Business News Updates

New Delhi: The Bimal Jalan-led panel has recommended a review of the Reserve Banks Economic Capital Framework (ECF) every five years. “The Committee recommends that the framework may be periodically reviewed every five years. Nevertheless, if there is a significant change in the RBI’s risks and operating environment, an intermediate review may be considered,” the […]

Mumbai: Stocks advanced as the government was set to receive 1.76 lakh crore of RBI’s surplus, which will give it more room for a stimulus in order to revive economic growth. Experts noted that the government now will be able to contain its fiscal deficit. Gains on the Nifty index was led by PSU Bank […]

Mumbai: The rupee depreciated marginally by 9 paise to 71.57 against the US dollar in early trade on Wednesday amid unabated foreign fund outflows and cautious opening in domestic equities. Forex traders said concerns about US-China trade spat kept market participants edgy. Rupee and most Asian currencies like South Korean won, Thai Baht, Malaysian ringgit, […]

How eager and excited are you for a memorable trip? Odisha is a fascinating destination that guarantees splendid tour experience with its classical monuments and enchanting landscapes. If you are planning a trip in the near future, here’s some good news as the Indian Railway Catering and Tourism Corporation (IRCTC) has come up with an […]

New Delhi: The government on Wednesday relaxed Foreign Direct Investment or FDI rule for foreign single brand retailers and also permitted foreign investment in contract manufacturing and coal mining. Briefing reporters on the decisions taken by the Union Cabinet headed by Prime Minister Narendra Modi, Commerce and Industry Minister Piyush Goyal said 100 per cent […]

New Delhi: A government constituted Direct Tax Code task force, headed by CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to […]

New Delhi: A working group set up by insurance regulator Irdai will look at reviewing the regulations on formulae of current Motor Third Party obligations. “The working group to revisit the IRDAI (Motor Third Party Obligation in respect of insurers), Regulations 2015,” the Irdai said. Sec 32D of the Insurance Act, 1938 requires every insurer […]

Mumbai: Benchmark indices nursed losses for the second straight session on Thursday, dragged by heavy selling in banking and financial stocks, as August series derivatives expired amid tepid global cues. After a highly volatile session, the 30-share BSE Sensex ended 382.91 points, or 1.02 per cent, lower at 37,068.93. Similarly, the broader NSE Nifty shed […]

Mumbai: The balance sheet of RBI swelled by 13.42% from Rs 36.17 lakh crore to touch Rs 41 lakh crore during the 2018-19 due to domestic and foreign investments, according to the annual report of the central bank released on Thursday. There was an increase in the size of the bank’s balance sheet during 2018-19 […]

Mumbai: The rupee appreciated by 12 paise to 71.67 against the US dollar in early trade on Friday following positive developments in the US-China trade talks. Besides, firm trend in domestic equity markets and easing crude oil prices also revived the rupee sentiment, forex dealers said. At the interbank foreign exchange, the rupee opened strong […]

Mumbai: Domestic equity benchmark BSE Sensex jumped over 200 points and the Nifty reclaimed the 11,000 level in early trade on Friday led by gains in financial and energy stocks amid positive global cues. The 30-share index was trading 205.70 points, or 0.55 per cent, higher at 37,274.63 at 0930 hours, while the broader Nifty […]

New Delhi: In the biggest consolidation exercise in the banking space, the government on Friday announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks. United Bank of India and Oriental Bank of Commerce will be […]

New Delhi: Severe slowdown in manufacturing activity in the country pulled India’s first quarter (Q1) 2019-20 growth rate to 5 per cent, marking the fourth successive quarter of decline in growth rate on the trot. This is the slowest GDP growth in the last over six years. From 8 per cent during Q1 2018-19 to […]

Chennai: The real agenda of the government in merging banks is to help big corporates as consolidation of the banks will not result in recovery of huge bad loans, said a top official of the All India Bank Employees’ Association (AIBEA). Opposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General […]

Thiruvananthapuram: Kerala Chief Minister Pinarayi Vijayan was on Saturday informed that 30 additional daily flights would be introduced from the four airports in the state in the next three months. The assurance in this regard was made by the Union Civil Aviation Secretary Pradeep Singh Kharola at a meeting of CEOs of various airline companies […]