Competition Commission of India (CCI) has slashed fine of total Rs. 215 crore on zinc-carbon battery makers for forming cartel and colluding fix prices for their products. The penalised battery makers included Eveready Industries, Indo-National and Panasonic Energy India Limited.

The stressed asset problem in the banking system is getting momentum and has seen its first result today. Electrosteel Steels Ltd becomes the first of the 12 accounts to get resolved under NCLT proceedings

Oil marketing companies (OMCs) were trailing on the bourses on Wednesday following news reports that government has asked them to absorb the recent spurt in international crude oil prices

Hindalco was the top gainer in the early hours of the trade on Tuesday supported by a sharp jump in Aluminium prices. The prices have surged from US$2,004 per tonne in the first week of April to US$2,151 per tonne currently on London Metal Exchange.

The fear of trade war between the two largest economies has grappled markets across the globe. In a retaliatory measure China imposed tariff on 106 products ranging from soya to cars and aircraft. This was in response to Trump administration's proposed hike in import tariffs on hi-tech goods originating from China announced on Tuesday.

Hinduja Global Solutions (HGS) has acquired majority stake in digital consulting services company Element Solutions. The company’s UK subsidiary acquired 57 per cent stake in the company for an amount of $5 million. 

Post PNB scam, the banking sector has witnessed many consequences impacting the credit flow in the Indian economy. The ministry of Finance received many representations on easing the grip on banks and providing alternatives to LoUs.The PNB scam of Rs. 13,000 crore has forced RBI to tighten the grip on PSU banks and directed to identify similar instances. Further, the banks were also directed not to issue LoU’s and guarantees.

The list of mega bank fraud cases in India is increasing day by day. Major PSU banks are coming forward with astounding number of frauds. The latest one came from Union Bank of India, which is worth Rs. 1,400 crores.

The prices have accelerated by 10 per cent in the previous two weeks due to weak US dollar and lower US crude inventories.

The aftermath of PNB scam has created various shifts in banking system and regulators have tightened the grip on banks across the board. In a new resolution shared by RBI, it has banned banks for issuance of LoU (Letter of Undertaking) for availing buyers credit.