While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
Unlike some of India's largest online retailers like Flipkart, Amazon, Myntra and Jabong, which are very secretive about their data and use it to cut better deals with brands than their competitors, the Nykaa monetising its insights. If it is is able to do so without giving away any of its advantages to competitors, it could be on to a winning model.
The growth has slowed down with exports at $6.7 billion last year.
Indian 'Vedas' have since thousands of years considered sun as at soul of the universe and a nourisher of life, the PM said.
'The first time we actually got to meet a Bollywood star, it was Salman Khan.' 'We met him at his farm house.' 'For Pia, an actor is just an actor. There is no such thing as a star in her world, and that may or may not go down well with some people.'
Puli makes for a truly bad trip, warns Raja Sen.
Import growth moderated to a four-month low, owing to sharp decline in that of gold.
India plans to launch trading of government bond futures within the next two months as part of efforts to deepen its financial markets, according to several sources involved in the discussions with the central bank.
This week's collection of stories that prove we live in a truly mad, mad world.
'It is time to allow the rupee to move towards its true value, as it is hurting Indian exports, investment and SMEs associated with export sectors that create jobs,' argues Pravakar Sahoo.
On his first visit to India, former three-time NBA champion Brian Shaw talks of potential that Indian youngsters possess to make the cut in the NBA and shares his views on the sensational Stephen Curry and his partnership with Shaqueille O'Neal.Norma Godinho/Rediff.com listens in.
India's list of non-cricket sports stars is growing, but when it comes to endorsement deals, the bulk of the money is spent on a handful of cricketers.
"We, Indians have forgotten what is good for us. Foreigners say oats are good so we say the same, arrey, we have oats since ages!" Meet Preeti Virkar, a believer of a different kind.
The technology offers better picture quality than LCD, with crisper picture resolution, faster response times and high-contrast images.
'The big elephant in the room is our misguided view about the rupee.' 'India is scared that if our currency appreciates, who will buy from us. But a breakout is inevitable.'
The camaraderie between Modi and Obama has taken the India-US relationship to unprecedented and transformative levels.
'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
'GST had to come close on the heels of demonetisation as part of the same package.'
U.S. economic growth braked more sharply than expected in the first quarter.
Exodus: Gods And Kings doesn't exactly have the greatest screenplay of all time but what it lacks in the writing department, it makes up for with stunning visuals, says Paloma Sharma.
'I am angry because this ever happened.' 'I am sad because it's painful to think what they must be going through.' 'I am glad we've fought hard to break through such cruel tradition.' 'But it burns my blood to think we're still holding on to regressive culture that is stemmed from preserving this so-called honour,' says Sukanya Verma.
If it was true that Maharashtra Chief Minister Devendra Fadnavis held up the flight to Newark to ensure that Praveen Singh Pardeshi, the state principal secretary, was on board, he had at least one excuse...
Almost three hours go like a breeze in the company of Bahubali's eclectic protagonists, where every single one makes an 'entry' designed for wolf-whistle.
'We are making a transition from governance to campaign mode.' 'The speed of execution is picking up,' says Union Minister Jayant Sinha.
'Muslims are depressed and disillusioned.' 'The safety valve is that we still have a multicultural mosaic in West Bengal, Tamil Nadu, Karnataka and Kerala.'
Anushka Saboo explores the possibilities of whether the grass is really greener on the other side.
Net capital gains from the sector over a full cycle may be more than the gains logged by cyclical sectors.
'Modi and Obama are transformational leaders. There can't be a better occasion than to see them together, making their own 'firsts' in a festival of the Republic of India,' says Tarun Vijay, MP.
In the second and final part of this interview, energy and coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that we need to take a comprehensive view of the entire energy sector and how piecemeal reform won't take us very far.
The year is not yet over and a few more duty hikes are not ruled out.
The market could consistently undervalue a certain kind of business.
Follow these 10 Chennai foodies to track down the great restaurants and awesome food there!
'Buddy knows more about Raju's films because he sits in the editing room.' 'He has seen Sanju a number of times already!'
'Earnings revival could be two quarters away.'
The numbers in India may not be as big but the opportunity for serious growth is all there.
Describing north-east as the "gateway" to south-east asia, Prime Minister Narendra Modi on Friday said his government has been pro-actively pursuing the 'Act-East Policy'
India'sstartups have a good beginning but will they survive competition is a big questions which needs immediate attention.
The narrow lanes of Majnu ka Tilla in north Delhi hide many Tibetan marvels, from authentic food to vignettes of their lives
Weather forecasts have notoriously large error margins.
The implications of the interim deal between Iran and the world's big powers go far beyond the nuclear programme, says Nitin Pai
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