Reserve Bank union today requested Governor Urjit Patel to monitor banks through a combination of risk-based supervision, off-site surveillance and on-site inspections of operational systems.

In a letter written to the governor, the union suggested that the RBI should undertake random supervision of bank branches in all parts of the country periodically - possibly 10 per cent of bank branches comprising all regions on an annual basis.

The rupee plunged by 36 paise to hit a three-week low of 67.98 against the US dollar in early trade today following strong demand for the greenback amid sustained foreign capital outflows.

Besides, the dollar strengthening against other currencies overseas as the European Central Bank (ECB) pledged to leave interest rates unchanged until mid-2019, weighed on the rupee, traders said.

BSNL or the Bharat Sanchar Nigam Limited in its new scheme marking the end of Ramadan and the auspicious occasion of Eid-Ul-Fitr 2018, introduced Eid Mubarak STV 786 offer. The scheme is a prepaid pack that offers 2GB of 3G/4G data per day, unlimited voice calling and 100 SMS messages per day. The pack will be valid for 150 days from the day of recharge. Overall, the Rs 786 BSNL plan offers 300GB of data and 15,000 SMS benefits as well.

Mumbai, Jun 15 () The BSE Sensex recovered by over 66 points to 35,666.07 in opening trade today, aided by continuous buying by domestic investors amid mixed Asian cues.

The 30-share index advanced 66.25 points, or 0.18 per cent, to 35,666.07. It had lost 139.34 points in the previous session.

NEW DELHI: To give push to the Centre’s e-vehicle green project, Indian Space Research Organisation (Isro) has offered the industry its indigenously developed lithium ion cell technology at a cost of Rs 1 crore for its use in automobiles. The initiative is expected to promote the government’s zero emission policy.

Calcutta: The National Stock Exchange is optimistic that its initial public offer (IPO) will hit the capital market in the current financial year despite delays on account of the ongoing investigation into the co-location case.

"We will get the co-location issues resolved. My hope is we will be able to list in this fiscal," NSE's managing director and CEO Vikram Limaye said on the sidelines of an event of the Indian Chamber of Commerce on Thursday.

Every other day, there are reports that the government is tweaking the Air India sale terms in order to make it attractive for buyers.

However, in doing so, the government essentially appears to be treating the symptoms and not the disease. The main problem with the Air India sale is that nobody will be willing to buy it in its current form.

Punj Lloyd Ltd was referred to the National Company Law Tribunal (NCLT) on Thursday by ICICI Bank Ltd to recover dues worth 852 crore, sending the construction company’s stock tumbling by more than 11%.

A two-judge NCLT bench, headed by M.M. Kumar, issued a notice to Punj Lloyd, asking it to file a reply to ICICI Bank’s plea.

New Delhi: Shares of India’s biggest IT company Tata Consultancy Services Ltd (TCS) traded higher on Friday ahead of the company’s decision on share buyback proposal. TCS in a filing with the BSE on Tuesday had informed that its board will consider a proposal for buyback of equity shares at a meeting on Friday. Domestic brokerage Motilal Oswal Securities, which has a neutral rating on TCS shares, anticipates a buyback in the range of Rs20,000 crore.

Private sector lender Kotak Mahindra Bank (KMB) is on course to have a customer base of 16 million by September, from the current level of 13 million, which also includes the bank’s 811 customers, managing director and CEO Uday Kotak wrote to the bank’s shareholders in its 2017-18 annual report. “On March 29, 2017, while launching 811, we had made a commitment to double our customer base in 18 months, that is, to about 16 million by September 2018,” he said.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.