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Business
SBI fixed deposit interest rates: The bank cut the interest rates on retail term deposits by 20-25 bps
State Bank of India (SBI) on Monday announced a reduction in its marginal cost-based lending rate or MCLR by 10 basis points. It also lowered interest rates on term deposits across all maturities by up to 25 basis points. The move marked the
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Read more: SBI Cuts Interest Rates On Home Loans, Fixed Deposits
Write comment (100 Comments)The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.
State-run oil marketing companies cut petrol prices on Sunday, marking a fourth straight day of reduction in rates. With effect from 6 am on Sunday, the price of petrol was at Rs. 71.71 per litre in Delhi, Rs. 74.44 per litre in Kolkata, Rs. 77.40
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Read more: Petrol Prices Cut Across Metros, Check Rates Here
Write comment (90 Comments)Jewellers are running business with thin inventories and have to build stocks for the festive season.
Demand for physical bullion was subdued in major Asian hubs this week as high prices dampened consumer interest, although some hefty discounts on offer in India led to a slight uptick in buying ahead of a major festival season.
Gold
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Read more: India's Gold Demand Ticks Up Ahead Of Festivals, Subdued Elsewhere
Write comment (100 Comments)India's plunging auto sales are making investors nervous. Their bigger worry should be the vanishing new roads.
The country's top six automakers reported a 29 per cent decline in August sales. A 45 per cent slump in commercial vehicle sales by Tata Motors Ltd., the No. 1 Indian truck maker, added to the gloom. With GDP growth facing its longest
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Read more: Opinion: Investors' Biggest Worry Should Be Vanishing New Roads In India
Write comment (91 Comments)The NSO is slated to release the macro-economic data points of IIP and CPI on September 12.
Expected growth inducing measures along with attractive valuations will give an upward push to domestic equities during the upcoming weekly trade, market observers opined.
Additionally, other factors such as the rupee's movement, direction of foreign
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Read more: Expected Economic Growth Measures, Macro Data To Guide Markets: Experts
Write comment (97 Comments)The Indian rupee rose for third straight day against the US dollar on Friday as signs of easing trade tensions between US and China lifted investors' sentiment news agency Press Trust of India reported. The rupee opened lower at 71.88 against the
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Read more: Rupee Rises For Third Straight Day, Ends At 71.72 A Dollar: 10 Points
Write comment (93 Comments)BSE Sensex today: The Sensex is likely to open higher today, as indicated by the SGX Nifty futures
The S-P BSE Sensex and NSE Nifty 50 indices (stock markets) recovered from lower levels on the back of gains in ICICI Bank, Hindustan Unilever, HDFC, Reliance Industries and Kotak Mahindra Bank. The Sensex recovered as much as 365 points from
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Read more: Sensex Recovers 365 Points From Day's Low, Nifty Reclaims 11,000
Write comment (90 Comments)Food delivery platform Zomato on Saturday said that it has laid off 541 people -- 10 per cent of the company's strength -- across customer, merchant and delivery partner support teams. The reason behind the
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Read more: "Painful Decision": Zomato Sacks 541 Employees As Automation Improves
Write comment (98 Comments)JioFiber launch: Reliance Jio rolled out its fiber-based broadband service JioFiber on September 5, 2019
JioFiber, the optical fiber-based broadband service by Reliance Jio Infocomm, has been rolled out with six monthly tariff plans. Priced between Rs 699 and Rs 8,499, the JioFiber plans offer internet speed in the range of 100 Mbps to 1 Gbps,
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Read more: Six JioFiber Monthly Tariff Plans Offer 150-5,000 GB Of High Speed Data
Write comment (96 Comments)The country's largest lender SBI remained the biggest prey to frauds with 38 per cent share.
A total of 2,480 cases of fraud involving a huge sum of Rs 31,898.63 crore rattled 18 public sector banks in the first quarter of this fiscal year, an RTI query has revealed.
The country's largest lender State Bank of India (SBI) remained the biggest
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Read more: 18 PSU Banks Hit By Frauds Worth Rs 32,000 Crore In June Quarter: Report
Write comment (91 Comments)One can invest in the APY through three modes of payment: monthly, quarterly and half-yearly.
Atal Pension Yojana or APY, a pension scheme, encourages workers from the unorganised sector to save voluntarily for their retirement, according to National Securities Depository (NSDL) website - npscra.nsdl.co.in. The minimum age of joining APY is 18
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Read more: Atal Pension Yojana: Eligibility, Contribution And Other Details
Write comment (96 Comments)Last month, the Railway Board gave its approval to the IRCTC to restore the service charges.
The Indian Railway Catering and Tourism Corporation (IRCTC), the e-ticketing arm of Indian Railways, has restored service charges on online ticket bookings. IRCTC now charges a fee of Rs 15 and Rs 30 for booking railway tickets online for non-AC and AC
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Read more: Here Are The Service Charges Levied By IRCTC For Ticket Bookings
Write comment (93 Comments)SBI's scheme also offers loan facility, nomination facility and passbook facility.
SBI or State Bank of India offers Flexi Deposit Scheme which is similar to a recurring deposit (RD) account. Under SBI's deposit scehme, instead of a fixed instalment every month, an investor can decide to change the amount of instalment every month, and even the
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Read more: SBI Flexi Deposit Scheme: Interest Rates And Other Details
Write comment (98 Comments)The Reserve Bank of India is currently working with other financial sector regulators like Sebi, PFRDA and Irda to develop an interest rate market where mutual funds, pension and insurance funds could participate in securities lending to deepen market based finance and develop an alternate to bank finance.
"IRDA, SEBI and PFRDA too could
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Read more: RBI Working With Regulators For Securities Lending Product
Write comment (94 Comments)Reliance Industries, Kotak Mahindra Bank were the top contributors to the advances on Sensex.
The S-P BSE Sensex and NSE Nifty 50 indexes staged a sharp upmove in today's session led by gains in metal, auto and banking shares. The S-P BSE Sensex closed 337.35 points, or 0.92 per cent, higher at 36,981.77 while the NSE Nifty settled at
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Read more: Sensex Surges 337 Points, Nifty Settles Above 10,900
Write comment (98 Comments)Oil marketing companies have cited issues like sales tax as a barrier to the Civil Aviation Ministry's plan to rationalise additional charges that airlines have to pay while uplifting aviation turbine fuel (ATF) at airports across India, officials said.
Currently, airlines have to pay taxes for certain services, such as ''throughput charges'',
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Read more: Oil Companies Flag Issues In Rationalising Taxes On Jet Fuel
Write comment (90 Comments)In case taxpayers missed this deadline, they can still file their income tax returns (ITRs).
August 31 was the last date to file the income tax return for the financial year 2018-19 (assessment year 2019-20). In case taxpayers missed this deadline, they can still file their income tax returns (ITRs). However, filing a belated income tax return (ITR)
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Read more: Here's All You Need To Know About Filing A Belated Income Tax Return
Write comment (91 Comments)Mr Thakur was speaking at the ACMA annual convention.
Central government is open to take the industry's proposal on reducing the Goods and Services Tax (GST) rates on automobiles to the GST Council, said the Minister of State for Finance - Corporate Affairs Anurag Thakur on Friday.
Currently, the GST rates on automobiles are pegged at
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Read more: Government Open To Take Auto Industry Proposal To GST Council: Minister
Write comment (90 Comments)In FY19, state-run banks reported 3,766 cases of frauds worth Rs 64,509.43 crore.
The country's largest public sector bank, State Bank of India, sought issuance of 147 Look Out Circulars (LoC) in the last five months in connection with bank fraud cases, an RTI response from the bank said. Data shows that the bank started seeking LoC from
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Read more: SBI Sought Issuance Of 147 Look Out Circulars In Last Five Months: Report
Write comment (91 Comments)Fixed deposit interest rates are subject to change from time to time.
Bank of India has revised its fixed deposit (FD) interest rates. According to the latest Bank of India FD rates, the bank is offering 4.25 per cent interest rate on maturity period of 7-14 days to the general public on FDs below Rs 2 crore. On maturity periods such as 31-45 days
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Read more: Bank Of India Revises Fixed Deposit Interest Rates
Write comment (91 Comments)UPI payments: Electronic transactions made up 95.4% of retail payments in 2018-19, RBI data shows
UPI or Unified Payments Interface transactions surged nearly six times in the year to June 30, according to the Reserve Bank of India's annual report. The spike in UPI transactions comes amid "robust growth" in payments and settlements systems,
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Read more: Unified Payments Interface (UPI) Transactions Jump Six Times In 2018-19
Write comment (99 Comments)Air India was founded in 1932 and was once the country's monopoly airline.
Fuel supplies have been restored to debt-ridden Air India at six airports following government-mediated talks, after a two-and-half-week suspension by oil companies over the late payment of dues, local media reported.
Fuel supplies were suspended on August 22 amid reports
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Read more: Fuel Supplies Restored To Air India At 6 Airports
Write comment (97 Comments)Customers willing to avail the services can book flight tickets via IndiGo's official website.
Passenger carrier IndiGo has announced Ho Chi Minh City (HCMC or Saigon), Vietnam as its twenty second international and 80th overall destination, a press release issued by the airline said. The carrier will operate flights on the Kolkata-Ho Chi Minh
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Read more: IndiGo Announces New International Flights, Details Here
Write comment (90 Comments)The government has fixed a disinvestment target of Rs 1.05 lakh crore for the current fiscal.
Following the recapitalisation of public sector banks (PSBs), now public sector insurance companies -- National Insurance, Oriental Insurance and United India Insurance -- are going to be infused with funds worth Rs 12,000 crore to boost their
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Read more: Centre To Infuse Rs 12,000 Crore In State General Insurance Firms: Report
Write comment (99 Comments)The senior citizen savings scheme offers an interest rate of 8.6 per cent per annum.
India Post or Department of Posts, the postal system of the country, provides a range of services. The Department of Posts offers nine savings schemes with different interest rates. One such savings scheme offered by India Post is the Senior Citizen Savings Scheme
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Read more: Post Office Offers Senior Citizen Savings Scheme, Details Here
Write comment (95 Comments)Nobody can question our government on inflation, says Nirmala Sitharaman.
Finance Minister Nirmala Sitharaman on Friday said inflation is completely under control and that it has not risen since 2014. "Inflation is absolutely under control. Nobody can question our government on inflation. Inflation has not risen since 2014. It was up
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Read more: Inflation Completely Under Control: Nirmala Sitharaman
Write comment (91 Comments)Nirav Modi's companies failed to repay Oriental Bank's loans of Rs 60.41 crore and Rs 32.25 crore.
For the first time, the public sector lender Oriental Bank of Commerce (OBC) has come clean on its loan exposure to the absconding diamantaires Nirav Modi and his uncle Mehul C. Choksi, here on Friday.
The development comes ahead of the OBC's
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Read more: Oriental Bank Reveals Loan Exposure To Nirav Modi, Mehul Choksi
Write comment (90 Comments)BSNL has not paid salaries to its 1.76 lakh employees for August.
After PSU banks, the government is likely to infuse capital in two chronically ill telecom PSUs BSNL and MTNL, and the Union Cabinet is likely to take a decision on 4G spectrum allocation to them by the third week of the current month after DoT (Department of
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Read more: Centre Likely To Infuse Capital In BSNL, MTNL: Report
Write comment (92 Comments)Revenue department will bring in faceless assessment for Central Board of Direct Taxes (CBDT).
From October 1, any notice issued by the Income Tax department for tax claim will have to be issued with a Document Identification Number (DIN), Finance Minister Nirmala Sitharaman told reporters after her meeting with tax officials in Kolkata.
"When a
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Read more: Tax Notice To Be Issued With Document ID Number Starting October
Write comment (97 Comments)Prabhat Dairy got listed on stock exchanges in 2015.
Shares of the Ahmednagar-based dairy products maker - Prabhat Dairy - surged by their daily maximum limit of 20 per cent to hit an intraday high of Rs 78.15 on the BSE after it informed exchanges that the promoters of the company have expressed their intention to delist shares from stock
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Read more: Prabhat Dairy Hits 20% Upper Circuit On Delisting Proposal
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