"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.
The government on Tuesday night announced that Rs 500 and Rs 1,000 will be no longer legal tender after November 8, midnight. Here are the details you need know
The Wadia group-owned airline is building a new management team and putting in place strategies for efficient operations. Leading the change is Cornelis Vrieswijk, the airline's new chief executive officer.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Do you have an international driver's license?
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.
Authorities also released photographs of six suspects, including three women, wanted for their involvement in the attacks and sought information regarding them from the public.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
'Clearly, the Modi government is proving to be far more willing than any previous government in Delhi to hitch India's wagons with the US' regional strategies.'
With no payments coming in, HAL for the first time ever taken a bank loan of Rs 7.81 billion.
Nirmala Sitharaman said Nirav Modi may have been able to run away from the country, but the government is taking action against him, and claimed that it will "surely nab him".
Government allows duty-free import of 500,000 tonnes raw sugar till June 12. At present, India levies an import duty of 40% on sugar
'Those who follow the workings of the establishment believe that Indian diplomacy has managed more by the individual flair and brilliance of a few individuals than its systemic strength or organisational excellence.'
The government, he said, has implemented 'bold reforms'.
Central bank raises red flag, warns of potential risk
Leaders from 70 countries, including United States President Barack Obama and Arab politicians, gathered in Jerusalem on Friday to bid farewell to one of the last leaders of Israel's founding generation and Nobel Peace Prize winner Shimon Peres as his funeral began amid unprecedented security.
India and Vietnam on Monday inked seven pacts, including one to enhance cooperation in the strategic oil sector, as they called for "freedom" of navigation in the South China Sea, a remark which could irk China, which has been claiming territorial sovereignty over the high seas.
The expectation that Mr Modi would be a major reformer, capable of reinvigorating the Indian economy, were based on a complete misreading of both his actions and his performance as Gujarat chief minister, says Mihir S Sharma.
'Flush with funds, lending became a cash management exercise.' 'Road projects, power generation plants, airports etc were financed left and right with apparently no regard for the projects' ability to repay,' explains S Muralidharan, former managing director, BNP Paribas.
'If standing in a bank or ATM line is a test of patriotism, why is not a single leader standing in that queue too?'
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
The government seemed unhappy with Raghuram Rajan's interest rate policy.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
The Reserve Bank of India on Monday moved on Monday to tighten gold imports again in an attempt to rein-in a record high current account deficit by taming demand for the yellow metal.
Senior officials say the government might come up with an incentive package for the SEZs following the release of Foreign Trade Policy.
'A law firm checked credentials of Karan Ajit Judge and Nouam'
'Expectations were being built up about radical moves and the action plan did not disappoint.'
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
An H4 visa is granted to the spouse/child of an H-1B worker.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
A glance back at some of the important ups and down Indian Inc faced in 2018.
You could step aside from the BJP membership, don the mantle of a full-time journalist again and then go ballistic against the government, Sudhir Bisht tells Arun Shourie in this open letter.
PM Modi on Friday pitched for a BJP govt in UP to promote politics of development but skipped any mention of the raging controversy surrounding Dalits.
What used to be confined to homes as a winter garment has become a political and cultural symbol, with most leaders and many citizens donning the long cloak at offices and their places of work, observes Athar Parvaiz.
'A fierce crusader against communalism, George joined hands with majoritarian forces, never to revisit or re-assess his saffron association.' 'He was a Union minister in 1998-2004, a time when people like Graham Staines were lynched in Orissa.' 'On the Gujarat pogrom of 2002, George went on to kind of justify the slashing of pregnant women, by saying in the Lok Sabha that this was nothing new for India.' 'Thus, he was in sharp contrast to what he had himself stood for in the heyday of his political career in the 1970s and 1980s, says Mohammad Sajjad.
