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RBI rebuts social media rumours on closure of 9 banks

MUMBAI: Rebutting social media rumours swiftly, the Reserve Bank of India on Wednesday said no commercial banks are going to be shut. Finance secretary Rajiv Kumar discribed such social media messages as “mischievous” saying the government was in process of strengthening public sector banks by infusing capital in them. “Reports appearing in some sections of social media about the RBI closing

Book clinic: can you recommend modern fiction to replace my love of classics?

‘Deliriously funny pastiche’: Francis Spufford. Photograph: Murdo Macleod/The Guardian Q: How can I wean myself off classics and on to something more contemporary? Anna Morton, 49, Oxfordshire A: Claire Armitstead, writer and critic, says: There are three possible prescriptions for your addiction. The first is the methodone approach: find a substitute that satisfies, without actually

Dubai Startup Hub launches 4th edition of networking series

Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, in cooperation with Area 2071, recently kicked off the fourth edition of its weekly networking series which brings together stakeholders from the Dubai startup ecosystem and features inspirational talks led by successful entrepreneurs and industry innovators. The 10-week series, hosted at Emirates Towers,

Bank of Baroda expects Rs 10,000 crore capital from government

State-run lender, Bank of Baroda has requested the government to inject Rs 10,000 crore equity from its recapitalisation plan in the current financial year, the bank’s Executive Director Papia Sengupta said on August 26. Bankers are expecting capital infusion as early as September after Finance Minister Nirmala Sitharaman last week said public sector lenders will receive upfront

THE FUTURE OF NETWORKS DEPENDS ON HYPERSCALERS AND BIG CLOUDS

If you want for the rapid pace of innovation in datacenter networking to continue, then you had better hope that the hyperscalers and major public cloud builders don’t run out of money. That is because it is their collective appetite for bandwidth is paying for the network ASIC, switch, and transceiver makers to push the

Israeli Cryptocurrency Traders Locked Out of Banking System: Report

After being unable to deposit profits, Israeli cryptocurrency traders are looking for answers from banks and regulators. Still unfamiliar with the technology, some $86 million in unpaid taxes on cryptocurrency trade earnings have piled up as banks refuse to touch deposits writes Israeli media Haaretz. “The tax authority is aware of the problem, but they say

Traces of two unknown archaic human species turn up in modern DNA

Evidence of two unknown, archaic human species has turned up in our DNA(Credit:sprestiges/Depositphotos) Fossils are the most reliable way we can piece together the history of humans, but some clues have been inside us all along. The human genome can tell us where we’ve come from, and it’s hiding more than a few surprises. Now

Rediscovering the ancient practice of Yoga for the future generations

One of the biggest contributions of India to the world is the knowledge of Yoga, now accepted internationally by the United Nations (UN) and the world. International Yoga Day is celebrated every year on the day of Summer Solstice (June 21) since 2014.(Biplov Bhuyan/HT PHOTO) One of the biggest contributions of India to the world

Bank of Baroda buys ₹3,000 crore DHFL loans

MUMBAI: Bank of Baroda (BoB) has entered into a transaction with Dewan Housing Finance Corp. Ltd (DHFL) to acquire loans worth ₹3,000 crore against its exposure to the non-bank lender, even as a lenders’ consortium to the stressed non-bank lender considers a resolution plan, two people aware of the development said. BoB acquired the pool of loans made