Mumbai: Online consumer spending is expected to grow 2.5 times to around USD 100 billion by 2020 led by growth in e-commerce, travel and hotel, financial services and digital media, says a report.
Mumbai: Benchmark indices Sensex and Nifty gained up to 0.42 per cent on value buying by investors after recent losses on easing inflation worries and positive global cues. The 30-share barometer rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
New Delhi: A day after high-level fraudulent practice to the tune of $1.8 billion in one of the Punjab National Bank‘s Mumbai branch was reported to the stock exchange, Sunil Mehta, MD and CEO said it “will not spare anyone” involved in the wrongdoing.
The Punjab National Bank fraudulent case is making the news, offices and home of Nirav Modi have been sealed. As per the preliminary investigation by the Punjab National Bank it is suspected that the fraud was carried out by the perpetrators in collusion with the staff at one of the branches in Mumbai.
New Delhi: Inflation based on wholesale prices eased to a six-month low of 2.84 percent in January on cheaper food articles even as vegetable prices continued to rule high.
Mumbai: Two days before suspending 10 of its officials in connection with jewellery designer Nirav Modi fraud case, the Punjab National Bank (PNB) on Monday sent a caution notice to all the banks, informing about the modus operandi of the fraud.
After raid being conducted by ED at several offices of Nirav Modi in connection with a Rs 280 crore money laundering case following a complaint by Punjab National Bank, Nirav Modi has now said that he will repay the loans.
New Delhi: Shares of Punjab National Bank today extended its fall for the second straight session, falling as much as 9 per cent in morning trade after the lender said it has detected a USD 1.77 billion fraud. The stock opened at Rs 137, then hit a low of Rs 133.45, down 8.47 per cent over its previous closing price. On the NSE, the stock opened at Rs 137.60, then fell 8.57 per cent
New Delhi: Shares of Gitanjali Gems today plunged up to 19 per cent in morning trade after the company came under scanner of various investigating agencies following the Punjab National Bank’s declaration of nearly Rs 11,400-crore fraud.
Mumbai: The BSE benchmark Sensex surged over 167 points, staging a strong recovery in early trade today on firm cues from global markets. A stronger rupee against the dollar also influenced market sentiment.
The asset reconstruction business is still evolving. So there is space for all asset reconstruction companies (ARCs) to recognise their own expertise and enter the space they aspire to be in. One particular ARC is Edelweiss ARC. The company has focused entirely on turnaround of companies with potential, rather than traditional resolution through asset sale and haircuts. It has had quite a lot of success with this mind set, says
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