Economy News

Air India gets another lifeline as govt decides to infuse additional Rs 980 crore

A major part of these funds - around Rs 550 crore - will be used to service interest on non-convertible debentures (NCDs) that are due in September.

Aug 31, 2018

Rupee hits fresh low of 71; drops 40 paisa against the US dollar

Apart from high crude oil, the outflow of foreign funds from the Indian equity and bond markets has had an adverse impact on the rupee.

Aug 31, 2018

Is Modi govt planning massive 15% hike in natural gas prices?

This hike could be seen as a means to profit in the oil market in India in companies like ONGC and Oil India.

Aug 30, 2018

SBI warns of 'noticeable increase' in counterfeit notes detected in new Rs 500, Rs 2,000 notes

The report said that there was a "noticeable increase" in the fake currencies detected in the denomination of the new Rs 500 and Rs 2,000 notes which are up by 4,178 per cent and by 2,710 per cent respectively

Aug 30, 2018

Chanda Kochhar case: ICICI tells SEBI that it was unaware of the conflict of interest

ICICI bank was responding to a show cause notice issued by SEBI on 23rd May, the bank submitted that it was not aware of any conflict of interest and hence could not make any disclosure to the market regulator which is mandatory under the listing regulations.

Aug 30, 2018

99.3% demonetised notes returned to banks: RBI

RBI spent Rs 7,965 crore in 2016-17 on printing new Rs 500 and Rs 2,000 and other denomination notes.

Aug 29, 2018

Google Pay makes instant bank loans easier than ever for Indian users

Google has rebranded its payments app from Google Tez to Google Pay and introduced several new features and tie-ups. Read all about it here.

Aug 29, 2018

Bengaluru-based startup ZestMoney raises $13.4 million from Xiaomi

The series A funding was led by PayU which also participated in the current round of funding along with other existing investors — Ribbit Capital and Omidyar Network.

Aug 28, 2018

Private power sector companies to face insolvency proceedings on default of Rs 1.7 lakh crore loan

The Reserve Bank of India had earlier this year tightened the norms for clearing bad debts by setting timelines for resolving the stressed asset within 180 days.

Aug 28, 2018

Rupee has not depreciated to a worrying level, govt must focus on CAD: Raghu Ram

Rajan, who was RBI governor for three years till September 2016, said that this is a time where countries should be focusing on getting the macro stability in order.

Aug 28, 2018

Kerala floods: Bill Gates' foundation pledges to donate Rs 4 crore for relief fund

The Gates Foundation's Emergency Response program aims to help accelerate rapid responses to natural disasters and complex emergencies through the quick disbursement of funds to humanitarian organizations.

Aug 27, 2018

Central Govt to speed up disinvestment process to achieve Rs 80,000 crore target

For the financial year 2019, the government has just managed to raise Rs. 9,200 crore as opposed to the target set at Rs. 80,000 crore. It still needs to generate an additional Rs. 50,000 crore to achieve Rs. 59,000 target by year-end.

Aug 27, 2018

Corporate India witnesses sharp decline in employment growth since last decade

Since all the employment data is not shared by these firms, the assessment was done on the basis of creating four sets of time periods with a common sample for each time-period to calculate the jobs growth.

Aug 27, 2018

Another stake sale of an Indian retail player? Google may invest in Future Group

The Future Group is looking for an additional capital infusion through a strategic partnership to streamline operations and increase profitability amid the deep-pocketed retailers is battling it hard to capture the booming Indian retail market.

Aug 27, 2018

Big victory for Cyrus Mistry: NCLAT says Tata Sons can't force him to sell shares

The final judgement on the conversion of the company will be taken by the two-judge NCLAT bench, headed by Justice S.J. Mukhopadhyay, after hearing final arguments next month.

Aug 24, 2018