RBI extends RTGS timing till 1800 hrs
NEW DELHI: Timings for fund transfer through RTGS have been extended by one-and-a-half hours to 1800 hrs for the general public from June 1, the Reserve Bank of India said on Tuesday. Under Real Time Gross Settlement (RTGS) System, there is a continuous and real-time settlement of fund-transfers, individually on a transaction by transaction basis […]
PNB Q4 loss narrows to Rs 4,750 crore; NPA declines
NEW DELHI: State-owned Punjab National Bank (PNB) Tuesday reported narrowing of its loss by nearly 65 per cent to Rs 4,750 crore during the fourth quarter of fiscal ended March 2019 even after making adequate provisions towards the Nirav Modi fraud and non-performing assets (NPAs). The scam-hit lender had posted highest ever loss of Rs […]
HAL records all-time high turnover of Rs 19,705 crore
NEW DELHI: State-run aerospace major Hindustan Aeronautics Limited (HAL) has posted an all-time high turnover of Rs 19,705 crore, registering a growth of 7.8% in 2018-19, the company said in a statement Monday. HAL’s Profit After Tax (PAT) for the fiscal year 2018-19 stood at Rs 2,282 crore, an increase of 14.8% over Rs 1,987 […]
Commercial flights likely to operate from Hindon airport by June end: AAI
NEW DELHI: Commercial flights are likely to start operations from the Hindon airport near Delhi by the end of June as the Ministry of Defence has given all requisite approvals, said a senior official of the Airports Authority of India (AAI). Hindon airport, which is around 40 kms from the Indira Gandhi International Airport in […]
SpiceJet posts 22% rise in Q4 net profit on higher ticket revenue
NEW DELHI: Budget carrier SpiceJet on Tuesday reported a 22 per cent increase in net profit to Rs 56.3 crore in three months to March aided by higher ticket prices. The Gurugram-based airline had posted a profit of Rs 46.2 crore in the last quarter of 2017-18. Revenue from operations rose by 25 per cent […]
Omaxe Q4 net profit falls 10%; plans to raise Rs 500 crore via debentures
NEW DELHI: Realty firm Omaxe has reported 10 per cent decline in its consolidated net profit at Rs 20.27 crore for the fourth quarter of the last fiscal year and announced plans to raise Rs 500 crore through private placement of debentures or other debt instruments. Its net profit stood at Rs 22.54 crore in […]
DLF cuts net debt by 38 per cent in Q4 to Rs 4,483 crore
NEW DELHI: Realty major DLF reduced its net debt by 38 per cent during the fourth quarter of last fiscal to Rs 4,483 crore with the help of funds raised from selling shares to institutional investors. According to an investors presentation, DLF’s net debt has come down “from Rs 7,224 crore in Q3 of FY19 […]
IndiGo Q4 profit jumps 5-fold to Rs 589.6 crore
NEW DELHI: InterGlobe Aviation, the parent company of IndiGo airline, on May 27 reported a five-fold jump in profit after tax to Rs 589.6 crore for the January-March quarter compared to Rs 117.6 crore in the corresponding period of 2017-18. The carrier’s total income rose by 35.5% to Rs 8,259.8 crore in the quarter ended […]
SpiceJet adds 100th aircraft to its fleet
NEW DELHI: Budget airline SpiceJet on Sunday said it has added a new Boeing 737 aircraft to its fleet, taking its total strength to 100 aircraft. SpiceJet is the fourth domestic airline to have 100 aircraft in its fleet, after Air India, IndiGo, and the now grounded Jet Airways. Its fleet now comprises of 68 […]
Switzerland steps up sharing banking information; 11 Indians get notices in a day
NEW DELHI/BERNE: Switzerland has since March sent at least 25 notices to Indian clients of its banks, giving them a chance to appeal before it gives information about them to the Indian government. An analysis of the notices issued by the Federal Tax Administration, Switzerland government’s nodal department for sharing of information on foreign clients […]
Maldives decides not to press GMR for taxes over airport compensation
NEW DELHI: In a breather to the GMR Group, the Maldivian government has decided not to press for income tax and fines of over $20 million from the infra major on the compensation it received from the island nation for the premature termination of Male International Airport contract. In a statement issued on May 23, […]
Naresh Goyal, wife stopped from going abroad at Mumbai airport: Sources
MUMBAI: Former chairman of Jet Airways Naresh Goyal and his wife Anita Goyal were denied permission to travel abroad on Saturday by the immigration authority at Mumbai airport, sources said. The couple was to travel by Dubai-bound Emirates flight EK 507 when the immigration authority denied them permission to fly, they said. The checked in […]
Public sector banks recover Rs 1.2 lakh crore from bad loans in 2018-19
NEW DELHI: Public sector banks (PSBs) have recovered close to Rs 1.2 lakh crore from stressed assets during the financial ended March, primarily helped by resolution under the Insolvency and Bankruptcy Code (IBC), an official said. During the first half of the previous fiscal, banks recovered Rs 60,713 crore from bad loans. “Due to non-resolution […]
India stopped purchasing Iranian oil after US waivers expired
By Lalit K Jha WASHINGTON: India has stopped importing oil from Iran after American waivers granted to eight buyers expired early this month, New Delhi’s envoy here has said, becoming the latest country to comply with the US sanctions on Tehran over its nuclear programme. The US reimposed sanctions on Iran in November after pulling […]
Enforcement Directorate moves Delhi High Court for cancellation of bail to Robert Vadra
NEW DELHI: The Enforcement Directorate (ED) on Friday moved the Delhi High Court seeking cancellation of anticipatory bail granted to Robert Vadra in a money laundering case. Vadra, brother-in-law of Congress President Rahul Gandhi, was granted anticipatory bail by a trial court here on April 1. The plea filed through advocate, ED Prosecutor D P […]
ILFS crisis:Enforcement Directorate conducts fresh raids in Mumbai
NEW DELHI: The Enforcement Directorate on Wednesday carried out fresh searches in Mumbai in connection with its money laundering probe in the multi-crore IL&FS payment default crisis, officials said. They said the residences and offices of at least four directors of the firm are being raided. The central agency had first carried out searches in […]