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Tag: Business News

RBI Opens Rs 60,000-Cr Emergency Credit Line For Yes Bank

New Delhi: The Reserve Bank has opened an emergency line of credit of around Rs 60,000 crore to Yes Bank to meet any liquidity crisis in paying back its depositors as the bank resumes normal operations from Thursday. The additional liquidity arsenal is in line with Section 17 (4) of the RBI Act and also […]

Privatising BPCL: Govt Seeks Global Bidders With $10 Bn Networth

New Delhi: The Union government has issued a Global Invite for Expression of Interest for disinvestment in Bharat Petroleum Corporation Limited (BPCL) from prospective bidders with a minimum net worth of $10 billion as of Saturday. The EoI submissions can be made till May 2, whereas investor queries will be entertained till April 4. Another […]

Irdai Expresses Concern Over High Hospital Tariffs, Plans To Standardise Charges

Kolkata: Insurance sector regulator Irdai on Friday expressed concern over rising tariffs in hospitals and has planned to standardise charges for some medical procedures, an official said. It has been noticed that rate of inflation of hospital charges at present is around 10-15 per cent and tariffs are being changed on a regular basis, Irdai […]

Sensex Slips 106 Points On Inflation, Coronavirus Worries

Mumbai: Indian markets closed lower on Thursday along with major world indices over a sharp rise in coronavirus-related deaths in China. Increase in retail inflation and prices of LPG cylinder also dampened the investors’ mood further. China’s Hubei province, the epicentre of the coronavirus outbreak, reported 242 new deaths, double the previous day’s toll. The […]

Pensioners, Job Starters, Entrepreneurs To Gain More From IT Rate Cut

New Delhi: Opting for the new tax rates proposed in the budget could be beneficial for job-starters, pensioners, entrepreneurs and those taxpayers unable to claim available deductions and exemptions under the current tax structure, government sources said. Finance Ministry sources said that there are significant numbers of people, who for various reasons, are not able […]

Taxpayers Given More Time To File Monthly GST Returns

New Delhi: In a major relief for small traders with an annual turnover of Rs 5 crore or less, the government on Wednesday announced the extension of the cut-off date for filing monthly GST returns by up to 4 days. While the return filing date for firms with an annual turnover of Rs 5 crore […]

Amid NBFC Crisis, SBI Reminds RBI Of Its Role As Lender Of Last Resort

New Delhi: Economists at the State Bank of India (SBI) have reminded the central bank that they should not forget their primary function of being the lender of last resort. As the NBFC continues to be in distress, economists at SBI on Friday called for the Reserve Bank of India (RBI) to play its role […]

Limit To Lowering Interest Rates, Says SBI Chief

New Delhi: SBI Chairman Rajnish Kumar on Saturday said that banks cannot lower interest rates beyond a threshold due to asset-liability mismatch issues. “We can’t lower the interest rates without lowering the interest rate for depositors and there is a threshold below which we cannot reduce the interest rate for deposits,” he said at the […]

Sensex, Nifty End At Record Levels; Realty Stocks Up

Mumbai: Despite weakness in the Indian economy, the equity markets continued to hit record levels in expectation of a revival. Nifty Realty index jumped by 0.88 per cent after Finance Minister Nirmala Sithraman, announced a Rs 25,000 crore fund relief fund for distressed homebuyers. The benchmark Sensex closed at record level while the Nifty closed […]

Merc India delivers over 600 cars during Dhanteras

New Delhi: Luxury automobile manufacturer Mercedes-Benz India on Saturday said that it has delivered more than 600 cars during Dhanteras across markets. The company’s stellar sales performance comes after it had delivered more than 200 cars on Dussehra and Navratri in Mumbai and Gujarat. Further, Mercedes-Benz India handed more than 250 cars to customers on […]

Samsung heir in India, likely to meet Modi, Mukesh Ambani

Mumbai: Samsung Electronics Vice Chairman Lee Jae-yong is currently in India, provoking speculation that the South Korean tech giant may make further investments to expand its presence in the country, industry sources said on Monday. Lee is likely to meet Prime Minister Narendra Modi and Reliance Industries Chairman Mukesh Ambani this week, reports Yonhap news […]

Odisha's GO-SWIFT portal gets 1,000 investment proposals

Bhubaneswar: The Government of Odisha Single Window for Investor Facilitation and Tracking (GO-SWIFT) portal has received 1,000 investment proposals in less than two years of its roll-out. The one-stop portal that tracks the complete life cycle of an investment, received its 1,000th proposal from a Mumbai-based chemical manufacturer Rashtriya Chemicals and Fertilizers Ltd. The company […]

GoAir Adds 12 Flights, Services To Start From Oct 5

Mumbai: Budget airline GoAir on Tuesday said that it will commence 12 flight operations including new ones and additional frequencies from October 5. New flights between Delhi-Chandigarh, Lucknow-Ahmedabad and Kolkata-Lucknow will be started. Besides, GoAir will increase frequencies between its existing routes such as Kolkata-Guwahati and Ahmedabad-Chandigarh. “The launch of 12 new flights is in […]

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai
Sensex, Nifty Rally For 2nd Day On Tax Booster; Close At 2-Month High

Mumbai: Market benchmark BSE Sensex skyrocketed by 1,075 points to close at more than two-month high on Monday, extending its bull run for a second straight day on the back of gains in financial, banking and FMCG stocks after the tax booster by the government. The broader NSE Nifty zoomed by 326 points or 2.89 […]

Markets Gain On RBI's Surplus Transfer To Govt

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 […]

Market Starts On A Tepid Note; Nifty Slips Below 11,000

Mumbai: Domestic equity benchmarks BSE Sensex and NSE Nifty started on a negative note on Wednesday as investors remained risk averse due to uncertainties over economic growth. The 30-share index was trading 65.72 points, or 0.18 per cent, lower at 37,262.29. The broader Nifty dropped below the 11,000 level, falling 19 points, or 0.17 per […]

Sensex Rises Over 100 Pts On Positive Global Cues

Mumbai: Domestic equity benchmark BSE Sensex rose over 100 points in early trade on Tuesday led by gains in IT stocks amid positive cues from global markets. The 30-share was trading 100.23 points or 0.27 per cent higher at 37,502.72 at 0930 hours; and the broader Nifty too rose 16.15 points or 0.15 per cent […]

Ashok Leyland ready to ride on Elon Musk's India dream

Mumbai: Tesla CEO Elon Musk who has been moving back and forth on his India dream for couple of years and unable to take the next big step now has an invitation from commercial vehicles major Ashok Leyland. Musk wants to make India his next big market but the question lingers: Will the electric car […]