The country's largest lender State Bank of India has raised its marginal cost of funds based lending rate by 10 basis points or 0.1 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2 per cent with the two consecutive increases. The revision follows an off-cycle rate increase by the Reserve Bank earlier this month. The central bank hiked the repo rate -- at which it lends short term money to banks -- by 0.40 per cent to 4.40 per cent.
India has decided to authorise the country's biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters' body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow's attack on Ukraine.
In the prevailing difficult circumstances, the Congress is the only party that can provide capable and decisive leadership to the country, Kharge asserted.
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
One risk of investing in a very low-cost ETF is if a fund house runs it at below cost, it could close it if it fails to attract institutional money
The BJP threw a counter punch, claiming that the Gandhi family tried to help Mallya's floundering Kingfisher Airlines in 2011-12.
Undoubtedly, the Modi government's biggest challenge is to generate jobs for the 1 million Indians joining the work force every month. So, has 'achche din' arrived for all those young Indians eager to find jobs?
Roshan Shah, a Canadian citizen and an Overseas Citizen of India, filed a Right to Information application in Gujarat in 2013 to demand that Narendra Modi, then the Gujarat chief minister, make his educational qualifications public.
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