In the aftermath of the PNB $2 billion fiasco, the RBI has barred the issue of letters of undertaking (LOU) for trade credit purposes. It may be recollected that LOUs were at the centre of the PNB scam wherein the bank had been defrauded to the tune of Read more [...]

The Nifty on Monday showed a sharp bounce and closed above the 10,400 level. Whether this is a decisive break above the 10,300 levels will be known in the next few days but it was a mix of short covering and selective buying. The combination of Read more [...]

The Indian economy got a double boost on Monday after the IIP growth for January came in higher at 7.5% while the inflation came in lower at 4.4% for the month of February 2018. The higher IIP number was largely driven by manufacturing which constitutes Read more [...]

The Nifty closed last week on a crucial level just above the 10,200 mark. The range of 10,200 to 10,300 will be critical and it needs to hold above that level for the up move to sustain. Otherwise, testing of levels below 10,000 on Nifty will open Read more [...]

Even as Emmanuel Macron committed $700 million for solar energy, he admitted that the world would require nearly $1 trillion worth of investments to achieve 1 terawatt (TW) of solar capacity by the year 2020. Macron also took a dig at the US for trying Read more [...]

The Serious Frauds Investigation Office (SFIO) has summoned Chanda Kochhar of ICICI Bank and Shikha Sharma of Axis Bank in connection with the PNB scam involving Nirav Modi and Mehul Choksi, both of whom are currently absconding. While Axis Bank had actually Read more [...]