Business

Public sector banks disbursed a record Rs 2.52 lakh crore of loans during the festive month of October, the Finance Ministry said on Thursday. An amount of Rs 1.05 lakh crore was fresh lending, the Department Financial Services said in a statement. An amount of Rs 46,800 crore was given as working capital loan, it said. The government in September ...

Equity benchmark BSE Sensex opened over 260 points higher on Wednesday, propelled by a rally in index-heavyweight Reliance Industries which scaled a fresh intra-day peak in opening session. After hitting a high of 40,736.14 in early trade, the 30-share index pared some gains to quote 177.67 points, or 0.44 per cent, higher at 40,647.37. Similarly, the broader Nifty too reclaimed ...

E-commerce giant Amazon is doing “extremely well” in India, its founder and CEO Jeff Bezos has said while expressing hope for regulatory stability in the country. Bezos’ remarks came in response to a question on Amazon’s concerns over some Indian policies with regard to digitization. “Regulatory stability is the thing that we would always hope for India. Whatever the regulations ...

Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks. These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here. These legislations assume significance in the wake of scam in the ...

The Indian rupee appreciated by 18 paise to 71.78 against the US dollar in early trade on Friday as gains in domestic equity market and weakening of the American currency vis-a-vis other currencies overseas strengthened investor sentiments. At the interbank foreign exchange the rupee opened at 71.80 then gained further ground and touched a high of 71.78, registering a rise ...

Headline inflation is bound to rise further to 5 per cent for November, but despite the pinch in price rise, the Reserve Bank will go for two consecutive rate cuts on growth concerns, a report said on Thursday. The consumer price inflation fastened to 4.62 per cent for October in official data released on Wednesday, resulting in concerns over RBI’s ...

Equity benchmark BSE Sensex tumbled 330 points on Friday as investors pressed the exit button after Moody’s cut India’s credit rating outlook citing growth concerns. Profit-booking following the recent record-setting run and unease over frothy valuations also took their toll, analysts said. Trading on a weak note though the day, the 30-share Sensex briefly turned positive to hit a fresh ...

Snapping its seven-session winning streak, equity benchmark BSE Sensex on Tuesday dropped 54 points as investors booked profits at higher levels. After swinging 413 points during the session, the 30-share Sensex settled 53.73 points, or 0.13 per cent, lower at 40,248.23. The index touched an intra-day low of 40,053.55 and a high of 40,466.55. The broader NSE Nifty too slipped ...

Yes Bank on Friday reported a consolidated net loss of Rs 629.1 crore for the September quarter due to a spurt in bad loans. The private sector lender had posted a net profit of Rs 951.47 crore in the corresponding period of the previous fiscal. Sequentially, there was net profit of Rs 95.56 crore in the first quarter ended June ...

Market benchmark BSE Sensex surged over 293 points to hit its record intra-day high of 40,344.99 on Thursday led by rally in index heavyweights Infosys, SBI, HDFC Bank and TCS. After opening on a strong note, the 30-share index was trading 263.69 points, or 0.66 per cent, higher at 40,315.56 in morning session. The broader NSE Nifty too advanced 71.85 ...