Business News Updates

Bengaluru: Ride-hailing giant Uber on Thursday announced partnering with Bajaj Auto to introduce its Bajaj Qute passenger quadricycle in its fleet of UberXS services. The Bajaj Qute is essentially a driver-plus-three-passenger-quadricycle – a four-wheeled vehicle that’s smaller and lighter than a passenger car. “We are delighted to partner with one of India’s most trusted names, […]

New Delhi: State Bank of India Chairman Rajnish Kumar on Thursday said the bank does not need any capital from the government. “SBI doesn’t need any capital from the government,” Kumar said after a meeting with the Finance Minister for pre-Budget consultations with bankers where capital infusion in PSU banks was discussed. In March this […]

New Delhi: The government has decided to reduce the rate of contribution under the ESI Act from 6.5 per cent to 4 per cent wth employers contribution being reduced from 4.75 to 3.25 per cent and that of employees from 1.75 to 0.75 per cent. Reduced rates will be effective from July 1 this year […]

Mumbai: The rupee opened on a weak note and declined by 11 paise to 69.61 against the US dollar in opening trade Friday, as rising crude oil price concerns weighed on investor community. The rupee opened weak at 69.55 at the interbank forex market and then fell further to 69.61, down 11 paise over its […]

Mumbai: The key Indian equity indices opened on a negative note on Friday with the BSE Sensex losing nearly 140 points, tracking weakness in the major Asian markets. At 9.38 a.m., the Sensex traded at 39,602.13, lower by 139.23 points or 0.35 per cent from the previous close of 39,741.36 points. It has so far […]

New Delhi: The State Bank of India has refused to disclose any communication it received from the government or the Reserve Bank of India on electoral bonds, terming it “personal information” and held in “fiduciary capacity”. Responding to an RTI filed by Pune-based activist Vihar Durve who had demanded copies of all letters, correspondence, directions, […]

New Delhi: After extending the deadline for several times, India has decided to impose additional customs duties on 29 US products, including almond, walnut and pulses, with effect from June 16, sources said. A notification with this regard will be issued by the finance ministry soon, they added. The move will hurt American exporters of […]

Mumbai: The Indian rupee Friday fell by another 30 paise to close at 69.80 against the US currency as strengthening greenback and rising crude oil prices kept investors cautious. Besides, weak Asian currencies and an intense sell-off in domestic equities also put pressure on the domestic currency. On weekly basis, the rupee saw a fall […]

New Delhi: Securities market regulator SEBI on Friday debarred NDTV’s promoters Prannoy Roy and Radhika Roy from holding any key managerial positions in the Board or the management of the news channel company for being “involved in fraudulent acts”. Additionally, along with RRPR Holdings, they have been debarred from accessing the stock markets or selling […]

New Delhi: Prime Minister Narendra Modi said on Saturday that the goal to make India a five-trillion-dollar economy is challenging but can be achieved and asked the states to recognise their core competence and work towards raising GDP targets. In his opening remarks at the fifth meeting of the Governing Council of NITI Aayog, the […]

New Delhi: Vedanta Ltd has lost about USD 200 million in profits ever since its copper smelter plant in Tamil Nadu was shut more than a year back after police fired on protesters and killed 13 people, Group Chairman Anil Agarwal said. Agarwal added that the stoppage of production at the Tuticorin plant of the […]

New Delhi: Petrol price declined by 6 paise across the four metropolitan cities in the country on Sunday, data from the Indian Oil Corp’s website showed. In Delhi, petrol was sold for Rs 69.93 per litre, down from Rs 69.99 a litre on Saturday. In Kolkata, Mumbai and Chennai, petrol was sold for Rs 72.19, […]

Kolkata: Ride hailing major Uber is piloting a 24×7 on-trip helpline to boost the safety of its passengers, company sources said. Since its inception in India in 2013, Uber has not offered direct calling support for passengers, and this move comes following feedbacks in this regard, they said. “We are piloting a security call centre […]

We know how difficult cash transactions are when we don’t have a debit or credit card in possession. State Bank of India (SBI) has always advised its customers to use the cards wisely so that they don’t fall prey to fraudsters. Credit cards give you a lot of power and if you follow some crucial […]

Mumbai: Indian equities traded in red during the morning trade session on Monday after opening slightly higher. Index heavyweight Reliance Industries was down 1.56 per cent on the BSE. Asian shares opened mixed as investors were cautious ahead of the Federal Reserve meeting. At 9.25 a.m. the Sensex was trading 112.01 points or 0.28 per cent […]