Economy News

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Kotak Mahindra Bank beats SBI to become India's 2nd most valuable lender

Kotak Mahindra Bank shares climbed 1.8 percent to a record Monday, exceeding SBI's market capitalization of 2.22 trillion rupees.

Apr 17, 2018

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Now Maharashtra, Bihar and Gujarat reel under cash shortage

Bankers believe there is hoarding of the Rs 2,000 notes by people leading to cash shortage.

Apr 17, 2018

EPFO to accept PF claims of above Rs 10 lakh offline now

The EPFO has said that PF withdrawal claims of over Rs 10 lakh, submitted offline via physical forms, will also be accepted now.

Apr 16, 2018

Alibaba's Taobao bans listing of cryptocurrency and ICO services

Taobao has announced that it will be banning the sale of cryptocurrencies, ICO's (initial coin offerings) and other virtual currency-related services from its platform effective on April 17, 2018.

Apr 16, 2018

Japan's monumental discovery of rare earths can supply the world for centuries

There are only a few economically viable areas where rare earth metals can be mined and they are generally expensive to extract.

Apr 16, 2018

UCO Bank fraud: Shares plunge 18% after CBI booked ex-chairman

UCO Bank shares plunged nearly 18 percent Monday after the CBI booked Arun Kaul, former chairman-cum-managing director of the bank in Rs 6.21 billion loan fraud case.

Apr 16, 2018

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India on currency manipulator watchlist: Should we be worried?

The Indian currency is now added to the 'watch list' of nations that may be intervening excessively in their foreign exchange markets and distorting trade flows.

Apr 16, 2018

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Idea, Vodafone may fire thousands of employees: Report

The merger of Idea and Vodafone could result in the loss of jobs for about a fourth of the telcos' combined 21,000-strong workforce in the next few months.

Apr 16, 2018

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Bad news! Govt not to raise EPF cover wage limit to Rs 21,000

The decision of not increasing the salary threshold may not go down well with workers' unions at a time of rising anti-government protests across the country.

Apr 16, 2018

US puts India on watch list over currency practices

The report of US department of treasury said that no major US trading partner was found to have met the legislative standards for currency manipulation.

Apr 14, 2018

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Sovereign Gold Bond scheme 2018-19 issue opens April 16: Know all details

The first tranche of Sovereign Gold Bond scheme for the current year 2018-19 will open for subscription from April 16 to April 20.

Apr 14, 2018

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Bangalore topped as most preferred city for MBA aspirants in India: Survey

Bangalore, Pune, Mumbai, Chennai, and Delhi are the top five cities that are of interest to MBA aspirants.

Apr 14, 2018

Coinsecure bitcoin theft: Exchange announces Rs 2 crore reward

Indian cryptocurrency exchange Coinsecure announces 2 crore reward to recover lost bitcoins and promises refund in 15 days to the investors.

Apr 14, 2018

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Markets weekahead: Infosys, Fed speeches, Inflation data, Earnings

The Indian markets will focus on political and trade tensions in the U.S., reaction to Infosys results, macro-economic data and a slew of Fed speeches in the coming week.

Apr 14, 2018

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Tax concession for start-ups with up to Rs 10 crore investment

Earlier several start-ups had received notices from tax authorities for violation of section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.

Apr 13, 2018