Free Press Journal
  • Sensex, Nifty turn choppy ahead of US Fed policy outcome

    Mumbai: The benchmark Sensex turned choppy after surging over 200 points in early trade Wednesday, ahead of US Federal Reserve’s policy outcome due later in the day amid mixed global cues.

  • State banks told to take steps to curb frauds, defaults

    New Delhi : Finance Minister Arun Jaitley on Tuesday asked public sector banks (PSBs) to take “effective action” in cases of fraud and wilful loan defaults, as he exuded confidence of achieving sustained economic growth rate of 8 per cent.

  • Call for RBI to cut CRR to improve liquidity

    New Delhi : The RBI should consider lowering Cash Reserve Ratio (CRR) in addition to buying government bonds to ensure adequate liquidity, an official said on Tuesday.

  • Flipkart buys Israeli firm

    New Delhi : E-commerce major Flipkart on Tuesday said it has acquired Israel-based Upstream Commerce for an undisclosed amount as the Walmart-backed firm aims to further strengthen its selection and pricing capabilities.

  • OYO raises $1 bn to fund overseas expansion

    New Delhi : Hospitality firm OYO on Tuesday announced raising $1 billion (Rs 7,280 crore) in a fresh round of funding led by Japan’s SoftBank group for further expansion in India, China and other countries. The company has already raised $800 million and has further commitment of $200 million, OYO said.

  • April-Aug fiscal deficit at 94.7% of full-year target

    New Delhi : India’s budgetary fiscal deficit for April-August at Rs 5.91 lakh crore accounted for 94.7 per cent of the full year’s target of Rs 6.24 lakh crore, official data showed on Tuesday.

  • Canara Bank drags GTL Infra to NCLT

    Mumbai : State-run Canara Bank has taken telecom infrastructure player GTL group to the National Company Law Tribunal (NCLT) after the company defaulted on its debt repayment worth around Rs 1,000 crore. While GTL has defaulted on Rs 459 crore loans from the bank, GTL Infrastructure failed to make timely payment of Rs 541 crore to the lender.

  • Stocks snap 5-day losing streak

    Mumbai : Market benchmark Sensex on Tuesday bounced back by 347 points to end its five-day losing streak helped by a recovery in banking, pharma and FMCG stocks. The 30-share index closed at 36,652.06, up by 347.04 points or 0.96 per cent in a volatile trade.

  • Bad debts on a decline, loan recovery picking up of PSU banks, says Arun Jaitley

    New Delhi: Finance Minister Arun Jaitley Tuesday said bad debts or NPAs in the banking system are on the decline as recoveries of unpaid loans have picked up. Speaking to reporters after the annual review meet with top PSU bankers, he said last several years had been challenging for public sector banks as a large amount of lending was held up in NPAs.

  • Flipkart acquires Israel’s Upstream Commerce

    New Delhi: E-commerce major Flipkart Tuesday said it has acquired Israel-based Upstream Commerce for an undisclosed amount as the Walmart-backed firm aims to further strengthen its selection and pricing capabilities. Flipkart, which is locked in an intense battle for market leadership in India against American rival Amazon, will get access to advanced data science-based intelligent solutions through the acquisition, it said in a statement.