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.
Airtel Scraps Roaming Charges on Calls, Data
Also, it said, there will be no bill shocks while roaming overseas daily billing will be automatically adjusted to the price of basic one day pack even for customers who don't buy a roaming pack.
Rupee Gains 17 Paise in Early Trade
Continuing its uptrend, the rupee firmed up by another 17 paise to 66.65 against the US dollar in early trade on Monday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.
Sensex Slides 80 Points as March Series Turns Shaky
The Sensex slumped over 80 points to 28,813 on Monday as the March derivatives series began on a subdued note, mirroring a weak trend in the Asian market.
HSBC Being Probed For Abetting Tax Evasion in India, Other Countries
Tax authorities in India and other countries are probing HSBC Bank, including its Swiss and Dubai offices, for allegedly abetting tax evasion by four Indians and their families, the multinational lender has disclosed.
States Must Adopt Model Bill to Keep Shops Open 24x7: Assocham
However, it said the interests of the workers employed in the shops and small outlets should be protected and they should not be made to work in double shifts without additional benefits. Besides, safety and security of the staff working late hours, particularly women, should be ensured.
Coal India Subsidiary to Buy back Shares worth Rs 1,244 cr
The equity shares proposed to be bought back by miner's subsidiary represent 4.2975 per cent of the existing paid-up capital of NCL.
Won't Settle for Slogans Like 'Indians for India Alone': Arun Jaitley
Finance Minister Arun Jaitley on Saturday said the demonetisation process is almost complete, hailing it as the "smoothest possible replacement" of high denomination currency anywhere in the world.
UBI Only After Withdrawal of Present Schemes: Subramanian
Chief Economic Advisor Arvind Subramanian on Friday said Universal Basic Income (UBI), as proposed in the recent Economic Survey, can be put in place only after withdrawal of the existing welfare projects.
India, ADB Ink $375 Million Loan Pact For Industrial Corridor
India and ADB have signed USD 375 million pact for loans and grants to develop 800-km Visakhapatnam-Chennai Industrial Corridor, which is the first phase of a planned 2,500-km East Coast Economic Corridor.
Demonetisation Sucked in Cash Like Vacuum Cleaner: IMF Official
"While the financial system is expected to weather the currency exchange-induced temporary growth slowdown, the authorities should remain vigilant given the potential further build-up of NPAs and elevated corporate sector vulnerabilities, and ensure prudent support to the economic sectors affected by the currency exchange initiative," the IMF said.
India Likely to be Less Affected by Global Economic Shocks: IMF
"Until demonetisation there was very healthy consumption spending in India, which was basically propelling economic growth. India has an inward domestically demand-oriented economy, which is good when global growth factors are not exactly healthy," he said.
Infosys Seeks Shareholder Nod to Amend Articles of Association
Infosys has sought shareholders' approval to change the company's Articles of Association, which includes a provision for buyback.
India to be Fastest Growing Economy Among G-20 Nations: Moody's
India will be the fastest growing economy among G-20 countries clocking a 7.1 per cent growth in 2017, Moody's Investors Service said on Thursday.
Rupee Regains 14 Paise to 66.82 Against Dollar
The rupee on Thursday staged a smart recovery by gaining 14 paise to close at 66.82 a dollar on fresh selling of the American currency by banks and exporters on the back of weakness of greenback in the overseas market.
Note Ban Impact on Loan, Deposit Growth Significant: Moody's
emonetisation has significantly impacted credit demand and deposit growth of banks but had a mixed effect on asset quality in the third quarter of current fiscal, Moody's Investors Service said on Thursday.
Rupee Gains 5 Paise Against Dollar in Early Trade
The rupee strengthened by 5 paise to 66.91 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market.
Indian Economy Remains a Bright Spot in Global Landscape
The Indian economy is growing strongly and remains a bright spot in the global landscape despite temporary setback due to demonetisation, a senior IMF official has said.
Sensex Pares Early Gains, Ends Below 29,000
The Sensex rose 28 points to end at 28,892.97 on Thursday after early gains were undone by a sell-off amid expiry of derivatives contracts.
WTO's Trade Facilitation Agreement Comes into Effect
The WTO's trade facilitation agreement, which seeks to ease customs norms, has come into effect from Wednesday with its two-thirds members ratifying the pact.
India's GDP Projected to Slow to 6.6% Due to Demonetisation Strains: IMF
India's growth is projected to slow to 6.6 percent in 2016-17 fiscal due to the strains that have emerged in the economy as a result of "temporary disruptions" caused by demonetisation, International Monetary Fund (IMF) said on Wednesday.
Rupee Halts 2-day Winning Run, Down 4 Paise to 66.96
Snapping its two-day rising trend, the rupee on Wednesday lost four paise to end at 66.96 against the US dollar on fresh demand for the American currency from banks and importers.
Incoming SEBI Chief Sent Back to Cadre State for Promotion
The capital markets regulator Sebi's Chairman-designate Ajay Tyagi was on Wednesday sent back to his cadre state, Himachal Pradesh, from his current posting in Finance Ministry, to help him avail benefit of promotion.
Sensex Ends 103 Points Higher on Derivatives Expiry, RIL Rally
The Sensex rose 103 points to end at over five-month high today, spurred by index heavyweight RIL and short-covering ahead of derivatives expiry on Thursday.
I-T to go Easy on up to Rs 5 Lakh Cash Deposits by 70-Plus People
The tax department will not carry out any further verification for cash deposits up to Rs 5 lakh made by people above 70 years of age post note ban, but the limit has been fixed at Rs 2.5 lakh for other individuals.
TCS to Remain Net Cash Positive Despite Rs16K Crore Buyback: S&P
Ratings agency S&P expects IT services major TCS to remain net cash positive even if its Rs 16,000 crore-buyback offer gets fully subscribed.
Reliance Shares Vault to 7-Year High on Jio's Revenue Visibility
Shares in Reliance Industries Ltd (RIL) have raced to a seven-year high, boosted by its announcement to soon start charging for data services offered by its Jio 4G mobile services that have notched up 100 million customers in just 170 days since launch.
No Rs 1000 Notes Now; Govt Asks People Not to Overdraw From ATMs
The government has no plans to introduce Rs 1,000 notes and the focus is on increasing production of lower denomination currencies, Economic Affairs Secretary Shaktikanta Das said on Wednesday.
Sensex Soars 97 Points Ahead of Derivatives Expiry
The Sensex rallied about 97 points to 28,858.30 in the early session on Wednesday, maintaining its uptrend for the fifth day on widespread gains amid covering-up of short positions ahead of the February month expiry in the derivatives segment on.
Rupee Opens Lower by 4 Paise Against Dollar
On Monday, the rupee had gained 9 paise to close at 66.92 per dollar in view of strong foreign capital inflows coupledwith a firm equity market.
SBI Chief Calls For Dedicated Spectrum For Financial Transactions
She said telcos being commercial entities have their objectives to ensure that they can carry voice, data with better clarity and speed and to make profits.
Using RBI Funds to Recapitalise Banks Not a Good Idea: Viral Acharya
RBI deputy governor Viral V Acharya on Wednesday suggested that using a part of the Reserve Bank reserves for recapitalising state-run banks may not be a good idea.
EPFO Introduces Common Form for Different Types of Withdrawal
Submission of Composite Claim Form (Aadhaar)/(Composite Claim form (Non-Aadhaar) duly signed by the EPF subscriber shall be construed as 'self-certification' for the said partial withdrawals, for which no document would be required to be submitted to the EPFO offices, it said.
Rupee Firms up For 2nd Session, up 9 Paise to 66.92
The domestic unit hovered in the range of 67.07-66.90 per dollar during the day.
Google, Microsoft Agree to Crackdown on Piracy Sites
For the first time, global tech giants Google and Microsoft have agreed to tighten up their search engines as part of a crackdown on piracy sites illegally streaming events and films.
Sensex, Nifty End Higher; Axis Bank up on Takeover Talk
The benchmark Sensex closed up 0.35 percent at 28,761.59, its highest close since Sept. 22.
For New Tata Sons Chairman N Chandrasekaran, Voting Comes First
It promised to be a very busy and eventful day for N Chandrasekaran. But casting his ballot took precedence over all his professional engagements, which included taking over as the chairman of the country's largest business house.
Idea, Airtel Share Prices Drop as Jio Announces it Will Match Their Best Selling Plans
Halfway through Mukesh Ambani’s speech at a tech industry conference the share prices of Airtel and Idea started dropping. The stocks were reacting to the news that Jio would match their best-selling plans and offer 20% more data for the same price.
Jio Prime Membership Program: 7 Things You Need to Know
Mukesh Ambani on Tuesday announced a new scheme, Jio prime Membership Program. Here is everything you need to know.
Reliance Jio Announces Tariff Plans, To offer 20% More Data Than Rivals
Reliance Jio will top competitors’ best tariff plans with 20% more data when its free offer ends on April 1, pressing ahead with its strategy of aggressive pricing-led market disruption that has helped the hitherto free 4G mobile service sign up a record 100 million subscribers in just 170 days.
Full Text: Mukesh Ambani Announces Jio Now Has 100 mn Customers
A significant portion of this data is consumed as video… and Jio carries nearly 5.5 Crore hours of video daily on its network. This makes Jio one of the largest mobile video networks globally.
100 mn Jio Customers in 170 Days: Takeaways From Ambani's Speech
Reliance Industries Chairperson and Managing Director Mukesh Ambani on Tuesday said that Jio has breached the 100 million customer mark in 170 days. Also, Jio users consumed over 100 crore GB of data since launch.
India Wants Certainty, Transparency in US Visa Regime: Nirmala Sitharaman
India on Tuesday pitched for certainty in the US visa regime arguing that businesses flourish only in a stable environment.
Air India Puts 2 Dreamliners on Sale to Raise USD 250 Million
The airline would also lease back these two Boeing 787-800s under an operating lease for a period of up to 12 years with a three-year extension option, the airline said in its Invitation of Offers document.
Tatas Will Lead, Not Follow: New Chairman Natarajan Chandrasekaran
Tata veteran N Chandrasekaran on took over as the chairman of Tata Sons, promising to deliver "industry leading" performance in all its businesses.
Rs 1,000 Note to be Reintroduced by RBI and Govt, Not Clear When
The Reserve Bank of India and the government have finalised plans to launch a new series of 1000 rupee notes to replace the ones that were withdrawn, Indian Express reported citing a government official they didn’t identify.
Sensex Climbs up 65 Points in Early Trade
Rising for the fourth straight session, the BSE 30-share barometer gained 64.52 points, or 0.22 per cent, to 28,726.10.
Housing Sales Fall 31%; Launches Dip 40% in December Quarter: Report
Housing sales fell by 31 percent while launches dipped 40 percent in eight major cities during the December quarter, over previous three months, due to market uncertainty post-demonetisation, says a report.
BharatQR Code Launched to Push Less-cash Economy
BharatQR code, the world's first interoperable payment acceptance solution, was launched on Monday as part of efforts to move towards less-cash economy at an "insignificant cost", according to industry members.
Rupee Firms up For 2nd Session, up 9 Paise to 66.92
The rupee on Monday strengthened for the second straight session, gaining by another 9 paise to close at 66.92 per dollar in view of strong foreign capital inflows coupled with firm equity market.
Sensex Soars 193 Points; TCS Zooms 4 Percent
Benchmark Sensex surged 193 points to close at nearly five-month high of 28,661.58 on Monday on robust buying in metal and IT counters amid positive global cues.
Microsoft, Flipkart Announce Strategic Tie-up
IT giant Microsoft on Monday announced a strategic partnership with Flipkart, wherein as a first step, the online retailer will adopt Microsoft Azure as its exclusive public cloud platform.
TCS Board Approves Rs 16,000 Crore Share Buyback
India's largest software services firm TCS on Monday said its Board has approved a share buyback plan of up to Rs 16,000 crore.
Chandrasekaran to Take Over Tata Group Reins on Tuesday
Indian multinational conglomerate Tata group will enter a new era on Tuesday as N Chandrasekaran takes over as chief, hoping to put behind an acrimonious boardroom battle that saw the ouster of Cyrus Mistry as Tata Sons Chairman.
RBI Increases Weekly Cash Withdrawal Limit to Rs 50,000
The Reserve Bank on Monday increased the weekly limit on withdrawal of cash from savings bank accounts to Rs 50,000.
Sensex Falls 40 Points on Profit Booking
The benchmark BSE Sensex faltered in early trade on Monday, declining by over 40 points on profit booking by investors in recent gainers amid mixed Asian cues.
Rupee Drops 4 Paise Against US Dollar
Forex dealers said increased demand for the US currency from importers and the greenback's gains against other currencies overseas, put pressure on the rupee.
Vodafone, Idea Likely to Seal Merger Pact Within a Month
UK's Vodafone and Aditya Birla group firm Idea Cellular are likely to finalise within a month the mega merger deal that will create India's largest telecom firm, according to sources.
Buying Jewellery Over Rs2 Lakh Cash to Attract 1% TCS from April 1
Cash purchases of jewellery will attract 1 per cent TCS (tax collected at source) from April 1 if the amount exceeds Rs 2 lakh, as against the current threshold of Rs 5 lakh.
GST Council Approves Law For Compensating States' Revenue Loss
The GST Council on Saturday approved a law to compensate states for any loss of revenue from implementation of the new national sales tax but deferred approval for enabling laws to next meeting.
Xiaomi Elevates India Head Manu Kumar Jain as Global VP
Chinese handset maker Xiaomi has elevated its India Head Manu Kumar Jain to a global role as its Vice President.
Aditya Puri of HDFC Bank Says E-wallet Players Have No Future
HDFC Bank chief Aditya Puri on Friday said such companies which hold on to customers through cash-backs are loss-making and have "no future".
Vodafone Brings in Former India MD to Work on Merger With Idea
British telecom major Vodafone has brought in Martin Pieters, former Managing Director and CEO of its Indian arm, to work on proposed merger of Vodafone India with Idea Cellular, sources said.
Is RBI's Inflation-targeting Mandate Hurting India's Economic Growth?
A central bank, like the Reserve Bank of India, is the guarantor of the country’s money, banking system and financial stability.
In Conversation With RBI Governor Urjit Patel
In an exclusive interview to Network 18, Reserve Bank of India Governor Urjit Patel argued in favour of Prime Minister Narendra Modi's demonetisation drive and said it is important to grow a thick skin in the business" of being a central bank chief.
Demonetisation has Impacted PepsiCo's India Business in Q4: Nooyi
The demonetisation drive in India had a "significant impact" on PepsiCo's business in the country in the last quarter of 2016 and there are still "lingering effects" of it, according to the food-and-beverage giant's India-born CEO Indra Nooyi.
Over 10 Lakh Haven't Explained Source of Income to I-T Dept
Over Rs 4.5 lakh crore worth of suspicious deposits by 18 lakh people are under "verification" by the I-T department, which will send "non-statutory" letters to those who have not responded to SMS and e-mail queries.
Don't Blame Execution if Idea Itself is Wrong: Rajiv Bajaj on Demonetisation
With the adverse impact of note ban continuing to hamper two-wheeler sales, Bajaj Auto Managing Director Rajiv Bajaj on Thursday said the idea of demonetisation was itself "wrong" and it is incorrect to blame only the execution side of it.
No Major Impact on Indian Banks After Brexit, Says SBI UK Chief
There will be no major impact on Indian banking operations in the UK post-Brexit and the British capital will continue to be the global "financial hub", according to the UK chief of State Bank of India.
Normalcy in Currency Operations Restored, Says Arun Jaitley
Finance Minister Arun Jaitley on Friday said normalcy has been restored within few weeks of the unprecedented decision to recall 86 per cent of the currency in circulation and there is no shortage of notes in market.
Sensex Bolts Away, Jumps 425 Points on Inflows, Nifty Tops 8,800
For the second day, the Sensex broke free Friday, shooting up nearly 425 points, and the Nifty wrested back control of the 8,800-mark in early session on substantial gains across the spectrum, driven by increased foreign capital inflows.
Rupee Falls Further, Down 8 Paise Against Dollar
The rupee came down by a further 8 paise to 67.15 against the US currency in early trade on Friday after importers chased the dollar.
Operation Clean Money: Nine Lakh Accounts Put Under 'Doubtful' Category
Nine lakh accounts of 18 lakh scrutinised by the I-T Department under Operation Clean Money put in 'doubtful' category.
TCS Shares Gain Nearly 3% on Share Buyback Plan
Scrip of Tata Consultancy Services (TCS) on Thursday rose by nearly 3 percent after the said its board will meet next week to consider the share buyback.
For 1st Time, Chinese Smartphone Cos Push Indian Firms Out of Top 5
For the first time, no Indian manufacturer is in the top 5 firms in the smartphone market. The list is dominated by Samsung and Chinese companies, which have crowded out the likes of Micromax, Intex and Lava.
SBI, Associate Banks Stocks Surge After Cabinet Okays Merger
Shares of SBI and its associates rose sharply by as much as 13.5 percent on Thursday after the Cabinet approved their merger, a step aimed at strengthening the sector through consolidation of public banks.
Data is the New Oil: What Mukesh Ambani Said at Nasscom
Reliance Industries Chairman Mukesh Ambani made a strong pitch for data and information technology at the Nasscom India Leadership Summit on Wednesday.
Sensex Recovers 109 Points on Global Cues
The market benchmark BSE Sensex recovered over 109 points in early trade on Thursday on widespread gains amid a firming trend at other Asian bourses following another record closing of the US markets.
TCS Board to Consider Share Buyback Next Week
India's largest software company Tata Consultancy Services (TCS) on Thursday said its board will meet next week to consider share buyback.
Nasscom Defers Annual Growth Forecast to May
Gurnani maintained that for the industry, digital revenue is growing at 1.5 times faster and now constitutes 14 percent of the total revenue stream.
Nasscom Summit: H1-B Visa Worries 'Hyped up', Says TCS Chief
In fact, he said these are exciting times for the IT industry given the exponential demand for technology as every business reorients itself.
Rupee Drops 7 Paise Against US Dollar
The rupee depreciated 7 paise to 66.97 against the US dollar in early trade on Thursday on fresh demand for the American currency from importers and banks.
Verizon Close to Yahoo Deal, Price Cut of $250-350 million: Source
Verizon Communications Inc <VZ.N> is close to a revised deal to buy Yahoo Inc's <YHOO.O> core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.
Cabinet Clears Decks For Merger of SBI and 5 Associate Banks
Seeking to create a global-sized bank, the Cabinet on Wednesday gave the go-ahead to the merger plan of SBI and its five associates, a step aimed at strengthening the banking sector through consolidation of public banks.
UK Workers Back Tata Steel Rescue Plan
Thousands of Tata Steel workers in the UK voted overwhelmingly in favour of a rescue plan put forward by the Indian steel giant that will secure their jobs.
Mukesh Ambani Says Trump May be Blessing in Disguise for IT Sector
Industrialists and entrepreneurs stand out from the crowd because of their ability to spot opportunities in challenges.
Mukesh Ambani: Data the 'new oil', will trigger fourth industrial revolution
Reliance Industries rode the commodities boom that started in the 1980s but Mukesh Ambani has no qualms in admitting that data is the greatest natural resource today.
Sensex Trips 69 Points in Early Trade on Weak Corporate Earnings
Brokers said that apart from profit-booking in recent gainers by investors, disappointing earnings by some bluechips companies like Tata Motors and Sun Pharma dampened sentiment.
Rupee Slips 2 Paise Against US Dollar
Forex dealers said, the US dollar's gains against some currencies overseas following upbeat remarks on the US economy by Federal Reserve Chief Janet Yellen and a lower opening in the domestic equity market put the rupee on the back foot.
Amazon to Set up Two New Facilities in Coimbatore, Noida
Amazon Development Centre on Tuesday announced its plans to open two customer service facilities -- one each in Coimbatore and Noida in April and June, respectively.
As Inflation Shoots up, India Inc Seeks Lower Lending Rates
Industry chamber Assocham urged the policymakers to take corrective measures to address the situation of rising interest rates in future and limited capacity of industries to invest in future.
India's Wholesale Price Inflation Rises in January
The wholesale inflation for food articles declined by (-)0.56 per cent during the month under review from (-)0.70 per cent in December and 6.46 per cent recorded for January, 2016.
Sensex Ends Flat as Auto, Pharma Stocks Drag
Market benchmark Sensex snapped its three-day winning run on Tuesday after slipping 12 points to end at 28,339 on sell-off in auto and pharma stocks amid muted global cues.
Rupee Recovers 7 Paise Against US Dollar
Yesterday, the rupee had dropped by 14 paise to close at 67.02 on continued demand for the dollar coupled with its growing strength overseas.
RBI Currency Press Refuses to Disclose Printing Capacity
The currency note printing press of Reserve Bank of India has refused to disclose its printing capacity, even as similar information is available on its website.
Elected by Shareholders, Have a Job to do: Infosys Chairman Defends Sikka's Pay Hike
With a clutch of high-profile co-founders gunning for the Infosys board, Chairman R Seshasayee on Monday appeared defiant in the face of biggest crisis at India's second-largest IT firm, saying he has been elected by shareholders and has a job to do that he will do.
Hiring in Infosys Drops For The First Time in 33 Years Since Its Existence
Jayesh Ranjan, Secretary of IT Department, quoting Murthy, said the Bengaluru-based IT bellwether had recruited about 6,000 people so far in the current fiscal as against 20,000 to 25,000 every year.
Note Ban Pulls Prices Down; January Retail Inflation at 3.17%
Impacted by note ban, retail inflation fell to multi-year low of 3.17 percent in January mainly on account of declining prices of food items including vegetables and pulses.
Rupee Drops by 14 Paise to Close at 67.02 Per US Dollar
The Indian rupee dropped by another 14 paise to close at 67.02 per dollar on persistent dollar demand from banks and importers coupled with higher dollar in the overseas market.
Sensex Ends Marginally up; IT, Metal Save The Day
The 30-share Sensex resumed higher at 28,450.42 and advanced to 28,458.80 following initial buying by investors and sustained foreign fund inflows.
Have Warm Relationship With Murthy: Infosys CEO Vishal Sikka
"It takes away our attention but underneath that, there is a very strong fabric that this company is based on. And it is a real privilege for me to be its leader," he added.
Rupee Slips 10 Paise Against Dollar in Early Trade
Besides, industrial production contracting to a four-month low of 0.4 per cent in December too weighed on the rupee.
'Demonetisation Negative for Auto Asset Backed Loan in Short Term'
Demonetisation has negatively impacted the performance of Indian auto asset backed loans in the short term and the effect will last until March, Moody's Investors Service on Monday said.
Sensex Gains 125 Points in Early Trade Despite Weak Economic Data
The benchmark BSE Sensex extended gains for the third straight day by surging about 125 points, and the NSE Nifty again reclaimed the 8,800-level in early trade on Monday despite disappointing macroeconomic data.
Banks Rush to Buy Cyber Security Cover as Digi Payments Rise
At a time when cyber threats are on the rise for banks for increasing cashless transactions and effects of demonetisation, insurers see rise in demand for cyber insurance and cyber liability insurance, in particular.
Sebi Keeping Close Watch on Infosys Developments
As IT giant Infosys remains embroiled in differences between its founders and the top management, markets regulator Sebi is keeping a "close watch" on all the developments with a "special focus" to ensure that minority investors' interest is safeguarded.
Infosys CEO Vishal Sikka to Address Investors on Monday
Amid the ongoing conflict between Infosys's Board and its founders, its CEO Vishal Sikka is scheduled to meet institutional investors on Monday at an event in Mumbai.
Chidambaram Asks Jaitley to Cut Indirect Taxes Immediately
Former finance minister P Chidambaram, who feels the Union Budget for 2017-18 is "aimless and directionless", says the government should immediately cut indirect taxes across the board to revive the sagging economy.
UBI Will be Set in Motion Over Next 1 Year, Hopes Arun Jaitley
Finance Minister Arun Jaitley on Saturday hoped that the Universal Basic Income (UBI) scheme mooted by the Economic Survey will be implemented over the next one year in some parts of the country at least on experimental basis.
Reply Date for I-T Queries on Deposits Extended Till February 15
Government on Saturday extended the window for assessees receiving SMS or e-mail queries from the income tax department on cash deposits post demonetisation by 5 days to February 15.
Sebi Evolving in Tune with Market Needs, says Arun Jaitley
Emphasising that Indian securities market has seen significant developments, Finance Minister Arun Jaitley on Saturday said the regulator is evolving in accordance with the needs of the economy and markets.
Note-Ban Impact: IIP Contracts to 4-Month Low of 0.4% in December
Impacted by demonetisation, industrial production contracted to four-month low of 0.4 per cent in December with consumer durables output plummeting by over 10 per cent and an overall decline in manufacturing.
Disappointing Q3, Profit Booking Drag Equities Indices Lower
Equities markets ended on a flat-to-positive note on Friday as disappointing quarterly results, caution ahead of the release of a key macro-economic data point and profit booking capped gains.
N Murthy Says Sikka Doing Good Job, Board Actions Could be Better
NR Narayana Murthy, the founder of Infosys in the middle of a storm about corporate governance practices at the company, told CNN-News18 that Chief Executive Officer Vishal Sikka is doing a good job, but the actions of the board could have been better.
Don't Get Distracted by "Eardrum Buzz", Infosys CEO Vishal Sikka to Employees
Infosys founder Narayana Murthy today told the Economic Times in an interview that corporate governance at the firm is down amid concerns about pay hikes and the severance packages of the top management. Murthy said that such payments raised doubts whether the company is using them as hush money to hide something.
Infosys Board Member Kiran Mazumdar Shaw Backs CEO Sikka
Kiran Mazumdar Shaw, an independent director on the board of Infosys, has said that the controversy engulfing India’s second largest IT services firm is “unnecessary” and has backed CEO Vishal Sikka from an attack by founder Narayana Murthy.
Sensex Climbs 126 Points, Nifty Breaches 8,800-mark
BSE benchmark Sensex surged over 126 points and NSE Nifty reclaimed the 8,800-level in early trade on Friday as domestic investors and foreign funds indulged in sustained buying ahead of key industrial output numbers to be released later in the day.
Rupee Furthers Rally, up 3 Paise in Early Trade
The local currency had ended 34 paise higher at a fresh 3-month high of 66.85 against the dollar.
Rift Between Infosys Founder Narayana Murthy and Management
Trouble is brewing in Infosys with founder Narayan Murthy raising some big questions over how the management of the IT giant is functioning.
Infosys Denies Governance Lapses, Rift Between Founders, Board
Mired in controversy centering around differences between its founders and the management, Infosys today denied any governance lapses and emphasised that its board is "fully aligned with the strategic direction" of CEO Vishal Sikka.
Govt Hopeful of Passing GST Bills in 2nd Leg of Budget Session
Government is hopeful of getting the supporting legislations of Goods and Services Tax (GST) passed by Parliament in the second phase of the Budget session for rolling out the new indirect tax regime by July.
Vijay Mallya Was Not Given a 'Rupee Benefit' Under Modi Govt: Arun Jaitley
Insisting that Vijay Mallya was not given even "a rupee benefit" under the Modi government, Finance Minister Arun Jaitley on Thursday said loans were reportedly given to the businessman during the previous UPA rule through intervention of the North Block, a reference to the Finance Ministry.
Tata Steel UK to Sell Specialty Steels to Liberty House For Rs 840 Crore
Global giant Tata Steel on Thursday said it has inked a pact to sell its Specialty Steel business that employs 1,700 people to Liberty House Group for 100 million pound (about Rs 840 crore).
Sensex Edges up in See-saw Trade Ahead of Macro Data
Stocks drove into consolidation mode on Thursday in the absence of fresh triggers as the Sensex remained marginally up to close at 29,330 ahead of release of key macro data on Friday.
Infosys Says CEO Vishal Sikka's Pay Hike in Company's Interest
The Bengaluru-based firm said it has made "full disclosures" on all developments.
Kotak and Axis Bank Term Merger Speculations as Baseless
"A merger deal is being explored by the shareholders of the two banks. Merger would unlock huge synergies, as Kotak Bank has a strong corporate banking franchise while Axis is strong on the retail front, the report quoted a fund manager as saying.
Sensex Rebounds 173 Points, Nifty Tops 8,800 in Early Trade
After two sessions of losses, the benchmark Sensex recovered almost 173 points and the NSE Nifty retook the 8,800-mark in early trade on Thursday on fresh spell of buying by participants.
Rupee Zooms Past 3-month High in Early Trade, up 24 Paise
Steady on a recovery path, the rupee on Thursday went past its three-month high in early trade to 66.95 against the dollar on sustained selling of the American currency by exporters and banks.
Scope For More Rate Cuts by Banks, Says Urjit Patel
Asserting that there is more scope for banks to lower the lending rates, the Reserve Bank on Wednesday virtually put the ball in the government's court to ensure better transmission of policy rate reductions by fast-tracking bank recapitalisation and NPA resolution.
Junked Notes Deposit Data to be Revealed After June, Says RBI
Over a month after the end of 50-day demonetisation period, the RBI on Wednesday said it is reconciling data on junked 500 and 1,000 rupee notes with physical cash and the “final numbers” will be divulged after June 30, the day when all windows for depositing old notes will be closed.
NSE Appoints IDFC's Vikram Limaye as its New Chief
Leading stock exchange NSE on Wednesday said it has appointed IDFC chief Vikram Limaye as its new Managing Director and CEO -- nearly two months after the sudden exit of Chitra Ramkrishna from the top post.
Sensex Ends Lower Post RBI Policy Review, Banks Hit Hard
RBI's decision to keep rates unchanged caught the stock markets off-guard on Wednesday with a sharp plunge in the Sensex within minutes of the policy announcement amid a heavy pounding of bank stocks, but a quick recovery saw the index limiting its losses at just 45 points.
Withdrawal Limit Up From Rs 24,000 to Rs 50,000; No Limit From March 13
March 13 may be more than a month away, but it will be an eagerly awaited date. Cash withdrawal limits from ATMs will finally be lifted on that date. Oh, and the RBI on Wednesday kept its benchmark interest rate unchanged.
RBI Says Economy will Grow 7.4% Next Year, Leaves Interest Rate Unchanged
On November 8 the Prime Minister announced that the government was pulling out 500 and 1,000 rupee banknotes, 86% of the cash in circulation, in order to rein in counterfeit currency and smoke out black money. The move disrupted the economy, including a fall in private consumption and investment.
Tax Officers to Maintain Digital Records of Summons, Notices
Reducing discretionary powers of taxmen, the income tax department has asked its field officers to maintain digital records of summons, notices and special audit ordered by them.
Rio Tinto Relinquishes Control of Bunder Diamond Project in MP
The mining major had in 2016 wished to disassociate itself from the project as part of its efforts to ‘conserve cash and cutting costs’.After recovering diamond reserves in Bunder in the year 2004, the Australian company had inked an MoU with Madhya Pradesh government for the development of the project, which according to the company estimates required investment of Rs 2,200 crore.
What to Expect From RBI's All Important Monetary Policy Meeting
The central bank’s monetary policy committee, comprising Governor Urjit Patel and five other members will take a call on Wednesday on whether the key interest rate of the Indian economy, called the repurchase rate, ought to be cut or not. But, most financial analysts say it will be a tough call.
Debit Card Charges May Decline Further to Promote Digital Economy: Jaitley
These charges have been introduced for the period from January 1, 2017, and will be applicable till March 31, 2017.
Policymaking Like Driving in Rain With Fogged Up Windows: Raghuram Rajan
Rajan said that in an era of widespread democracy one cannot have a system which works only for some, and not for others. “The markets need political support. We need to further that debate. And Chicago has always played an important role in that debate. We need a better solution, and that is part of what I hope to think about,” he said.
Arun Jaitley to Address RBI, Sebi Boards on February 11
Jaitley, who presented the Budget on February 1, is likely to inform the boards of both the regulators about various financial sector reforms announced including creating a six-member Payments Regulatory Board in the RBI, headed by its Governor, as part of bringing about structural reforms in the payment eco-system.
Sensex Slips 25 Points on Profit-booking, Global Cues
Besides, caution prevailed ahead of RBI monetary policy review tomorrow which cast a shadow on sentiments, they added.
Rupee Falls 13 Paise Against Dollar in Early Trade
The US dollar's gains against some currencies overseas and a lower opening in the domestic equity market put the rupee on the back foot, forex dealers said.
Sebi Asks Top 500 Listed Cos to Adopt Integrated Reporting
Markets regulator Sebi on Monday asked top 500 listed companies to voluntarily adopt integrated reporting framework from next financial year.
Rs 10,000 Crore in Budget to Clear Fertiliser Subsidy Dues: Ananth Kumar
To reduce the burden of fertiliser subsidy backlogs, a special banking arrangement of Rs 10,000 crore has been approved in this Budget, Union minister Ananth Kumar told media persons on Monday.
Rate of Unemployment on the Rise, Govt Admits in Rajya Sabha
The Opposition's allegations aside, the rate of unemployment is actually rising in the country, especially among the backward classes, the government admitted in the Rajya Sabha on Monday.
Cyrus Mistry Voted Out as Director by Tata Sons Shareholders
Ousted Tata Sons Chairman Cyrus Mistry was on Monday removed as director of the company with shareholders voting in favour of his removal with "requisite majority".
Rate Hopes Spur Budget Rally, Sensex Soars to 4-month High
The Budget-induced optimism got a leg to stand on as the Sensex on Monday pushed higher for the fourth day by scoring 199 points to close at 28,439 — a 4-month high — after hopes built up that RBI may lower rate at its policy meet on Wednesday.
Rupee Dream Run Continues, Rises 10 Paise Against Dollar
On Friday, the rupee continued its dream run against the US currency and closed at a fresh 2—1/2 month high of 67.31 by rising six paise on heavy dollar unwinding by speculative traders and exporters.
Steel Sector Facing Tough Business Environment, Says SAIL
State-run Steel Authority of India Ltd (SAIL) on Sunday said it has identified five core areas, including optimisation of new assets utilisation, to turn ongoing challenges into opportunities.
RBI Expected To Hold Interest Rates at Tuesday's Review
Industry chamber FICCI, has said that the RBI is likely to maintain status quo in the upcoming monetary policy and cut rates in the first half of the next fiscal beginning April 1.
TCS CEO Chandrasekaran Did Not Attend RBI Pre-note Ban Meet
TCS CEO Natarajan Chandrasekaran was one of the two directors who did not attend the November 8 meeting of the RBI's all-powerful Central Board that was called within a day of government's "advice" to the central bank to consider junking old 500 and 1000 rupee notes.
KPMG India Appoints Arun Kumar as Chairman and CEO
Leading professional services firm KPMG India has selected former US government official Arun M Kumar as its new Chairman and CEO.
'Penalty of Equal Amount For Receiving Cash Over Rs 3 Lakh'
In a bid to check generation of black money, a steep penalty awaits those accepting cash in excess of Rs 3 lakh, beginning April 1, to settle any transaction.
RBI May Hold Rates This Year After 25 Bps Cut Next Week: Nomura
The Budget is positive for the medium-term inflation outlook which may lead to a 25 bps rate cut at the monetary policy meet next week, but RBI is expected to keep it on hold for the whole of 2017, says a report.
Deutsche Bank Says 'Sorry' in Full-page German Newspaper Ads
Deutsche Bank CEO John Cryan has apologised in full-page newspaper ads for misconduct that has cost the company billions.
Only 2% of India GDP Comes from Personal Income Tax, Says Revenue Secretary
Finance Minister Arun Jaitley, in his second Budget in February 2015, had announced reduction of the corporate tax rate to 25 per cent from 30 per cent in a phased manner over the next four years starting 2015-16, accompanied by fewer exemptions.
Economy to Grow More Than 7% Next Fiscal: Shaktikanta Das
Stepping up the growth pitch, Economic Affairs Secretary Shaktikanta Das on Saturday expressed confidence that the economy will grow upwards of 7 per cent next fiscal.
Is Budget 2017 a #Budget4Women? Not Really
There is little clarity as to what is being done about the remaining 1130 crores, its utilisation and the actual results we are seeing on the ground and now, add to this a figure of an additional `28 crores.
Demonetisation Hits January Services Growth
Impacted by the recent demonetisation measure, India's services sector contracted for the third successive month in January, revealed key macro-economic data on Friday.
Sanjeev Sanyal Appointed Principal Economic Adviser
Sanyal will work under the Department of Economic Affairs.
Fitch Says Budget Targets Achievable, Signals Gradual Reforms
Most of the fiscal and revenue targets set in the Budget are achievable and it reaffirms the government intent of gradual fiscal consolidation apart from signalling continued commitment to broad-base the reform agenda with a greater focus now on widening the tax base, says the global rating agency Fitch.
Budget Maintains Balance Between Governmental Spending And Fiscal Prudence: Arun Jaitley
Constrained by the need for fiscal prudence, Budget 2017-18 continues on the path of fiscal consolidation without compromising on India's public expenditure, Finance Minister Arun Jaitley said on Friday.
Sensex Takes Breather From Post-Budget Rally, Slips 36 Points
The benchmark Sensex took a break from its two-day post-Budget rally in late morning trade, slipping 36.35 points amid bouts of profit-booking in key front line shares of consumer durables, auto, IT and FMCG sectors.
Rs 3,700 Crore Noida Fake Like Scam: How Lakhs Lost Their Money
At Rs 3,700 scam, it's turning out into one of India's biggest online scams. Noida Police have charged a company called Ablaze Info Solutions with duping tens of thousands of gullible subscribers by adding them into a money-chain like business model
Historic Moment: BSE Share Lists at Rs 1089 on NSE, Up 35% Over Issue Price
Bombay Stock Exchange (BSE) created history on Friday as its shares listed at Rs 1089 per share on the National Stock Exchange (NSE), up 35 percent over its issue price of Rs 806.
Sensex Takes Breather From Post-Budget Rally, Slips 36 Points
The benchmark Sensex took a break from its two-day post-Budget rally in late morning trade, slipping 36.35 points amid bouts of profit-booking in key front line shares of consumer durables, auto, IT and FMCG sectors.
Indian I-T Leaders to Lobby With Trump Officials on H-1B Visas
India's software services industry is concerned about a bill introduced in the US Congress.
Sensex Builds on Gains, up 54 Points in Opening Trade
The benchmark BSE Sensex made a decent start climbing 54 points to 28,281 in opening trade on Friday on sustained buying by investors amid foreign fund inflows and mixed Asian cues.
Rupee's Good Run Continues, Gains 4 Paise Against US Dollar
On Thursday, the rupee had surged by 10 paise to close at a nearly two-month high of 67.37 on sustained dollar unwinding from exporters and banks amid weak overseas trend.
Budget Criticised by Dalit, SC/ST Rights Activists
11 new schemes for SC and 8 for ST have been introduced in 2017-18, said activist.
Indian IT Companies Need to Stop Using H1-B Visas: Narayana Murthy
Indian software companies need to stop sending people on H1-B visas and focus on local hiring in the US, Infosys co-founder N R Narayana Murthy said.
Deposits in Lakhs Made Post-note Ban Under Tax Scanner: Officials
The initial phase of Operation Clean Money involves e-verification of large cash deposits made during November 9 to December 30, 2016.
'Highest-ever' MGNREGA Outlay is Only 1% Rise: Labour Activists
The rural scheme promising minimum 100 days' employment every year -- has failed to impress workers rights groups.
Budget 2017: Where Does the Money Come From, What is it Spent on
As the budget is a financial statement about the government’s income and expenditure. Here are the details of where does the money come from and on what is it spent.
NABARD Sanctions Rs 157 Cr Loan to Haryana For Water Project
NABARD has sanctioned Rs 157 crore loan to the Haryana govt for implementation of a project for augmentation of drinking water supply scheme in 84 villages.
Sensex Closes at 4-month High as Budget Rally Continues
The Budget rally entered the second day on Thursday after the Sensex closed at nearly a 4-month high of 28,227, driven by healthcare and IT stocks amid mixed global shares.
Ex-Tata Sons Exec Madhu Kannan to Join Uber as CBO India & EMs
Cab aggregator Uber on Thursday said it has roped in former Tata Sons executive Madhu Kannan as Chief Business Officer, India and Emerging Markets.
Union Budget 2017: Health Sector Largely Ignored, Says Dr. Amir Ullah Khan
Having noted that global financial headwinds, a slowdown of the world economy and a potential rise in oil prices may put the domestic economy in some stress, Finance Minister Arun Jaitley, while presenting Union Budget for 2017-18 on Wednesday assured that India will continue to outperform most developing economies. The fact that India is now the sixth largest manufacturing economy and FDI grew by 45 percent, bodes well for the next financial year.
Opinion | When You Can't be Brave, Try Horlicks Budget
This is a Horlicks budget – its lack of real taste is balanced by its lack of real substance. This was alas also the last budget where this government could have done something really different; by budget time next year, everyone will be thinking elections.
Smoking Costs Nearly 2% of World's GDP, Tobacco Control Measures Needed
Smoking consumes almost six per cent of the world's total spend on healthcare and nearly two per cent of global GDP, a new research has found.
Health Budget 'Unclear' and 'Under Funded', Say Experts
Even as Finance Minister Arun Jaitley allocated Rs 48,853 crore to the health sector, and assured of adding 5,000 post graduate medical seats every year, health experts and hospital owners called the health budget "unclear" and "under funded".
Sensex Slips 51 Points, NSE Nifty Below Key 8,700-mark
After Wednesday's strong momentum, powered by the Budget proposals, the benchmark BSE Sensex fell about 51 points in initial trading on Thursday due to a rush to take profit amid weak Asia cues.
Rupee Ticks up 5 Paise as Dollar Selling Continues
Looking good for the seventh session, the rupee advanced another 5 paise to 67.42 against the dollar in early trade on Thursday as there was no let-up in the selling of the American currency by exporters and banks.
Budget 2017-18: Govt Plans National Oil Giant to Take on Global Rivals
Government plans to form a giant national oil company by combining other state-owned firms, finance minister Arun Jaitley said on Wednesday to expand its foreign presence to meet growing domestic fuel demand.
Union Budget 2017: Rahul Bhasin On Allocation Of Capital
Rahul Bhasin, Managing Partner, Baring Private Equity Partners, Pvt Ltd. shared his views on Budget 2017 with News18.com saying that Finance Minister Arun Jaitley's decision to prioritise allocation of capital in Budget 2017 is commendable and lauded him for talking about linking outlays with outcomes.
Union Budget: Vijay Thadani On How It Will Impact The Education Sector
Vijay Thadani, Vice Chairman and MD, NIIT Ltd., talks to News18.com about the announcements made by Finance Minister Arun Jaitley on the education sector as a part of Union Budget 2017. Welcoming the announcements, he said it was time that attention shifted to quality of education which he believes is the need of the hour. Lauding the move to promote technology and the use of innovation at the secondary school level, he believed the steps to be beneficial for the education sector.
Union Budget 2017: Nothing To Get Excited About, Says Shashi Tharoor
Reacting to Union Budget 2017 presented by Finance Minister Arun Jaitley, Congress MP and former Union minister Shashi Tharoor told News18.com that he did not find anything extraordinary in the budget to get excited about and the agricultural policies were just a continuation of the UPA schemes. Expressing disappointment , he said that no measure has been announced to battle the grave issue of black money demonetisation.
Top honchos Welcome Budget 2017, Say It's 'Progressive' and 'People Friendly'
Business honchos on Wednesday mentioned that the budget was comprehensive in addressing the issues of the citizens and industry and meeting their expectations.
Vivek Gupta On How Budget 2017 Deals With The Impact Of Demonetisation
Vivek Gupta, Partner, BMR Advisors, hopes public spending to push up aggregate demand and ancillary private investment in the economy and is of the opinion that the largesse is investment focused and not tax focused.
Union Budget: Gokul Chaudhri Calls It A Kick Off Budget For Digital Economy
Gokul Chaudhry talks about equalisation levy on the digital industry, lauding the attempt to move towards a cashless economy which encourages digital space. Explaining how the small traders could benefit from the move of reducing presumptive taxeation for digital medium. he sheds light on how the fiscal framework will push the country towards a digital economy.
Remember The Dec 31 Address by Modi? It Was Worth Rs 4 Lakh Crore
CNN-News18 looked at the promises in the speech and matched it with the corresponding allocations in the budget documents.
Captains of Indian industry Speak on Budget 2017
Indian industry stakeholders have hailed the Union Budget 2017-18, especially the measures announced by Finance Minister Arun Jaitley for infrastructure push, affordable housing and expansion of the BharatNet project.
Union Budget 2017: Rahul Bajaj's Analysis of Fiscal Deficit Target
Finance Minister Arun Jaitley said on Wednesday the Union Budget for 2017-18 will push growth, promote digital economy and bring transparency in political funding.
Cigarettes Got More Expensive, Booking Train Tickets Online Got Cheaper
News18 brings you a list of items that you will have to shell out more money for and some that got cheaper.
From 'Living Monument of UPA Failure', Has MNREGA Become PM's Fav Tool?
Prime Minister Narendra Modi, in 2015, referred to it as a “living monument” of the failure of the previous UPA regime, yet the flagship job guarantee scheme NREGA figured majorly in Arun Jaitley’s Budget as he gave it one of its biggest allocations ever.
Govt Proposes Payments Regulatory Board in RBI
Finance Minister Arun Jaitley today proposed creation of a six-member Payments Regulatory Board in the RBI, headed by its Governor, as part of bringing about structural reforms in the payment eco-system.