India News

PMC Bank Fraud: RBI further raises withdrawal limit to Rs 50,000

The Reserve Bank of India (RBI) on Tuesday revised the withdrawal limit for Punjab and Maharashtra Co-Operative Bank customers to Rs 50,000.

With this relaxation, about 78% of the depositors of the bank will be able to withdraw their entire account balance, the RBI said.

The RBI had on September 23 placed restrictions over account holders of PMC Bank after allegations of financial irregularities, limiting the total value of the transaction at 10,000.

NCP makes proposal to Shiv Sena, mentions 2.5-year each term for CM post, asks latter to break ties with BJP: Sources

As BJP-Shiv Sena power tussle continues over government formation in Maharashtra, the latter's leader Sanjay Raut is continuing his attacks on ally BJP.

Raut has reiterated that Shiv Sena's is firm on its demands. "There is no new proposal over the government formation and we will go forward with our demand of sharing the chief minister's post for 2.5 years each. If the President's rule is imposed in Maharashtra then it will be an insult to the peoples' mandate," Raut said.

PNB reports net profit of Rs 507 crore in Q2; finances under stress

Though Punjab National Bank (PNB) posted a rise in profit before tax (PBT) of Rs 633 crore in the September quarter (Q2), its finances showed signs of stress, when it is going to acquire two public sector banks from the next financial year.

In terms of profitability, PNB was in a better position than the same quarter in the last fiscal. Its net profit stood at Rs 507 crore in Q2, compared to a net loss of Rs 4,532 crore in the same quarter last fiscal year. In Q1, the bank’s net profit stood at Rs 1,019 crore. PNB’s stock price closed lower by 5 per cent at Rs 64.75 on Tuesday.

Fadnavis should be Maharashtra CM, Aaditya Thackeray does not have experience: Ramdas Athawale

As the government formation in Maharashtra continues to delay amid power tussle between BJP and Shiv Sena, the Republican Party of India chief Ramdas Athawale on Saturday said that chief minister should be of the Bharatiya Janata Party.

"Devendra Fadnavis should get the chance... Aaditya Thackeray does not have experience..." Athawale said.

Replace diesel buses with electric ones: Merkel on Delhi air pollution

German Chancellor Angela Merkel, who is on a three-day visit to India, on Saturday said that looking at the severity air pollution situation in Delhi, it would be a good idea to replace diesel buses with electric ones.

Merkel said, "it would be a good idea to replace diesel buses with electric ones."

Chandrayaan-2 not end of story, human spaceflight plans on track: Isro

The Indian Space Research Organisation will put in all efforts to demonstrate soft landing in space in the near future and Chandrayaan-2 is not the end of story, Isro chief K Sivan said on Saturday.

He said a large number of advance satellite launches are planned in the coming months.

'Will soon drop our wait and watch mode': Shiv Sena's Sanjay Raut as govt formation in Maharashtra continues to delay

As the power tussle continues between BJP and Shiv Sena over government formation in Maharashtra, the latter's leader Sanjay Raut has said that soon they will end their wait and watch mode.

Speaking to media, Sanjay Raut on Saturday said, "If there is a delay in the formation of government in a state, and a minister from the ruling party says President's rule will be implemented in Maharashtra if the government isn't formed, is this a threat to the MLAs who have been elected?"