Business

LIC employees to get 16% wage hike, other benefits. Check details

More than one lakh?LIC employees will benefit from the wage revision bill. LIC employees will get a hike in salary along with an additional special allowance. A 5-day-work week has also been approved. Here is all you need to know:

MFIs to face asset quality pressures in near term amid 2nd Covid wave: ICRA

The near-term outlook for MFIs is clouded given the Covid-induced disruptions. However, the overall long-term growth outlook for the domestic microfinance industry, including MFIs and micro finance-focused small finance banks (SFBs), remains robust.

Sensex, Nifty close higher as IT rally offsets virus-induced slump

The NSE Nifty 50 index closed 0.25% higher at 14,617.85, while the S&P BSE?Sensex?was flat at 48,832.03.

Citigroup to shut retail banking ops in India. Will it impact customers?

Citigroup has announced that it will shut retail banking operations in India. The company has already initiated the process to look for a buyer for Citibank India. Will the move impact the bank's customers in India? Here is all you need to know:

RTGS facility to be unavailable for 14 hours on April 18. Here’s why

RTGS fund transfer facility will not be available for 14 hours on April 18, said the Reserve Bank of India. The central bank has asked its member banks to notify the same to their customers. Here is all you need to know:

Amazon announces $250 million fund to digitise small businesses in India

Amazon has announced a $250 million venture fund for India and it will focus on bringing the country's small businesses online.

Here's why Citigroup is shutting retail banking operations in India

Citigroup’s announcement marks the end of Citibank in India. The US banking group is likely to finalise a buyer before exiting the Indian market. Here is all you need to know:

Sensex, Nifty rise marginally as Wipro results boost IT stocks

At 9:25 am, S&P BSE Sensex was 0.03 per cent higher at 48,826.51, while NSE Nifty 50 was up just 0.1 per cent at 14,599.50. IT services shares climbed 1.3 per cent, led by Wipro which rose 5.7 per cent.

Citigroup to shut banking operations in 13 countries including India

While it has not yet announced a timeframe for the exit, the third-largest bank in the US will exit the consumer banking market in India, China, Australia, Malaysia, Bahrain, Korea, Indonesia, Russia, Vietnam, Philippines, Thailand, Poland and Taiwan.

Indian shares end choppy session higher after positive vaccine news

While NSE Nifty 50 index ended 0.5?per cent higher at 14,581.45, the S&P BSE Sensex gained 0.5?per cent to 48,803.68.

WPI inflation spikes to over 8-year high of 7.39% in March

Wholesale price-based inflation has spiked to over 8-year high of 7.39 per cent in March on rising crude oil and metal prices. This is the third straight month of up-tick seen in the WPI based inflation.

Crude oil maintains upward momentum despite fresh coronavirus fears

The International Energy Agency (IEA) has predicted global oil demand and supply were set to rebalance in the second half of the year and that producers may then need to pump an additional 2 million barrels per day (bpd) to meet the expected demand.

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