Business

NEW DELHI: Many Indians are switching off air conditioners in cars and going to gas pumps across state borders in a bid to save money, as petrol prices across the country hover at record-high levels. Protests against high petrol and diesel prices paralysed many parts of the

New Delhi: The Income Tax Department on Wednesday began inspection of the books of crisis-hit Jet Airways for alleged falsification of accounts and suspicious transactions, sources said.

The full service carrier, which is grappling with financial woes, is already under the scanner of markets regulator Sebi and the Corporate Affairs Ministry for

India's steel ministry has proposed increasing the effective import duty on some steel products to 15 percent from current rates ranging from 5 percent to 12.5 percent, according to two sources and a government document reviewed by Reuters, as the country looks to

The government on Thursday announced new interest rates on small savings schemes, including National Savings Certificate (NSC) and Public Provident Fund (PPF). The interest rates for small savings schemes were hiked by up to 0.4 per cent for the

Amazon.com Inc and domestic private equity firm Samara Capital have bought Aditya Birla Group-owned 'More' retail chain for an enterprise value of Rs 4,200 crore ($580.35 million).

Amazon's latest acquisition adds more heat to the US e-commerce giant's battle with Walmart Inc in the

India's central bank has enough reserves to defend the rupee, according to the State Bank of India and Nomura Holdings Inc., as the currency shrugged off the government's supportive measures to plunge to a fresh record.

The Reserve Bank of India can sell an

Oil marketing companies (OMCs) raised petrol prices in four metropolitan cities on Thursday while the rates of diesel were kept stagnant for second consecutive day. Petrol prices witnessed 6 paise per litre hike in Delhi, Mumbai and Kolkata. The rate was

INR Vs USD: The rupee is down more than 13% against the US dollar so far this year

The oil marketing companies (OMCs) kept the fuel rates unchanged on Wednesday across four metro cities after increasing the prices for six consecutive days. Petrol can be purchased at a price of Rs. 82.16 per litre in Delhi, according to a price notification of

Forex markets are closed on Thursday on account of Muharram, reported news agency Press Trust of India (PTI). On Wednesday, the Indian rupee rose sharply against the US dollar to close at 72.37, breaking its two-day fall. That marked the best single-day gain since March 2017. Heavy dollar

From tightening of norms on stocks and shortening of the time between a public offer and listing of shares, to reduction in fee charged by mutual funds from investors, market regulator Securities and Exchange Board of India (Sebi) on Tuesday announced a spree of changes in rules. The reform measures, announced by the regulator after a quarterly

INR Vs USD: On Tuesday, the rupee skidded by 46 paise to settle at 72.97.

Domestic stock markets are closed on Thursday on account of Muharram, reported news agency Press Trust of India (PTI). However, asian stocks, which are open today, rose in early trade, following a second day of gains on global share markets amid easing investor concern over the impact

LONDON: OYO Hotels, the largest and fastest-growing hotel chain in the country, aims to shake up Britain's budget accommodation market with a franchising and marketing strategy to sign up 300 independent hotels before 2020, its founder told Reuters on

Domestic stock indices opened on a positive note on Wednesday on value-buying in recently battered stocks amid strength in the rupee and positive global cues. At 10:02 am, the S-P BSE Sensex advanced 105.54 points or 0.28 per cent to trade at 37,396.51. The broader Nif

NEW DELHI: Taking cognizance of lack of long-term jobs, the Ministry of Labour and Employment on Wednesday said it has rolled out a scheme to financially support those who lost their jobs even as it relaxed norms for its other benefits. The

Budget passenger carrier IndiGo has announced the introduction of its first daily flight between Amritsar and Dubai, said the airline in a press release issued today. Additionally, the airline will also operate flights between Kolkata-Cochin and Bangalore-Pune. All these services

Mumbai: Unveiling more reform measures for the securities market, market regulator Sebi or Securities and Exchange Board of India on Tuesday announced revised KYC (Know Your Customer) norms for foreign investors, reduction in the listing time after a public offer to three days, and lower charges levied by mutual funds from investors.

In a

MUMBAI: The Reserve Bank of India (RBI) on Thursday liberalised some aspects of the external commercial borrowings (ECBs) policy including those related to rupee-denominated bonds to help check rupee depreciation. "It has been decided to allow eligible ECB borrowers who are

Gold prices rose by Rs 50 to Rs 31,660 per 10 gram at the bullion market on Wednesday, reported news agency Press Trust of India (PTI). According to traders, gold prices advanced today in tandem with a firming trend overseas amid persistent buying by local jewellers. Dollar weakened

Mumbai: Hours after an official of securities market regulator Sebi or Securities and Exchange Board of India said that ICICI Bank has filed for settlement through consent mechanism, the private lender denied filing any such application. The stock market regulator provides for an out-of-the-court settlement procedure to settle cases - called

MUMBAI: Leading stock exchanges BSE and NSE have received the securities market regulator SEBI's approval to offer platforms for commodity derivatives trade from October 1, 2018.

The exchanges would begin trading in commodity derivatives with

The domestic stock markets ended lower on Wednesday. The S-P BSE Sensex settled at 37,121.22, down 169.45 points or 0.45 per cent and the Nifty50 index of the National Stock Exchange (NSE) ended at 11,234.35, with a loss of 44.55 points or 0.39 per cent. The

Small finance banks often pay higher interest rates on fixed deposits than their larger peers. While commercial banks, such as State Bank of India (SBI), ICICI Bank and HDFC Bank, pay interest rates to the tune of 3.5-7.75 per cent on term deposits - or fixed

India Post, which runs the postal network of the country, offers nine saving schemes. Saving schemes in post offices offer interest rates between 4 per cent and 8.3 per cent, according to India Post's website, indiapost.gov.in. The lowest interest rate

Iceland's WOW air is offering flight tickets for the US, Canada and Iceland from Rs 13,499 in a special offer, the airline said. WOW air flight tickets from Rs 13,499 for several destinations are one-way fares via Iceland, the low-fare, long-haul airline,

Mumbai: Investors have increased bets that the Reserve Bank of India (RBI) will need to raise interest rates at least two more times this year to shore up the battered rupee after previous efforts to defend the currency failed to sway markets.

The government's latest measures to support the rupee announced last week were particularly underwhelming

Yes Bank said on Wednesday that Rana Kapoor received approval from the Reserve Bank of India (RBI) to continue as its CEO and managing director till January 31 next year. However, he had sought a three-year extension till August 31, 2021,

MobiKwik, a digital financial services platform, is offering fifty per cent discount on petrol prices today, a press release issued by the company said. MobiKwik's flash offer is only valid till 9 pm on Wednesday. Under this one-day offer on petrol prices, MobiKwik users can use SuperCash

Bhubaneswar: National Aluminium Co Ltd plans to invest Rs 5,520 crore ($756.4 million) in Odisha to expand capacity, a government statement said on Tuesday.

The company plans to manufacture aluminium products and a proposal has been sent to a panel headed by the state's chief minister for approval, the statement added.

Odisha has received investment