Business

Telecom operators may face a maximum penalty of Rs 10 lakh for call drops which will now be measured at mobile tower level instead of telecom circle, as per the new quality of service rules issued by regulator TRAI on Friday. “We have proposed financial disincentive in the range of Rs 1-5 lakh. It is a graded penalty system depending ...

A strong global trend and intensifying local demand turned out to be a potent mix for gold prices that surged Rs 300 to Rs 30,050 per 10 grams today. Silver surpassed the Rs 40,000 level again with a sharp jump of Rs 900 at Rs 40,200 per kg, with industrial units and coin makers stepping up demand. Minutes from Federal ...

The Reserve Bank of India (RBI) today said it will pay Rs 30,659 crore dividend to the government for the year ended June 30, less than half of what it paid in the previous year. The central bank had in the previous year paid Rs 65,876 crore dividend to the government. “The Reserve Bank’s Central Board, at its meeting held ...

The government today asserted that the new 500 and 2,000 rupee notes have single unique dimension, a statement that came on a day when opposition parties led by the Congress stalled proceedings in the Rajya Sabha alleging that notes having different sizes. “Bank notes in each denomination has a distinct dimension. The size of new design Rs 500 bank note ...

Recently, Minister of State for Finance Santosh Kumar Gangwar in a written reply informed the Rajya Sabha that as on July 27, 11,44,211 PANs have been identified and deleted or de-activated in cases where multiple PANs were found allotted to one person. A person cannot hold more than one PAN. A penalty of Rs. 10,000 is liable to be imposed ...

The Reserve Bank today slashed benchmark lending rate by 0.25 per cent to 6 per cent citing reduction in upside risk to inflation, a move that will lower EMIs for home, auto and personal loans. This is the first rate cut since October 2016 and the interest rate is now at 6-year low. In line with record low retail inflation, ...

The Government has launched a new scheme namely “Financial Support to MSMEs in ZED Certification Scheme”. The objective of the scheme for promotion of Zero Defect and Zero Effect (ZED) manufacturing amongst micro, small and medium enterprises (MSMEs) and ZED Assessment for their certification so as to: • Develop an Ecosystem for Zero Defect Manufacturing in MSMEs. • Promote adaptation ...

The Reserve Bank of India (RBI) has stopped printing the ₹ 2,000 currency notes and will not be bringing new notes of that denomination in the current financial year, according to a Livemint report on Tuesday. Officials of the central bank reportedly told the newspaper that the RBI had also accelerated the process of printing the Rs 200 currency notes. ...

Creating history, the NSE Nifty today breached the 10,000 level for the first time while the BSE Sensex hit another record high of 32,374.30 in opening trade led by rally in metal, banking, realty and FMCG stocks. The 50-issue Nifty breached the historic 10,000 level by gaining 44.90 points, or 0.45 per cent, to trade at all-time high of 10,011.30, ...

The suspense behind the 4G enabled phone developed by Jio was finally unveiled on Friday. Although the phone is effectively free of cost it does come with a security deposit of Rs 1500, which is entirely refundable after 3 years. A lot of the attention is being bestowed upon the “effective price” of Rs. 0 that Mukesh Ambani announced at ...