Rupee Climbs 28 Paise Against Dollar in Early Trade
On Friday, the rupee had gained 11 paise to end at 65.41 against the American currency on fresh bouts of dollar selling by exporters and banks.
Jaitley Discusses GST, other Economic Issues with Maharashtra FM
Union finance minister Arun Jaitley on Sunday discussed issues related to GST and other economic matters with Maharashtra finance minister Sudhir Mungantiwar, representatives of industries and bankers.
Why Note Conversion not Allowed till March 31? RBI Refuses Answer
Why was not the conversion of old currency notes allowed till March 31, 2017 for Indians as assured by Prime Minister Narendra Modi in his speech on November 8 announcing demonetisation?
General Insurance Premium Set to go up From April 1
Car, motorcycle and health insurance will cost more from April 1 with regulator Irdai giving go-ahead to insurers for revision in commission for agents.
Stock Markets May See Volatility This Week: Experts
Stock markets may see volatile trading sessions this week amid derivatives expiry and will be guided by global cues for further direction in the short-term, say experts.
Note Ban May Have Affected CAD, Says SBI Research
SBI Research has attributed the lower outward remittances and massive jump in travel receipts, which bumped up the December quarter CAD, to the note ban impact that dominated the review period.
Comptroller and Auditor General of India to Audit Fallout of Demonetisation
The Comptroller and Auditor General of India (CAG) plans to audit the impact of note ban and the affect it has had on government tax revenues, said CAG Shashi Kant Sharma.
Why the National Stock Exchange is Not so Nifty Anymore
Nearly 23 years since it was brought in to cut the BSE to size, the NSE finds itself accused of some of the governance issues that had caused BSE’s fall from grace.
Godrej Group Chairman Adi Godrej Hails Gemonetisation, GST Bill
Godrej Group chairman Adi Godrej on Saturday hailed demonetisation and the proposed GST bill, stating that believers in India's strong future outstripped its doubters.
Amul Defends TV Commercial, Says HUL Trying to Frighten it
Gujarat Milk Marketing Federation Limited (GCMMF), which sells its products under Amul brand, on Saturday defended its TV commercial for ice cream and accused HUL of resorting to "stunt to pressurise and frighten" it.
Short of Track, Indian Railways Eyes Private Suppliers in Blow to State Steel Firm
Indian Railways is considering ending state-owned Steel Authority of India Ltd's (SAIL) virtual monopoly on supplying steel for standard rail tracks, opening up annual purchases worth up to $700 million to the private sector.
CBEC to be Renamed CBIC Under GST Regime
The apex policy making a body for indirect taxes, CBEC is being rechristened as the Central Board of Indirect Taxes & Customs (CBIC) in the run up to the Goods and Services Tax regime to be rolled out from July 1.
Agency Banks, RBI Offices to Remain Open till April 1
The Reserve Bank of India (RBI) has asked all agency banks -- all public sector banks and some private banks -- to remain open on all days between March 25 and April 1.
SBI Chief Arundhati Bhattacharya Among Top 50 in Fortune's Greatest Leaders
State Bank of India (SBI) chief Arundhati Bhattacharya has been ranked 26th in the Fortune's top 50 greatest leaders. She is the only Indian corporate leader in the list.
Declare Black Money by March 31 or Face Penalty, Warns I-T Dept
With the scheme to declare unaccounted income coming to an end on March 31, the income tax department on Friday warned black money holders to make use of the remaining period or face penalty.
Sensex Extends Gains by 113 Points, Nifty Regains 9,100 Level
Stock markets opened higher on Friday with the benchmark BSE Sensex advancing by 113 points in early trade on continued buying by investors in banking and FMCG stocks.
Rupee Recovers 5 Paise Against US Dollar
The rupee recovered 5 paise to trade at 65.47 against the US dollar in morning session on Friday.
Laptop Ban Creates Turbulence For Airline Profits
Britain followed with a similar ban from five countries from the Middle East, northern Africa and Turkey.
Net Forex Reserves Increase by USD 14.2 Billion in April-December Period
In nominal terms, forex reserves decreased to USD 1.3 billion during reporting period against an increase of USD 8.7 billion a year ago. In the April-December period, current account balance decreased to USD 11.6 billion, while in the year-ago period it had stood at USD 21.8 billion.
Airtel to Acquire Tikona Networks' 4G Business for About Rs 1,600 crore
"We believe that combining our capacities in TD-LTE (4G technology for 2300 Mhz band) and FD-LTE (technology for 1800 Mhz and other spectrum bands) will further bolster our network, and help us provide unmatched high-speed wireless broadband experience to our customers," Bharti Airtel MD & CEO (India & South Asia) Gopal Vittal said.
Finance Ministry, RBI to Announce Policy on NPAs Soon: Arun Jaitley
Union Finance Minister Arun Jaitley has said that his ministry and the Reserve Bank of India (RBI) have taken a major policy decision on dealing with the non-performing assets of Indian banks. An announcement is expected in a few days.
4G Contributed 60% of Incremental Data Traffic in 2016: Nokia Survey
High-speed mobile broadband technology 4G drove data traffic across India in 2016, making up 60 percent of incremental data volumes, according to a Nokia study.
India Notifies Amended Tax Treaty with Singapore
The government on Thursday notified the amended India-Singapore tax treaty under which capital gains tax will be levied at source of investments with effect from April 1.
Sensex Snaps 3-day Losing Streak; up 164 Points on Global Cues
Karthikraj Lakshmanan, Senior Fund Manager - Equities, BNP Paribas Mutual Fund said, "After four consecutive days of negative sentiment, stock markets in India traded with some strength today. Benchmark indices opened the day in the green and traded in the positive zone through the day to finally close with gains of over ~0.25 per cent.
Tata Capital Launches Mobile App to Offer Personal Loans
"Digital data allows for a more holistic picture of a customer than financial metrics. With the launch of the app, we aim to sustain our digital presence through new and unique application that uses financial and alternate information during the borrower's credit analysis," Tata Capital's chief operating officer (retail business and housing finance) Govind Sankaranarayanan told reporters.
Parliamentary Panel to Summon Urjit Patel Again on April 20
A Parliamentary panel has decided to summon Reserve Bank Governor Urjit Patel again to explain how much of the junked currency has been deposited in banks post note ban and the progress made in remonetisation.
Govt May Table 4 GST Bills in Parliament Today: Minister
The Cabinet on Monday cleared the four GST related bills to enable roll out of the Goods and Services Tax from July 1.
Rupee Rebounds 5 Paise in Early Trade
The rupee strengthened by 5 paise to 65.39 per dollar in early trade on Thursday on some selling of the US currency by exporters and banks.
Sensex Recovers 147 Points in Early Trade
The benchmark BSE Sensex recovered over 147 points in early trade on fresh buying by investors in blue-chip stocks amid a firm trend in Asia.
Lok Sabha Completes Budgetary Exercise After Passing Finance Bill
The amendments to the Finance Bill include a provision to cap legal cash transactions at Rs 2 lakh from April 1 got approval. The bill had originally proposed the cap at Rs 3 lakh.
Sensex Tanks 318 Points, Nifty Slumps Below 9100 on Global Clues
The BSE Sensex fell for a third straight session, closing down by 317.77 points, or 1.08 per cent -- its biggest single day drop since December 2 when it declined by 329 points -- toend at 29,167.68.
Axis Bank Dismisses CEO Resignation Buzz
Private sector lender Axis Bank on Wednesday said its managing director and chief executive officer Shikha Sharma is not resigning.
Hoping to Implement GST From July 1: Arun Jaitley
Finance Minister Arun Jaitley on Wednesday said that the government was hoping to implement the Goods and Services Tax (GST) by July 1, after the enabling Bills get Parliament nod in the current budget session.
Sensex Plunges 222 Points in Early Trade on Global Cues
The benchmark BSE Sensex declined further by about 222 points to 29,263.74 and the NSE Nifty slipped below the 9,100-mark in early trade on Wednesday due to selling in pharma, auto and oil stocks.
Rupee Falls by 27 Paise Against Dollar in Opening Trade
The rupee declined by 27 paise to 65.57 per dollar in early trade on Wednesday amid gains in the US currency in global markets.
Trump Tries to Rally Support for Healthcare Bill as US Markets Drop
President Donald Trump tried to rally Republican lawmakers behind a plan to dismantle Obamacare on Tuesday as U.S. stock markets showed their worst one-day performance since the November election.
Government to Infuse Capital in IDBI, BoM, Dena Banks
"Board of directors of the bank has approved the proposal for preferential issue of capital to government and other financial institutions, if any aggregating up to Rs 2,500 crore," IDBI Bank said in an exchange filing.
I&B Secretary Promises Stringent IPR Regime
"We have already received a report by a committee chaired by Shyam Benegal about the working of Central Board of Film Certification (CBFC). The matter is now being considered by the government and soon some of the major concerns that have been expressed would be looked into," he said.
BSNL Launches Plan to Provide 2GB Data Per Day at Rs 339
The BSNL has 38,000 landline connections, 14,200 broadband connections and 5 lakh mobile connection in Ghaziabad area.
Indian Equities Pares Losses, Close Flat
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,525.88 points, provisionally closed at 29,485.45 points (at 3.30 p.m.) -- down 33.29 points or 0.11 per cent from the previous close at 29,518.74 points.
NBFCs' NPAs to Linger on For 1-2 Quarters More On Note-Ban: Moody's
NBFCs, growing at a faster pace, have been gaining market share in the origination of retail credit.
Probe Finds IFC Investment in Tata Power Project Breaching Norms
World Banks probe body CAO has raised concerns over IFCs insufficient action to address environmental norms violation by Tata Power arm Coastal Gujarat Power Ltd (CGPL).
India Home to 101 Billionaires, Mukesh Ambani Tops List: Forbes
India is home to world's fourth highest number of billionaires with Reliance Industries chief Mukesh Ambani leading the club of more than 100 super rich Indians, according to a new list released by Forbes magazine.
Sensex Recovers 57 points in Early Trade on Strong Asian Cues
The benchmark BSE Sensex recovered by almost 57 points in early trade today on the back of gains in FMCG, capital goods, PSU, power, auto and IT sector stocks amid positive Asian cues.
Rupee Weakens 8 Paise Against Dollar in Early Trade
The rupee weakened by 8 paise to 65.44 against the US dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency overseas.
Govt Approves Mahila Bank Merger With SBI For Greater Outreach
Three years after it was formed, the government has approved merger of the Bharatiya Mahila Bank with the country's largest lender SBI to ensure greater banking outreach to women.
UP Farm Loan Waiver: SBI Report Sees Rs 27,420 Crore Hit on Banks
If the UP government fulfils its farm loan waiver promise, banks are likely to take a hit of Rs 27,420 crore and the scheme will lead to some stress on the state's fiscal arithmetic, warns a report.
Rupee Scales New 16-month High, up 10 Paise at 65.36
The rupee regained its dominance after a brief consolidation phase and ended on Monday at a fresh 16-month high of 65.36 against the American currency in the face of dollar unwinding from exporters and banks.
Jet Airways Signs Codeshare Agreement With Jetstar Asia
Private carrier Jet Airways on Monday announced its codeshare agreement with Singapore-based low- fares airline Jetstar Asia for flights from the city-state.
Cognizant Likely to Fire 6,000 Workers as Part of 'Regular Appraisals'
Information Technology firm Cognizant may fire as many as 6,000 employees this year, Economic Times reported, citing sources it didn’t identify.
Stocks Down to a Reality Check, Sensex Gives up 130 Points
Stocks were in exhale mode today as the Sensex lost over 130 points to reverse two days of climb and the Nifty got off the record after an eventful last week amid mixed global cues.
Idea-Vodafone Merger May Face Many Regulatory Hurdles
Vodafone India and Idea Cellular’s merger, which was formally announced on Monday and will create India’s largest telecom company, may well run up against a number of regulatory hurdles.
US Tells India no Significant Change in H-1B Visa Regime
The United States has conveyed to India that there is no significant change in the H1B visa regime, Commerce Minister Nirmala Sitharaman said on Monday.
Scrap Decision to Penalise Non-maintenance of Minimum Balance: CPM
A demand was made in the Rajya Sabha today to scrap the decision of the State Bank of India, the nation's largest lender, to levy penalty for non- maintenance of hiked minimum average monthly balance in saving accounts of Rs 5,000.
Sensex Down 129 Points in Early Trade on Profit Booking
The benchmark BSE Sensex fell almost 129 points in early trade on Monday due to profit booking by investors after recent strong gains.
Rupee Gains 9 Paise Against US Dollar in Early Trade
The rupee strengthened by 9 paise to trade at 65.37 against the dollar in opening trade on Monday on fresh selling of the US currency by exporters and banks.
Idea-Vodafone Merger: Indiaâs Biggest Telecom Company with 395 mn Base
Idea Cellular Ltd and Vodaphone India announced a merger on Monday. The new merged entity is now the largest telecommunication company in India.
Cabinet Approves 4 GST Supplementary Bills
The Union Cabinet may approve bills to supplement the Goods and Services Tax (GST) legislation on Monday.
Want to Make India Global Diamond Trading Hub, Says PM Modi
Prime Minister Narendra Modi said on Sunday that India should become an international diamond trading hub in addition to its present status as cutting and polishing hub.
'Power, Sugarcane Arrears, Bundelkhand Top Issues For UP CM'
The new Uttar Pradesh government will have to meet immediate challenges of ensuring quality power supply and find a lasting solution for arrears of sugarcane farmers, Assocham said on Sunday.
India Should Revive Iran-Pakistan-India Gas Pipeline: Parliamentary Panel
India should consider reviving the long-delayed Iran-Pakistan-India (IPI) gas pipeline following easing of sanctions on Tehran, a Parliamentary panel has said.
New Cruise Shipping Policy Will Make India Global Hotspot: Nitin Gadkari
A policy is in the works to make India a global destination for cruise shipping and efforts are on to identify such circuits, besides a slew of steps, to boost infrastructure, Union Minister Nitin Gadkari has said.
Digitisation Will Play Key Role in Removing Hurdles in Education Sector: Ambani
Reliance Industries Chairman Mukesh Ambani on Saturday said that digitisation will play a key role in removing factors that create hurdles in the India’s education sector.
Govt Considering FDI Relaxation in Multi-Brand Retail Policy
The government is weighing the option of permitting overseas retailers to open stores for selling 'Made in India' products only as it looks to relax the norms for multi-brand retail for attracting more funds and generating more jobs.
Bulls Ride on Election Outcome, Nifty Closes Above 9,100-Mark
Riding on the outcome of the just-concluded assembly elections, key Indian equity indices zoomed to new 52-week highs and crossed their psychologically significant levels.
Consider Capping Air Ticket Prices: Parliamentary Panel to Govt
The Department-related Parliamentary Standing Committee on Transport, Tourism and Culture has made the recommendation in its report tabled in the Parliament today. The report is on the Demand for Grants (2017-18) of the Ministry of Civil Aviation.
Parliamentary Panel For Shifting Fiscal Year to January-December
"The Committee would thus expect a more thorough exercise next year onwards. Keeping in view the above constraints, the Committee would suggest that the financial year may also be correspondingly shifted to calendar year and the budget date be further advanced correspondingly," it said.
RBI Gets Approval to Print Rs 10 Plastic Notes
"Approval for procurement of plastic substrate and printing of bank notes of Rs 10 denomination on plastic banknote substrates has been conveyed to the RBI," the minister said.
Raising Tax Could at Times be a 'Retrograde' Method: Arun Jaitley
Jaitley made the remarks while making an intervention during a debate on the demands for grants for the Defence Ministry.“Therefore, whenever we take political positions on those issues, at the end of the day, we must realise that the size of the entire revenue cake has to increase. It is only then that the slice, which will be available for national security, will also increase,” the minister said.
Nifty Brings up a Fresh Closing Peak, ITC in Sweet Spot
On a weekly basis, the BSE Sensex rallied 702.76 points, or 2.42 per cent, and the Nifty 225.50 points, or 2.52 per cent, extending gains for the second straight week.
'Premium Processing of H-1B Visas Suspended to Handle Huge Rush'
>The US on Friday said the premium processing of H-1B visas, which are popular among Indian IT firms and professionals, has been suspended temporarily to handle the huge rush of applications for the work visas in the first week of April.
Nifty Crosses 9,200-mark for First Time, Sensex Climbs 239 Points
Continuing its record-setting spree, the Nifty climbed over the 9,200-mark for the first time and the benchmark Sensex surged 239 points in early hours on Friday, with foreign investors continuing to pump up money.
Rupee Tumbles 24 Paise, Stronger Equities Restrict Fall
Reversing its 4-day climb, the rupee fell 24 paise to 65.65 against the dollar on Friday as the American currency got some of its lure back among banks and importers.
Strong Demand for 'Glo' Smokeless Tobacco: British American Tobacco
British American Tobacco (BAT) said demand for its "glo" tobacco heating device overwhelmed supply in its Japan test marketing, as global cigarette giants shift focus to the new product category amid declining smoking population.
Food, Drink Giants Plot Fightback as India Looks to Tighten Rules
Several food and drink multinationals and trade groups met in recent weeks to discuss how to lobby more effectively against Indian proposals for higher taxes and stricter labelling rules on fatty or sugary foods, sources familiar with the talks said.
Parliamentary Panel Suggests BSNL-MTNL Merger For Long Term Survival
The Department of Telecom (DoT) informed the panel that both the public sector firms are in financial losses and are facing declining revenues from loss of market share and increasing expenditure.
Madras HC Refuses to Stay TRAI Order on Cable Landing Charges
The matter relates to charges levied by Cable Landing Stations (CLS) through which submarine cables which provide vital international communication between countries across the world terminate in India on the seashore.
No Stay on Jio Free Offer; TDSAT Asks TRAI to Re-examine Issue
In its interim appeal, Airtel had sought a stay on Trai's approval to Jio to continue with the free services. It had also sought a direction to the regulator to produce all the records related to its decision.
Sensex Soars 188 Points, Nifty at Fresh Closing Peak on Fed Move
The 30-share BSE index settled higher by 187.74 points, or 0.64 per cent, at 29,585.85. This is the highest closing since January 29, 2015 when it closed at 29,681.77.
Rupee Zooms Another 47 Paise in Dream Run
The rupee rose by another 47 paise to hit a new 16-month high at 65.22 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on sustained foreign fund inflows and increased selling of the US currency by exporters and banks.
Nifty Hits Record, Rupee at 17-month High as Fed Sticks to Gradual Pace
After the US Federal Reserve hiked its benchmark interest rate a quarter point for the second time in three months, the Indian equity markets reacted positively and the key indices opened higher on Thursday.
Fed Raises Rates for Second Time in 3 Months, 2 More Hikes Likely This Year
The Federal Reserve has raised its benchmark interest rate for the second time in three months and forecast two additional hikes this year.
Bad Loans a Challenge, Large Corporates at Root: Arun Jaitley
"To deal with the Non-Performing Assets (NPAs) or bad loans of the banks is a challenging task even though they have shown declining trend in the last quarter of the current financial year," Jaitley said at the first meeting of the Consultative Committee attached to the Ministry of Finance.
I-T Issues 5,100 Notices for Suspicious Post-demonetisation Deposits
The income tax department has issued about 5,100 notices for high-value suspicious deposits post demonetisation and people have admitted to undisclosed income of over Rs 5,400 crore, Parliament was informed on Wednesday.
G20 Finance Ministers to Meet in Germany Under America First Shadow
Finance ministers from the world's top nations gather in Germany on Friday as fears grow that US President Donald Trump could upend the global economic order with his America First policy.
Karnataka Budget 2017: Growth Pangs Post Demonetisation, Drought
Agriculture, which has seen consecutive droughts in the last four cropping seasons, is estimated to grow by just 1.5%. The industry is expected to grow at just 2.2%, compared to 4.9% the previous fiscal.
Fed Expected to Raise Rates as US Economy Flexes Muscle
The Federal Reserve is expected to raise interest rates for the second time in three months on Wednesday, encouraged by strong monthly job gains and confidence that inflation is finally rising to its target.
How Much Does Each New Rs 500 and Rs 2,000 Note Cost? Govt Reveals in RS
The government on Wednesday said it costs between Rs 2.87 and Rs 3.77 to print each currency note of Rs 500 and Rs 2000, but did not indicate the total cost involved in replacing the junk notes.
Farm Loan Waivers Upset Credit Discipline, Says SBI Chairman
Expressing reservations over farm loan waiver schemes, State Bank of India Chairman Arundhati Bhattacharya on Wednesday said such sops may disrupt credit discipline among borrowers.
BJP Win Will Facilitate Further Reforms, Says Moody's
The BJP's thumping victory in Uttar Pradesh and substantial gains made in other states will facilitate reforms as the ruling party inches closer to a majority in Upper House, Moody's Investors Service said on Wednesday.
Hard Cash Being Disclosed Must Exist on Payment Date: I-T Dept
Weeks before the new tax amnesty scheme closes, the government has clarified that any hard cash being disclosed must exist at the time of making payments, but the same condition is not necessary for undisclosed income held in the form of deposits.
Nifty Retreats From Record, Sensex Logs a Slip Too
Stocks took some time out to catch their breath on Wednesday after the Sensex closed lower and the Nifty retreated from its life high amid caution ahead of US Federal Reserve's policy meeting outcome.
More Upside for Rupee, up 38 Paise at 65.44
A day after it surged to a 16-month high on higher expectations of bold reforms, the rupee made a positive start -- though muted -- by rising 9 paise to 65.73 against the dollar on Wednesday, backed by foreign inflows.
Wholesale Price Inflation Rises to Over Three-year High of 6.55% in Feb
India's annual rate of inflation based on wholesale prices rose to over a three-year high of 6.55 percent in February owing to costlier food and fuel, from 5.25 percent in the previous month, even as February's retail inflation also climbed over the previous month to 3.65 percent, official data showed on Tuesday.
February Retail Inflation Rises to 3.65 Percent
Prices of sugar and confectionery items rose by 18.83 per cent in February while inflation in milk and milk product increased by 4.22 per cent
Rupee Hits 1-1/2 yr High, Surges 78 Paise on BJP Sweep
The home currency resumed on a strong footing at 66.20 from last Friday's closing value of 66.60 at the Interbank Foreign Exchange (forex) market on heavy dollar unwinding from speculative traders and exporters tracking weekend developments.
Wholesale Inflation Rises to 6.55% in February Against 5.25% in January
Inflation based on wholesale prices shot up to 39-month high of 6.55 per cent in February because of costlier food and fuel items.
Rupee Zooms 42 Paise on BJP Win, Positive IIP Numbers
The rupee soared 42 paise to 66.18 against the dollar early on Tuesday on increased selling of the US currency by exporters and banks amid higher foreign inflows following BJP's resounding win in UP and positive IIP numbers.
BJP's Win in UP Lifts Nifty to Record High, Sensex Opens Above 500 Points
Crucial state election results lifted the domestic equity indices during the early morning trade session on Tuesday.
All Cash Withdrawal Limits go Back to Pre-demonetisation Era
All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month.
Rupee NDFs Rise After Modi's Win in Uttar Pradesh
The Indian rupee rose in non-deliverable forwards trading on Monday, after Prime Minister Narendra Modi's party won a landslide victory in an important battleground state.
HSBC Breaks With Tradition, Names AIA Boss Tucker as Chairman
"It also highlights a renewed focus on risk and compliance after HSBC recently got itself in hot water with regulators. The strategy now is all about stability and predictability."
'Markets Likely to Cheer BJP's Strong Show in UP, Uttarakhand'
Stock markets are expected to cheer the stunning victory of BJP in UP Assembly polls and may scale to new highs on hopes of further economic reforms, say experts.
ICICI Bank, SBI, StanChart Top Bank Frauds List: RBI
ICICI Bank topped the list of banks that witnessed most number of frauds during April-December period of 2016 with state-owned SBI taking the second spot, RBI data said.
Market Ends in the Green, But Caution Rules on Eve of Election Results
Exit polls out of the way, the market on Friday decided to buy time and wait for the final judgement on Saturday, with the Sensex staying decidedly cautious by consolidating its gains.
Rupee Fights Back, Hits Four-month High of 66.60
The rupee on Friday made a resounding comeback after a brief overnight pause and ended 11 paise higher at a fresh 4-month high of 66.60 against the dollar on renewed selling of the US currency by exporters and banks.
Industrial Production Bounces Back in January, Expands by 2.7%
Industrial production bounced back in January expanding by 2.7 per cent year-on-year mainly due to better performance by the capital goods segment, a barometer of investment activities.
Govt to go After Defaulters: Unpaid Loans of Rs 50,000 Cr Under Watch
As the State Bank of India and Debt Recovery Tribunal push for arrest of businessman Vijay Mallya for defaulting on loans, the government and banks are preparing the ground to take tough action on bank loan borrowers who are capable of repaying but have defaulted.
Riding on Exit Polls Forecast Sensex Climbs Over 146 Points
Riding on exit polls that predict the BJP emerging as the single largest party in UP and coming to power in Uttarakhand, the BSE Sensex climbed over 146 points in opening trade on Friday on heavy fund inflows.
Paytm Takes Back 2% Fee on Wallet Top-up Via Credit Cards
Paytm has withdrawn the 2 percent fee on adding money to mobile wallets using credit cards, a merely two days after introducing the levy.
Rupee Gains 4 Paise Against Dollar in Early Trade
Forex dealers said that besides selling of the American currency by exporters and banks, weakness of the dollar against other currencies overseas also supported the rupee.
NBFC Cash Loan Against Gold Restricted to Rs 25,000
Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold, the Reserve Bank said on Thursday.
Market Posts Minuscule Gains Ahead of Poll D-day
The market moved back and forth many a time today, but ultimately shaped up in nick of time to close with paltry gains as investors waited for the state election results.
Paytm to Levy 2% Fee on Topping up Wallets With Credit Cards
Paytm users will now have to pay a two per cent fee for adding money to their wallets using credit cards.
Decision to Suspend Fast Track H-1B Visas to Hurt US Economy: Kaushik Basu
The decision of the United States to suspend fast-track H-1B visas will hurt India in the 'short run' but will hugely damage the American economy, former chief economist of the World Bank Kaushik Basu said on Thursday.
Jaitley to Chair High-level Meet on Non-performing Assets in Banking Sector
Finance Minister Arun Jaitley will chair a high-level meeting with Reserve Bank officials on Friday to address the issue of non-performing assets in the banking sector.
New Rs 10 Notes With More Security Coming Soon, Old Ones to Remain Valid
The Reserve Bank of India (RBI) will soon issue Rs 10 denomination notes with enhanced security features for circulation.
RBI Opposes Tata-DoCoMo's USD 1.17 Billion Plea
The Delhi High Court on Wednesday asked the RBI whether its permission was required if there is no other objection to the enforcement of the USD 1.17 billion arbitral award in favour of Japanese telecom major NTT Docomo in its case with Tata Sons.
Qatar Airways Announces Plan to Set Up Airline in India
Qatar Airways plans to set up an airline in India along with the Gulf nation's sovereign wealth fund, its chief executive Akbar Al Baker said on Thursday.
Sensex Extends Losses Ahead of Exit Polls; Down 87 Points
The Sensex shed about 87 points while the NSE Nifty cracked below the 8,900-mark in early trade on Thursday on sustained selling in oil and gas, power, healthcare and PSU counters ahead of exit poll results.
Rupee Weakens More, Loses 12 Paise Against Dollar
Apart from the increased demand for the American currency from importers and banks, its strength against other currencies overseas pulled down the rupee.
Restricting Work Rights for H-1B Spouses a Dampener: Nasscom
IT industry body Nasscom on Wednesday said any move to restrict work rights for spouses of H-1B visa holders may dampen the enthusiasm of tech professionals to go on such visas, but will not directly impact the industry.
Minimum Balance Penalty to Offset Costs of Jan Dhan Accounts: SBI Chief
Providing a rationale for re-introducing penalty for non-maintenance of minimum balance in its savings accounts from April 1, State Bank of India chief Arundhati Bhattacharya on Wednesday said the public sector lender needs funds to balance the oeprational costs of Jan Dhan accounts.
Rupee Struggles to Make Headway, Down 4 Paise at 66.71
The rupee turned weaker after a two-day rise and ended lower by 4 paise at 66.71 against the US dollar in a relatively muted trade on renewed demand for the American currency from banks and importers.
Market Takes a Muted Line as Poll Results Loom
Investors chose to sit tight on Wednesday as the Sensex remained in the bearish territory for the second day, dropping further by 98 points, and anxiety concerning state poll results and a probable Fed rate hike grew.
Rupee up 4 Paise to 4-Month High in Early Trade
Continuing with its strong rally, the rupee edged up another 4 paise to a four-month high of 66.63 against the US dollar in early trade on Wednesday on increased selling of the American currency by banks and exporters.
Sensex Recovers 23 Points in Cautious Early Trade
The benchmark Sensex opened on a cautious note to recover almost 23 points in early trade on Wednesday on fresh buying by investors in select blue-chips amid foreign fund inflows and mixed Asian cues.
Inflation Under Control, GDP Unhurt by Note Ban: PM Modi
Prime Minister Narendra Modi on Tuesday said his government has been able to tame inflation which had gone out of control before 2014 and no political party could raise the issue during the polls in five states.
BSNL, MTNL Merger Plan Back on Discussion Table
According to a highly-placed source in the Department of Telecom, a top-level meeting recently discussed possibility of merging both the entities that are facing financial stress due to increasing competition in the sector.
Rupee Scales Near 4-month High of 66.67, up 4 Paise
The rupee on Tuesday firmed up for the second consecutive session and closed at a nearly 4-month high of 66.67 on continued selling of the American currency by banks and exporters.
Sensex Treads With Care, Slips Ahead of Exit Poll
The stocks were a picture of contrast on Tuesday as the Sensex developed cold feet ahead of the key exit poll findings, coming off its 2-year high and shy of the 29,000-mark at the close.
Sensex Treads With Care, Slips Ahead of Exit Poll Numbers
The stocks were a picture of contrast on Tuesday as the Sensex developed cold feet ahead of the key exit poll findings, coming off its 2-year high and slipping marginally below the 29,000-mark.
United States Imposes Anti-Dumping Duty on Off Road Tyres from India
The United States of America has issued anti-dumping duty orders on off road tyres manufactured in India, according to a notification by the US Department of Commerce. The tax is effective immediately.
Finance Bill to be Passed Before March 31: Arun Jaitley
The Finance Bill will be passed by Parliament before March 31 to enable ministries to avail funds from April 1, Finance Minister Arun Jaitley said on Tuesday.
Reliance Capital Sells Paytm Stake to Alibaba Group for Rs 275 Crore
Reliance Capital has sold its nearly 1 percent stake in popular digital payments firm Paytm for Rs 275 crore to China's Alibaba Group in a deal reaping huge gains for the Anil Ambani-led group firm.
Economy to Grow 7.1% in FY17, Dec Quarter GDP Surprising: Fitch
Global rating agency Fitch on Tuesday said Indian economy will grow by 7.1 per cent in the current fiscal before stepping up to 7.7 per cent in the next two financial years.
Rupee Advances 5 Paise Against Dollar in Early Trade
Forex dealers said that apart from weakness in the dollar against other currencies overseas, robust foreign fund inflows and a higher opening in the domestic equity market supported the rupee.
Sensex Builds on Gains, up 50 Points in Early Trade
Shares of Adani Power surged 5.58 per cent to Rs 40.70, while Reliance Power was quoting 3.63 per cent higher at Rs 48.55.
India Will Replace Russia for Third Place at Global Energy Market by 2020: IEA
India is moving to the centre stage of global energy market and by the early 2020s it will replace Russia as the world's third-largest refiner, a top official of the International Energy Agency said.
India Favours Integrated Companies But Against Monopoly: Dharmendra Pradhan
Indian government favours the creation of integrated companies in the public sector but would ensure that it does not result in the monopoly, the visiting Union Minister Dharmendra Pradhan said.
Note Ban Impact on GDP May be Seen This Quarter, Says RBI
Demonetisation impact on GDP may be seen in the current quarter in some segments, while the remonetisation exercise should be completed in 2-3 months, RBI Deputy Governor Viral V Acharya said on Monday.
Rupee Stages Smart Rebound to Regain 10 Paise
The rupee on Monday staged a smart rebound by recovering 10 paise against the US dollar to end at 66.71 on fresh selling of the American currency by corporates and banks.
In 2-year High, GST Takes Sensex Back to 29,000-mark, RIL Big Mover
The markets made a powerful comeback on Monday as the Sensex rallied almost 216 points and reclaimed the 29,000-mark to close at a 2-year high, cashing in on solid gains in index heavyweight RIL amid mixed global cues.
Sensex Scales Past 29,000-mark, up 217 Points in Early Trade
Brokers said that besides buying by retail investors,pumping of funds into the market by domestic institutional investors too contributed to the recovery.
Rupee Rebounds 7 Paise Against Dollar in Early Trade
On Friday, the rupee had lost 11 paise to 66.81 against the US dollar on fresh demand for the American greenback from banks and importers.
Cash Transactions Charges Most Retrograde Step: P Chidambaram
The move by some public and private banks to levy charges after certain number of cash transactions at branches is the most retrograde step, former Union Finance Minister P Chidambaram on Sunday said.
After 5 Years, SBI to Charge For Breach of Minimum Balance From April
After a gap of five years, State Bank of India has decided to reintroduce penalty on non-maintenance of minimum balance in accounts from April 1, and revised charges on other services, including ATMs.
Air India to Raise $470 Million for Purchasing Four Boeing 787 Planes
The government-owned Air India is looking to raise short-term loans worth over Rs 3,000 crore to partly fund acquisition of four Boeing 787 planes.
Markets Take a Poll Position, Exit Numbers to Set Stage
Assembly election results this week will decide the stock market fortunes in coming days and exit poll findings on March 9 may set the ball rolling either way, say experts.
FDI in Services Sector up 77.6 Percent in 9 Months of Fiscal Year 2017
Foreign investments in the services sector increased 77.6 per cent to USD 7.55 billion in the first nine months of the current fiscal, helped by government steps to improve ease of doing business.
RBI Governor Urjit Patel Gets Threat Mail, Sender Held in Nagpur
Reserve Bank of India Governor Urjit Patel allegedly received a threat mail asking him to quit the job from a 37-year-old man, who has been arrested from Nagpur, police said on Sunday.
As Rival Snapdeal Hands Out Pink Slips, Flipkart Looks to Increase Hiring
E-commerce major Flipkart is looking to hire 20-30 per cent more people in 2017 compared to last year even as rival Snapdeal hands out pink slips to its employees.
Can't Disclose if Jaitley Was Consulted on Notes Ban: Finance Ministry
The Finance Ministry has refused to disclose whether its boss Arun Jaitley was consulted before the announcement of demonetisation by Prime Minister Narendra Modi on November 8, 2016.
Cautious After 2016, China Trims 2017 Growth Target Down to 6.5%
China on Sunday trimmed its 2017 GDP growth target to "around 6.5 percent" as the world's second-largest economy, already expanding at the slowest pace in a quarter-century, faces an array of challenges.
GST on Track, to be Implemented From July 1, Says FM Arun Jaitley
Unoion Finance Minister Arun Jaitley on Saturday said that the Goods and Services Tax (GST), the new indirect tax regime, was on track and July 1 was going to be its likely date of implementation.
Rupee Slumps 11 Paise to 66.81 Against US Dollar
The rupee turned shaky after a brief overnight recovery and ended lower by 11 paise at 66.81 against the US dollar on fresh demand for the American currency from banks and importers.
India to Lead Global Growth of Smartphone Connections, Says GSMA
India will lead the world in smartphone adoption with a net addition of 350 million connections in 2016-20, says a GSM Association report released in Barcelona.
Sensex Closes Week With a Fall, First in 6 Weeks
The market's first weekly fall in six came after the Sensex on Friday stayed on the side of caution despite deep swings as it failed to completely shake off growing concerns about US Fed action later this month.
Sensex Tumbles 88 Points on Profit-booking, Global Cues
The 30-share Sensex slumped further by 88.05 points, or 0.30 per cent, to 28,751.74 with FMCG, IT, technology, power, bank, auto and capital goods stocks declining by up to 0.83 per cent.
Rupee Depriciates 18 Paise Against Dollar in Early Trade
Yesterday, the rupee had ended higher by 12 paise at 66.70 against the American currency on fresh bouts of dollar selling amid an overall upbeat sentiment following the release of GDP data.
Snap Inc Shares Pop After $3.4 Billion IPO
Snap Inc's in-demand shares opened for trading on Thursday at $24 on the New York Stock Exchange a day after pricing at $17 per share.
RBI Tells Banks to Hold Camps on Digital Payments From April 1
RBI on Thursday asked banks to organise special camps from April 1 to educate public about digitalp ayments through UPI and 99# (USSD) code platforms.
Rupee Rebounds 12 Paise to 66.70 Against US Dollar
The rupee staged a smart rebound after a brief overnight wobble and ended higher by 12 paise at 66.70 against the American currency on fresh bouts of dollar selling amid upbeat sentiment post GDP data release.
Market Changes Course, Sensex Gives up 145 Points
Stocks frittered away a good beginning on Thursday as the Sensex stumbled and lost about 145 points to end at 28,840 after investors moved in to take profit towards the close amid a lower opening in Europe.
Model GST Bill to go For 20 Percent Peak Tax, Slabs Intact For Now
The GST Council has proposed to raise the peak tax rate to 20 per cent, from the current 14 per cent, in the model goods and services tax Bill to preclude the requirement of approaching Parliament for any change in rates in future.
10 Things You Need to Know About New Banking Transaction Rules
For non-home branches, ICICI Bank would not charge anything for first cash withdrawal of a calendar month and Rs 5 per thousand rupees thereafter subject to a minimum of Rs 150.
FDI Policy Easing in Select Sectors in the Works
The government is expected to soon announce relaxations in the foreign direct investment (FDI) policy in certain sectors, including single brand retail.
Pepsi to Lay Off 80 to 100 Workers, Citing Philadelphia Tax
Pepsi says slumping sales from Philadelphia's new sweetened-beverage tax are prompting layoffs of 80 to 100 workers at three distribution plants that serve the city.
Sensex Rises 148 Points to Regain 29,000-mark in Early Trade
The benchmark BSE Sensex surged over 148 points to regain the 29,000-mark in early trade on Thursday as investors and domestic institutions widened bets, tracking rally in global markets.
Rupee Rides on GDP Numbers, up 6 Paise in Early Trade
The rupee edged higher by 6 paise to 66.76 against the dollar in early trade on Thursday after exporters and banks stepped up selling of the US currency.
Growth to slow to 6.4% in January-March Quarter: Moody's
Moody's Investors Service, the US-based rating agency expects that the full impact of demonetisation will reflect in the fourth quarter numbers.
HDFC, ICICI and Axis Banks Resume Charging for Cash Transactions
Banks, including HDFC Bank, ICICI Bank and Axis Bank, on Wednesday began charging a minimum amount of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month.
Promoters to Participate in TCS' Rs 16,000-cr Buyback Offer
Tata Consultancy Services on Wednesday said its promoters intend to participate in its proposed Rs 16,000-crore buyback offer.
Aadhaar Not Needed for Pension Withdrawals for Now: EPFO
Retirement fund manager EPFO on Wednesday said Aadhaar will not be required for withdrawal benefits under the Employees' Pension Scheme for now, but furnishing the 12 digit unique number is mandatory in case of final settlement of pension.
Rupee Breaks 3-day Rally, Down 13 Paise to 66.82
The rupee witnessed a reversal on Wednesday after three days of gains and ended lower by 13 paise to 66.82 against the American currency following fresh bouts of dollar demand from importers.
GDP Data Belies Exaggerated Claims of Note Ban Impact: Jaitley
Buoyed by higher-than-expected GDP growth, Finance Minister Arun Jaitley on Wednesday said a 7 per cent expansion in third quarter belies exaggerated claims of note ban impact on rural economy.
GDP Surprise Takes Market to 6-month High, Sensex Soars 241 Points
Robust GDP data for the December quarter allayed market fears as the Sensex on Wednesday rallied over 241 points to end at about a six-month high of 28,985 amid firm global cues.
Demonetisation to Cut Tax Avoidance, Corruption; Credit Positive: Moody's
Demonetisation will be credit positive for India as it is likely to reduce tax avoidance and corruption, Moody's Investors Service said on Wednesday.
India's GDP Numbers 'Surprising', But Economists Say There is an Explanation
India’s GDP numbers took most people by surprise on Tuesday. But on reflection, some economists are saying that there could be an explanation for the numbers that provoked shock, surprise and skepticism.
Factbox - How RBI is Trying to Tackle its Bad Loans Problem
Reserve Bank of India Deputy Governor Viral Acharya has proposed setting up "bad bank"-type institutions to deal with the $133 billion in stressed assets accumulated by Indian banks after years of reckless lending.
Sensex Recovers 230 Points Post GDP Numbers
The Sensex left its two days of losses behind by recovering 230 points in early session on Wednesday, propped up by fresh buying triggered by positive GDP data for the December quarter amid favourable Asian cues.
Rupee Weakens 13 Paise Against Dollar
The rupee had gained 2 paise to close at 66.69 in an extremely thin and lethargic trade yesterday owing to stray dollar selling form banks and exporters.
'Q3 Growth Negates Negative Speculations About Note Ban Impact'
Elated at the GDP numbers, Finance Ministry today said the 7 per cent growth in the third quarter has negated the negative projections and speculations about the impact of demonetisation on growth.
New GDP Figures Have Economists Surprised, Cautious
The new GDP estimate, which shows demonetisation had little or no impact on the growth trajectory of the country, has prominent economists surprised, while one speculated the growth in financial services thanks to the drive to go cashless may have offset other shortcomings.
Rupee Firms up 2 paise to 66.69
The rupee advanced further by a modest 2 paise to end at 66.69 against the US currency in an extremely thin and lethargic trade owing to stray dollar selling from banks and exporters.
GDP at 7% in 3rd Quarter, Economy Weathers Demonetisation Shock
India's annual economic growth slowed to 7 percent in the three months through December from a revised 7.4 percent expansion in the previous quarter, government data showed on Tuesday.
Country's Fiscal Deficit Breaches 2016/17 Target in January
The country's fiscal deficit in the first 10 months to January was 5.64 trillion rupees ($84.56 billion) or 105.7 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Tuesday.
Sensex Remains Weak Ahead of GDP Data
Market remained on the backfoot for the second straight session on Tuesday ahead of release of GDP data as the Sensex slipped another 70 points to 28,743.
DGCA Examines P&W Engines of IndiGo, GoAir Airbus 320 Neo Planes
Aviation regulator DGCA has started detailed examination of 21 Airbus 320 neo planes of IndiGo and GoAir that are powered by Pratt & Whitney engines, which have been frequently facing technical snags.
GST to Come into Effect From July 1: Shaktikanta Das
The government plans to get the GST Council's approval on iGST (integrated GST), cGST (central GST) and sGST (state GST) drafts at its March 4-5 meeting before the second half of the budget session of Parliament begins on March 9.
Bank Unions go Ahead With Strike, Services Suffer
Unions are also opposed to the proposed labour reforms of the government and outsourcing of permanent jobs in the banking sector. Some of the demands include compensation of employees and officers for extra hours they put in following demonetisation in November and early initiation of next wage revision.
Personal Information Being Sold by âData Brokersâ For Less Than 1 Rupee
India’s IT law does not specifically address the issue of data brokerage and privacy. Data brokerage is still at a very nascent stage in India and the market is dominated by larger international players such as Epsilon, Equifax and Experian that offer more sophisticated data sets, the Economic Times reported.
Sensex Back in Green, Rises 51 Points Ahead of GDP Data
The 30-share index was trading higher by 50.53 points, or 0.18 per cent, to 28,863.41 with the sectoral indices led by consumer durables, capital goods, healthcare, metal, auto and banking trading higher by up to 0.58 per cent.
Rupee Falls 9 Paise Against Dollar in Early Trade
Forex dealers said that month-end demand for the greenback from importers and gains against other currencies overseas as invetors keenly await US President Donald Trump's speech at a joint session of Congress today, put pressure on the rupee.
Amit Singhal out of Uber For Not Disclosing Sexual Harassment Charge
Uber Technologies Inc has asked a senior executive to leave the company for failing to disclose a sexual harassment allegation stemming from his tenure at Alphabet Inc's Google, an Uber spokeswoman said on Monday.
Nasscom President Hopes Trump Administration Will Take "Pragmatic" View on H1B Visa Issue
R Chandrasekhar, the president of the Indian software industry’s lobbying group NASSCOM, has said he hopes the Donald Trump administration takes a “pragmatic” view about the H1B visa issue.
Rupee Hits 3-Month High, up 11 Paise to 66.71
The rupee strengthened further to end at a fresh 3-1/2 month high of 66.71, appreciating by 11 paise on the back of sustained selling of the American dollar by exporters and banks.
SEBI 'Harsh' With Defaulters and I Don't Regret That: UK Sinha
Outgoing Sebi chief U K Sinha on Monday said the regulator has been justly "harsh" with those threatening the integrity of capital markets and he doesn't feel shy about saying that.
Arun Jaitley Opens London Stock Exchange in Special Ceremony
Finance Minister Arun Jaitley on Monday opened the London Stock Exchange in a special ceremony following which he discussed with investors the role of London in developing India's fin-tech ecosystem and delivering infrastructure development priorities.
States' Fiscal Deficit Will Rise to 3.3% in 2017-18: Ind-Ra
The states' fiscal deficit will rise only marginally to 3.3 percent in fiscal year 2017-18 from the expected 3.2 percent in 2016-17, domestic ratings agency India Ratings and Research (Ind-Ra) said on Monday.