J&K Bank sells 1.65 lakh shares of McDowell Holdings

MUMBAI: Jammu and Kashmir Bank Wednesday offloaded 1.65 lakh shares of UB group company McDowell Holdings for an estimated Rs 51.85 lakh through an open market transaction. According to bulk deal information available with the bourses, Jammu & Kashmir Bank offloaded 1,65,300 shares of McDowell Holdings. The shares were sold at an average price of […]

Apple and Samsung trade barbs as new patent trial opens

SAN JOSE: Lawyers for Apple and Samsung exchanged barbs as a major new patent trial opened, and debated the role of a company not even part of the case — Google. Apple’s legal team vowed to prove that Samsung flagrantly copied iPhone features and should pay more than $2 billion in damages, as the two […]

Banks must not punish non-maintenance of minimum balance: RBI

Banks must not punish non-maintenance of minimum balance: RBI

MUMBAI: As part of a consumer protection initiative, the Reserve Bank of India on Tuesday asked banks not to levy penal charges on customers who don’t maintain a minimum balance in basic savings bank accounts. “Banks should also not take undue advantage of customer difficulty or inattention,” RBI Governor Raghuram Rajan said while releasing the […]

No change in EMIs likely as RBI keeps interest rate on hold

MUMBAI: EMIs for housing and car loans are likely to remain unchanged after the Reserve Bank Tuesday maintained the status quo on the key policy rate (repo), as was widely expected, and said there are risks to inflation. The RBI, in its first bi-monthly monetary policy statement, left the short-term lending rate, or repo rate, […]

9476 ha land in Sonwari brought under high yield crops

BANDIPORA: In order to make the farmers aware about latest technology, Sub Divisional Agriculture Officer Sumbal organized awareness programmes at Town Hall Sumbal. Chief Agriculture Officer, Bandipora and Sub Divisional Agriculture Officer Sumbal besides agriculture experts and progressive farmers attended these camps, an official spokesperson said. While sensitizing the farmers about scientific methods, the experts […]

J&K Bank shares hit all-time high of Rs 1635

SRINAGAR: J&K Bank shares Tuesday jumped to its highest ever price of Rs1635 on NSE and Rs 1629 on BSE as the bank was among top gainers in Group A companies. The stock recorded an appreciation of 5.56 percent and 5.04 percent at NSE and BSE respectively during the day. The share surged remarkably by […]

Goods over Rs 1 crore traded across LoC

POONCH: Goods worth over Rs 1 crore were traded from Pakistanadministered Kashmir (PaK) to Jammu and Kashmir along Line of Control (LoC) at Chakan-Da-Bagh crossing point in district Poonch Tuesday, officials said. As many as 25 trucks rolled out from the Trade Facilitation Centre (TFC) here to PaK, they said, adding, these trucks carried bags […]

Traders raise concern over dilapidated city roads

SRINAGAR: Kashmir Traders and Manufacturers Federation raising its concern over dilapidated city roads Tuesday said the government has completely neglected Srinagar on the development front. “Pothole epidemic prevailing across the city is the direct result of years of underinvestment in our roads by the government,” president KTMF, Mohammad Yasin Khan said. He said though there […]

RBI, ADB project economic growth of 5.5 pc in FY15

MUMBAI: The Reserve Bank of India Tuesday projected a higher economic growth rate of 5.5 per cent in the current financial year with the easing of supply bottlenecks and implementation of stalled projects. “Real GDP growth is projected to pick up from a little below 5 per cent in 2013-14 to a range of 5 […]

‘Irregular weather phenomenon may have a bearing on inflation’

NEW DELHI: Further softening of vegetable prices is unlikely and the impact of the El Nino weather phenomenon on the monsoon could have an adverse bearing on inflation, the Reserve Bank of India said Tuesday. “Vegetable prices have entered their seasonal trough and further softening is unlikely…There are risks to the central forecast of 8 […]