Business

Kotak Mahindra Bank's net profit in June quarter rose 32.71 per cent in April-June period to Rs 1,360.20 crore from Rs 1,024.94 crore in the corresponding quarter last year, the Mumbai-based private sector lender said in an exchange filing. Its net interest income - the difference between the interest earned and interest expended - jumped 23 per c

The S-P BSE Sensex and NSE Nifty 50 Indexes (stock markets) extended declines to third day in opening trades led by declines in HDFC Bank after its asset quality deteriorated in June quarter. Losses in HDFC, ITC, Bajaj Finance, ICICI Bank, Axis Bank and

HDFC Bank, the largest private lender in the country, registered a 21 per cent net profit rise for the June quarter on the back of strong retail lending, it said on Saturday.

Net profit rose to Rs 5,568 crore ($808.71 million) in the quarter ending June 30, compared with Rs 4,600 crore in the corresponding quarter last year.

The

The S-P BSE Sensex and NSE Nifty 50 indexes fell for third day in a row as financial and banking sector shares like HDFC, HDFC Bank, Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank and State Bank of India came under selling pressure after the country's largest private sector lender on Saturday said that its bad loans rose in April-June

Reserve Bank of India Governor Shaktikanta Das gave his first interview with media since taking office in December. Here's an edited transcript of the topics he covered in the more than 50 minute interview.

On the economic slowdown and the RBI's

Permanent Account Number or PAN, a ten-digit alphanumeric identifier, is issued by Income Tax Department. Each assessee (such as individual, firm or company) is issued a unique PAN. According to the Income Tax Department, online applications for PAN card can be

Chinese smartphone manufacturer Xiaomi has become the youngest company on the Fortune Global 500 list for 2019, ranking 468, with a revenue of $26,443.50 million and a net profit of $2,049.10 million in the previous fiscal year.

The Beijing-based global

The S-P BSE Sensex and NSE Nifty 50 Indexes are set to open lower as indicated by Nifty futures traded on the Singapore Exchange. Singapore Nifty futures also known as the SGX Nifty was testing 11,400 levels. HDFC Bank and Reliance Industries shares will be on investors radar as they reported their June quarter earnings post market hours

Finance Minister Nirmala Sitharaman on Saturday said the tax on the super-rich is a small expectation from them to contribute a little more for the poor. She was in Chennai to inaugurate the International Business Conference of Nagarathars organised by the Nagarathar Chamber of Commerce.

Ms Sitharaman said not more than 5,000 people are

HDFC Bank has revised its fixed deposit interest rates on select maturities with effect from Monday, July 22. HDFC bank has revised the interest rate applicable to maturity periods such as 30-45 days, 46-60 days and one year, according to the lender's website,

The Reserve Bank of India is seeing "signs of fragility" in some of the 50 mortgage lenders and other shadow banks it is monitoring to prevent the spread of a crisis that followed the collapse of a non-bank lender last year.

"It is our endeavor that there is no contagion," central bank Governor Shaktikanta Das said in one of his first media

Senior Citizen Savings Scheme (SCSS), meant for people above the age of 60, offers an interest rate of 8.6 per cent per annum. An individual can open senior citizen savings account with post offices or commercial banks such as State Bank of India (SBI). A depositor can operate more than one SCSS account,

Kotak Mahindra Bank shares more than 3 per cent on Monday, ahead of the earnings announcement by the private sector lender. On the Bombay Stock Exchange (BSE), Kotak Bank shares opened at Rs 1,500 apiece - nearly unchanged from their previous close

Air India has stopped giving promotions to its employees and recruiting new personnel as the government prepares for the disinvesment of the debt-laden airline, an official said on Sunday. The government is expected to soon start the disinvesment process for Air India, which has a debt burden of more than Rs 50,000 crore. For the

Credit rating agencies for years assigned high ratings to country's Infrastructure Leasing - Financial Services (IL-FS) and its group companies despite its deteriorating financial health, according to a special audit

The Supreme Court on Monday ruled status quo on the sale of Essar Steel to ArcelorMittal.

A bench headed by Justice Rhinton F. Nariman admitted the appeals by Essar Steel lenders and ArcelorMittal challenging the order of the National Company Law

IndiGo, which is owned by InterGlobe Aviation Limited, said on Saturday that shareholders' approval will be sought to expand its Board.

According to a company statement: "The Board has decided to seek the approval of the shareholders at the upcoming annual general meeting for expanding the Board to enable the induction of an independent

Government is in talks with foreign lenders to provide as much as $14.5 billion in credit to millions of its small firms, two officials said, in a sign the country's banking system may not be robust enough to do the job on its own.

The government is

Trading hit a feverish pitch on China's new Nasdaq-style board for homegrown tech firms on its debut on Monday, with most stocks surging and drawing attention away from the main board. All of the first batch of 25 companies - ranging from chip-makers to biotech firms - more than doubled their already frothy IPO prices on the STAR Market,

IRCTC (Indian Railway Catering and Tourism Corporation) Tourism is offering a tour package to Delhi, Agra and Jaipur starting from Rs. 25,010 per person. The five-night and six-day tour will cover popular spots such as Amber Fort, Taj Mahal, Qutub Minar, Lotus

The UIDAI or Unique Identification Authority of India, the issuer of 12-digit personal identification numbers under the Aadhaar scheme, offers a variety of services online. Through its "self-service portal", the UIDAI enables users to update address, verify Aadhaar number (UID), verify email address or

Australia's air safety regulator has grounded operations of a small aircraft manufactured by Mahindra Aerospace for up to 15 days in the wake of a crash in Sweden that killed nine people earlier this month.

The Civil Aviation Safety Authority (CASA) said it had suspended operations of all GippsAero GA8 planes in Australia and all

Budget passenger carrier GoAir plans to add destinations such as Hanoi and Phnom Penh to its international network by the year-end, sources said.

Sources said the airline, which is rapidly expanding its international presence, will also deploy capacity to Bhutan in the coming days. Till recently, the airline flew to just four international

The last day to file income tax returns for assessment year 2019-20 (financial year 2018-19) is July 31, 2019. The income tax (I-T) department cautions that the income tax payers should not resort to the last minute rush and must file their incom

HDFC Bank shares fell more than 3 per cent on Monday to their lowest level recorded since May 16, after the private sector lender reported its earnings for the quarter ended June 30. On the Bombay Stock Exchange (BSE), the HDFC Bank stock opened at Rs 2,353.00 a

IndiGo, the country's largest airline by market share, started operations from Shillong on Saturday, the company said in a statement. The airline also inaugurated seven new domestic flights on Kolkata-Shillong and Kolkata-Raipur routes. The private carrier

Indian Railways on Friday refuted reports over discontinuation of the 'Garib Rath' Express trains saying there is no such proposal.

In a statement the Railway Ministry said, "It is clarified that there is no proposal to discontinue Garib Rath services on Indian Railways."

The ministry said that there are 26 pairs of Garib Rath services in

Reliance Industries plans to remain focused on subscriber additions rather than chase higher tariffs for its Jio telecoms business, a top company executive said.

Its strategy is aimed at prolonging the pressure on rivals such as Bharti Airtel and Vodafone Idea, whose revenue and profits have plunged since the launch of Jio by Reliance boss

The domestic equity markets is set to face another volatile week ahead, as the ongoing flight of foreign funds is expected to continue on the back of latest taxation surcharge on the super rich category along with subdued quarterly

Lenders to Jet Airways agreed on Friday to provide some interim financing to the bankrupt airline to help it cover legal and other costs, as resolution experts look to find a potential buyer.

In a regulatory filing, bankruptcy resolution firm Grant Thornton