Business

The government has managed to meet the revised fiscal deficit target of 3.4 per cent of the GDP after it cut last minute expenditure and rolled over fuel subsidies to make up for the shortfall in tax collection. The interim Budget presented in

State Bank of India (SBI), country's largest lender, has announced a reduction in its MCLR (Marginal Cost of Funds based Lending Rate) by 5 basis points across all tenors with effect from April 10, 2019, according to a press release issued by

Indian Railways allows a passenger to get an insurance cover of up to Rs 10 lakh on online train bookings via its e-ticketing arm IRCTC (Indian Railway Catering and Tourism Corporation). The premium for such an insurance cover is 49 paise per passenger

More turbulence seems to be in store for debt-ridden Jet Airways, as lessors to the airline have approached India's civil aviation regulator to de-register 18 aircraft owing to unpaid dues.

At present, Jet Airways' operates 26 aircraft from a fleet size of 119.

According to industry insiders, the Directorate General of Civil

Indian telecom companies - Reliance Jio, Bharti Airtel and Vodafone Idea are offering aggressively priced recharge plans which offer high speed internet data (4G data plan), unlimited voice calls, SMSes and access to inbuilt mobile applications operated by the services

The S-P BSE Sensex and NSE Nifty 50 Indexes erased gains and were trading with a negative bias led by declines in Asian Paints, Kotak Mahindra Bank, Bharti Airtel, HDFC Bank and HDFC. The Sensex fell as much as 231 points from day's highest level of 38,850.66 and

The National Company Law Appellate Tribunal (NCLAT) on Tuesday said it may direct ArcelorMittal, in the next hearing on April 23, to deposit Rs 42,000 crore for acquisition of the insolvent Essar Steel in a separate account.

The two-member bench, headed by Justice SJ Mukhopadhaya, also directed ArcelorMittal to file an affidavit

Employees' Provident Fund Organisation (EPFO), the retirement fund body, allows subscribers to apply for withdrawal from their Employees Provident Fund or EPF corpus. EPF is a mandatory contribution from the salary of an individual that every organization with more than 20 employees has to

Petrol prices were lowered marginally on Tuesday, while diesel rates were left unchanged for a second consecutive day. With effect from 6 am on Tuesday, the prices of petrol in the four metros of Delhi, Mumbai, Kolkata and Chennai were lowered by 5 paise per

In early January, Jet Airways and its main lender, State Bank of India, met with aircraft lessors to assure them there was a plan to rescue the debt-laden carrier so it could pay them, sources familiar with the matter said.

The

Indian equity benchmarks ended today's topsy-turvy session on a strong note. Gains in the S-P BSE Sensex and NSE Nifty 50 Indexes were paced by Yes Bank, ICICI Bank, Tata Motors, Bajaj Auto, Coal India and HCL Technologies. The benchmarks opened with minor losses and swung at least

SBI or State Bank of India, the country's largest lender, offers a host of savings schemes under its personal banking portfolio. It provides two types of savings accounts for minors: Pehla Kadam and Pehli Udaan. While the SBI's Pehla Kadam account can be

Ford Motor Co is nearing a deal with Mahindra - Mahindra to form a new joint-venture company in India, a move that will likely see the US automaker cease independent operations in the country, two sources with direct knowledge of the talks

GoAir is offering domestic flight tickets at a starting price of Rs. 1,375 in a limited-period sale. Bookings under the offer can be made till April 12, 2019, according to airline's website - goair.in. The sale is valid for travel till June 2019, according to GoAir's website. Under GoAir's offer, the cheapest flight ticket is available on

The rupee depreciated by 8 paise to 69.73 against the dollar in early trade on Tuesday on increased demand for the US currency from importers. Besides, strength in dollar against major rival currencies on stronger US payroll data and rising crude prices also

The International Monetary Fund on Tuesday cut its global economic growth forecasts for 2019 and warned growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union. In its third downgrade since October, the global

Life Insurance Corporation (LIC) of India, the country's largest life insurer, offers a variety of endowment plans. LIC's New Jeevan Anand policy offers a combination of protection and savings, according to the insurance major's website - www.licindia.in. Endowment

Domestic stock markets recovered early losses on Tuesday amid choppy trade, with the S-P BSE adding 150 points. The NSE Nifty rose as much as 33.75 points to touch 11,638.25, while the 30-scrip benchmark advanced to 38,850.66, up 150.13 points from the previous close.

Indian rupee is hovering around 70 per US dollar for a month now. Last year it traded in the range of 66.7 and 74.5. Some of the movements in the exchange rate in the last quarter of 2018 were sharp and sudden, an outcome of unexpected news and unanticipated shocks. So what is in store for the rest of 2019

In a floating exchange rate system, the

Domestic refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member, four sources said.

In November, US President Donald Trump

Start-ups, when they raise venture money to build their businesses, begin with a Series A round and then proceed through Series E, F or maybe G before going public. The ride-hailing service Ola is a bit unusual: It just completed its Series J

Oil hit a five-month high above $71 a barrel on Tuesday, supported by concern that violence in Libya could further tighten supply, although Russian comments signalling willingness to pump more dampened the rally.

Supply curbs led by the Organization of the Petroleum Exporting Countries have underpinned a more than 30 per cent rally this

Aviation regulator DGCA or Directorate General of Civil Aviation has requested airlines to augment the number of flights, news agency Press Trust of India (PTI) reported quoting officials. The officials said the airlines were asked to bring an "immediate"

Passenger vehicle sales are expected to grow between 3-5 per cent in the current fiscal year, after expanding at the slowest pace in five years last year, the country's auto industry body said on Monday.

Domestic passenger vehicle sales

India is projected to grow at 7.3 per cent in 2019 and 7.5 per cent in 2020, supported by the continued recovery of investment and robust consumption, thus remaining the fastest growing major economy of the world, according to the IMF. In 2018, India's

State-run State Bank of India (SBI) said on Tuesday that it has put non-performing assets (NPAs or bad loans) worth Rs 423.67 crore on auction to recover unpaid dues.

The accounts -- Kamachi Industries owes Rs 364.80 crore and SNS Starch has Rs 58.87 crore due - to SBI,

The Punjab National Bank (PNB)'s 13 per cent stake sale in PNB Housing Finance for Rs 1,850 crore will strengthen the bank's capital, said Moody's on Monday.

The report said that it estimates the sale will increase PNB's Common Equity Tier 1 (CET1) ratio by about 40 basis points

The rupee on Tuesday strengthened by 37 paise to close at 69.30 against the US dollar in line with firming Asian currencies and sustained foreign fund inflows, halting its three-day losing streak. Forex traders said the dollar's weakness against its key

Polycab India's IPO or initial public offer, which opened for subscription on Friday, was subscribed more than three times on Tuesday. The Polycab IPO worth up to Rs. 1,346 crore comprises of a fresh issue of Rs 400 crore and an offer for sale (OFS) of up to Rs

After detecting mismatches in some e-way bill submissions, the Centre is now examining more GST Network (GSTN) data to see if such evasions are increasing sufficiently enough to consider withdrawing the facility of generating multiple