Business

Chennai: 

The United Forum of Bank Union (UFBU) - a consortium of nine unions in the banking sector - will strike work on December 26 opposing the merger of Bank of Baroda, Dena Bank and Vijaya Bank, the All India Bank Employees Association (AIBEA) said on Saturday.

The AIBEA is one of the constituents of the UFBU.

In a statement, the AIBEA said the

Details
Category: Business

Write comment (91 Comments)

The commodity markets can open at 9 a.m. instead of 10 a.m. now, Sebi said.

The Securities and Exchange Board of India (SEBI) allowed exchanges to start commodity trading an hour earlier to increase participation of different stakeholders, the market regulator said in a statement on Friday.

The commodity markets can open at 9 a.m. local time (0330

Details
Category: Business

Write comment (94 Comments)

RBI is holding excess capital between Rs 4.5 and Rs 7 lakh crore.

In the midst of a government-Reserve Bank of India (RBI) tussle over utilisation of capital reserves of the central bank, former Chief Economic Advisor Arvind Subramanian strongly supports the government's view, saying the RBI is holding excess capital between Rs 4.5 and Rs 7 lakh

Details
Category: Business

Write comment (95 Comments)

Sovereign gold, however, held steady at Rs 24,700 per piece of 8 grams.

Falling for the fourth straight day, gold prices on Saturday dipped by Rs 15 to Rs 31,460 per 10 grams due to lacklustre demand amid weak global cues, reported news agency Press Trust Of India (PTI). Silver prices too declined by Rs 515 to Rs 36,560 per kg on weak demand from

Details
Category: Business

Write comment (96 Comments)

Manufacturing growth at 7.4%, agriculture growth at 3.8% were "steady", said Subhash Chandra Garg.

NEW DELHI: Economic growth in the July-to-September quarter "seems disappointing," Economic Affairs Secretary Subhash Chandra Garg said in a tweet on Friday.

Earlier, government data showed that Asia's third-largest economy grew a lower-than-expected

Details
Category: Business

Write comment (98 Comments)

The reform attempts to attract over $100 billion in investments into the country.

Prime Minister Narendra Modi plans to unveil a long-awaited industrial policy soon to boost domestic manufacturing and accelerate economic growth before central polls next year. Under the new plan, a company need not purchase land or equipment but could lease them on

Details
Category: Business

Write comment (90 Comments)

The new route by the carrier comes amid high competition in the country's civil aviation market.

Jet Airways launched its first daily direct flight between Pune and Singapore from December 1, 2018, said the airline in a press release. The new route by the carrier comes amid high competition in the country's civil aviation market. "Jet Airways is

Details
Category: Business

Write comment (93 Comments)

GDP grew at 8.2% per cent in the first quarter that ended in June 2018.

Economy grew a lower-than-expected 7.1 percent in the July-September quarter from a more than two-year high of 8.2 per cent in the previous quarter, government data showed on Friday. The latest quarter's annual pace was lower than a Reuters poll forecast of 7.4 percent.

Here's

Details
Category: Business

Write comment (91 Comments)

Share Market Today: In the sectoral landscape, gains were led by Nifty IT and Nifty Pharma indices

The domestic stock markets traded firmly in the green on Friday, ahead of September quarter growth numbers scheduled to be released later in the day. The S-P BSE Sensex opened at 36,304.43 and the Nifty50 barometer of the National Stock Exchange

Details
Category: Business

Write comment (97 Comments)

BSBD account holders also get passbook facility free of charge, said State Bank of India.

State Bank of India, the country's largest lender, informed about the benefits of a basic savings bank deposit account on microblogging website -- Twitter. A basic savings bank deposit or BSBD account is a type of zero balance savings account and does not

Details
Category: Business

Write comment (91 Comments)

On Thursday the rupee had vaulted 77 paise to a three-month high of 69.85 per US dollar.

The rupee rose by 27 paise to close at a four-month high of 69.58 against the dollar on Friday, reported news agency Press Trust of India (PTI). The local currency extended gains for fourth day in a row aided by easing

Details
Category: Business

Write comment (90 Comments)

INR Vs USD: On Thursday, the rupee had vaulted 77 paise to a 3-month high of 69.85 per US dollar.

MUMBAI: Rising for the fourth straight day, the rupee climbed 21 paise to a three month high of 69.64 against the US dollar in early trade Friday, amid weakness in the greenback against some currencies overseas and a higher opening of domestic

Details
Category: Business

Write comment (96 Comments)

Analysts on average expect Microsoft's revenue to increase 12.7 per cent for its fiscal year 2019

SAN FRANCISCO: 

Microsoft Corp's stock market value closed above Apple Inc's for the first time in eight years on Friday as the Windows maker benefited from growth in cloud computing while Apple was hit by investor concern about iPhone demand. Shares of

Details
Category: Business

Write comment (99 Comments)

Government has said it was confident of meeting its fiscal deficit target of 3.3% of GDP in FY19.

April-October fiscal deficit stood at 6.49 lakh crore or 103.9 per cent of the budgeted target for current fiscal year, government data showed on Friday.

Net tax receipts in the first seven months of the fiscal year that ends in March 2019 were 6.61

Details
Category: Business

Write comment (90 Comments)

The inter-ministerial panel has decided to divest government's stake in Air India Air Transport Services.

NEW DELHI: The Central government has decided to transfer Air India's debt worth Rs 29,000 crore to a special purpose vehicle (SPV) -- Air India Assets Holding Ltd, a senior government official said on Thursday. According to the official, the

Details
Category: Business

Write comment (100 Comments)

The advance booking for train ticket opens 120 days before the date of journey, according to IRCTC.

IRCTC or Indian Railway Catering and Tourism Corporation, the e-ticketing arm of Indian Railways, offers the facility of online booking of train tickets. The advance booking for train ticket opens 120 days before the date of journey, according to

Details
Category: Business

Write comment (98 Comments)

Reserve Bank of India has forecast an economic growth of 7.4% for the financial year ending in March.

India's economy slowed to 7.1 per cent in the July-September quarter of the year from 8.2 per cent in the previous quarter on the back of a sharp drop in manufacturing, agriculture and mining activities, government data showed on Friday. GDP or

Details
Category: Business

Write comment (91 Comments)

The guidelines NSFR are in line with global norms prescribed by the Basel Committee.

The RBI Thursday said NSFR norms that mandate banks to maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities will be operational from April 2020. 

The NSFR is defined as the amount of available stable

Details
Category: Business

Write comment (91 Comments)

The growth rate of refinery products declined to 1.3 per cent in October.

The growth rate of eight infrastructure sectors slowed down to 4.8 per cent in October due to contraction in the production of crude oil, natural gas and fertiliser, according to the official data released Friday. Eight infrastructure sectors of coal, crude oil, natural gas,

Details
Category: Business

Write comment (100 Comments)

The price reduction comes soon after six consecutive monthly hikes in rates since June.

Domestic cooking gas (LPG) price on Friday was cut by Rs 6.52 per cylinder on account of tax impact on the reduced market rate for the fuel. A 14.2-kg subsidised LPG cylinder will cost Rs 500.90 in the national capital from midnight tonight as against Rs 507.42

Details
Category: Business

Write comment (95 Comments)

AirAsia's average fuel price rose 50.1 per cent over the quarter to $95 per barrel.

AirAsia Group Bhd's operating profit halved in the third quarter as higher fuel costs hurt the Malaysian flagship budget carrier, but it said conditions in the fourth quarter should improve and the holiday season would also help.

Airlines in the region, including

Details
Category: Business

Write comment (96 Comments)

The economy is on track to maintain a high growth rate in the current global environment.

The government on Friday attributed the slowdown in India's GDP growth rate during the second quarter of 2018-19 to a higher base effect, higher import bill on account of oil prices and weakening of the rupee.

It said that the economy is on track to maintain a

Details
Category: Business

Write comment (93 Comments)

SBI's move is in line with the circular (dated July 6, 2017) issued by Reserve Bank of India (RBI).

The deadline for registering State Bank of India (SBI) internet banking with mobile number ends on November 30, 2018 i.e. today. Customers failing to register it will not be able to access the internet banking

Details
Category: Business

Write comment (92 Comments)

The CBDT has said that it only picks less than 1% cases, out of the total returns filed.

The CBDT has issued a fresh directive on 'limited scrutiny' assessment cases allowing the tax officials to widen the scope of such probes if they receive "credible" information of tax evasion by assessees.

The policy-making body for the Income Tax Department,

Details
Category: Business

Write comment (96 Comments)

Unlike stocks and bonds, bank fixed deposits guarantee a stable return on investments.

Bank fixed deposits (FDs) are fixed-income instruments which assure of specific interest rates for a pre-determined period. The annual returns on bank fixed deposits do not change according to geopolitical and macroeconomic uncertainties. Thus, unlike stocks and

Details
Category: Business

Write comment (99 Comments)

Dollar Vs Rupee: Rupee hits its highest level against the dollar since August 21.

The rupee hit a fresh three-month high on Friday amid easing crude oil prices, sustained fund flows and a higher opening of domestic stock markets. The rupee traded at 69.595 per dollar after the American currency weakened

Details
Category: Business

Write comment (90 Comments)

RBI and government have taken steps to support financing needs of the sector.

Mumbai: The Reserve Bank of India (RBI) on Thursday relaxed rules for non-banking financial companies (NBFCs) to sell or securitise their loan books, in a bid to ease persistent stress in the sector.

NBFCs can now securitise loans of more than five-year maturity after

Details
Category: Business

Write comment (94 Comments)

Farm output grew 3.8% year-on-year in the September quarter compared with 5.3% the previous quarter.

Economic growth moderated to 7.1 per cent in the July-September quarter, dragged down by slower consumer spending and farm growth, weakening as Prime Minister Narendra Modi's government turns its attention to an election due by May.

Growth is still

Details
Category: Business

Write comment (92 Comments)

Share markets on Friday: Thirteen out of 30 Sensex stocks closed in the green.

The domestic stock markets closed on a flat-to-positive note on Friday amid falling crude oil prices and an healthy inflow of foreign funds. Ahead of key economic growth data release, the Bombay Stock Exchange (BSE) benchmark

Details
Category: Business

Write comment (90 Comments)

The $44 billion Saudi Aramco refinery was seen as a game changer for both parties.

Mumbai: Maharashtra has put on hold the process to buy land for the country's biggest oil refinery that state-run oil companies are building with Saudi Aramco, Chief Minister Devendra Fadnavis said, after strong opposition from farmers.

The $44 billion refinery was

Details
Category: Business

Write comment (99 Comments)