Punjab National Bank hikes lending rates by up to 10 basis points

For loan of a six-month tenor, the borrowing rate will be costlier by 0.10 per cent to 8.40 per cent. While for one, three and five-year loan terms, the new rates are up by 0.05 per cent each to 8.45 per cent, 8.60 per cent and 8.75 per cent, respectively.

News in Pics: Your daily dose of pictures from around the world

Moneycontrol brings to you select pictures that are making headlines across the globe…

Toyota Kirloskar Motor sells 14,102 units in June 2018

TKM had sold 1,973 units in the domestic market and exported 1,655 units of the Etios series in June 2017 as a conscious decision to lower the volumes to lessen any impact on the dealers owing to the uncertainty surrounding implementation of GST in July 2017, it said in a statement.

LIC-IDBI Bank deal tantamount to loot of public savings: CPI(M)

In a statement, the Left party said the Life insurance Corporation (LIC) was a repository of public savings in the form of insurance policies, and using this capital to bailout the "worst defaulter” bank was “tantamount” to loot of people#39;s savings.

NTPC completes acquisition of Kanti, Nabinagar JVs in Bihar

The Nabinagar Power Generating Company (Pvt) Ltd was incorporated as a 50:50 joint venture company of NTPC and Bihar State Power Generation Company Ltd. The company is developing a 1980 MW Nabinagar Super Thermal Power Project in Aurangabad district of Bihar.

This week in Auto: EVs flunk real world driving tests, new launches keep the week buzzing

Here#39;s a look at all the news from the automobile sector that made headlines this past week

Sriram takes charge as MD and CEO of IDBI Bank

B Sriram today assumed charge as Managing Director and CEO of IDBI Bank, according to a regulatory filing. Sriram was appointed MD and CEO in place of Mahesh Kumar Jain who recently took charge as deputy governor of the Reserve Bank of India (RBI).

NMDC, Kopano Logistics form JV for exploration in South Africa

Iron ore mining major NMDC Ltd and Kopano Logistics Services (Proprietary) Ltd (BEE partner) have established a 50:50 joint venture company by the name Kopano-NMDC Minerals (Pty) Limited to undertake exploration and development of mineral properties in South Africa.

Naga Maheswar Rao elevated as Director-Planning at NLC India

Prior to taking up the new role, Nadella Naga Maheswar Rao was serving NLC India as the Chief General Manager/OSD-Contracts and also in the Business Development Division, it added.

Bet on these top 3 stocks which are likely to benefit the most from GST

"I would give rating of 9 out of 10. I would be happier if GST brings petrol and diesel under the GST ambit," Sumit Bilgaiyan of Equity99

Zydus Cadila gets USFDA nod for blood pressure drug

Zydus Cadila today said it has received USFDA approval to market Triamterene and Hydrochlorothiazide tablets, indicated to treat high blood pressure. The approval has been granted for the tablets in strengths of 37.5 mg/25 mg and 75 mg/50 mg.

India’s top 20 distributors manage 24% of total AUM

AMFI data shows that these distributors managed close to Rs 5 lakh crore as on March 2018

Tata Steel, Thyssenkrupp finalise deal for European JV

The combined entity is expected to make an annual savings of up to Euros 500 million.

One year of GST: Fiscal deficit likely to remain under check; 3 sectors and 2 stocks to bet on

Prashanth Tapse of Mehta Group said the impact of GST on macroeconomic indicators is likely to be very positive in the medium-term

RIL to acquire telecom solutions firm Radisys to accelerate 5G, IoT push

The deal is subject to statutory and regulatory approvals and nod of Radisys#39; shareholders.

Tata Steel approves European steel joint venture with Thyssenkrupp

The Board has also adopted resolutions for the signing of the definitive agreement.

Download now! This app by NPPA helps you check approved prices of medicines

NPPA will initiate action on any complaint within 48 hrs of its receipt

Biggest losers: These 10 stocks have lost over 50% in the past 6 months

Take a look at the some of the worst performing stocks of H1 CY18.

Biggest winners: These 10 stocks gained the most in the past 6 months

Check out these top gainers that have given more than 50% returns in CY 2018.

U.S. intelligence believes North Korea making more nuclear bomb fuel despite talks: NBC

In a report on Friday, the network said what it described as the latest U.S. intelligence assessment appeared to go counter to sentiments expressed by President Donald Trump, who tweeted after an unprecedented June 12 summit with North Korean leader Kim Jong Un that "there is no longer a nuclear threat from North Korea."

China factory growth slows in June as trade tensions rise

China#39;s economy has already felt the pinch from a multi-year crackdown on riskier lending that has driven up corporate borrowing costs, promoting the central bank to pump out more cash by cutting reserve requirements for lenders.

Last year witnessed a great transformation: GSTN chairman AB Pandey

Moneycontrol caught up with GSTN chairman Ajay Bhushan Pandey to talk about how the past year was on the technology side, role of Infosys, possibility of leveraging analytics and how the system is shaping up for the future

India#39;s external debt rises $58.4 bn to $529.7 bn

The external debt to GDP ratio stood at 20.5 percent at end-March 2018, higher than its level of 20.0 percent at end-March 2017

22,000 rural markets to be linked to e-NAM portal

The e-NAM is a pan-India electronic trading portal, a network of the existing Agricultural Produce Market Committee (APMC) mandis to create a unified national market for agricultural commodities.

Plane crash: Vikhe Patil seeks case against UY Aviation owner

"I have written to Chief Minister Devendra Fadnavis, demanding that a case be registered against Dipak Kothari, the director of UY Aviation, for being negligent and posing a threat to people#39;s lives," Patil said.

U#39;khand CM orders arrest, suspension of school principal for #39;showing disrespect#39;

The incident happened yesterday at the #39;Janata Darbar#39; of the chief minister here when the principal of a government school in the Nagaon area of Uttarkashi district made a transfer request.

Pak HC issues summons to ISI chief, Defence Secy to appear on July 4

A portion of Khayaban-e-Suharwardy road and around five acre of greenbelt have been closed by the Inter-Services Intelligence (ISI) citing security reasons a few years ago, when terrorists were targeting key security installations.

Cos#39; directors to furnish personal mobile numbers for verification: Government

Director Identification Number (DIN) is a unique number allotted to individuals who are eligible to have directorship on the boards of registered companies.

Forex reserves dip by USD 2.25 bn to USD 407.81 bn

Forex reserves had crossed the USD 400-billion mark for the first time in the week to September 8, 2017, but have since been fluctuating.

Infibeam gets shareholders nod to foray in payments bank biz, raise Rs 2,000 cr

Infibeam#39;s consolidated profit after tax more than doubled to Rs 88.1 crore in fiscal year 2018 from Rs 43.5 crore a year ago mainly on account of over three fold growth in its services business.

Aditya Puri hopes HDFC Bank benefit from rivals#39; NPA pains by expanding market share

The veteran banker further said typically, his bank#39;s growth plans are not dependent on competition.

Delhivery plans $350 million IPO

Since its inception, it has raised nearly USD 257.6 million funding, with major fundings coming from Carlyle and Tiger Global in 2017 and another USD 30 million from Fosun Group.

Temasek acquires stake worth Rs 1,000 cr in Adani Ports

The shares were bought by Camas Investments, which is an indirect wholly-owned subsidiary of Temasek. According to the data, Camas Investments picked up a little over 2.70 crore shares, representing 1.31 percent stake in the firm.

Panasonic launches 3 new series of products

The products from Panasonic Appliances India Company Ltd are manufactured in a state-of-the-art manufacturing facility spread across a 25-acre property at Sholavaram near Chennai, according to a compnay release.

US#39; heavy tariffs will make no major impact on steel production in India: Government

The imposition of heavy tariff by the Trump administration forced the Indian government to impose duties on 16 US imported products.

Moneycontrol Ultimate Business Quiz #33: Test your knowledge

Take a shot at the Moneycontrol Ultimate Business Quiz. Check how many you get right.

Bank of Maharashtra CEO and executive director relieved of all functional responsibilities

In another development, a Sessions Court in Pune granted bail to Executive Director R K Gupta and Deputy General Manger NS Deshpande.

Will LIC be able to turnaround IDBI Bank?

IRDAI has given its nod to LIC to hold upto 51 percent stake in IDBI Bank

Liberalised remittance scheme may have triggered Indians#39; deposits in Swiss banks: Piyush Goyal

Finance Minister Piyush Goyal said the government would start getting details about bank accounts of Indians in Switzerland from next year under a bilateral tax treaty.

Shutdown of Vedanta TN copper plant to hit domestic production

The copper plant of Anil Agarwal-led Vedanta remains closed following a Tamil Nadu government order issued on May 28 due to acid spillage from its copper smelter unit in Tuticorin.

India#39;s textile sector on recovery path: CITI

CITI Chairman Sanjay Jain said the sector which saw a major hit due to demonetisation, implementation of Goods and Service Tax (GST), rupee appreciation and high domestic cotton prices, is finally showing some signs of recovery.

Gadkari wants banks to find ways to fund stalled road projects

The National Highway Authority of India (NHAI) has awarded 104 HAM projects including some during the previous government#39;s term, but as many as 56 of them are stuck as developers are unable to secure financial closure.

Sanju expected to make Rs 40 cr on opening day, highest box office collection in 2018

Overall, theatres evaluations, audience feedback, and critique reviews give both Ranbir Kapoor and Sanju a ten on ten.

APAC airline industry may deliver $8 bn this year: IATA

In its latest financial forecast update, the IATA said that just as Asia Pacific region benefitted "disproportionately" from the boost to air freight in 2017.

PNB set up centralized loan processing centre to improve credit quality

The bank has opened its first CLPC as well as launched a new initiative called Reach In Reach Out (RIRO) as part of efforts to improve credit quality and ensure faster processing of loans.

Pricey Hong Kong set to impose vacancy tax on empty new flats

Apart from the tax, the government also said nine plots of land previously allocated for private homes, including three in the prime Kai Tak district, would be used for public housing.

Companies need to win trust of society: HUL#39;s Harish Manwani

This is the last AGM speech of Manwani as he retires this month, to be succeeded by HUL#39;s current MD and CEO Sanjiv Mehta.

NTPC ranked 25th in India#39;s in Great Place to Work list

NTPC has also been recognised as the Laureates for consistently getting featured in the list for 10 years in a row.

CBI calls AirAsia Director R Venkataramanan for questioning on July 3

It is alleged that accused promoters of the company and board of directors allegedly entered in criminal conspiracy with unidentified government officials through lobbyists to expedite the approval process for AirAsia India and change in aviation policies to suit the company.

Indians with illegal Swiss bank deposits to face harsh penal proceedings, says Jaitley

Noting that Switzerland in financial disclosures was always a reluctant state, Jaitley said the Alpine nation has amended its domestic laws involving all disclosures and entered into a treaty even with India and real time flow of information with regard to Indians would be made.