Business Updates

FinMin
FinMin Refutes Reports Of Alleged Black Money Held By Indians In Switzerland

The Union Finance Ministry on Saturday said that increase in deposits of Indians in Swiss Banks could be on account of an increase in business of Swiss bank branches located in India and raised Inter-bank transactions, rather than due to an increase in alleged black money held by Indians in Switzerland.

RBI
RBI Allows Centrum To Set Up Small Finance Bank, Paves Way For Takeover Of PMC Bank

Paving the way for takeover of crisis-ridden Punjab and Maharashtra Cooperative Bank (PMC), the Reserve Bank of India on Friday granted in-principle approval to the Centrum Financial Services to set up a small finance bank.

Petrol Hike
Hiked Again, Petrol Nears Century Mark Pan-India

Fuel prices increased again across the country on Friday adding more misery to the common man's woe, as he already grapples with rising food prices amid shrinking income.

TVS Motor Launches TVS iQube Electric At Rs 1.15L In Chennai
TVS Electric Scooter iQube Launched, Priced At 1.15 Lakh In Chennai

The electric scooter TVS iQube Electric, an urban scooter powered by an advanced electric drivetrain at a price of Rs 115,218.

Indian-Rupee1
Rupee Slips 33 Paise To 73.65 Against US Dollar In Early Trade

The Indian Rupee started on a weaker note this Thursday against the greenback as the US Dollar surged higher after the Fed's hawkish statement, Reliance Securities said in a research note.

Sensex Tumbles 599 Pts, Gold Declines Rs 217
Sensex, Nifty Fall From Record Highs; Gold Dips Marginally By Rs 48

The 30-share BSE index ended 271.07 points or 0.51 per cent lower at 52,501.98 on Wednesday. Meanwhile, gold dipped marginally by Rs 48 to Rs 47,814 per 10 gram

Petrol
Fuel Price Hiked Again; Petrol Nearing Century Mark Across Country

Fuel prices increased again across the country on Wednesday adding more misery for the common man already grappling with rising food prices amidst shrinking income.

Coal India To Cut Manpower By 5% Annually For Next 5-10 Years
Coal India To Cut Manpower By 5% Annually For Next 5-10 Years

The public sector major mentioned: "Attrition of manpower: 5 per cent reduction in manpower annually for the next 5-10 years (FY20 base of 2,72,445 employees)," among other cost cutting measures.

FM Sitharamans Comment On Cryptocurrency Brings Relief To Industry
FinMin Notifies Concessional GST Rate On COVID-Related Items, Services

The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, on June 12, had slashed tax rate on COVID drugs such as Remdesivir and Tocilizumab as well as on medical oxygen, oxygen concentrators and other COVID essentials.

Sensex Rallies 848 Pts; Gold Rises By Rs 348
Sensex, Nifty Climb New Record Highs

The key Indian equity indices continued their record run on Tuesday.The BSE Sensex touched a fresh high of 52,836.31 and the Nifty50 on the National Stock Exchange hit an all-time high of 15,889.60 points.

Sensex Posts Worst Day In 10 Months, Sinks 1,940 Pts; Rupee Tanks 104p Against USD
Sensex, Nifty Scale Fresh Peaks; Gold Declines Rs 464

Equity benchmark Sensex rose 77 points to close at its all-time high on Monday, while the 30-share BSE index ended 76.77 points or 0.15 per cent higher at 52,551.53. Meanwhile, gold plunged Rs 464 to Rs 47,705 per 10 grams.

WPI
WPI Inflation Hits Record High Of 12.94% In May On Costlier Fuel

The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods.

NTPC Recruitment
NTPC Invites EoI For Hydrogen Fuel Cell Based Pilot Projects

NTPC is looking to further strengthen its footprint in green and clean fuel, the company said in a statement. NTPC will collaborate for implementation and further commercialization of the projects.

CAIT Vs Amazon, Flipkart: Traders Body Fully Geared Up To Fight E-Commerce Companies
CAIT Vs Amazon, Flipkart: Traders Body Fully Geared Up To Fight E-Commerce Companies

In view of such a situation, the Confederation of All India Traders (CAIT) has launched an "e-commerce purification week" from Monday to June 21, which is gaining massive support from thousands of trade associations across the Country.

FPI
FPIs Invest Rs 15,520 Cr In Indian Equities In June

Foreign Portfolio Investors (FPI) have made a total net investment of Rs 15,520 crore in Indian equities so far in June.

India To Require 400k Charging Stations For 2 Mn EVs By 2026: Report
India To Require 400k Charging Stations For 2 Mn EVs By 2026: Report

The Grant Thornton Bharat-Ficci report said for India to reach its vision of 100 per cent EVs by 2030, factors such as increasing government support, decreasing cost of technology, and distressing pollution levels, would be key to accelerate this transition.

FM Sitharamans Comment On Cryptocurrency Brings Relief To Industry
GST Rates On COVID Items Slashed; Vaccine Still Taxed At 5%

Finance Minister Nirmala Sitharaman said that the council agreed to go with the recommendations of the Group of Ministers (GoM) that was single point agenda on the council on Saturday.

GST
GST Council Meet Begins, May Consider Duty Cuts On Medical Supplies

The 44th meeting of the GST Council, the second this year in the midst of the second wave of Covid pandemic, began on Saturday morning through video conferencing.

TRAI
TRAI Releases New Technical Framework For Broadcasting And Cable Services

The Telecom Regulatory Authority of India (TRAI) released an amendment to interconnection regulations of 2017 which provides for a framework for technical compliance of conditional access system (CAS) and subscriber management system (SMS) for the broadcasting and cable sector.

  • Saturday, 12 June 2021
  • TRAI
Sensex Posts Worst Day In 10 Months, Sinks 1,940 Pts; Rupee Tanks 104p Against USD
Sensex Jumps To Lifetime Highs; Gold Rises Rs 441

Equity benchmark Sensex climbed 174 points to close at its all-time high on Friday. Meanwhile, gold prices rose Rs 441 to Rs 48,530 per 10 gram.

epfo
PF, Aadhaar Linking Now Mandatory To Get EPFO Benefits; Interest Credit Next Month

EPFO has also updated Electronic Challan cum Return (ECR) filing norms. The employer can only file ECR for those employees who have linked their Aadhaar to PF UAN.

Sensex Tumbles 599 Pts, Gold Declines Rs 217
Stock Market Hit Record Highs; Sensex Jumps Over 250 Pts In Early Trade, Nifty Tops 15,800

The Indian stock market reached new milestones on Friday morning with both the BSE Sensex and the Nifty50 on the National Stock Exchange touching fresh record highs.

ATM
RBI Permits Banks To Increase Charges For Cash/Non-Cash Transactions Beyond Free Permissible Limit

The RBI said the charges have been allowed to be increased given the increasing cost of ATM deployment and expenses towards ATM maintenance incurred by banks/white label ATM operators

Sensex Soars 750 Pts As Investors Cheer Q3 GDP Data
Sensex Surges 359 Pts; Gold Declines Rs 259

The 30-share Sensex finished 358.83 points or 0.69 per cent higher at 52,300.47. Intra-day, the index swung between a high of 52,346.35 and a low of 51,957.92.

Revenue Deficit Grant
Revenue Deficit Grant Of Rs 9,871 Cr Released To 17 States

The Finance Ministry has released the third monthly instalment of Post Devolution Revenue Deficit (PDRD) Grant of Rs 9,871 crore for the year 2021-22 to 17 states.