Business

The Reserve Bank of India (RBI) has asked banks not to treat failed transactions at ATMs or non-cash withdrawal transactions such as balance enquiries or cheque book requests as part of "five free transactions" available to customers every month. Currently, transactions failed due to technical reasons,

Coffee Day Enterprises said on Wednesday it planned to sell a tech park it owned in the southern city of Bengaluru to Blackstone for up to Rs 3,000 crore ($421 million), in an effort to cut debt.

The announcement comes weeks after the company's founder was found dead in a river in southern India, sparking speculation that he was under

CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone's US entertainment empire, betting that a larger company will be able to compete and partner better in a media industry dominated by giants.

The new company will be named ViacomCBS Inc, although CBS shareholders will own 61 per cent and Viacom shareholders will own

The Reserve Bank of India (RBI) on Wednesday clarified that transactions which fail on account of technical and other specified reasons will not be included in the "five free monthly ATM transactions".

"It has come to our notice that

Employees' Provident Fund or EPF, a government-run pension scheme, is focused on salaried individuals. Companies employing more than 20 people have to compulsorily make contributions towards EPF. Retirement fund body Employees' Provident Fund Organisation

Most commercial banks in the country have fixed their monthly average balance (MAB) requirements. MAB is an average of the end-of-day (EoD) closing balances in a month. The MAB requirements depend on the location of a customer's account in urban, metro, semi-urban and rural areas.

Indian shadow bank Infrastructure Leasing - Financial Services (IL-FS), which collapsed late last year, may not have disclosed bad loans on its books for years despite a big part of its loan book having soured, a report from the Reserve Bank of India

The S-P BSE Sensex and NSE Nifty 50 Indexes staged a sharp recovery on Wednesday after posting the worst day of August in the previous session after Washington delayed tariffs on some Chinese imports, bringing some relief to global markets rattled by a bruising trade conflict. The Sensex surged as much as 515 points and the Nifty 50 Index

The government on Tuesday notified the scheme of partial credit guarantee for PSBs to buy pooled assets of NBFCs (non-banking financial company) up to Rs 1 lakh crore, activating the announcement of the Budget in July this year to boost lending to the cash strapped NBFCs.

India's exports growth turned positive in July, spurting 2.25 per cent, while trade deficit narrowed to a four-month low of $13.43 billion, government data showed on Wednesday. Exports increased to $26.33 billion in July as against $25.75 billion in the same month last year. Decline in

ICICI Bank has revised its fixed deposit interest rates on select maturities with effect from Wednesday, August 14. ICICI Bank has cut the interest rate applicable to maturity periods such as 30-45 days, 46-60 days and 1 year-389 days, according to the Mumbai-based lender's website,

The slowdown-hit economy may soon get a booster dose from the government with Finance Ministry working on a stimulus package for the industry may include a slew of financial measures ranging from tax cuts, subsidies and other incentives.

Official sources said the package would not only aim to reduce the cost for the industry but would

Edelweiss Financial Services Ltd said on Wednesday US-based Kora Management would invest $125 million in the Indian financial services company, weeks after Canadian private equity firm CDPQ's investment of $255 million.

Kora will invest $75 million in Edelweiss Financial's advisory business and a further $50 million in Edelweiss Group,

The Tata Motors factory here in Jharkhand will remain closed on August 16 and 17, a company official said.

"The Tata Motors will remain closed for four days from August 16. Officially it will be two days block closure but technically it will be closed for four days," sources in Tata Motors had told IANS earlier. 

There has been a sharp

India's retail inflation rate eased slightly in July, staying below the central bank's 4 per cent medium-term target for a twelfth straight month, strengthening views that there will be a policy rate cut in October.

Annual retail inflation in July was 3.15 per cent, down from an eight-month high of 3.18 per cent in June, data from the Ministry of

The rupee rose to end at 71.27 against the dollar on Wednesday, rebounding from a nearly six-month low registered the previous day. After opening higher against the greenback at 71.00, the rupee appreciated by as much as 55 paise during the

The rupee rebounded from the six-month low and rose as much as 55 paise or 0.77 per cent against the dollar on Wednesday. Analysts say strong domestic equity markets and easing crude oil prices provided support to the

The rupee fell for second straight day and breached the 71-mark against the US dollar on Tuesday. The rupee slumped 62 paise to close at a nearly six-month low against the greenback, news agency Press Trust of India (PTI) reported. Weakness in

Monsoon rains in the country in the week through Wednesday were above average for a third straight week, the India Meteorological Department (IMD) said, easing concerns of drought, although excessive rainfall flooded many districts in the southern

Wholesale inflation eased to a 25-month low of 1.08 per cent in July, from 2.02 per cent in the previous month, government data showed on Wednesday. A fall in fuel product prices helped cool off wholesale inflation - or the rate of increase in wholesale prices determined by the Wholesale Price Index (WPI). The reading for the month of July was a

Consumer inflation eased to 3.15 per cent in July from 3.18 per cent in the previous month, government data showed on Tuesday. That meant that retail inflation - the rate of increase in consumer prices determined by the Consumer Price Index (CPI) - came in

Gold prices slumped by Rs 425 to Rs 37,945 per 10 grams in Delhi on Wednesday, reported news agency Press Trust of India (PTI). The fall came due to easing of demand from jewellers in the domestic spot market, the reported quoted traders as saying. However, positive

Does Mukesh Ambani see dark clouds gathering on the horizon? From his message to shareholders, it doesn't look like India's richest tycoon is worried. But his actions may reveal more than his words.

At Monday's annual general meeting, the chairman of Reliance Industries Ltd. was brimming with optimism. Not only did he endorse Prime Minister

An Indian startup that aims to use artificial intelligence to deliver faster and more personalized customer support for corporate clients is raising $51 million in funding from investors including March Capital Partners and Chiratae Ventures.

Uniphore Software Systems Pvt, based in Chennai and Palo Alto, Calif, plans to use the emerging technology

The crisis-ridden IL-FS Group has either laid off or separated 43 per cent employees as a cost-cutting measure since its new board was appointed in October last year.

In its fifth progress report on the group's resolution process and the way forward, submitted to the Mumbai-bench of the National Company Law Tribunal (NCLT), the

Domestic stock markets rose sharply on Wednesday tracking a rally in global peers as investors' concerns somewhat eased on the US-China trade front after Washington delayed tariffs on some Chinese imports. The S-P BSE Sensex index gained as

Gold prices on Tuesday fell from the record-high level it touched yesterday. Gold prices dropped by Rs 100 to Rs 38,370 per 10 grams in Delhi, reported news agency Press Trust of India (PTI). The rates of yellow metal on Monday had touched

The proposed sale by Reliance Industries Limited (RIL) of a 20 per cent stake in its oil-to-chemicals (O2C) business to Saudi Arabian oil company Aramco will reduce RIL's debt leverage which is a credit positive, Moody's Investors

The risk of overseas investors in rupee bonds getting caught wrong-footed and weakening India's currency further is surging as losses this month outpace Asian peers amid mounting geopolitical tensions in the region.

A sharp drop in the rupee may wipe out most of the profits for offshore investors as they don't usually hedge currency risk for

India Post, under the Department of Posts, offers a variety of banking services, besides delivering mails. As part of its small savings schemes portfolio, it offers regular savings account. India Post pays interest at the rate of 4 per cent per annum on deposit in its savings