Business

Banks' profits down due to provisioning for bad loans: Jaitley (Roundup)

Fri, 09/16/2016 - 20:54

New Delhi, Sep 16 (IANS) Indian state-run banks have collectively made an operating profit of nearly Rs 35,000 crore this fiscal, but the massive provisioning for bad debts has pared their net profit down to Rs 222 crore, Finance Minister Arun Jaitley said on Friday, adding they had finally turned the corner and reported a cumulative net profit.

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Good buffer stock, farm prices needed for pulses: CEA's report

Fri, 09/16/2016 - 19:38

New Delhi, Sep 16 (IANS) To ensure adequate supply of pulses at fair prices, India must use a combination of comfortable buffer stock, remunerative farm prices and a pro-active import policy, a government report said on Friday.

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Apple fans make beeline for iPhone 7 in biggest-ever launch

Fri, 09/16/2016 - 19:30

Long Island (New York), Sep 16 (IANS) Apple enthusiasts are known to swarm company stores and form long queues in the hours before any big launch and the scene at retail stores across the US with the availability of stunning iPhone 7 and Apple Watch Series 2 was no different on Friday.

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Centre warns Kerala, Tamil Nadu on Food Security Act implementation

Fri, 09/16/2016 - 19:18

New Delhi, Sep 16 (IANS) The Centre on Friday warned of action if Kerala and Tamil Nadu failed to implement the National Food Security Act (NFSA) and said if there was no immediate improvement in the situation, foodgrains for distribution to above poverty line (APL) families in these states will be provided at a higher rate.

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Tamil Nadu keen on Enayam transhipment port project

Fri, 09/16/2016 - 18:38

Chennai, Sep 16 (IANS) The Tamil Nadu government is keen on implementing the Enayam Port project, state Chief Minister J. Jayalalithaa has conveyed to Union Minister of State for Road Transport, Highways & Shipping Pon Radhakrishnan.

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Four PSBs probing Jan Dhan account deposits: Jaitley

Fri, 09/16/2016 - 17:42

New Delhi, Sep 16 (IANS) Four state-run banks are probing whether the money in some financial inclusion scheme Jan Dhan accounts was deposited by the account holders themselves, or by business correspondents to keep the number of zero-balance accounts low, Finance Minister Arun Jaitley said on Friday.

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Gulf Aviation Academy enters the Indian market

Fri, 09/16/2016 - 17:26

Mumbai, Sep 16 (IANS) The Gulf Aviation Academy on Friday said it has entered the Indian market through an agreement with domestic aviation training institute SpeedJet Aviation.

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Rs 500 crore tourism development package for J&K

Fri, 09/16/2016 - 17:00

New Delhi, Sep 16 (IANS) Projects entailing an expenditure of around Rs 500 crore for the development of tourism in Jammu and Kashmir were approved on Friday under the Prime Minister Reconstruction Plan, an official communique said.

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Banks' profits down due to provisioning for bad loans: Jaitley

Fri, 09/16/2016 - 16:30

New Delhi, Sep 16 (IANS) Indian state-run banks have collectively made an operating profit of nearly Rs 35,000 crore this fiscal, but the massive provisioning for bad debts has pared their net profit down to Rs 222 crore, Finance Minister Arun Jaitley said on Friday.

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Equity markets surge on positive global cues

Fri, 09/16/2016 - 15:24

Mumbai, Sep 16 (IANS) Reduced chances of a US rate hike, coupled with foreign fund inflows and value buying, lifted the Indian equity markets during the mid-afternoon trade session on Friday.

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SBI hopes to achieve 12% SME credit growth

Fri, 09/16/2016 - 15:14

Kolkata, Sep 16 (IANS) Country's largest lender State Bank of India (SBI) hopes to achieve a 12 per cent credit growth for financing Small and Medium Enterprises (SMEs) in the current fiscal, a bank official said on Friday.

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