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RBI slaps Rs 10 lakh fine on South Indian Bank

Thursday, June 20, 2019, 10:20 AM

The RBI said it has imposed a fine of Rs 10 lakh on South Indian Bank for violating norms regarding bank guarantees. The penalty follows references from a government department and a private party alleging non-payment of invoked bank guarantees by the lender, the Reserve Bank said in a statement. The penalty has been imposed through an order dated June 13.
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Farm sector likely to get Rs 25 lakh-crore budget boost

Thursday, June 20, 2019, 10:11 AM

The central government has targeted spending Rs.25L crore on the rural and farm economy over the next five years, which will reflect in allocations to be made in these sectors in the annual Budget on July 5, an official said. In the previous term of the Modi government, farmers' earnings had been hit by low agricultural prices, leading to farm-loan waivers by several states.
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Renault to stop selling diesel cars from 2020

Thursday, June 20, 2019, 10:05 AM

Following in the footsteps of market leader Maruti Suzuki, French carmaker Renault has decided to stop selling diesel cars in India after April-2020, when the Bharat Stage VI-emission norms come into force. Renault will be the second carmaker which has decided against the diesel powertrains. In April this year, Maruti Suzuki announced it would stop selling diesel vehicles citing high-costs involved in upgrading them.

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