Business

Montroll, a resident of Saginaw, Texas, was charged in a criminal complaint with perjury and obstruction of justice and was arrested in his home state.

Anand Mahindra said although he was born in Maharashtra, UP was his mother's home state. I feel like a traveller who has returned home, said Mahindra.

A strong dollar in overseas markets weighed on the Indian rupee, a currency dealer said. On Friday, the rupee had ended 30 paise lower at 64.21 against the US dollar on rising global crude prices and worsening trade deficit.

The industry body said PSB senior managements spend bulk of their time "receiving and implementing directions from the bureaucrats even for innocuous issues."

According to sources, Vikram Kothari took a loan of Rs 485 crore from Union Bank of India and a loan of Rs 352 crore from Allahabad Bank. A year later, Kothari has been reported to not have paid back either the interest or the loaned amount.

In fact, the numbers of loan fraud cases across India could be even higher since they only include cases reported to the RBI, which involve only loans of Rs 100,000 or more.

But the growth rate fell short of market expectations of 0.2 percent and represented a slowdown from the 0.6 percent in July-September.

In 2013-14, the state-owned banks wrote off bad loans worth Rs 34,409 crore; Rs 49,018 crore in 2014-15; Rs 57,585 crore in 2015-16 and hitting Rs 81,683 in the fiscal ended March 2017.

In India, the growth has been at 15 per cent year-on-year until 2016 and is expected to grow at 25 per cent for the forthcoming years, N Shivakumar, Business Head - RPO, TeamLease Services, said.

Stating that it is difficult to predict global oil prices, Patel said the global charts have shown two-way movement in the recent days and there is a need to be prepared for both the scenarios of rising and falling rates.

The sharp falls of the week confirmed the market was in a correction, down more than 10 percent from a Jan. 26 record high, and throwing the nearly nine-year bull market off course.

Over Rs 25,000 crore of loans slipped into the non-performing assets category in the reporting quarter, driven primarily by under-reporting of NPAs or divergence of Rs 23,330 crore for the previous fiscal.

Duvvuri Subbarao cautioned that every time finance ministers hit the "pause" button on fiscal consolidation, whether it is the UPA government or the NDA government, they have justified it on the ground that "this time is different".

The central bank kept the interest rate unchanged, as widely expected on inflation concerns, but lowered economic growth projection to 6.6 per cent for 2017-18, from 6.7 per cent in its sixth bi-monthly Monetary Policy statement on Wednesday.

Monday’s Wall Street crash wiped off the fortunes of the world’s 500 richest people by $114 billion, says a Bloomberg report.

The RBI has been asked by the government to keep inflation at 4 percent, plus or minus 2 percent, and its rise beyond the comfort zone will put pressure on the central bank not cut interest rate (repo rate).