Vikas Jain, head of India trading, fixed-income, currencies and commodities at Bank of America, said as foreign investment in Indian bonds heads toward the 10% weight on the JP Morgan bond index next year, the process of discretionary weighting changes would start to play out, creating a more complex trading environment.
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UCO Bank on Thursday said the lender has retained or recovered Rs 649 crore, which is 79 per cent of the amount, erroneously credited to some accounts of the bank through Immediate Payment Service (IMPS) because of some technical glitch. Following the snag, the Kolkata-based public sector lender took various proactive steps and blocked the recipients' accounts. In a regulatory filing the bank said it has been able to recover Rs 649 crore out of Rs 820 crore which is about 79 per cent of the amount. UCO Bank is, however, yet to clarify whether this technical glitch was due to human error or a hacking attempt. It is to be noted that the IMPS platform is operated by National Payments Corporation of India (NPCI). The bank has initiated requisite actions to recover the balance amount of Rs 171 crore, it said, adding, the matter has also been reported to the law enforcement agencies for necessary action. The bank earlier said, "It is clarified that the transactions observed by bank were due to internal technical issue as a result of which account holders of our bank have received some erroneous via IMPS. We wish to clarify that there was no issue with the IMPS platform." The bank, as a precautionary measure, has made the IMPS channel offline and is working closely with the stakeholders to resolve the issue and restore the IMPS services at the earliest, it said. The bank said that it has reported the matter to the law enforcement agencies for necessary action, it said. "The bank re-iterates and assures that all other critical systems are operational and available. The bank continues to provide safe and secured services to customers," it said. The financial impact, if any, due to the aforesaid is yet to be ascertained and the bank will endeavour to intimate the same on ascertainment, it said. UCO Bank's net profit for the quarter ended September (Q2FY24) dropped 20.4 per cent year-on-year (YoY) to Rs 402 crore on a decrease in non-interest income and a rise in operating expenses. Sequentially, the banks' profit went up 79.7 per cent in Q2, from Rs 223 crore in the quarter ended June (Q1 FY24). Shares of UCO Bank declined by 1.1 per cent to Rs 39.39 on the BSE in afternoon trade.
UCO Bank on Thursday said the lender has retained or recovered Rs 649 crore, which is 79 per cent of the amount, erroneously credited to some accounts of the bank through Immediate Payment Service (IMPS) because of some technical glitch Following the snag, the Kolkata-based public sector lender
Talking to Greater Kashmir, his friend and former finance minister Haseeb Drabu said that Aima was living on his own at his flat in Bandra, Mumbai where he had breathed last at 4 pm on Saturday.
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American and European oil firms reported dampened quarterly results this week as natural gas prices declined in comparison to last year. The companies missed market expectations as they continued to withdraw from the peak levels seen in 2022, a result of a surge in the post-pandemic demand and high prices after Russia’s invasion of Ukraine. Major oil firms such as Exxon Mobil in the US said that they didn’t meet expert targets on fuel derivatives in their results for the January to March quarter. However, Chevron surpassed moderate expectations and clocked better-than-expected oil production figures in the US. French oil firm, TotalEnergies, also managed to beat predictions given by the analyst as strong refining margins helped balance the decline in profits from natural gas, reported Reuters. While Exxon saw a fall of 28 per cent in profit, Chevron clocked a decline in profit by 16 per cent, both on a year-on-year (YoY) basis. Both the US firms observed an impact on profits from gasoline and fuels.TotalEnergies also reported a plunge in profit by 22 per cent against the same period a year earlier. The firm’s CFO, Jean-Pierre Sbraire, noted, “European gas prices declined by 35 per cent, reflecting a mild winter and high storage levels.”Notably, the US gas benchmark, Henry Hub futures, remained below $1.70 per million British thermal units (mmBtu), while it crashed earlier this year to touch a new low in three and a half years owing to warm weather and oversupply. Brent crude, the global oil benchmark, also reported a flat trend in prices at $81.76 a barrel in the quarter, against the same period a year earlier. Currently, oil prices are ranging around $90 and this essentially means attractive refining margins seen earlier this year are expected to dampen.Also Read : US Food Regulator Investigating Indian Spices Amid Contamination Concerns: ReportThe companies didn’t provide any guidance regarding their production estimates for the upcoming quarters, denting investor sentiments.
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Dunki Box Office Collection Day 24: Shah Rukh Khan’s third and last Bollywood release of 2023, ‘Dunki’ minted lowest so far on its fourth Saturday, January 13, raking in ₹0.85 crore net in India.
: Shah Rukh Khan’s third and last Bollywood release in 2023, ‘Dunki’ was released on December 21 and 292 crore net marked its opening day collection The film minted the lowest so far on its fourth Saturday, January 13.
Dunki minted 22327 crore net within 24 days at the Indian box o
