Indian business news: August 2019

Saturday, August 31, 2019

Auto Sales May Plunge Up To 30% In August: Poll

As per SIAM figures, domestic passenger car sales in July plunged by 35.95 per cent to 122,956 units against 191,979 units sold in July 2018.

from NDTV Profit - Latest https://ift.tt/2PwNhIc

SBI Repo-Linked Home Loan Rate Falls From Today, Details Here

A repo rate-linked home loan means that any changes in the key interest rate by the central bank are passed on directly to the customers.

from NDTV Profit - Latest https://ift.tt/2ZC95G8

Macro Data, Auto Sales Figures To Impact Equity Indices: Analysts

Trends in global markets and the rupee's movement against the US dollar will also dictate trend of key indices, said the report.

from NDTV Profit - Latest https://ift.tt/2LgikE6

PNB's Board To Meet Soon On Merger With Oriental Bank, United Bank

The bank has received a communication from the Ministry of Finance that the alternative mechanism after consultation with Reserve Bank of India (RBI) has decided that Punjab National Bank, Oriental...

from NDTV Profit - Latest https://ift.tt/32lNMXd

Bank Merger Will Not Help Recover Bad Loans:Bank Employees' Association

The government on Friday announced a mega plan to merge 10 state-run public sector banks into four large entities to address economic concerns.

from NDTV Profit - Latest https://ift.tt/30Nr8X9

HDFC Bank Revises Fixed Deposit Interest Rates

On fixed deposits of a one-year maturity period, the private sector bank has lowered its interest rates by 20 basis points.

from NDTV Profit - Latest https://ift.tt/2ZC67RU

Income Tax Returns (ITR) Filing Deadline Ends Today. Ten Things To Know

The deadline for filing income tax returns for assessment year 2019-20 (financial year 2018-19) ends today. It is compulsory for individuals earning a specified amount of income in a year to file...

from NDTV Profit - Latest https://ift.tt/2LbYGJ9

Mega Bank Merger " A Big Bang Step", Says Uday Kotak

The Punjab National Bank, Oriental Bank of Commerce and United Bank will merge to form the country's second largest public sector bank with a business of Rs.17.95 lakh crore, Finance Minister Nirmala...

from NDTV Profit - Latest https://ift.tt/2ZE3dfu

As Growth Slumps To 6-Year Low, Goldman Sachs Predicts Deeper Rate Cuts

Sovereign bonds fell in August, with the yield on benchmark 10-year notes rising by 19 basis points amid worries the government may borrow more to finance any potential fiscal stimulus to boost a...

from NDTV Profit - Latest https://ift.tt/2ZqasbO

What Small Manufacturers Say About New Foreign Investment Rules

Contract manufacturing is the outsourcing of part of the manufacturing process of a product to a third-party, specializing in design, production, assembly and distribution.

from NDTV Profit - Latest https://ift.tt/2zzGNgW

IndiGo Announces New International Flights, Fare Details Here

The new flights are designed to cater to business and leisure travellers, who are constantly on the lookout for new and affordable flying options, the airline said in a statement.

from NDTV Profit - Latest https://ift.tt/2Zs8szG

Friday, August 30, 2019

Indebted IL&FS Gets Binding Bids For 10 Road Assets

IL&FS, a major infrastructure financing and construction company, collapsed late last year after a series of defaults that triggered fear of contagion in India's financial sector and forced the...

from NDTV Profit - Latest https://ift.tt/2ZDUD0q

Government To Infuse Rs 55,250 Crore In 10 State-Run Banks

Ms Sitharaman also said that loan recovery of PSU banks was at record levels as Rs 1.21 lakh crore was recovered by the banking system.

from NDTV Profit - Latest https://ift.tt/2MOmR2f

"Overall Recovery May Take Couple Of Quarters": Experts On GDP Growth

India's economy had annual growth of 5.0 per cent in the April-June quarter, the slowest in more than six years.

from NDTV Profit - Latest https://ift.tt/2NFiu9p

Gold Prices Fall By Rs 500 On Easing Demand

Globally, gold was trading lower at $1,526.80 an ounce in New York, while silver was up at $18.52 an ounce.

from NDTV Profit - Latest https://ift.tt/2NJOk4X

India's Economic Growth At 6-Year Low, GDP Expands 5% In June Quarter

India's economic growth expanded at its slowest pace in over six years, government data on Friday showed. The economy grew at 5 per cent in the first quarter of current financial year compared with...

from NDTV Profit - Latest https://ift.tt/2PFqtpV

DHFL Board Approves Plan To Convert Debt Into Equity

DHFL's struggles also come as the domestic banking sector still grapples with nearly $150 billion of stressed assets.

from NDTV Profit - Latest https://ift.tt/2PFnvSj

4 Mega State-Run Bank Mergers Announced by Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank. Speaking on consolidation of the three public sector banks, Ms...

from NDTV Profit - Latest https://ift.tt/2LgQUN8

GDP Data To Be Released Shortly

The poll median showed the economy was expected to have grown at a year-on-year pace of 5.7 per cent in the June quarter, a touch slower than 5.8 per cent in the preceding three months.

from NDTV Profit - Latest https://ift.tt/2PoaoV6

Loan Recoveries Have Hit Recover Levels: Nirmala Sitharaman

The Finance Minister said gross non-performing assets (NPAs) - or bad loans - have come down from Rs 8.65 lakh crore to Rs 7.90 lakh crore.

from NDTV Profit - Latest https://ift.tt/2zwRnVV

April-July Fiscal Deficit Crosses 77% Of Budgeted Target

Net tax receipts in the first four months of the fiscal year were Rs 3.39 lakh crorerupees, while total expenditure was Rs 9.47 lakh crore rupees, government data showed.

from NDTV Profit - Latest https://ift.tt/34exXD9

Sensex, Nifty Snap Two-Day Losing Streak Led By HDFC, ICICI Bank

The Sensex ended 264 points or 0.7 per cent higher at 37,333 and the Nifty 50 index climbed 75 points or 0.7 per cent to close at 11,023.

from NDTV Profit - Latest https://ift.tt/2NCL5fH

No Extension In August 31 Due Date To File Return: Income Tax Department

The first deadline to file the ITR was July 31, which was extended to August 31 after the taxpayers faced issues in filing the ITR.

from NDTV Profit - Latest https://ift.tt/30KZ0nx

GDP Growth Likely Stood at 5.7% In June Quarter: 10 Things To Know

The government will today release data on GDP or gross domestic product for the quarter ended June 30 today. Many economists expect the data to show that the expansion in India's GDP slowed for a...

from NDTV Profit - Latest https://ift.tt/2Ztl0H9

Sensex Recovers 489 Points From Day's Low Led By Banks

Nine of 11 sector gauges compiled by National Stock Exchange were trading higher led by the Nifty FMCG index's 1.4 per cent gain.

from NDTV Profit - Latest https://ift.tt/2LfsO5n

Adani Green Energy To Buy Essel Group's Solar Assets

Gautam Adani-led by Adani Group's Adani Energy has signed an agreement to buy solar assets of Essel Group, Adani Green Energy said in an exchange notification.

from NDTV Profit - Latest https://ift.tt/2L79jNi

SBI To Offer New Repo-Linked Home Loan Rates From September 1

State Bank of India (SBI), the country's largest bank, recently announced the launch of repo-linked home loans at interest rates starting from 8.05 per cent. The new interest rates will be applicable...

from NDTV Profit - Latest https://ift.tt/30LnrRV

Thursday, August 29, 2019

Sensex Plunges Over 450 Points From Day's High: Five Things To Know

Extending losses to a third day running, domestic stock markets registered sharp losses in late morning deals on Friday ahead of the release of macroeconomic data by the government. The S&P BSE Sensex...

from NDTV Profit - Latest https://ift.tt/2MKH3Cq

India's Growth Slowdown Set to Deepen as Consumers Buckle

Finance Minister Nirmala Sitharaman is still considering whether to use the windfall from the central bank to cut borrowings or boost spending.

from NDTV Profit - Latest https://ift.tt/2Zz9AMX

Rupee Advances To 71.62 Against Dollar: 10 Things To Know

The rupee rose by as much as 18 paise against the US dollar on Friday. The rupee opened higher at 71.76 against the greenback, and climbed to as high as 71.62 at one point by late morning deals....

from NDTV Profit - Latest https://ift.tt/3495i2t

Sensex Rises Over 150 Points, Nifty Hits 11,000 Mark

The government will release GDP or gross domestic product data for the quarter ended June 30 after market hours.

from NDTV Profit - Latest https://ift.tt/2MKAn7d

Mukesh Ambani's Jio May Control 45% Of Market By 2022: India Ratings

Mukesh Ambani stormed into the industry in 2016 and has bet his carrier can outlast rivals while offering some of the lowest prices for services and handsets.

from NDTV Profit - Latest https://ift.tt/2zyV3qd

Currency In Circulation Jumps 17% To Over Rs 21 Lakh Crore In FY19: RBI

The demand for the Rs 500 bill has soared the highest and now accounts for over 51 per cent of the value of currency in circulation, said the report.

from NDTV Profit - Latest https://ift.tt/2ZB850O

With New FDI Rules, India Seeks To Gain From US-China Trade War: Report

The Sino-US trade war has also rattled global automotive supply chains and affected big automakers.

from NDTV Profit - Latest https://ift.tt/2PCIhSz

More Measures To Be Announced To Propel Economic Growth: Finance Minister

The government on Friday eased FDI rules in digital media, single brand retail, coal-mining and contract manufacturing.

from NDTV Profit - Latest https://ift.tt/2PnMTvF

Contingency Fund Falls To Rs 1.96 Lakh Crore After Payout To Centre: RBI

The balance in the contingency fund as of June 30, 2019 was Rs 1,96,344 crore compared to Rs 2,32,108 crore as of June 30, 2018, RBI said.

from NDTV Profit - Latest https://ift.tt/2ztvarJ

"Soft Patch Mutating Into A Cyclical Downswing": RBI On Slowing Growth

The RBI report said reviving consumption and private investment have assumed the "highest priority" now for all.

from NDTV Profit - Latest https://ift.tt/2Lj7UlG

Bank Frauds Jump 74% To Rs 71,543 Crore In FY19, Says RBI

The average lag between the date of occurrence of frauds and its detection by banks was 22 months, the Reserve Banks said.

from NDTV Profit - Latest https://ift.tt/342lYsm

SBI Credit Card Business Plans Rs 8,000-Crore IPO: Report

At the end of March 31, 2019, SBI Card, which is 74 per cent owned by SBI and 26 per cent by US private equity firm Carlyle Group, had total assets worth Rs 19,593 crore.

from NDTV Profit - Latest https://ift.tt/32hzkQ1

Hurry! Last 2 Days Left To File Your Income Tax Return (ITR)

The due date for assessees to file their income tax return (ITR) for assessment year 2019-20 (financial year 2018-19) is August 31. The Income Tax Department has provided seven ITR forms to enable...

from NDTV Profit - Latest https://ift.tt/2zujWTP

Gold Tops Rs 40,000-Mark For The First Time: 10 Things To Know

Gold prices crossed the Rs 40,000 per 10 grams level for the first time in Delhi on Thursday. Continuing its record-breaking run for the second session, gold prices jumped by Rs 250 to an all-time...

from NDTV Profit - Latest https://ift.tt/30GCUTa

Sensex Slumps 383 Points, Nifty Settles Below 10,950 As Financials Drag

Seven of 11 sector gauges compiled by National Stock Exchange ended lower led by the Nifty PSU Bank Index's 2.5 per cent fall.

from NDTV Profit - Latest https://ift.tt/2ZpkSIo

FDI Norms Eased To Make India A More Attractive Investment Destination

In its bid to push investments and revive growth, the Union Cabinet on Wednesday eased FDI or foreign direct investment norms in four sectors. Allowing 100 per cent foreign investment in coal mining...

from NDTV Profit - Latest https://ift.tt/2UaDNAU

Economic Growth Seen Slipping In April-June, More Stimulus Expected: Poll

If the latest number for expansion of gross domestic product is 5.7 per cent or less, the quarter had the slowest expansion in 21 quarters, since 5.3% in January-March 2014.

from NDTV Profit - Latest https://ift.tt/2Ldx1GG

Forever 21 Prepares For Potential Bankruptcy Filing: Report

Forever 21 is one of the biggest mall tenants still standing after a wave of bankruptcies in the retail sector.

from NDTV Profit - Latest https://ift.tt/2zvgcla

Sensex Seen Hitting 39,800 By June 2020: Poll

The poll of over 50 strategists taken over the past week showed the Sensex will gain 2% to 38,400 by end-2019 from Tuesday's close of 37,641.27.

from NDTV Profit - Latest https://ift.tt/2L0OOC2

IndianBulls Housing Finance Shares Plunge 8% After Nifty50 Exclusion

At 1:42 pm, Indiabulls Housing Finance shares were trading lower 4.96 per cent at Rs 434.55 on the NSE.

from NDTV Profit - Latest https://ift.tt/2ZwPe7k

Yes Bank Shares Fall Over 7% After Moody's Downgrade

On the National Stock Exchange (NSE), Yes Bank shares opened lower at Rs 59.25 apiece and dropped to as much as Rs 55 apiece, marking a decrease of 7.56 per cent.

from NDTV Profit - Latest https://ift.tt/2L0OTpf

CG Power Board Removes Gautam Thapar As Chairman

On August 19, CG Power's Risk and Audit Committee had raised red flags on five counts which were prejudicial to the company.

from NDTV Profit - Latest https://ift.tt/2L0LUNz

Sensex Drops Over 300 Points, Nifty Breaks 10,950 As Banks Drag

Sixteen of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Bankex index's 1.6 per cent fall.

from NDTV Profit - Latest https://ift.tt/2Le5lBB

Wednesday, August 28, 2019

Rupee Moves Lower To 72.04 Against Dollar: 10 Things To Know

The rupee fell as much as 27 paise against the dollar on Thursday. Analysts said weak domestic stock markets and persistence foreign fund outflows led to the declines in the local currency. Pessimism...

from NDTV Profit - Latest https://ift.tt/2L1tEU9

Apple To Start Online Sales "Within Months" After New FDI Rules: Report

Selling online will be a big step forward for Apple in a country where counterfeit products abound in online platforms increasing buyers' distrust.

from NDTV Profit - Latest https://ift.tt/2ZzYS90

Google To Shut Down Online Job Service 'Hire': 5 Things To Know

"Hire" came into existence after Google acquired Bebop -- a company started by Greene -- for a reported $380 million in 2015.

from NDTV Profit - Latest https://ift.tt/2ZGboYY

Sensex Falls Over 250 Points, Nifty Slides Below 11,000

The Sensex and Nifty had finished 189.43 points - or 0.50 per cent - and 59.25 points - or0.53 per cent - on Wednesday.

from NDTV Profit - Latest https://ift.tt/2Hw7R5c

"India's A Big Market": Coming Soon, Tiffany Stores In Delhi, Mumbai

Tiffany will start with two stores -- one in New Delhi and another in Mumbai -- that will carry the same assortment of silver and gold bracelets, necklaces and rings available in other markets, along...

from NDTV Profit - Latest https://ift.tt/2Pl5QPw

Government Eases Local Sourcing Rules In Single Brand Retail

Commerce Minister Piyush Goyal said the 30 per cent local sourcing norms in single-brand retail remains, but its definition has been expanded.

from NDTV Profit - Latest https://ift.tt/32bqa7r

Task Force Recommends New Income Tax Slabs For Individuals: Report

People earning between Rs 5 lakh and Rs 10 lakh per year may have to pay 10% income tax, if the recommendations of the tax force are accepted.

from NDTV Profit - Latest https://ift.tt/2PhMjiN

Foreign Investment Norms Eased For Digital Media, Coal Mining

The government approved FDI in digital media wherein foreign investor can buy 26 per cent stake in a digital media company with its approval.

from NDTV Profit - Latest https://ift.tt/321ON6y

Rupee Closes Lower At 71.77 Against Dollar: 10 Things To Know

The rupee on Wednesday fell 29 paise against the US dollar. The depreciation in the home currency came on fears of an impending global recession which prompted investors to stick to safe-haven assets...

from NDTV Profit - Latest https://ift.tt/2ZwUtHY

How To Check Provident Fund (PF) Balance, View Passbook

In an EPF account, the employee contributes 12 per cent of his or her salarytowards the account, and an equal amount is contributed by the employer, according to the EPF website - epfindia.gov.in.

from NDTV Profit - Latest https://ift.tt/2LdTYcH

Fitch Firm Lowers GDP Growth Forecast To Six-Year Low At 6.7%

With most engines of growth stuttering, the economic slowdown would continue and the April-June GDP figure could slip to 5.7 per cent.

from NDTV Profit - Latest https://ift.tt/32bEigO

Gold Resumes Record Breaking Spree After A Day's Break

Resuming its record run, gold prices hit an all-time high of Rs 39,970 per 10 grams in Delhi on Wednesday. The prices of yellow metal jumped by Rs 300 on higher demand from jewellers and the gold's...

from NDTV Profit - Latest https://ift.tt/2Hw1f6A

Periodic Maintenance Can Increase The Life Of Your Car. Here's How!

While the initial service is more of a precautionary check, your first major service comes up at 10,000 km, as recommended by most carmakers.

from NDTV Profit - Latest https://ift.tt/32aBz7E

CARE Downgrades Credit Rating Of Coffee Day Global's Bank Facilities

For the month ending June 30, the company had reported gross debt of Rs 706 crore which steeply increased to Rs 1,097 crore as on July 31.

from NDTV Profit - Latest https://ift.tt/2LjrpuG

Moody's Cuts Yes Bank Ratings With "Negative" Outlook

Moody's expects the bulk of Yes Bank's operating profits will get consumed by loan loss provisions over the next 12 to 18 months, and thus not support internal capital generation.

from NDTV Profit - Latest https://ift.tt/2ZmHWb3

Sensex, Nifty Snap Three-Day Winning Streak As Banks Drag

Eight of 11 sector gauges compiled by National Stock Exchange ended lower led by Nifty Metal index's over 3 per cent decline.

from NDTV Profit - Latest https://ift.tt/30CbMES

ICICI Bank Deploys Robotic Arms To Count Currency Notes

These Robotic Arms are currently functioning at Mumbai, and Sangli (Maharashtra), New Delhi, Bengaluru and Mangaluru (Karnataka), Jaipur, Hyderabad, Chandigarh, Bhopal, Raipur, Siliguri and Varanasi,...

from NDTV Profit - Latest https://ift.tt/2MOMuQT

Moody's Changes Outlook For Asian Steel Producers To "Negative"

Prices of iron ore and coking coal, two key steelmaking inputs, have surged by more than 60 per cent and 20 per cent in the year to June 2019.

from NDTV Profit - Latest https://ift.tt/2ZqNhhC

Sensex, Nifty Extend Losses As Banking, Metal Shares Drag

Eight of 11 sector gauges compiled by National Stock Exchange were trading lower led by the Nifty Metal index's 3.2 per cent fall.

from NDTV Profit - Latest https://ift.tt/2Pi0NiQ

IndiGo Offers Flight Tickets From Rs 1,298, Details Here

IndiGo sale: Passengers can book tickets under the scheme - which is valid for travel till March 28, 2020 - till August 30.

from NDTV Profit - Latest https://ift.tt/2HwxUZP

Fake-Branded Bars Slip Dirty Gold Into World Markets

Gold bars fraudulently stamped with the logos of major refineries are being inserted into the global market to launder smuggled or illegal gold.

from NDTV Profit - Latest https://ift.tt/2NyGmM1

Indian Oil Plans Rs 2 Lakh Crore Investment By 2023-24: Chairman

IOC through its 11 refineries controls about a third of country's 5 million-barrel-per-day (bpd) refining capacity.

from NDTV Profit - Latest https://ift.tt/2MFLkH2

Sensex Drops Over 200 Points As Markets Break 3-Day Winning Run

Domestic stock markets registered sharp losses as a selloff in financial and metal stocks deepened in late morning deals on Wednesday, breaking three consecutive days of gains in which the benchmark...

from NDTV Profit - Latest https://ift.tt/2NHGmsW

Tuesday, August 27, 2019

Rate Cuts Not Enough To Re-Fire Damp Housing Market: Poll

A majority of respondents in the August13-27 survey said risks to those already-modest predictions were skewed more to the downside.

from NDTV Profit - Latest https://ift.tt/2PhQsTQ

Income Tax Return (ITR) Filing Deadline Ends In 3 Days: 10 Things To Know

Only three days are left to file income tax returns (ITR) for assessment year 2019-20(financial year 2018-19). It is compulsory for individuals who earn a specified amount of annual income to file ITR...

from NDTV Profit - Latest https://ift.tt/2HwilRT

Sensex, Nifty Turn Flat Amid Choppy Trade

The Sensex had climbed 1,168.34 points - or 3.20 per cent - and the Nifty risen 364.00 points - or 3.39 per cent - in the past three sessions.

from NDTV Profit - Latest https://ift.tt/2LaPXWs

What Government Can Do With Rs 1.76 Lakh Crore Windfall From RBI

Finance Minister Nirmala Sitharaman last week announced various measures to spur growth, including hastening the capital infusion into state-run lenders.

from NDTV Profit - Latest https://ift.tt/2PgD7vb

Rupee Set For Worst Monthly Loss In 6 Years

Weak fundamentals aside, the currency is also in a seasonally weak month. The rupee has slid an average 2.3 per cent in August over the past nine years, data compiled by Bloomberg show. Yet this time,...

from NDTV Profit - Latest https://ift.tt/2PihGtI

Can't Say How Funds From RBI Will Be Utilised: Nirmala Sitharaman

A day after the Central Board of Reserve Bank of India decided to payout Rs 1.76 lakh crore from its reserve and surplus to the government of India, Finance Minister Nirmala Sitharaman on Tuesday said...

from NDTV Profit - Latest https://ift.tt/342fYQv

IndiGo Promoters' Feud: All Third Party Deals Clean, Says CEO

IndiGo is the country's largest private carrier with nearly 50 per cent market share on local routes.

from NDTV Profit - Latest https://ift.tt/345jGbR

Relief Package For Real Estate Sector Expected This Week: Report

The government could make changes to the definition of affordable housing as sought by developers so that more projects can come under the category.

from NDTV Profit - Latest https://ift.tt/2zqehhw

Rupee Posts Biggest Single-Day Gain In 5 Months Against Dollar

The rupee climbed by 54 paise against the US dollar to settle at 71.48 on Tuesday, recovering from a more than nine-month closing low registered in the previous session. With today's jump, the rupee...

from NDTV Profit - Latest https://ift.tt/2Zu0DJ6

Can't Say How Funds From RBI Will Be Utilised: Nirmala Sitharaman

The record transfer will boost the government's finances at a time it strives to tackle a nearly five-year low economic growth.

from NDTV Profit - Latest https://ift.tt/2Pd9ta7

Rs 1.76 Lakh Crore RBI Transfer Positive For Economy: Soumya Kanti Ghosh

The transfer of surplus and excess dividend is in line with the recommendations of the Bimal Jalan Committee, which was tasked to review the Economic Capital Framework of the RBI.

from NDTV Profit - Latest https://ift.tt/2Zy54yB

SpiceJet Announces Sale, Offers Flights Tickets From 1,299 Rupees

Under SpiceJet's scheme, which is valid for travel till March 31, 2019, flight tickets can be booked till August 30.

from NDTV Profit - Latest https://ift.tt/2Zg76bc

Sensex, Nifty Gain For Second Straight Day; Tata Motors Surges 9%

Eight of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty PSU Bank index's 2.5 per cent gain.

from NDTV Profit - Latest https://ift.tt/2MDYKU4

Infosys Closes Rs 8,260 Crore Buyback Offer; Shares Fall

In January, the company had announced that it will buy back shares for an amount aggregating up to Rs 8,260 crore (maximum buyback size).

from NDTV Profit - Latest https://ift.tt/2Ztbdjy

Sensex, Nifty Off Day's Highs; Infosys, TCS Top Drags

Sixteen of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Utilities index's 2 per cent gain.

from NDTV Profit - Latest https://ift.tt/2U41DOW

Bonds At Three-Week High, Rupee Gains After RBI Payout To Government

The benchmark 10-year bond yield was at 6.44 per cent, down 4 basis points (bps) on the day after having earlier dropped to a low of 6.35 per cent, its lowest since August 7.

from NDTV Profit - Latest https://ift.tt/33ZOY46

India GDP Growth Seen At 5-Year Low Of 5.7% In June Quarter: Poll

Monday, August 26, 2019

Maruti Suzuki Cuts 3,000 Contractual Jobs

Safety norms and higher taxes have "added substantially" to the cost of cars, affecting their affordability.

from NDTV Profit - Latest https://ift.tt/2U51FG6

Headwinds To Persist Before India Growth Rises To 6.8% Next Year: Moody's

Moody's has cut India's GDP growth forecast for the calendar year 2019 to 6.2 per cent from its previous estimate of 6.8 per cent. For calendar year 2020, it reduced the estimate to 6.7 per cent.

from NDTV Profit - Latest https://ift.tt/30BZnAU

Sensex Up 200 Points, Nifty Firm Above 11,100: 10 Things To Know

The S&P BSE Sensex and NSE Nifty 50 indexes were trading firmly higher after the Reserve Bank of India's central board decided to payout Rs 1.76 lakh crore of excess funds to the central government....

from NDTV Profit - Latest https://ift.tt/2zmQorf

RBI To Make Rs 1.76-Lakh-Crore Payout To Government: 10 Things To Know

The Reserve Bank of India's Central Board on Friday decided on a payout of Rs 1.76 lakh crore to the government, after an expert committee chaired by former Governor Bimal Jalan made its...

from NDTV Profit - Latest https://ift.tt/2MFRGWR

Sensex Rises 200 Points, Nifty Tops 11,100

The Sensex and Nifty indexes had on Monday finished 2.16 per cent and 2.11 per cent higher respectively, in their biggest single-day gain since May 20.

from NDTV Profit - Latest https://ift.tt/342Mq5i

Deutsche Bank, Amid Job Cuts, On Biggest Bout Of Hiring In India In Years

Deutsche Bank started its India operations in 1980 and now has about 1,800 employees in businesses including retail and wholesale banking, investment-banking advisory and wealth-management services.

from NDTV Profit - Latest https://ift.tt/30BnzmJ

RBI's Rs 1.76 Lakh Crore Payout To Help Government Manage Fiscal Deficit

Finance Minister Nirmala Sitharaman last week announced various steps to spur growth including hastening capital infusion in state-run lenders even as she strives to meet a narrower fiscal gap goal of...

from NDTV Profit - Latest https://ift.tt/2ZCWOS1

Last Date To File GST Annual Returns Extended Till November 30

Earlier, GST taxpayers were to file required returns by August 31.

from NDTV Profit - Latest https://ift.tt/2NyZ0mM

RBI Approves Surplus Transfer Of Rs 1.76 Lakh Crore To Government

The amount of transfer this year is more than double the Rs 68,000 crore that it provided in the previous year.

from NDTV Profit - Latest https://ift.tt/2ZtmCeS

Global Investors Keen On Rupee Denominated Assets: RBI

The onshore markets are fairly deep and liquid but needs further strengthening, said RBI Deputy Governor BP Kanungo.

from NDTV Profit - Latest https://ift.tt/2NDM7rX

RBI To Transfer Rs 1.76 Lakh Crore To Government

The Reserve Bank follows a July-June financial year and the dividend is usually distributed in August after annual accounts are finalised.

from NDTV Profit - Latest https://ift.tt/30GIW6w

Rupee Depreciates Past 72 Against Dollar, Ends At Over 9-Month Low

The rupee on Monday declined by 36 paise and closed to an over nine-month low. The rupee opened lower at 72.03 and fell to an intraday low of 72.25 against the greenback. The rupee settled at 72.02...

from NDTV Profit - Latest https://ift.tt/2NxknoL

RBI Employees Ask To Seek Consensus On Bimal Jalan Panel Report

The panel's report states how much reserves the RBI should retain and also the dividend payment to the government.

from NDTV Profit - Latest https://ift.tt/2NrYiIa

Gold Prices Top Rs 39,000 As Bull Run Continues: 10 Things To Know

Gold prices rose for the fifth straight day on Monday and continued its record-setting spree. Gold prices hit a new record high of Rs. 39,670 per 10 grams in Delhi. The prices jumped by Rs. 675 on the...

from NDTV Profit - Latest https://ift.tt/2LaKKhk

Sensex, Nifty Clock Biggest Gain In 3 Months On Steps To Shore Up Economy

Finance Minister Nirmala Sitharaman on Friday said the government would withdraw higher taxes on foreign portfolio investors.

from NDTV Profit - Latest https://ift.tt/2Nwjc8Y

GDP Growth Pegged At 6% In June Quarter: Industry Body Survey

Furthermore, the annual median GDP growth forecast for 2019-20 has been pegged at 6.9 per cent, with a minimum and maximum estimate of 6.7 per cent and 7.2 per cent, respectively.

from NDTV Profit - Latest https://ift.tt/2ZqjnJd

Rs 70,000 Crore Infusion In PSU Banks To Push Loan Growth By 15%: Moody's

Moody's estimates that fresh capital will enable PSU banks to grow loans by around 13-15% in 2019-20, compared with about 10% in fiscal year 2019.

from NDTV Profit - Latest https://ift.tt/2ZrH0gv

State-Run Banks Surge On Rs 70,000 Crore Recapitalisation Drive

The Nifty PSU Bank index, which comprises stocks of the government-owned lenders, jumped as much as 6.46 per cent on Monday.

from NDTV Profit - Latest https://ift.tt/2HqWE5B

Sensex Surges Over 500 Points After Government Takes Steps To Spur Growth

Nine of 11 sector gauges compiled by National Stock Exchange were trading higher led by the Nifty PSU Bank Index's 3 per cent gain.

from NDTV Profit - Latest https://ift.tt/2PoTSnM

Sunday, August 25, 2019

Amrapali Case: Supreme Court Orders Disbursement Of Rs 7 Crore To NBCC

The court also directed the Noida and Greater Noida authorities to comply with its earlier order.

from NDTV Profit - Latest https://ift.tt/2HqDgpw

Rupee Declines By 51 Paise To Hit New 2019 Low Against Dollar

The rupee opened lower against the US dollar at 72.03 on Friday, and declined by as much as 51 paise to hit 72.17 in morning deals. That marked the lowest intraday level recorded for the rupee so far...

from NDTV Profit - Latest https://ift.tt/33Zq7gM

Rupee Slips By 42 Paise To 72.08 Against Dollar

At the Interbank Foreign Exchange, the rupee opened at 72.03 then fell to 72.08 against the US dollar, showing a decline of 42 paise over its previous closing.

from NDTV Profit - Latest https://ift.tt/2MDK73g

Sensex Jumps Over 350 Points, Nifty Tops 10,900 Mark

Finance Minister Nirmala Sitharaman on Friday announced a slew of measures to revive the economy, which registered its lowest rate of growth in nearly five years in the March quarter.

from NDTV Profit - Latest https://ift.tt/2MEIqCE

China's Yuan Hits 11-Year Low Amid Trade Tensions

The plunge past 7.0 prompted Washington to officially brand Beijing a "currency manipulator". China's central bank has "resolutely opposed" the label.

from NDTV Profit - Latest https://ift.tt/2zj3INr

In IndiGo Feud, A Move Towards Truce Between Billionaire Co-Founders

Rakesh Gangwal now intends to support a move to expand the company's board to 10 directors at its annual general meeting scheduled for August 27, reversing his earlier stance.

from NDTV Profit - Latest https://ift.tt/30zlurE

Nifty Futures Indicate Positive Start For Markets Today

The Sensex and Nifty had ended 0.63 per cent and 0.82 per cent higher on Friday,snappinga three-day losing streak.

from NDTV Profit - Latest https://ift.tt/2MBda7i

New Measures To Help Economy Grow In Coming Months: Industry Body

CII also said that removal of the surcharge on FPIs and amendments to the FPI regulations is expected to boost investor sentiments.

from NDTV Profit - Latest https://ift.tt/322wMF2

SBI Tax Savings Scheme: Eligibilty, Interest Rate And Other Details

The minimum tenure for SBI Tax Savings Scheme, 2006, is five years which can go up to a maximum of 10 years.

from NDTV Profit - Latest https://ift.tt/2Nvumeb

India Needs Single Corporate Tax Rate Of 25%: KPMG

The government recently announced that tax rates for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent.

from NDTV Profit - Latest https://ift.tt/2L5i9tJ

Minimum Balance Rules Of Top Public, Private Banks Explained Here

Banks also charge a penalty from the customers failing to maintain the required average monthly balance in their savings accounts.

from NDTV Profit - Latest https://ift.tt/321jKYw

More Measure Needed To Tackle Economic Slowdown: Report

According to the report, more measures might be needed to give a fresh start to the lending cycle of non-banking financial companies (NBFCs).

from NDTV Profit - Latest https://ift.tt/2HDCbLh

RBI Board May Discuss Dividend Payment To Government On Monday: Report

The RBI follows July-June financial year and the dividend is usually distributed in August after annual accounts are finalised. For FY20, the government has pegged a Rs 9,000 crore dividend from the...

from NDTV Profit - Latest https://ift.tt/2PbJC2l

Post Office National Savings Certificates: Eligibility And Other Details

Deposits in the post office National Savings Certificate also qualify for deduction under Section 80C of the Income Tax Act.

from NDTV Profit - Latest https://ift.tt/2Lae07M

Saturday, August 24, 2019

Economic Growth Measures, Crude Oil Prices To Guide Markets: Experts

In one of the measures, the government on Friday rolled back higher surcharge on foreign and domestic portfolio investors.

from NDTV Profit - Latest https://ift.tt/2Hq9iBS

PM Modi Launches RuPay Card in United Arab Emirates

RuPay card scheme was launched in 2012 to fulfil the Reserve Bank of India's vision to have a domestic, open and multilateral system of payments.

from NDTV Profit - Latest https://ift.tt/2ZbfSal

Government Clarifies On Foreign Investors Surcharge, Experts Say Benefits Limited

The decision to roll-back surcharge came weeks after FPIs turned net sellers of stocks after levy of surcharge in the Union budget.

from NDTV Profit - Latest https://ift.tt/2ZkEiJT

Conditions Under Which You Can Withdraw From Your Employees' Provident Fund (EPF) Account

The subscribers can put a claim for 'advance' withdrawal online via EPFO's website - unifiedportal-mem.epfindia.gov.in.

from NDTV Profit - Latest https://ift.tt/31ZJT9Z

SBI Revises Fixed Deposit Interest Rates, Details Here

The bank will now offer an interest rate of 4.5per cent to general public and 5 per cent to senior citizens on fixed deposits of 7-45 days. Currently, the public sector bank paysinterest at the rate...

from NDTV Profit - Latest https://ift.tt/2MAJya2

Former Finance Minister Arun Jaitley Dies At 66

Mr Jaitley, 66, a senior leader of the Bharatiya Janata Party (BJP), stepped down as finance minister in January due to ill health, just months before elections.

from NDTV Profit - Latest https://ift.tt/33UNurR

Have You Filed Your Income Tax Return? The Deadline Is 7 Days Away

Filing the income tax return after the due date, which is August 31, 2019, will invite penalties from the income tax department, amount ranging from Rs. 5,000 to Rs. 10,000 depending on the degree of...

from NDTV Profit - Latest https://ift.tt/2zeZyGj

IndiGo Announces New International Flights, Check Details Here

Bookings for the new routes are available on IndiGo's official website- goindigo.in, the carrier said in the statement.

from NDTV Profit - Latest https://ift.tt/2TYVX8C

Friday, August 23, 2019

Government Withdraws Enhanced Surcharge On Foreign Investors: 10 Points

Finance Minister Nirmala Sitharaman on Friday announced a slew of measures, including the rollback of big ticket budget announcements, to revive the economy, which clocked its lowest rate of growth in...

from NDTV Profit - Latest https://ift.tt/2ZjHdCA

Withdrawal Of Surcharge On Foreign Investors A Big Positive: Experts

The government announced measures to revive economic growth and markets including withdrawal of higher taxes for foreign portfolio investors.

from NDTV Profit - Latest https://ift.tt/2Zn7nZ6

Government Scraps Higher Surcharge On Foreign Investors

Finance Ministry also decided to withdraw enhanced surcharge on short and long term capital gains arising from transfer of equity shares.

from NDTV Profit - Latest https://ift.tt/2Zcwwq8

Government Departments To Replace Old Vehicles To Boost Auto Sector

The Finance Minister said the government will lift the ban on its bodies from replacing the old vehicles.

from NDTV Profit - Latest https://ift.tt/2KRAyLV

Moody's Lowers India's 2019 GDP Growth Forecast To 6.2%

The Moody's Investor Service report also cut India's gross domestic product (GDP) growth rate for 2020 by a similar 0.6 percentage points to 6.7 per cent.

from NDTV Profit - Latest https://ift.tt/2TYMtKU

Gold Prices Near 39,000 Rupees: 10 Things To Know

Rising for fourth consecutive day, gold prices rose by Rs 25 on Friday to hit a record high of Rs 38,995 per 10 gram in the national capital, reported news agency Press Trust of India (PTI). Gold...

from NDTV Profit - Latest https://ift.tt/2PbFdwq

India's Growth Much Higher Than Global Growth: Nirmala Sitharaman

"Global GDP growth is projected at 3.2 per cent and is probably going to be revised downwards," Ms Sitharaman said.

from NDTV Profit - Latest https://ift.tt/2zj0LfQ

Government Has Been Taking Bold Steps To Accelerate Economy: Rajiv Kumar

The government will continue to take bold steps to accelerate the economy, NITI Aayog Vice Chairman Rajiv Kumar said on Friday.

from NDTV Profit - Latest https://ift.tt/30vkhS0

IndiGo Announces New International Flights, Fare Details Here

Bookings for the announced routes are available on IndiGo's official website- goindigo.in, the carrier said in the statement.

from NDTV Profit - Latest https://ift.tt/2HnDYnl

Sensex, Nifty Snap 3-Day Losing Streak Ahead Of Finance Ministry Briefing

Sixteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Metal Index's 3.5 per cent gain.

from NDTV Profit - Latest https://ift.tt/2TYeIcl

Nirmala Sitharaman To Hold Press Briefing Amid Stimulus Expectations

Several businessmen say the Prime Minister Narendra Modi-led government needs to take swift action on the economy, as the economic growth in January-March slid to a near five-year low of 5.8 per cent....

from NDTV Profit - Latest https://ift.tt/31ZeeWq

India Inc Grows Impatient As Economy Dips And PM Modi Is Distracted

India's GDP growth in January-March slid to a near five-year low of 5.8% and most analysts expect data due later this month to show that growth in April-June faltered even further.

from NDTV Profit - Latest https://ift.tt/2KNZRyg

Shapoorji Pallonji Group Plans Asset Sales to Cut Rs 4,000 Crore Debt

The 154-year-old group, controlled by billionaire Pallonji Mistry and his family, expects the deals to be clinched by March next year, a source said.

from NDTV Profit - Latest https://ift.tt/31XOyt0

Government May Exempt Foreign Investors From Super-Rich Tax: Report

Finance Minister Nirmala Sitharaman had proposed increasing the effective tax rate on individuals with taxable annual income of above Rs 2 crore($283,000) by about 3 per cent, and for those earning...

from NDTV Profit - Latest https://ift.tt/2L2gPrz

Air India Owes Rs 4,500 Crore To Fuel Retailers, Say Officials

IOC, BPCL and HPCL more than a week back jointly wrote to Air India seeking expeditious clearance of the dues, failing which they will be constrained to take action.

from NDTV Profit - Latest https://ift.tt/2KPZrHI

Sensex Rebounds Over 700 Points From Day's Low, Nifty Tops 10,850

Buying in auto, IT, metal and energy shares pushed the markets higher in afternoon deals.

from NDTV Profit - Latest https://ift.tt/2ZqsZ6S

Finance Minister Seeks Fair Trade Whip On Global Firms Abusing Dominance

"CCI (Competition Commission of India) should take suo moto cognisance of global companies having no presence in India but abusing Indian consumers," Ms Sitharaman said on Friday.

from NDTV Profit - Latest https://ift.tt/2ZmpjPp