Hong Kong regulator increases supervision on Allahabad Bank branch

Allahabad Bank on Tuesday said the Hong Kong Monetary Authority) has enhanced supervisory arrangements on its Hong Kong branch. Read more »

DoT asks telcos to offer Aadhaar number, virtual ids for new SIMs from July 1

DoT had extended the deadline for re-verifying mobile numbers through Aadhaar in March, until the Supreme Court decides on the validity of Aadhaar and its enabling law. Read more »

India to have 780 m VoLTE subscribers by 2023

According to the report, the first commercial rollout of 5G are expected by the end of this year- 2018. Read more »

Adjustment of Religare Finvest’s over Rs 790 crore deposits legal: Lakshmi Vilas Bank

The bank, in its financial statement for 2017-18 had informed about adjustment of third party deposits of over Rs 790 crore. Read more »

Indian oil imports from Iran surge to highest since 2016

India's oil imports from Iran in May rose by 10.2 percent from the previous month and were about 45 percent more than a year ago, the data showed. Read more »

Bank staff threaten to intensify stir in July, August

The United Forum of Bank Unions today threatened to intensify their stir in July and August against the 'meagre' two per cent salary hike, officials said. Read more »

No specific communication received from US SEC: ICICI Bank

According to sources, the SEC has received complaints from institutional investors in the US to look into the matter related to corporate governance and disclosure issues. Read more »

India’s first lithium ion cell factory to come up in Andhra Pradesh

In the first phase, Rs 165 crore will be invested to produce li ion cells having total storage capacity of 200,000 Ah (Ampere hour) per day. Read more »

Airtel’s Kenyan unit abandons plan to merge with Telkom: Sources

The proposed merger broke down over a number of issues, particularly Airtel resisting making a commitment to significant future investments in the company. Read more »

Coming years challenging for banks, need to look beyond NPAs: SBI

The largest lender of the country suffered a net loss of Rs 6,547.45 crore in 2017-18, as against a net profit of Rs 10,484.1 crore in the preceding fiscal. Read more »