Free Press Journal
  • Sensex drops over 200 points; Nifty below 11,100

    Mumbai: The BSE Sensex dropped over 200 points in early trade Monday on increased selling of realty, consumer durables, auto and banking stocks, amid weak Asian cues and surging global crude oil prices. The depreciating rupee also dampened investor sentiment.

  • Sebi issues revised KYC guidelines for FPIs

    New Delhi : Markets regulator Sebi on Friday issued revised KYC norms for foreign portfolio investors, wherein resident as well as non-resident Indians have been permitted to hold non-controlling stake in such entities.

  • 55K shell cos struck off in second phase

    Mumbai : The government on Friday said it has struck off around 55,000 shell companies in the second phase of its efforts to curb illicit fund flows and some of the companies have been served notices and are under scrutiny. The corporate affairs ministry has already struck off over 2.26 lakh firms for non-filing of financial statements or annual returns for a continuous period of two years or more as part of

  • Yes Bank shares crash 29%, loses over Rs 22k-cr in market-cap

    Mumbai : Private sector lender Yes Bank’s shares tumbled nearly a third on Friday, wiping around Rs 22,374 crore ($3.1 billion) off its market value, after the Reserve Bank of India (RBI) reduced charismatic CEO Rana Kapoor’s term, creating uncertainty about its outlook. The RBI said late on Wednesday Kapoor can serve as the lender’s chief executive only till January 31, 2019, after shareholders voted in June to extend his term for

  • Fitch sees India GDP growing 7.8% this fiscal

    New Delhi : Fitch Ratings on Friday upped India’s growth forecast for the current fiscal to 7.8 per cent, from 7.4 per cent projected earlier.

  • Mohapatra is MD, CEO of Central Bank

    Mumbai: Pallav Mohapatra has been appointed as the managing director & chief executive officer of Central Bank of India with effect from September 21.  Prior to this appointment Mohapatra was the deputy managing director of State Bank of India.  Mohapatra joined SBI as a probationary officer in 1983 and has handled many important assignments and portfolios for over two-and-a-half decades in the bank. These include CEO, SBI Cards, dy GM, project management

  • Govt may cut H2 market borrowing

    New Delhi : Grappling with a rising cost of borrowing, the government is considering a further reduction in its gross market borrowing for the current financial year when it releases the borrowing calendar for October-March, likely on September 28, two finance ministry officials said.

  • BoI looks to sell stake in 3 associate cos

    New Delhi: Bank of India (BoI) on Friday invited bids for sale of its stake in three associate companies namely STCI Finance, SIDBI and Equifax Credit Information Services. BoI said it was looking to raise nearly Rs 1,000 crore through stake sale in some of its non-core assets and real estate properties. BoI has floated a Request for Proposal for sale of its stake in the three associate companies “by asking Bid

  • Sebi orders forensic audit against Adhunik

    New Delhi : Markets regulator Sebi on Friday ordered a forensic audit of steel maker Adhunik Industries, which figured among 331 ‘suspected shell companies’, on prima facie suspicion of misuse of the company’s books of accounts.