Business

India Ratings and Research (Ind-Ra) has downgraded Punjab National Bank's additional tier I (AT1) perpetual bonds worth Rs 6,750 crore by one notch to A/negative outlook from A+/negative. However, the rating agency has affirmed the bank's

Buying in financial, auto and metal stocks supported the markets

Maharashtra is expected to grow at 7.5 per cent for 2018-19, the Economic Survey released by the state government revealed. The Maharashtra state Finance Minister Sudhir Mungantiwar tabled the survey on Monday on the first day of monsoon session

Fixed deposits (FDs) are secure investment instruments that offer higher interest rates than deposits in savings accounts. Unlike stocks and mutual funds, fixed deposits offer safe returns as they are unaffected by market volatility, experts say. FDs are of two types: with premature withdrawal facility and without premature without facility. The

State-run Air India has announced new domestic and international flights. The national carrier will commence flights on the Mumbai-Patna-Amritsar and Mumbai-Nairobi routes from September 27, Civil Aviation Minister Hardeep Singh Puri said on

The government may consider reintroduction of tax-free bonds to raise capital for the infrastructure projects in its full-year budget for 2019-20, sources said. Introduction of tax-free bonds to boost investment is a usual way for raising funds by infra companies or PSUs, sources said. If that happens, the National Highway Authority of

Finance Minister Nirmala Sitharaman will present the full-year budget for financial year 2019-20 on July 5. It will be the first budget of the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government after it got re-elected in May. Budget is the annual financial

India's biggest airline IndiGo said on Monday it has placed a $20 billion jet engine order from CFM International, a move that marks a dramatic shift away from Pratt - Whitney towards its French-American rival.

CFM, owned by General Electric and France's Safran, will provide the 1LEAP-1A engines to power 280 A320neo and A321neo

The S-P BSE Sensex and NSE Nifty 50 Indexes fell for a fourth straight day led by declines in bluechip stocks like Reliance Industries, Larsen - Toubro, Axis Bank, HDFC Bank, ICICI Bank and Tata Steel. In intraday deals today, the Sensex fell as much as 540 points to trade below 39,000 for first time in over three weeks while the Nifty 50

The Reserve Bank of India (RBI) is likely to cut interest rates by another 25 basis points in 2019, following three cuts of a similar quantum so far, due to weak growth momentum and inflation remaining within targeted limits, Fitch Ratings said on Monday.

The RBI cut the repo rate to 5.75 per cent on June 6, its third cut in 2019, while

Private sector lender ICICI Bank has revised its fixed deposit (FD) interest rates on select maturities with effect from June 17, 2019. ICICI Bank has slashed the FD interest rates applicable on the maturity periods of 61 days to 90 days, 91 days to 120 days and 121 days to 184 days, among others according to the bank's website, icicibank.com. The

The rupee on Tuesday appreciated by 21 paise to close at 69.70 against the US dollar as easing crude prices and a weak dollar ahead of the US central bank's meeting helped the currency snap its three-day losing streak. Forex dealers said the selling of the American currency by

Indulgence in serious criminal cases of money laundering, terror financing, corruption, possession of benami properties and undisclosed foreign assets will virtually shut a person's chances of getting relief in an income tax evasion offence beginning Monday, a latest directive issued by the CBDT said. The policy-making body for the tax

Weak monsoon is no longer considered a grave risk for agriculture but also for India Inc as well as government finances. In recent years, while farmers have been protected by various government interventions, it is India Inc that has felt

The consortium of 26 bankers led by State Bank on Tuesday took the grounded Jet Airways to the National Company Law Tribunal to recover their dues of over Rs 8,500 crore. The tribunal will hear the matter on Wednesday. Jet Airways, started over 25

Assuring the crisis-hit NBFC sector will be monitored, Reserve Bank of India Governor Shaktikanta Das on Monday said the central bank will not hesitate to take any required measure to maintain the financial stability of the economy.

In a lecture at the Lal Bahadur Shastri National Academy of Administration, Mussoorie, on the "evolving role of

To boost power sector investments, the government is considering a proposal to include power generating units in the list of infrastructure projects that qualify for getting investment-linked deductions, official sources said on Monday.

The move

Life Insurance Corporation (LIC) of India which offers term insurance policies, endowment plans and pension schemes also offers money back insurance policies. LIC New Money Back Policy-20 years is one of the money back plans being sold by the

Fitch on Monday lowered India's growth forecast to 6.6 per cent for the current fiscal year from 6.8 per cent projected earlier, as manufacturing and agriculture sectors showed signs of slowing down over the past year. In its latest Global Economic

The Tower and Infrastructure Providers Association (TAIPA), an industry body, has urged the Ministry of Finance to allow an accelerated depreciation rate of 65 per cent on batteries, 20 per cent funding through external commercial borrowings (ECB) for the working capital, and inclusion of telecom towers in priority sector lending. The

The government is due to announce the full-year budget for 2019-20 on July 5. Finance Minister Nirmala Sitharaman, India's first full-time woman finance minister, will present the Budget in Lok Sabha, the lower house of Parliament. The budget is an annual financial statement of a government, detailing its revenue and expenditure in the past, as

Jet Airways' creditors said on Monday they plan to begin insolvency proceedings against the airline in a last-ditch bid to find a buyer for the carrier or its remaining assets and recover some of what they are owed.

Once India's biggest private

Just as India's banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country's shadow banking sector.

A year after a series of defaults

Domestic air passenger traffic saw a rebound in May as it increased by 2.96 per cent after a slump in April, according to the data released by aviation regulator DGCA on Tuesday.

In April, domestic air passenger traffic had dropped by 4.5 per cent over

Planting of summer-sown crops in India such as soybean, cotton, rice and corn has been delayed by at least two weeks because of the slow progress of monsoon rains in central and western parts of the country, raising concerns over lower production.

Lower production of soybeans could force the country to raise imports of edible oils such as

Industry body Federation of Indian Chambers of Commerce - Industry (FICCI) has demanded, in its Pre-Budget Memorandum, from the government that Income Tax exemption limit under the Section 80-D of Income Tax Act should be raised to Rs 20,000 from Rs

Chinese lenders, including China Development Bank, Industrial and Commercial Bank of China and Exim Bank of China, have demanded at least $2.1 billion from embattled tycoon Anil Ambani's Reliance Communications Ltd., that slid into bankruptcy earlier this year.

State

With the government committed to bringing a revolution in the electric vehicles (EV) segment in the next few years, industry expectations from the Union Budget 2019-20 run high. Among the key demands are priority lending by public sector banks for purchase of EVs and a hike in government subsidy to push sales.

"Today, nobody is giving

Industry body FICCI has suggested the government to increase the deduction in taxable income available under Section 24 of the Income Tax Act to Rs 3 lakh on interest against home loan to boost the housing sector. The suggestions for the real estate sector come ahead of the announcement of the full-year budget on July 5. In its pre-Budget