Business

Department of Posts or India Post, which runs postal services in the country, also offers nine types of small saving schemes. These include the savings account, the five-year recurring deposit (RD), the time deposit or fixed deposit (FD), the Monthly Income Scheme (MIS)

April-June economic growth rate could be "relatively slower", Finance Secretary Subhash Chandra Garg said, after Asia's third largest economy recorded the slowest pace of GDP growth in 17 quarters for the first quarter of 2019.

Mr Garg said that country's growth rate, which has been hit due to weak consumption demand and private

The S-P BSE Sensex and NSE Nifty 50 Indexes nosedived from near all-time high levels in noon deals on the back of sharp selloff in banking, energy and financial heavyweights like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, State Bank of India, HDFC and Reliance

Public Provident Fund or PPF account, offered by various institutions including commercial lenders such as State Bank of India (SBI), is a retirement planning-focused instrument. A PPF account provides an investment avenue with decent returns coupled with

Indian Railway Catering and Tourism Corporation (IRCTC)'s tourism arm, IRCTC Tourism, is offering a four-night and five-day tour to the Andaman and Nicobar Islands from Guwahati. IRCTC Tourism's "Andaman Delights" tour package will begin from August 10, 2019 and

Beleaguered tycoon Anil Ambani is in talks to sell his group's general insurance unit to a shadow lender, people familiar with the matter said, as he seeks to reduce debt.

Reliance Capital Ltd., controlled by Mr Ambani, is discussing the contours of

IRCTC (Indian Railway Catering and Tourism Corporation) Tourism is offering a tour package of six nights and seven days to Madurai, Rameshwaram and Kanyakumari at a starting price of Rs 14,790, according to IRCTC Tourism's official website, irctctourism.com. This tour will commence

Snapping its three-session losing streak, the rupee on Friday rose by 17 paise to close at 69.70 against the dollar on weakening of the greenback in overseas markets and easing crude oil prices. On a weekly basis, the rupee declined by 34 paise.

At the forex market, the domestic

Buying across sectors - primarily state-run banks, auto and energy stocks - led the upmove.

Most banks in the country levy certain charges from their customers in case a cheque bounce occurs. Cheque bounce is a 'dishonour of cheque' that happens when the account holder has non-sufficient funds (NSF) in the bank account or if the signatures on the cheque do not match with the original signature of the

Unemployment rate rose to 6.1 per cent in the 2017/18 fiscal year, the statistics ministry said on Friday, matching data earlier leaked to a newspaper that said it was the highest level in at least 45 years.

The data was released a day after Prime Minister Narendra Modi was sworn-in for his second term. 

The unemployment number comes as

Axis Bank revised its fixed deposit interest rates on select maturities with effect from Wednesday, according to the private sector lender's website. A fixed deposit (FDs) is a financial instrument which offers guaranteed return. Unlike stocks and mutual funds,

Budget airline SpiceJet Ltd is examining the prospect of taking over widebody jets previously operated by Jet Airways Ltd, but initial studies show they need significant maintenance work, its chairman said on Saturday.

SpiceJet, which operates

Infrastructure output grew 2.6 per cent in April from a year earlier, government data showed on Friday.

Infrastructure output, which comprises eight sectors such as coal, crude oil and electricity, accounts for nearly 40 per cent of country's industrial output.

State-run Coal India Ltd (CIL) on Thursday reported a whopping over 362 per cent increase in its consolidated net profit for the fourth quarter of 2018-19 ended March at Rs 6,024.23 crore, as compared to Rs 1,302.63 crore in the year-ago period.

Its revenue from

The Modi 2.0 government in its first Cabinet meeting on Friday approved a new scheme, which assures minimum monthly pension of Rs 3,000 to all shopkeepers, retail traders and self employed persons after attaining the age of 60 years, fulfilling its

Fiscal deficit in April stood at Rs 1.57 lakh crore ($22.52 billion), or 22.3 per cent of the budgeted target for the current fiscal year, government data showed on Friday.

Net tax receipts in the first month of the fiscal year were Rs 71,637 crore, while total expenditure was Rs 2.55 lakh crore, government data showed.

The government has

Recurring Deposit (RD), a kind of investment plan, is offered by commercial banks, small finance banks and post offices. In an RD account, investor can invest fixed amount of funds at regular intervals. For setting up a recurring deposit (RD) account, he/she can choose from a variety of terms - or maturity period. For example- the maturity period

Cabinet on Friday agreed to extend a programme of handing Rs 6,000 ($86) a year to another 2.5 crore farmers of the country, farm minister Narendra Singh Tomar said.

In the interim budget for the 2019/20 fiscal year presented in February, Prime Minister Narendra Modi's last government had started the direct cash support programme for 12 crore poor

The slowdown may lead to another rate cut by the RBI in its June policy review, say economists

SBI or State Bank of India - the country's largest bank - is a member of multiple payments systems. From National Electronic Funds Transfer (NEFT) to Immediate Payment Service (IMPS) and Real-Time Gross Settlement (RTGS), SBI customers can remit funds

India will announce its full-year budget for the year ending March 2020 on July 5, farm minister Narendra Tomar said on Friday, an event expected to provide a glimpse into the newly formed government's plans for the economy.

Prime Minister Narendra Modi's government stepped up farm support and reduced the tax burden for the middle class

S-P BSE Sensex and NSE Nifty 50 Indexes ended lower after surging close to record high levels earlier in the day. Investors booked profits in today's session ahead of release of GDP data for last quarter of financial year 2018-19 due after market hours today, analysts said. Earlier in

The S-P BSE Sensex and NSE Nifty 50 Indexes resumed their record breaking spree after a day's pause in the previous session. Rally in today's session was fuelled by gains in HDFC, Reliance Industries, HDFC Bank, Tata Consultancy Services and ICICI

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

Prime Minister Narendra Modi on Friday named Nirmala Sitharaman, previously the country's defence minister, as the next finance minister, while Amit Shah will become home minister.

COMMENTARY

AJAY BODKE, CEO-PMS, PRABHUDAS LILLADHER, MUMBAI

"Nirmala Sitharaman is eminently qualified to steer India's economy, which is

India probably lost its spot as the fastest growing major economy to China in the January-March quarter as a chill in domestic and global consumer demand hit manufacturers and service providers.

The slowing economy didn't stop voters giving Prime

Gold prices on Friday rose Rs 300 to Rs 33,170 per 10 gram in the national capital due to increased buying from jewellers and firm trend overseas, according to the All India Sarafa Association. Tracking gold, silver also gained Rs 150 to Rs 37,550 per kg on increased offtake

The rupee witnessed high volatility in the forex market on Friday following the allocation of key portfolios in the newly elected government. In the opening trade on Friday, the rupee had appreciated by 15 paise to 69.72 against the dollar, driven by positive opening in

Indian Railway Catering and Tourism Corporation (IRCTC) offers a range of domestic and international tour packages. Among its international tours, IRCTC Tourism is operating a cruise package - called "Norwegian Getaway Cruise" - at Rs 3.16 lakh