The new rates, effective Wednesday, is the third reduction by SBI in this financial year having cut the rates by 5 bps each in April and May, while its home loan rates has come down by 20 bps during this period.
The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
Though the mandate is seen largely an outcome of Banerjee's welfare schemes, she has promised to industrialise at a faster pace, or so read the manifesto.
The company had posted a net profit of Rs 2,166 crore (Rs 21.66 billion) during the April-June quarter a year ago.
Soaring fuel prices give birth to a jugaad system in Bihar's border towns abutting Nepal with residents smuggling in India-supplied cheaper petrol and diesel from the mountain kingdom.
Mapping all its 13 lakh employees and identifying potential quarantine facilities for each of them is part of the protocol drafted by Central Railway to insulate its staffers from Covid-19. The document, 'Rail Pariwar Dekh Rekh Muhim' (drive to take care of the railway family)' lists a series of steps to be followed by zonal railways to keep employees safe.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
Chief Economic Adviser K V Subramanian on Friday said there is an "upside potential" in the estimates about the economy during the current financial year amid a faster-than-expected recovery. He said the final print could be better than GDP estimates given by various institutions, including the Reserve Bank of India, which projected contraction of 9.5 per cent during 2020-21. During the second quarter, India's economy recovered faster than expected as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on consumer demand bouncing back.
'The BJP's modus operandi is not just to be intolerant of dissent, it is to create mistrust and doubt between communities and the electoral process itself.'
The BCCI letter did not make a specific reference to Pakistan, which has been accused of harbouring terrorists by India.
Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
'The present government swears by Hinduism. But we lost three of our sants during earlier BJP regimes.'
Bharti Airtel said net sales rose 7.9 per cent
Total revenue came in at Rs 20,422 crore for the September quarter, which was 6.2 per cent lower than Rs 21,777 crore notched in the year-ago period.
Tea estates across Assam and West Bengal, which were hitherto closed owing to the lockdown, opened in April.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
Thousands and thousands of protesters, many of them students who skipped school, have gathered in cities across the world kicking off a day of worldwide protests calling for action against climate change ahead of a United Nations summit. From the Pacific Islands to Australia and India, protesters took to the streets on Friday, demanding their governments take urgent steps to tackle the climate crisis and prevent an environmental catastrophe. Greta Thunberg, the 16-year-old Swede who inspired the climate strike, tweeted her support. Check out photos from all over the world.
Allegations are flying thick and fast, from harassment, pressure on employees to sell their stocks in the firm, to not one but two extortion calls.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
Centre plans to acquire land and then give it on lease to miners.
The World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for the Maldives and $128.6 million for Sri Lanka.
There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission
Despite the failure of most e-commerce players to meet orders through the first week of the lockdown, there has been no serious crisis, thanks to supplies from 11 million small kirana and mom-and-pop stores across the country with the support of over 300,000 distributors and wholesalers.
'The immune protection may well wane somewhat, and that's what we have to monitor.' 'Should it wane to the point where vaccinated individuals are getting severe disease, then we really will need to give them booster shots and that'll apply regardless of what vaccine they've got the first time.'
The RLD has aligned with the Samajwadi Party and Bahujan Samaj Party in UP and is attacking the state government on farm distress and the outstanding sugarcane dues.
All eyes were as India as it celebrated its 69h Republic Day on Friday with the 10 ASEAN leaders as chief guests. The mood was upbeat across the country. Rediff.com brings you glimpses of the celebrations.
Though the Bills of Punjab and Rajasthan have a lot of similarities, the one approved by the Chhattisgarh Assembly is structurally different. None of the three has tried to address a key demand of the agitating farmers in full, which is to make all payments below the MSP, within and outside mandis, illegal.
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A tough initial lockdown was imposed beginning March 25 but dreams of a V-shaped recovery after it was eased in May have been obliterated by a surge in cases and new lockdowns.
Police personnel in adequate strength were deployed across the state to maintain law and order, officials said.
The world organisation said UN humanitarians and partners were working hard to assist the people of Bangladesh and India suffering from the impact of the cyclone, which made landfall on Wednesday, wreaking havoc, causing high tidal surges, flooding and embankments to collapse.
Rediff.com brings you some of the highlights from the sporting events held last week...
Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from May 10, 2019: SBI
Sahil, 26, a resident of north Gonda area, says his father, Parvez Alam, 50, ran a garage and was trying to pacify people from both communities to not engage in violence.
Asian Games gold medallist Swapna Barman will receive seven pairs of customised shoes, one each for the different events of Heptathlon, sports giants Adidas announced on Monday.
SBI chief Rajnish Kumar said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.
Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the Rs 25,000-crore rights issue.
