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31 Aug

Bank credit growth upgrade to 15.1% by July, deposits lag: RBI

Priyanka RoyBusiness, latest

According to the RBI, growth in credit card outstanding slowed to 22 percent to Rs 2.75 lakh crore from 32.4 percent a year ago.Non-food bank credit is projected to grow 15.1 percent by July 2024 to Rs 162.92 lakh crore by July 2024, compared to 14.7 percent a year ago, according to the latest RBI data.However, RBI data showed that banks' deposit growth slowed by 11.3 percent to Rs 213.28 lakh crore. With deposit growth slowing, banks are racing to raise funds through special deposit schemes and other innovative schemes to meet the credit demand in the system. Many banks…

31 Aug

Assam Rifles and CID’s joint operation nabs drug traffickers

Sonakshi Sarkarlatest

A joint operation by the Assam Rifles and the Special Narcotics Police Station, CID (Crime), Aizawl, led to the seizure of 1,00,000 Methamphetamine tablets in Aizawl. The operation, conducted in the Bawngkawn Shalom Veng locality, recovered tablets weighing 9.726 kg with a market value of ₹33.33 lakh. The seized methamphetamine and four individuals apprehended in connection with the case have been handed over to the Special Narcotics Police Station, CID (Crime), Mizoram, for further legal action. This successful operation underscores the ongoing challenge of drug smuggling in Mizoram and the broader region. The Assam Rifles, known as the 'Sentinels of…

30 Aug

African swine fever detects in Nagaland’s Kohima district

Banasree SarkarlatestAfrican Swine Fever

In a major development, African swine fever (ASF) was detected in Thizama Village under Chiephobozou block in Nagaland's Kohima district. After the sickness was discovered, Kohima deputy commissioner Kumar Ramnikant declared an infected zone bounded by a distance of one kilometer from the affected area. Furthermore, a surveillance zone including a 9 km radius outside the affected zone and a 10 km radius from the infected businesses has been established. Additionally, the DC banned the import, export, and slaughter of pigs and piglets. In order to contain the epidemic as soon as possible, he pleaded with the public to abide…

29 Aug

Bikaji said it is ‘not for sale’ amid investor interest in Indian snacks market

Priyanka RoyBusiness, latest

Indian snacks maker Bikaji Foods is "not for sale" and is instead aiming to capitalize on the growing appetite for gourmet brands in the world's most populous country, a top executive told Reuters.The Indian salty snacks sector has grown rapidly in recent years as consumers increasingly splurge on packaged foods.“Bikaji is not for sale. No matter what price anyone offers, there are few things that are not for sale,” Chief Operating Officer Manoj Verma had said that earlier this month, without disclosing whether the company had received buyout offers.His comments came after India's Tata Group and a consortium including Blackstone…

28 Aug

Zee Entertainment shares arised 14% today; here’s why

Priyanka RoyBusiness, latest

ZEEL Share Price: The stock traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving average (SMA), but lower than the 150-day and 200-day SMA.Shares of Zee Entertainment Enterprises Ltd (ZEEL) rose 14.26 per cent to hit the day's high of Rs 154.65 in Tuesday's trade. Today's sharp rise in share price came after the media firm settled its merger closing disputes with Sony Pictures."ZEEL, Culver Max Entertainment Pvt. Ltd., steering as Sony Pictures Networks India, together with its group company Bangla Entertainment Pvt. Ltd. have reached a comprehensive non-cash agreement, relating to “All disputes have been…

28 Aug

Tragic truck fall in Arunachal Pradesh kills three army men

Sonakshi Sarkarlatest

Three Indian Army personnel lost their lives when their truck veered off the road and fell into a gorge near Tapi in Upper Subansiri, Arunachal Pradesh. The incident occurred on the Trans-Arunachal Highway. The deceased have been identified as Havildar Nakhat Singh, Naik Mukesh Kumar, and Gadar Ashish. The exact cause of the accident is under investigation, and further details are awaited. This tragic event follows a similar incident in June, where five soldiers were killed in eastern Ladakh. They were swept away by flash floods while their tank was crossing a river in the Daulat Beg Oldie area, near…

27 Aug

Tripura’s Manik Saha donates salary for flood relief efforts

Sonakshi Sarkarlatest

Tripura Chief Minister Manik Saha has pledged one month's salary to the Chief Minister’s Relief Fund (CMRF) to aid victims of the recent floods in the state. This contribution is part of a broader effort to support ongoing relief initiatives for those impacted by the severe flooding that has affected various parts of Tripura. In a statement posted on the microblogging site X, CM Saha emphasized the importance of collective effort in times of crisis, urging others to contribute to the relief efforts. “I hereby contribute my one month’s salary to the Chief Minister’s Relief Fund for the purpose of…

27 Aug

Bank of Baroda surge Rs 5,000 crore through 10-year infra bonds at 7.3%

Priyanka RoyBusiness, latest

State-owned Bank of Baroda on Monday inflation Rs 5,000 crore through 10-year infrastructure bonds at a coupon rate of 7.3 percent, according to sources aware of the development.The offering of the bonds, rated AAA by Crisil Ratings, had a base issue size of Rs 2,000 crore and a greenshoe option of Rs 3,000 crore and was fully subscribed.A dealer at a state-owned bank said yields on 10-year government securities have fallen, resulting in lower cut-off rates for BoB compared to State Bank of India (SBI), the country's largest lender. Generally, SBI is considered like a barometer for the Indian economy…

26 Aug

Gold price relapse in India: Check 22 carat price in your city on August 25

Priyanka RoyBusiness, latest

Gold price in India today: On August 25, gold prices in India were around Rs 73,000 per 10 grams. The rate of 24 carat gold of highest purity was Rs 73,040 per 10 grams. For those considering jewellery, 22-carat gold, known for extra durability due to its light alloy mix, was priced at Rs 66,950 per 10 gram.In contrast, the price of silver was Rs 88,000 per kg. retail cost of gold in india The retail price of gold in India, which represents the final cost per unit weight to consumers, is shaped by many factors beyond its intrinsic value.

24 Aug

Yes Bank shares upgrade on credit rating upgrade, see details

Priyanka RoyBusiness, latest

Yes Bank Share Price Today: Yes Bank stock has increased by 45 percent in a year and declined by 6 percent in 2024.Shares of private sector lender Yes Bank Ltd were trading 1% higher today after credit rating firm Crisil Ratings upgraded the bank's long-term ratings on tier-II bonds (under Basel III) and infrastructure bonds. The ratings were upgraded to 'CRISIL A+/Stable' from 'CRISIL A/Positive'. CRISIL Ratings also affirmed its short-term rating 'CRISIL A1+' on the bank's certificates of deposits (CDs).Shares of Yes Bank rose 1.09% to Rs 24.84 on BSE from its previous close of Rs 24.58. Yes Bank…