NEW DELHI: Punjab National Bank (PNB), the country’s second-largest public sector lender + , has impounded passports of 150 wilful loan defaulters apart from lodging 37 FIRs against those who are not repaying loans as part of its recovery drive.

“The bank has already declared 1,084 wilful defaulters and published photos of 260 such defaulters in newspapers,” the bank said in a statement.

MUMBAI: Yes Bank has receveid RBI’s approval to open two representative offices in London and Singapore. This comes on the back of the bank opening a representative office in Abu Dhabi last year followed by an office the GIFT City.

“Opening of representative offices in key financial and trade hubs like London and Singapore, in addition to our existing office in Abu Dhabi, gives us an effective coverage for most key global geographies,” said Rana Kapoor, MD & CEO, Yes Bank.

Calcutta: Coal India could see another rejig at the top, eight months after the Centre appointed an interim head for the public sector miner.

Senior bureaucrat Suresh Kumar is likely to be the new acting chairman and managing director of Coal India.

Mumbai: Axis Bank on Friday said it had started the process of appointing a successor to managing director and CEO Shikha Sharma.

Earlier this month, Sharma had requested the board of the private sector lender that her tenure be curtailed.

Mumbai: Both the rupee and the bond markets felt the impact of the hawkish tone of the RBI in the minutes of its last monetary policy meeting as the rupee dropped below the 66-mark, while the yields (rates) on government securities spiked.

The domestic currency on Friday dipped below the key 66-level at the opening trades itself and settled at a 13-month low of 66.12 against the US currency.

NEW DELHI: Toyota and Suzuki’s tie-up for cross-badging of cars is set to result in a high-pitched battle between the two Japanese companies in the Indian market. Toyota, which will start selling Suzuki’s Brezza mini SUV and Baleno compact from next year as part of the ambitious deal, has said that it will aim to maintain the pricing on the cars even while giving them a new look on the exterior and the interior.

We have just learned that the median salary of employees at Amazon.com Inc. is $28,446, excluding its chief executive officer and founder, Jeff Bezos. That pitiful number raises an intriguing question: Is Amazon a high-paying tech company or a low-wage retailer?

“Both” is the obvious answer, but to this Amazon aficionado that answer is incomplete.

Sebi today slapped a fine of more than Rs 1 crore on wind turbine maker Suzlon Energy for violating insider trading norms.

A total fine of Rs 1.1 crore, including Rs 5 lakh on an official, has been imposed as the company failed to disclose price sensitive information as required under the listing regulations on "more than one occasion".

Tata Consultancy Services (TCS) has played a stellar role in helping the Tatas to become the first private business group to enter the Rs 10-trillion market capitalisation league. This has happened because of the double-digit rally in the TCS share price in the current year.

Shares of TCS, the most valuable Indian company, on Friday closed at a lifetime high of Rs 3,406. At the current price, TCS is valued at Rs 6.52 trillion, or $98.52 billion, a whisker away from the $100-billion mark.

The benchmark indices logged their fourth straight weekly gain but ended weak on Friday amid weakening of the rupee and a surge in government bond yields.

Release of the minutes of the Monetary Policy Committee meeting after market hours on Thursday indicated that the Reserve Bank of India (RBI) might shift to a hawkish monetary stance in June, which dented investors’ sentiment.

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