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Under flexi fare, base fare increases by 10% with every 10% of berths sold, subject to a prescribed limit

New Delhi: 

In a huge relief for passengers, railways has scrapped flexi-fare in 15 premium trains completely, while the scheme will no longer be applicable in 32 trains during lean periods. It has also reduced flexi fares from 1.5 to 1.4 times

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The government has sent at least three letters on different issues under Section 7 (1) of the RBI Act

Amid reports of its mounting tension with the RBI, the Finance Ministry Wednesday said the government has "nurtured and respected" autonomy of the central bank and has been holding extensive consultations with it on many issues. "The autonomy for

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The rupee is set to finish the month with a loss of more than 1.5% against the dollar

The rupee declined by 23 paise against the dollar to close at 73.68 on Tuesday. Demand for the greenback from importers amid softening crude oil prices dragged the rupee lower. A rise in the dollar overseas and weakness in

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The country's rank improved by 53 positions in last two years and by 65 positions in last four years

India recorded a jump of 23 positions in the World Bank's annual ranking of ease of doing business, the government said in a statement on Wednesday. India now ranks 77th in the annual list, as against 100 last year. The commerce ministry said that

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Government said that it holds "extensive consultations" with the central bank from time to time.

Clarifying that the government holds "extensive consultations" with the central bank from time to time, the Centre on Wednesday said that it accepts the autonomy of the Reserve Bank of India within the framework

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Caution prevailed in the markets a day after key indices rose around 2% each

Stock markets reversed early gains on Tuesday as losses in energy and metal stocks offset strength in IT shares. BSE benchmark index Sensex shed 176 points, or 0.5 per cent, to end at 33,891, while NSE's Nifty settled just shy of

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Revenue from operations jumped 21.3 per cent to Rs 32,081 crore.

Industrial conglomerate Larsen - Toubro Ltd posted a 22.6 per cent jump in September-quarter net profit, underpinned by higher order intake. Net profit came in at Rs 2,230 crore ($301.64 million) in the second quarter, compared with Rs 1,820 crore a year earlier, company said on

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On the 30-share Sensex, gains were led by HDFC, IndusInd Bank, Infosys, Axis Bank.

Domestic stock markets ended sharply higher on Wednesday led by financial services, IT and pharma shares. S-P BSE Sensex closed at 34,442.05, 1.63 per cent or 550.92 points higher, while the broader NSE Nifty settled at

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Sovereign gold rose by Rs 100 to Rs 24,900 per piece of eight gram.

Gold prices strengthened by Rs 70 to Rs 32,620 per 10 gram on Tuesday amid pick-up in festive demand, reported news agency Press Trust of India (PTI). Bullion traders said that due to the upcoming Diwali festival there has been a rise in gold coin demand. In Delhi, gold of 99.99

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These eight segments comprise 40.27 per cent of the weight of items included in the IIP.

Growth of eight infrastructure sectors slowed down to 4.3 per cent in September, the lowest in the last four months, as production of crude oil and natural gas declined. Previously, the lowest growth rate was in May 2018 when the core sectors expanded at 4.1

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An investigation raised possible problems over competition in the supply of certain types of steel

Brussels, Belgium: 

The European Union on Tuesday launched an in-depth probe into the proposed creation of a joint venture between Tata Steel and Germany's ThyssenKrupp, saying it could reduce competition.

ThyssenKrupp struck a deal in June to merge its

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Government officials have recently urged RBI to relax its lending restrictions on some banks.

The public spat between the government and the central bank became bitter on Tuesday as Finance Minister Arun Jaitley criticized the top banking regulator for failing to prevent credit excesses by banks between

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Miner Vedanta Ltd reported on Wednesday a 34 per cent fall in second-quarter net profit, hit by lower revenue from its zinc operations, rising costs and the shutdown of a smelter in southern India. The Indian unit of diversified mining group Vedanta Resources has been mired in disputes regarding its Tuticorin copper smelter in the southern state

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The RBI has said there is actually some credit growth in the non-banking financial company space

New Delhi: 

The Reserve Bank of India (RBI) on Tuesday said there was no liquidity crisis in the NBFCs or non-banking financial companies, assuaging the government's concerns that a cash crunch in the shadow banking space could have a ripple effect

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Jet Airways Diwali offer on flight tickets: Booking period ends on November 5, 2018.

Jet Airways is offering up to 30 per cent discount on domestic and international flight tickets under its 'Diwali Sale' offer. The offer is applicable on base fare in premiere and economy class flight tickets across the airline's network, as stated on its official

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Jet Airways (India) Ltd has received notices on payment delays from a few aircraft lessors, the troubled airline said on Wednesday.

The company also said its payments to the Airports Authority of India (AAI) are up to date and it had not received any "show-cause" notice from the body.

(Except for the headline, this story has not been edited by

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Bank of Baroda's provisions for bad loans fell 16.6 per cent Q-o-Q to to Rs 1,467 crore

Mumbai: 

Bank of Baroda posted a 19.7 per cent rise in second-quarter net profit on Tuesday as the lender made lower provisions for bad loans amid strong growth in retail banking.

Net profit rose to Rs 425 crore ($57.73 million) in the quarter ended September 30

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IL-FS hasn't stopped missing payments even after the government sacked the lender's board.

The government is examining options including an outright sale of Infrastructure Leasing - Financial Services Ltd., a person with knowledge of the matter said, amid attempts to stem defaults at the lender with $12.6 billion of debt.

A plan to be

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The loss was above the street estimate of a loss of Rs 240 crore, according to Refinitiv data.

Tata Motors Ltd on Wednesday reported a loss for the three months ended September, dented by weak Jaguar Land Rover sales and a one-off charge in respect to a subsidiary closure in Thailand. Retail sales of its Jaguar saloons and Land Rover sport utility

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Mastercard has started storing all India payments transaction data at its technology centre in Pune

New Delhi: 

Global card payments giant Mastercard is storing its new Indian transaction data locally, the company said on Tuesday, as it starts to comply with a regulatory directive which US companies unsuccessfully lobbied hard to dilute.

The Reserve

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In the wake of IL-FS crisis, SBI stepped up in a big way, said SBI Chairman Rajnish Kumar.

NEW YORK: In wake of the IL-FS crisis, efforts are underway by the government, RBI as well as SBI to try and stabilise the system "very quickly", and things are likely to return to normal in a couple of weeks, SBI Chairman Rajnish Kumar said here.

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Canara Bank Q2: Analysts had expected a loss of Rs 116 crore, according to Refinitiv data.

State-run Canara Bank Ltd reported a 15.1 per cent rise in second-quarter net profit on Wednesday, helped by a tax write-back. Net profit came in at Rs 300 crore ($40.56 million) for the three months ended September 30, compared with a profit of Rs 260 crore

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The government owns 78.3 per cent in the coal miner, according to data on the BSE.

The government will divest a 3-per cent stake in Coal India Ltd by selling up to 18.62 crore shares in the miner, the state-owned company said on Tuesday.

The government has a target to raise a record 1 lakh crore rupees from the sale of state assets in the current

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INR Vs USD: On Monday, the rupee had ended at 73.45 against the US dollar.

The rupee fell 16 paise to 73.61 against the US dollar in early trade on Tuesday, reported news agency Press Trust of India (PTI). Increased demand of the greenback from importers and sustained foreign fund outflows hurt the rupee's sentiment, traders were quoted as saying

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Lupin, the country's second-largest drug maker by revenue, posted a 41.5 per cent fall in second-quarter profit on Wednesday, hurt by higher expenses.

Net profit was 266 crore  ($36.00 million) in the quarter ended September 30, compared with a profit of Rs 455 crore a year earlier, Lupin said.

Analysts on average had expected a profit of Rs 273

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Tech Mahindra said its revenue from operations increased 13.5% to Rs 8,630 crore in Q2

Software services exporter Tech Mahindra posted a better-than-expected 27.3 per cent rise in second-quarter net profit on Tuesday, as it clocked more deals in the July-September period.

Net profit was Rs 1,064 crore ($144.51 million) in the three months ended

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Bank FD interest rate: Banks today pay annual returns up to 9.5 per cent on fixed deposits.

Many banks currently pay interest rates up to 9.5 per cent on term deposits - or fixed deposits (FDs) - up to Rs 1 crore. While major commercial banks pay interest rates in the range of 4-7.75 per cent to customers on FDs, small finance banks offer those

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Todays Gold Rate: This was the second straight session of gains for gold prices.

Amid festive season demand, gold prices surged to a near six-year high of Rs 32,650 per 10 gram, reported news agency Press Trust of India (PTI). Silver prices were, however, weak. Investor sentiment was positive ahead of

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Jet Airways said it would start the direct service on the Mumbai-Manchester route from November 5

Jet Airways on Tuesday announced addition of two new routes on its international network. The airline will commence non-stop flights between Mumbai and Manchester, and between Pune and Singapore this winter, it said in a press release. Jet Airways said

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Finance minister Arun Jaitley criticised the Reserve Bank of India (RBI) for failing to prevent lending excess in a speech on Tuesday.

"The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Jaitley said while speaking at an event in New Delhi.

Tensions between the finance ministry and the RBI have risen

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