Business

Binny Bansal's resignation is an embarrassment for Walmart in India.

The co-founder and chief executive officer of e-commerce company Flipkart Group resigned after an investigation into allegations of sexual assault, dealing a blow to owner Walmart Inc.'s ambitions in the country.

Binny Bansal, 37, stepped down immediately following an independent

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Binny Bansal's resignation takes effect immediately.

Flipkart co-founder Binny Bansal has resigned as group CEO following a probe into allegations of "serious personal misconduct", the e-commerce company and its parent Walmart Inc said in a joint statement on Tuesday.

"Binny has been an important part of Flipkart since co-founding the company, but

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Beijing: 

The Indian unit of China's largest bank, the Industrial and Commercial Bank of China, has set up a $200-million fund for investing in the promising Indian micro, small and medium enterprises, and ventures, a top official said here.

Zheng Bin, CEO of the Industrial and Commercial Bank of China (ICBC) India, on Monday gave an overview of the

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INR Vs USD: Rupee had gained 22 paise to close at 72.67 against the US dollar Tuesday.

Rupee Vs Dollar: After opening higher at 72.18 - its strongest level since September 21 - the rupee appreciated further by 67 paise against the US dollar in early trade on Wednesday, reported news agencies Press Trust of

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Binny Bansal Resigns As Flipkart Group CEO. Read Full Statement Here

Flipkart's board of directors accepted Binny Bansal's resignation on Tuesday. Mr Bansal stepped down as chief executive officer of Flipkart Group, following a probe into serious personal misconduct, US-based Walmart said in a statement. "While the investigation did not find

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Ashish Chowdhary has 25 years of international experience in the enterprise and telecom sectors.

New Delhi: 

In a fillip to Apple CEO Tim Cook's big future plans for the Indian market, Apple has appointed Ashish Chowdhary, chief customer operations officer at Nokia Networks, as its India operation head, reliable industry sources told news agency

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Technical charts suggest that Nifty may head towards the 10,900-mark.

The domestic stock markets opened in the green amid a crash in crude oil prices on Wednesday. The S-P BSE Sensex started at 35,330.14 against its last close of 35,144.49. The Nifty50 index of the National Stock Exchange (NSE) opened at 10,634.90 as compared to Tuesday's close

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Sovereign gold, however, remained flat at Rs 24,800 per piece of 8 grams.

Gold prices came down by Rs 100 to Rs 32,050 per 10 grams at the bullion market on Tuesday owing to slackened demand from local jewellers despite a firm trend in overseas markets, reported news agency Press Trust of India. Silver followed suit and cracked below the Rs

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Last month, Indian railways also announced scrapping of flexi-fare in 15 premium trains completely

To cater to excess demand, Northern Railway, an arm of the Indian Railways, has announced new special trains. "In order to clear extra rush of passengers during festival season, Northern Railway in coordination with other Zonal Railways has planned to

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The head of Flipkart Group, Binny Bansal, has resigned following an internal probe into "serious personal misconduct", US-based Walmart - the main shareholder of Flipkart - said on Tuesday, and two people familiar with the matter said it involved an accusation of sexual assault. 

The departure of Mr Bansal, 37, one of India's new generation of

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SBI has asked its customers to upgrade their existing debit cards to an EMV chip-and-PIN debit card.

State Bank of India or SBI, the country's largest lender, is making changes to some of its services. SBI will shut down its mobile wallet app, SBI Buddy, from November 30, 2018, according to the banking major's website -- sbi.co.in. SBI has also

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Meanwhile, the international benchmark, Brent crude slipped below the $70-mark.

The rupee recovered by 29 paise to 72.60 against the US currency in early trade Tuesday, owing to easing global crude oil prices and better-than-expected macro economic data on the domestic front, reported news agency Press Trust Of  India. Besides, fund inflows by

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The fee levied by SBI for online transfers varies depending upon factors such as amount of transaction

SBI or State Bank of India, the country's largest lender, charges a fee ranging from Rs 1 to Rs 50 per transaction for money transfer through NEFT and RTGS. Electronic or wire transfer of funds refers to transfer of money from one bank account to a

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Annual returns on fixed deposits are fixed even amid market fluctuations and geopolitical uncertainties.

Fixed deposits (FDs), which offer guaranteed returns on investments, are meant for investors looking for assured interests. FDs are fixed-income instruments, the returns on which are determined at the time of initiating the deposit. The annual

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Jet Airways posted its third consecutive quarterly loss on Monday.

Conglomerate Tata Sons is conducting due diligence on Jet Airways as it explores the purchase of a controlling stake in the cash-strapped airline, Mint newspaper reported on Tuesday citing two people directly aware of developments. Saurabh Agarwal, chief financial officer of Tata

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Sebi ordered credit rating agencies to analyse deterioration in the liquidity conditions of an issuer

Mumbai: 

The Securities and Exchange Board of India (SEBI) tightened disclosure and review norms for credit rating agencies (CRAs) on Tuesday, following concerns this year after the firms after they failed to raise timely red flags ahead of the

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The Sensex and Nifty closed higher after two days of losses

Stock markets registered gains of almost 1 per cent on Tuesday, led higher by banking, financial services, FMCG and energy shares. BSE benchmark index Sensex ended 331 points, or 0.95 per cent, higher at 35,144 and the Nifty index of the National

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Urjit Patel met senior officials in the Prime Minister's Office on Friday, report says.

NEW DELHI: RBI Governor Urjit Patel is believed to have met Prime Minister Narendra Modi last week in a bid to work out a solution on contentious issues that have been flash point between the central bank and the government during the last few weeks. Sources

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The top court sought the presence of CMD Anil Sharma and two directors on November 19

New Delhi: 

In a massive crackdown on Amrapali Group for "wilful disobedience" of its orders, the Supreme Court on Tuesday attached the company's 100-bed multi-speciality hospital, bank accounts, the building which houses its office, certain firms and a "benami"

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Sales of gasoline, or petrol, were 4.6 per cent higher from a year earlier at 2.33 million tonnes.

Domestic fuel demand rose 4 per cent in October compared with the same month last year.

Consumption of fuel, a proxy for oil demand, totalled 17.99 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

Sale

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Netflix is the world's largest streaming service with more than 130 million subscribers.

Netflix Inc. said it will test a lower-priced version of its film and television streaming service in some markets to boost sales.

The company hasn't committed to lowering prices anywhere, but does want to experiment, Chief Executive Officer Reed Hastings said

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The rupee is still down 13.8% against the American currency so far this year

The rupee moved higher by 22 paise - or 0.3 per cent - against the dollar to end at 72.67 on Tuesday, boosted by easing crude oil prices and strong macroeconomic data. A nearly 3 per cent decline in crude oil prices, dragging them

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Ashok Leyland posted a lower-than-expected 37.5 per cent rise in second-quarter profit on Tuesday due to higher raw material costs.

Profit was Rs 460 crore ($63.32 million) in the quarter ended September 30, compared with Rs 334 crore a year earlier, the company said.

Analysts had on an average expected a profit of Rs 513 crore, according to IBES

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INR Vs USD: Better-than-expected macro economic data helped the rupee.

MUMBAI: The rupee recovered by 29 paise to 72.60 against the US currency in early trade Tuesday, owing to easing global crude oil prices and better-than-expected macro economic data on the domestic front. Besides, fund inflows by foreign investors and the US dollar's weakness

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Total revenue from operations rose 34.1 per cent to Rs 43,544 crore.

Steelmaker Tata Steel net profit grew more than three-fold in second quarter, the company said on Tuesday, beating market estimates, buoyed by strong domestic growth. Net profit came in at Rs 3,116 crore ($428.79 million) in its fiscal second quarter ended September 30 from Rs

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State Bank of India (SBI) offers many options to make online money transfers.

From electronic money transfers or wire transfers to various banking transaction servcies, commercial banks today provide many digital services. Every banking transactions seem to be only a click away via your phone or computer. However, since online or digital

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Qualtrics expects 2018 revenue in excess of $400 million.

The tech industry's newest billionaires are a pair of brothers who started a software company in their parents' basement in Utah. Now Ryan and Jared Smith are selling Qualtrics International Inc. to European giant SAP SE for $8 billion -- and they'll get to keep running the business. Ryan,

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The co-founder and chief executive officer of e-commerce company Flipkart Group has resigned after an investigation into allegations of "serious personal misconduct," owner Walmart Inc. said.

Binny Bansal, 37, stepped down immediately following an independent probe into the allegations, which the executive denies, Walmart said. The U.S. retail

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Sun Pharma's profit was hurt by a one-time charge due to a legal settlement in Q2

Sun Pharmaceutical Industries, the country's largest drug maker by market capitalisation, posted a surprise quarterly loss on Tuesday, hurt by a one-time charge due to a legal settlement.

Net loss came in at Rs 219 crore ($30.15 million) for the quarter ended September

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IL-FS said any transactions would be subject to regulatory approvals.

MUMBAI: Debt-laden Infrastructure Leasing and Financial Services (IL-FS) has started work on plans to sell off assets, part of a wider restructuring of the group, the company said on Monday. The government took control of IL-FS, a major infrastructure financing and

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