BUSINESS
Outstanding loans to minority communities by state-owned banks up 118% since 2011: Finance Ministry
Enhanced priority sector lending to minority communities by public sector banks (PSBs) had been mandated by the government in 2007-08. The government at that time had directed PSBs to step up their priority sector lending to minorities from 9 per cent to 15 per cent over a period of three years, sources said.
Smuggling of US dollars to Afghanistan hurting Pakistan's economy
"Pakistan is currently dealing with problems on several fronts, the political crisis being the first and biggest one. The dollar crisis is also connected with it," Malik Bostan, the Chairman of the Exchange Companies Association of Pakistan (ECAP), said at a news conference, The News reported.
'In 2022 Gold had more ups and downs than a roller-coaster ride'
According to Damani, the Comex Gold has made a high of about $1,935 and a low of about $1,630, while silver on other hand made a high of about $25 and low of about $18. There are few factors which triggered volatility in the market like, move in Dollar Index & yields, aggressive monetary policy stance from major central banks, rising inflationary concern, geo-political tension, which led to this volatility.
CBI grills Dhoot, Kochhars together in loan fraud case
On August 26, 2009, then ICICI Bank Sanctioning Committee, headed by Chanda Kochhar, sanctioned a rupee term loan of Rs 300 crore to Videocon International Electronics Ltd (VIEL) in contravention of rules and policies of the bank in a criminal conspiracy with the co-accused persons dishonestly by abusing her official position as public servant.
Govt raised Rs 4,06,000 cr through dated securities in July-Sept: Debt management report
Repayments stood at Rs 92,371.15 crore, as per the reports. The weighted average yield of primary issuances hardened to 7.33 per cent in the second quarter of the current fiscal from 7.23 per cent in first quarter of 2022-23.
Kochhar couple challenges arrest by CBI in Bombay HC; get no interim relief
The Kochhars and Dhoot, who were arrested on Saturday and Monday respectively, are currently in CBI custody till December 28 (Wednesday).
Clean energy goals can be the perfect ground for cooperation in a fragmented world at WEF 2023
According to Louis Kuijs, Asia-Pacific Chief Economist at S&P Global Ratings, "Discretionary interference, erection of trade and investment barriers and attempts to decouple from certain economies will obviously contain growth of productivity and living standards. Also, fragmentation of the global economy will impede the green transition."
Credit offtake in elevated levels: CARE Ratings
According to CARE Ratings report, the growth is driven by a low base, non-banking finance companies (NBFC), retail credit, higher working capital demand driven by inflation and improvement in capacity utilisation ratio, and rising demand for fresh capex.
'Jet Airways crew, management members leave owing to lack of clarity over relaunch'
Top executives who have reportedly left include human resources and engineers departments heads, reports added, quoting sources.As per reports, Jet Airways vice president (inflight services) Mark Turner has been sent on leave without pay.
CBI to confront Venugopal Dhoot with Kochhars, says they're not cooperating in probe
Dhoot was arrested by the CBI from Mumbai on Monday whereas the Kochhars were already in its custody. The federal probe agency has now got the three days custody of the accused, and will confront them with each other to make a water-tight case. The CBI has alleged that Dhoot didn't dislose the full facts to them and hence, he needed to be confronted with Kochhars.
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