Business

An investigation raised possible problems over competition in the supply of certain types of steel

Brussels, Belgium: 

The European Union on Tuesday launched an in-depth probe into the proposed creation of a joint venture between Tata Steel and Germany's ThyssenKrupp, saying it could reduce competition.

ThyssenKrupp struck a deal in June to merge its

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Government officials have recently urged RBI to relax its lending restrictions on some banks.

The public spat between the government and the central bank became bitter on Tuesday as Finance Minister Arun Jaitley criticized the top banking regulator for failing to prevent credit excesses by banks between

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Mumbai: 

Nearly half the solar power capacities under implementation worth Rs 28,000 crore face viability risk with the rupee's steady fall which has made imported solar modules costlier and hiked the cost of setting up solar plants, according to a report by credit ratings agency Crisil released on Monday.

The report said these projects include 5.5

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The RBI has said there is actually some credit growth in the non-banking financial company space

New Delhi: 

The Reserve Bank of India (RBI) on Tuesday said there was no liquidity crisis in the NBFCs or non-banking financial companies, assuaging the government's concerns that a cash crunch in the shadow banking space could have a ripple effect

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Jet Airways Diwali offer on flight tickets: Booking period ends on November 5, 2018.

Jet Airways is offering up to 30 per cent discount on domestic and international flight tickets under its 'Diwali Sale' offer. The offer is applicable on base fare in premiere and economy class flight tickets across the airline's network, as stated on its official

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India and Japan have signed a $75-billion bilateral currency swap agreement on Monday during Prime Minister Narendra Modi's visit to Tokyo, the Indian government said in a statement.

The agreement should help bring greater stability to foreign exchange and capital markets in India, the statement added.

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Bank of Baroda's provisions for bad loans fell 16.6 per cent Q-o-Q to to Rs 1,467 crore

Mumbai: 

Bank of Baroda posted a 19.7 per cent rise in second-quarter net profit on Tuesday as the lender made lower provisions for bad loans amid strong growth in retail banking.

Net profit rose to Rs 425 crore ($57.73 million) in the quarter ended September 30

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IL-FS hasn't stopped missing payments even after the government sacked the lender's board.

The government is examining options including an outright sale of Infrastructure Leasing - Financial Services Ltd., a person with knowledge of the matter said, amid attempts to stem defaults at the lender with $12.6 billion of debt.

A plan to be

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Bharat Petroleum Corp's profit nearly halved in the second quarter, well below analysts' expectations, after a unit at its Mumbai refinery was closed by a fire.

Profit in Bharat Petroleum's fiscal second quarter ended September 30 was Rs 1,218 crore ($166 million), down from Rs 2,357 crore a year earlier, the refiner said in a statement on Monday.

Ei

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Mastercard has started storing all India payments transaction data at its technology centre in Pune

New Delhi: 

Global card payments giant Mastercard is storing its new Indian transaction data locally, the company said on Tuesday, as it starts to comply with a regulatory directive which US companies unsuccessfully lobbied hard to dilute.

The Reserve

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In the wake of IL-FS crisis, SBI stepped up in a big way, said SBI Chairman Rajnish Kumar.

NEW YORK: In wake of the IL-FS crisis, efforts are underway by the government, RBI as well as SBI to try and stabilise the system "very quickly", and things are likely to return to normal in a couple of weeks, SBI Chairman Rajnish Kumar said here.

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The RBI has often found itself on opposing sides to government officials this year

A growing rift between the Reserve Bank of India and the government has been many months in the making.

In the latest move, the RBI made its disagreement with authorities public in a hard-hitting speech by Deputy Governor Viral Acharya on Friday -- which he said had

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The government owns 78.3 per cent in the coal miner, according to data on the BSE.

The government will divest a 3-per cent stake in Coal India Ltd by selling up to 18.62 crore shares in the miner, the state-owned company said on Tuesday.

The government has a target to raise a record 1 lakh crore rupees from the sale of state assets in the current

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INR Vs USD: On Monday, the rupee had ended at 73.45 against the US dollar.

The rupee fell 16 paise to 73.61 against the US dollar in early trade on Tuesday, reported news agency Press Trust of India (PTI). Increased demand of the greenback from importers and sustained foreign fund outflows hurt the rupee's sentiment, traders were quoted as saying

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The RBI is pushing against government pressure to relax its policies and reduce the central bank's powers

New Delhi: 

Government officials are very upset with the Reserve Bank of India (RBI) for publicly talking about a rift with the government, fearing it could tarnish the country's image among investors, senior officials said on Monday.

On Friday

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Tech Mahindra said its revenue from operations increased 13.5% to Rs 8,630 crore in Q2

Software services exporter Tech Mahindra posted a better-than-expected 27.3 per cent rise in second-quarter net profit on Tuesday, as it clocked more deals in the July-September period.

Net profit was Rs 1,064 crore ($144.51 million) in the three months ended

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Bank FD interest rate: Banks today pay annual returns up to 9.5 per cent on fixed deposits.

Many banks currently pay interest rates up to 9.5 per cent on term deposits - or fixed deposits (FDs) - up to Rs 1 crore. While major commercial banks pay interest rates in the range of 4-7.75 per cent to customers on FDs, small finance banks offer those

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The offer cannot be clubbed with other ongoing offers on the site, according to SBI

SBI or State Bank of India has announced a discount of Rs 200 on e-commerce platform SaleBhai to users of its mobile app YONO in a limited-period scheme aimed at the festival season. SBI, in a post on microblogging site, said YONO users will get a flat Rs 200 off on

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Jet Airways said it would start the direct service on the Mumbai-Manchester route from November 5

Jet Airways on Tuesday announced addition of two new routes on its international network. The airline will commence non-stop flights between Mumbai and Manchester, and between Pune and Singapore this winter, it said in a press release. Jet Airways said

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Finance minister Arun Jaitley criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech on Tuesday.

"The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Jaitley said while speaking at an event in New Delhi.

Tensions between the finance ministry and the RBI have risen

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Airtel Africa Ltd, a subsidiary of India's Bharti Airtel Ltd, on Monday said preparations for its initial public offering (IPO) are on track.

"The new board is in place with new investors' representatives and we remain very confident about the IPO process," Airtel Africa said, responding to media reports that had stated that the IPO would be

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The rupee is set to finish the month with a loss of more than 1.5% against the dollar

The rupee declined by 23 paise against the dollar to close at 73.68 on Tuesday. Demand for the greenback from importers amid softening crude oil prices dragged the rupee lower. A rise in the dollar overseas and weakness in

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Stock Market Today: HCL Tech, Yes Bank, Grasim Industries, GAIL, and Infosys were the top Nifty gainers.

The domestic share markets traded in the green amid choppy trade on Tuesday. At 10:20 am, the S-P BSE Sensex traded at 34,151.71, up 84.31 points or 0.25 per cent and the Nifty50 barometer of the National Stock Exchange (NSE) was at

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Sovereign gold, however, rose by Rs 100 to Rs 24,800 per piece of eight grams.

Gold prices remained unchanged Monday and stood at Rs 32,550 per 10 grams at the bullion market mainly due to lower demand and tepid trend overseas. Silver, however, fell by Rs 100 to Rs 39,500 per kg from Rs 39,600 per kg on Saturday. In the national capital, gold of

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Caution prevailed in the markets a day after key indices rose around 2% each

Stock markets reversed early gains on Tuesday as losses in energy and metal stocks offset strength in IT shares. BSE benchmark index Sensex shed 176 points, or 0.5 per cent, to end at 33,891, while NSE's Nifty settled just shy of

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INR Vs USD: On Monday, the rupee had ended at 73.45 against the US dollar.

The rupee fell 16 paise to 73.61 against the US dollar in early trade on Tuesday, reported news agency Press Trust of India (PTI). Increased demand of the greenback from importers and sustained foreign fund outflows hurt the rupee's sentiment, traders were quoted as saying

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From Wednesday, SBI Classic debit card users will be able to take out a maximum of Rs 20,000/day from ATM

Customers of the State Bank of India (SBI) cannot withdraw more than Rs 20,000 a day, from Wednesday, October 31. The cash withdrawal limit on the SBI Classic debit card has been halved from Rs 40,000

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Sovereign gold rose by Rs 100 to Rs 24,900 per piece of eight gram.

Gold prices strengthened by Rs 70 to Rs 32,620 per 10 gram on Tuesday amid pick-up in festive demand, reported news agency Press Trust of India (PTI). Bullion traders said that due to the upcoming Diwali festival there has been a rise in gold coin demand. In Delhi, gold of 99.99

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Modi's government is pushing the central bank to relax lending norms for small businesses.

Government officials are very upset with the central bank for publicly talking about a rift with the government, fearing it could tarnish the country's image among investors, senior officials said on Monday.

On Friday night, Reserve Bank of India (RBI) Deputy

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From Wednesday, SBI Classic debit card users will be able to take out a maximum of Rs 20,000/day from ATM

Customers of the State Bank of India (SBI) cannot withdraw more than Rs 20,000 a day from Wednesday, October 31. The cash withdrawal limit on the SBI Classic debit card has been halved from Rs 40,000

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