Mumbai: Banking data for the fortnight ended April 15, 2026 showed a sharp contraction in deposits and advances after a surge at the March 31 year-end, highlighting the scale of balance sheet adjustments and exposing the window dressing in the system. Bank deposits fell from Rs 267.8 lakh crore on March 31 to Rs 261.9…
Chennai: Indian Overseas Bank’s annual net profit crossed Rs 5,000 crore for the first time, with the public sector lender reporting FY26 profits at Rs 5,209 crore, up 56% from Rs 3,335 crore in FY25, driven by higher income and lower provisions and tax expenses. The bank’s operating profit also crossed Rs 10,000 crore for…
New Delhi: The Times Group-owned Times Music has announced the acquisition of Catrack Entertainment, its third strategic acquisition and a key step forward in its ongoing partnership with Primary Wave Music.“The deal brings a culturally significant Punjabi music catalogue into its fold, unlocking a legacy repertoire for renewed global discovery and commercial scale,” the company…
Mumbai: RBI has introduced a new ‘calamity chapter’ in its guidelines, creating a dedicated framework for disaster-related relief that separates such measures from general restructuring and tightens eligibility, accounting, and provisioning norms.Unlike in the past when relief measures were handled under broader restructuring frameworks, the new rules establish a distinct Chapter VI-A for natural calamities…
Mumbai: The rupee fell to a record closing low of 94.85 per dollar on Wednesday, declining by 31 paise from its previous close of 94.54, as rising oil prices, stalled geopolitical developments, and continued foreign outflows weighed on the currency.Pressure on the rupee came amid a broader weakening across Asian currencies, with the Philippine peso…
Mumbai: The RBI has dealt a blow to Tata Sons’ bid to avoid going public, rejecting an argument that would have allowed the Tata conglomerate’s holdco to surrender its financial licence and evade a mandatory stock exchange listing. In directions published on Wednesday, RBI clarified that equity received from group companies with access to capital…
Crude prices surged to their highest levels since 2022 on Wednesday while investors awaited the Federal Reserve’s policy decision later in the day.Brent crude for June delivery jumped 7.3 per cent to $119.34 a barrel by 1:15 pm Eastern time and touched an intraday high of $119.76. Brent for July delivery, where more active trading…
Driven by higher consumption of petroleum products, India’s crude imports in the 2025-26 fiscal increased by nearly 1% but witnessed a 17% fall in purchases in the month of March due to disruption of trade routes amid the West Asia crisis.According to provisional oil and gas data released by the government, India purchased 245.3 million…
New Delhi: With no sight of the Strait of Hormuz (SoH) opening for commercial traffic in near future, shipping ministry has shared a list of around 40 India-bound “priority vessels” with the external affairs ministry, suggesting the option of evacuating them through territorial waters of Oman. Oman’s territorial waters is on the south of SoH…
Jerome Powell (AP file photo) US Fed Federal Open Market Committee (FOMC) meet: Jerome Powell-led US Federal Reserve on Wednesday kept the interest rates unchanged in the 3.5-3.75% range citing upside risks to inflation in view of the rising global energy prices.“Developments in the Middle East are contributing to a high level of uncertainty about…
