Business Standard

NMDC is working on strategies to achieve the 60 MT iron ore production mark this fiscal to meet growing demand from domestic steelmakers for the key raw material, its Chairman Amitava Mukherjee said. Aligned with the National Steel Policy 2017, which targets an installed domestic steelmaking capacity of 300 MT by 2030-31, NMDC, India's largest iron ore producer, aims to scale its output to 100 MT during the period. Having crossed the 50 MT milestone in FY2026. NMDC is now aggressively executing

Netbanking costs a flat Rs 8-12 per transaction, making it cheaper than UPI for large transfers by brokers after a 0.02 per cent MDR takes effect on October 15

UPI may remain free for investors, but brokers could face a new cost every time customers move money into their trading accounts - even if they never make a trade

The Reserve Bank of India (RBI) on Tuesday absorbed Rs 3,93,352 crore through variable rate reverse repo (VRRR) auction amid huge surplus liquidity in the banking system. The central bank received bids worth Rs 3,93,352 crore, for a notified amount of Rs 5 lakh crore. It accepted all bids at a cut-off and weighted average rate of 5.24 per cent, according to a release. Over the last month, the RBI has been conducting VRRR auctions in order to absorb excess surplus liquidity from the banking syste

The expansion marks a shift in Chalet's business model, with the company now pursuing a combination of third-party operated hotels, franchise properties and hotels under its own Athiva brand

About 2,00,000 barrels per day of diesel (gasoil) transited the Bab-el-Mandeb in August on vessels bound for Europe, close to year-earlier levels

Strong inflows from the central bank's swap scheme pushed banking system liquidity to a record, weighing on overnight rates and prompting VRRR auctions

The Department of Economic Affairs under the finance ministry has notified changes in Foreign Direct Investment (FDI) norms to allow e-commerce firms to maintain inventory only for export purposes. These firms will have to export goods manufactured or produced in India. Also, FDI in inventory-based e-commerce retailing has not been permitted. The department in a September 2 notification has added a provision in this regard in the Foreign Exchange Management (Non-debt Instruments) Rules, 2019.

Zerodha Corporate Advisors can now manage IPOs and offer corporate finance and issue-related services as the group broadens its business beyond broking

Rupee appreciates to two-month high on RBI intervention

State-owned banks plan to use the MY Bharat portal to offer internships and training to young people and build a pipeline for recruitment into entry-level banking jobs

Among large private banks, Goldman Sachs sees the strongest upside in ICICI Bank; Bernstein, meanwhile, rates ICICI Bank, Axis Bank, HDFC Bank and IndusInd Bank as 'Outperform.

The United Forum of Bank Unions (UFBU) has decided to go on a nationwide strike on September 11 over the delay in implementing five-day banking, differences over the performance-linked incentive scheme, and several pending demands, including pension-related issues. If the strike materialises, banking services, especially in public sector banks, would be impacted for four days in many parts of the country. September 11 is a Friday, and the subsequent two days are bank holidays. September 14 is a

Finance Minister Nirmala Sitharaman on Tuesday asked public sector banks to keep pace with youth's expectations of simple, intuitive, personalised and round-the-clock banking. Speaking at the PSB Confluence here, she asked public sector banks to launch a month-long 'Banking for Youth' campaign commencing October 2, 2026, with particular outreach to citizens above 16 years of age. The minister said banks should take the campaign directly to youth rather than wait for them to come to branches. Col

Finance Minister Nirmala Sitharaman said the two-day PSB Confluence deliberations will provide substantive material for the high-powered panel on banking for Viksit Bharat

Finance Minister Nirmala Sitharaman on Monday said the government would soon constitute a high-level panel on 'Banking for Viksit Bharat'. In this year's Budget, the Finance Minister had proposed a high-level committee on 'Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth. Addressing the two-day PSB Confluence here, Sitharaman said, We expect the announcement of the high-powered committee to look into the banking sector... soon the co

The rapid adoption of drugs made by Novo Nordisk and Eli Lilly has fuelled investor concerns that appetite-suppressing medicines could permanently reduce demand for packaged foods, snacks and beverage

The two-day conclave will focus on deposit mobilisation, credit expansion, rural value chains, wealth management and other next-generation reforms for public sector banks

C S Setty said banks must take AI beyond retail applications to improve credit access, risk assessment and productivity while strengthening cybersecurity and governance