News Brief: Today’s Banking, Economy, Finance News

Federal Bank has allotted 86,162 equity shares to its employees under its Employee Stock Option Schemes (ESOS). The bank allotted 1,525 equity shares with a face value of ₹2 each under the ESOS 2010 Scheme. In addition, 84,637 equity shares with a face value of ₹2 each were allotted under the ESOS 2017 Scheme.

Government says NPA is decreasing in Public Sector Banks but Data tells different story. Large Defaulters Owe Rs.29 Lakh Crore to PSU Banks. Among the PSU banks, Union Bank of India has the highest amount of large defaults, with dues of about ₹9.96 lakh crore. Read Full News.

Price of AC may increase upto 15% this summer due to increase in cost of raw material. Daikin, Voltas, Blue Star, LG may increase price upto 15%.

Crude oil prices in the international market have reached a three-and-a-half-year high due to the ongoing war between US-Israel and Iran in the West Asia. On Sunday, Brent crude prices crossed the $100 per barrel level. Previously, crude oil had crossed $100 in 2022. The Government of India said on March 8 that India will not face a shortage of crude oil. India currently has a stock of more than 25 crore barrels (approximately 4,000 crore liters) of crude oil and refined petroleum products. As per Govt, the country’s entire supply chain can easily run for 7 to 8 weeks.

Iran has named Mojtaba Khamenei as the country’s next Supreme Leader. He is son of Ayatollah Ali Khamenei who was killed in a joint attack by the US and Israel.