News about Indian banks taking hit of $3 bn is false: Finance Ministry

New Delhi, Feb 19 : The finance ministry on Monday clarified that news circulating that tax department has estimated Indian banks could take a hit of more than $3 billion pertaining to $1.8 billion Punjab National Bank (PNB) fraud, is false. “News appearing in certain section of media that Tax Department has estimated that Indian […]

India to be $1 tn digital economy in 5 years: Prasad

Hyderabad, Feb 19 : Union Electronics and Information Technology Minister Ravi Shankar Prasad on Monday said his ministry is working in mission mode to make India’s digital sector $1 trillion economy in next five years. This has potential to create 60 lakh to 75 lakh new jobs, he told reporters on the sidelines of World […]

PNB says it will honour all “bonafide commitments”

New Delhi, Feb 19 : The $1.8 billion fraud-hit Punjab National Bank (PNB) on Monday said it would honour all “bonafide commitments” under Letter of Undertakings (LoU) and Foreign Letters of Credit (FLC) as per the law. “PNB clarifies that we will honour all our bonafide commitments under LoUs and FLCs as per law of […]

Amarinder to meet Trudeau in Amritsar

Chandigarh, Feb 19 : Ending uncertainty over the issue, Punjab Chief Minister Amarinder Singh said on Monday that he was all set to meet Canadian Prime Minister Justin Trudeau during the latter’s visit to Amritsar on Wednesday. Amarinder Singh tweeted on Monday that he was looking forward to the “one-on-one” meeting with the Canadian Prime […]

Banking fraud subdues risk-taking appetite, equities close lower

Mumbai, Feb 19 : The recent turbulent developments in the country’s banking sector kept investors’ risk-taking appetite low, leading the key Indian equity indices to close in the negative territory for the fourth consecutive trade session on Monday. According to market observers, heavy selling pressure in capital goods, auto, metals and banking stocks, along with […]

TN government calls all party meeting to discuss Cauvery verdict

Chennai, Feb 19 : Conceding to DMK’s demand for an all party meet to discuss the Supreme Court verdict on sharing of Cauvery river water, the Tamil Nadu government has called for a meeting here on February 22. The Tamil Nadu governmentm in a statement issued here, said discussions are being held with legal experts […]