Business

Finance Minister Nirmala Sitharaman on Sunday met real estate players and discussed ways to create demand in the country's real estate market.

The major subjects discussed in the meeting included liquidity problems and completion of stalled projects. 

Developers suggested the creation of a stress fund for completion of stalled projects.

Key lenders, both public and private, in the country levy charges on customers for various uses of an ATM-cum-debit card. The ATM charges apply depending on the type - whether it belongs to the same bank where the customer's account is located or some other bank - and

A tribunal on Friday rejected an appeal by the auditors of debt-laden Infrastructure Leasing - Financial Services (IL-FS), challenging the court's jurisdiction to ban them for alleged abetment of financial fraud.

The government has asked for a five-year ban on Deloitte Haskins - Sells LLP and a KPMG affiliate for allegedly

 Crisis-ridden IL-FS has filed a proposal to the National Company law Tribunal (NCLT) to complete the sale of its arm IL-FS Wind Energy Ltd (IWEL) to ORIX Corporation of Japan.

IL-FS had already received approval earlier last month for the sale of its wind energy business from Justice (Retired) DK Jain, appointed by the

August 31, 2019 is the due date for assessees to file their income tax return (ITR) for assessment year 2019-20 (financial year 2018-19). Missing this due date, set by the Income Tax Department, will attract penalty charges up to Rs 10,000. The taxman has provided seven forms - named ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 - for filing

The domestic passenger vehicle industry is witnessing worst performance in the last two decades and the prolonged slowdown is now causing job losses. The auto components industry alone employs 50 lakh people and 10 lakh of those are set to get affected. Contractual labourers have become the first victims of the slowdown.

26 year old Gurmeet Singh

A BSBD or basic savings bank deposit account is a type of zero balance savings account which does not require customers to maintain any particular minimum balance. In other words, the account can be operated with zero balance. Major commercial

State Bank of India (SBI) has reduced its benchmark lending rate by fifteen basis points or 0.15 percentage points across all tenors. The new rate, effective from today, marks the fourth reduction by SBI this financial year, the country's largest lender said

The S-P BSE Sensex and NSE Nifty 50 Indexes extended their rally to second day paced by gains in banking, auto and financial services shares. The benchmarks opened higher and extended their rally led by HDFC Bank, HDFC, ICICI Bank and Kotak Mahindra Bank. The Sensex rose as much as 480 points and Nifty briefly moved above 11,150 but selling

While fund flows from NBFCs (non-banking financial company) to micro, small and medium enterprises (MSME) have dried up in recent times, official data shows state-run banks too are cautious in lending with total credit outstanding to the sector growing at just 7.38 per cent to Rs 8.81 lakh crore in the three-year period ending March

Capital market participants and foreign institutional investors on Friday presented a charter of demands to Finance Minister Nirmala Sitharaman, which included rollback of surcharge on FPIs, review of dividend distribution tax and lowering of LTCG tax, in a bid to shore up investors'' sentiments.

Sources said Ms Sitharaman gave a patient

GAIL India on Friday reported a net profit of Rs 1,501.95 crore in the April-June period. That meant an increase of 4.19 per cent compared to its net profit in the corresponding period a year ago. GAIL's revenue from operations came in at Rs 18,481.56

SBI or State Bank of India offers Multi Option Deposit (MOD) account, which is a type of fixed deposit (FD) account. Unlike in fixed deposits, which are fully liquidated, an MOD account holder can withdraw in multiples of Rs. 1,000 at the time of need, according to SBI's website. The

A group of foreign portfolio investors (FPI) met Finance Minister Nirmala Sitharaman on Friday and raised concerns on the increase in tax surcharge which was proposed in the budget and later approved by the parliament among many

Domestic automakers Tata Motors and Mahindra and Mahindra (M-M) said on Friday they would cut production at some plants in response to slowing demand that industry executives say has driven the sector into one of its worst downturns.

Tata Motors, which had previously flagged a

Expectations of various policy measures including some type of a stimulus package by the government to reverse the slowdown is expected to aide the domestic equity indices to consolidate in the upcoming truncated trade week.

Additionally, the key indices

The slowdown in auto sector has rendered an estimated 3.5 lakh people jobless due to spiralling layoffs in the automobile industry.

In Chennai's Ambattur Industrial Estate the slowdown has crippled John Peter who makes valve components. Over the last five months, his 8 lakh monthly turnover has dropped by 90 per cent, to just one lakh.

Hindalco Industries on Friday reported a net profit of Rs 1,063 crore for the April-June period. Its net profit declined 27.93 per cent compared to the corresponding period a year ago, according to a regulatory filing by the company during market hours. Hindalco - an Aditya Birla Group company - said its revenue from operations stood at Rs 29,972 c

Even as the Indian auto component industry is managing the downturn without major job cuts, there will be job losses to the tune of about 10 lakh if the situation continues, said a top official of the Automotive Component Manufacturers

New Delhi:  Tata Motors and Mahindra and Mahindra, two of India's biggest automakers, on Friday said they would cut production at some plants in response to slowing demand that industry executives say has driven the sector into one of its worst downturns. The

SpiceJet reported standalone net profit of Rs 261.67 crore in June quarter compared with a loss of Rs 38.06 crore in the year ago period, according to a stock exchange notification filed by the company with stock exchanges. SpiceJet's total revenue from operations rose 35 per cent to Rs 3,002.07 crore compared with Rs 2,220.40 crore in the year

With banking giant SBI and about a dozen lenders reducing their interest rates, the remaining PSU banks are likely to follow suit and slash interest rates in the next few days to pass on the benefit of rate cut by the Reserve Bank and boost the economy, sources said.  Even private sector banks are expected to follow the market trend in

Industrial production, measured by the estimate of Index of Industrial Production (IIP) slowed down to 2 per cent in June compared with an expansion of 7 per cent same month last year, according to data released by Ministry of Statistics - Programme

Confederation of Indian Industry or CII on Friday assured Finance Minister Nirmala Sitharaman that the industry body will support investment activities in Jammu and Kashmir. 

The centre recently removed special status to Jammu and Kashmir under Article 370 and has carved out two Union Territories (UTs) - Jammu and Kashmir, and Ladakh.

"We

India Post - which operates a network of more than 1.5 lakh post offices across the country- provides a variety of banking services. Among the nine savings schemes that India Post offers, recurring deposit or RD accounts offer an interest rate of 7.2 per cent per annum, according to India Post's official

The deficit in southwest monsoon has narrowed and the sowing of summer (kharif) crops is progressing well across the country, Agriculture Minister Narendra Singh Tomar said on Friday. The India Meteorological Department (IMD) has projected the overall monsoon to remain normal. However, till August 8, the rainfall was 5 per cent below

The Indian equity benchmarks extended gains in today's session with Sensex surging as much as 460 points and Nitfy was firmly trading above 11,150 led by gains in HDFC twins, Reliance Industries, ICICI Bank, Larsen - Toubro and Maruti Suzuki. Buying was visible

Country's fuel demand rose 3.3 per cent in July compared with the same month last year.

Consumption of fuel, a proxy for oil demand, totalled 17.58 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

Sale

Gold prices on Friday decreased by Rs 140 but traded above the Rs 38,000 mark in the national capital, news agency Press Trust of India (PTI) reported. The yellow metal settled at Rs 38,330 per 10 gram. Easing in demand from jewellers

Domestic stock markets clocked sharp gains on Friday, rising for a second straight day, after a report by news agency Reuters said that the government is likely to exempt foreign portfolio investors from higher taxes triggered a surge in the