Punjab National Bank (File photo) NEW DELHI: State-run Punjab National bank, the second largest public sector lender, is targeting a mop up of $2.5 billion from Foreign Currency Non-Resident Bank deposits and has raked in $425 million so far.“We are getting major traction from the UK, Dubai and GIFT City. The demand is quite good,”…
Representative generative image (created by Denny) NEW DELHI: As govt explores further decriminalisation of the Companies Act, the corporate sector has proposed changes to the amendment bill moved by the Centre, including those related to auditors. In a series of representations to the select committee looking at the amendments, a senior industry executive said: “Greater…
MUMBAI: Top private bank chiefs are taking a cautious view of RBI’s FCNR(B) deposit window, with lenders saying tax rules, overseas liquidity conditions and regulatory constraints could limit inflows below initial estimates.HDFC Bank MD & CEO Sashidhar Jagdishan said potential inflows under the scheme may be lower than initially expected because tax rules make the…
NEW DELHI: Five of India’s 10 most-valued companies collectively added Rs 1.54 lakh crore to their market capitalisation last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer after strong quarterly earnings helped lift investor sentiment amid a positive run in domestic equities.The gains came as the benchmark BSE Sensex advanced 582.06 points…
Gold and silver are expected to remain under pressure this week as investors assess the impact of the escalating conflict in US-Iran, elevated crude oil prices and a series of key global economic data releases that could influence the outlook for interest rates.According to market experts, traders will closely track developments in the US-Iran conflict,…
British Prime Minister Andy Burnham (AP) India-UK partnership will remain on a strong footing under incoming British Prime Minister Andy Burnham, who was elected Labour Party leader in the same week that the Comprehensive Economic and Trade Agreement (CETA) between both the countries came into force, as per the strategic experts forecast.Burnham, 56, was elected…
India’s first undersea rail tunnel has moved a step closer to reality, with a giant Tunnel Boring Machine (TBM) beginning its journey beneath Thane Creek on Saturday for the Mumbai–Ahmedabad Bullet Train Project. The launch of the second machine marks the start of excavation on the 7-km undersea stretch, the first of its kind for…
India’s power sector is expected to stay charged through FY27 as surging electricity demand, record peak power consumption and continued capacity additions fuel growth, a report by 360 ONE Capital said.The brokerage said that electricity consumption is expected to remain resilient as industrial and commercial activity gathers pace, creating favourable conditions for power utilities. Companies…
MUMBAI: Punjab National Bank reported a standalone net profit of Rs 5,253 crore for the quarter ended June 30, 2026, up 213.6% from Rs 1,675 crore a year earlier, aided by a sharp decline in tax outgo despite lower non-interest income. The bank reported a consolidated net profit of Rs 5,921 crore, up 228.4% from…
The first step in capital gains taxation is to identify the asset sold and determine whether the resulting gains are taxable. (Image source: Magnific) Many individual taxpayers view filing an Income Tax Return (ITR) as a straightforward task—declaring salary income, updating investment details and paying any balance tax. However, capital gains can turn an otherwise…
MUMBAI: IDBI Bank reported a standalone net profit of Rs 2,007.36 crore for the quarter ended June 30, 2026, up 3.3% from Rs 1,943.17 crore a year earlier, supported by lower provisions despite weaker operating profit. On a consolidated basis, net profit rose 6.9% to Rs 2,127.14 crore from Rs 1,987.44 crore a year ago.Net…
Middle East has slipped into another round of conflict and the ripple effects are already reaching Pakistan’s fuel consumers. Pakistan will now revise petroleum prices every day instead of once a week, allowing the government to react to the volatile global oil prices driven by the ongoing tensions between US and Iran. The announcement came…
