussels, the Financial Times reported on Friday. Finance minister Philip Hammond could make a speech as soon as next week to back a mutual recognition system to regulate financial ... Read More »

Govt to procure 320 lakh tonnes of wheat

IANS   NEW DELHI The Union Food Ministry said on Thursday it has decided to procure an estimated 320 lakh tonnes of wheat and 55 lakh tonnes of rice harvested in the current Rabi season. According to the ministry, a conference of food secretaries of the states under the chairmanship of Food Secretary Ravi Kant was held on Thursday in ... Read More »