Business

The Indian rupee on Tuesday dropped 7 paise to close at 71.01 against the US dollar as foreign fund outflows and subdued equities weakened forex market sentiment. However, easing crude oil prices and weaker greenback against rival currencies restricted the rupee fall to some extent. Foreign investors pulled out Rs 828.49 crore from Indian equities on Tuesday, according to exchange ...

Nirmala Sitharaman, Union Minister of Finance & Corporate Affairs reviewed the performance of the banks, here, today in a meeting with the top management of Public Sector Banks. Today, FM reviewed at length the implementation of series of measures, following extensive stakeholder consultations, announced since 23.8.2019, including consolidation, to support economic growth. A number of these related to the banking ...

Finance Minister Nirmala Sitharaman will hold a big meeting today (September 18) regarding the disinvestment of Air India, the public sector airline. Air India has incurred a huge loss of Rs 8,400 crore in the financial year 2018-19. These figures have recently been made public. In such a situation, this meeting of Finance Minister Nirmala Sitharaman is considered important. If ...

Air India posted an operating loss of around Rs 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials. Reflecting tough business conditions, the airline’s net loss stood at about Rs 8,400 crore while total revenues touched around ...

Finance Minister Nirmala Sitharaman on Saturday announced an over Rs 70,000 crore package for the exports and real estate sectors, including setting up of a stressed asset fund, as the government continued with firefighting measures to pull the economy out of a six-year low growth rate. A Rs 20,000 crore fund, with government putting in half of the amount, will ...

India’s overall exports (Merchandise and Services combined) in April-August2019-20* are estimated to be USD 227.36 billion, exhibiting a positive growth of 3.20 per cent over the same period last year. Overall imports in April-August 2019-20* are estimated to be USD 268.24billion, exhibiting a negative growth of 1.18per cent over the same period last year.   *Note: The latest data for ...

Only 19 per cent of employers in the country have bullish hiring plans for the next three months, while 52 per cent expect no change in their payrolls, says a global survey which predict softer employment outlook in many markets for the October-December quarter. According to the ManpowerGroup Employment Outlook survey released on Tuesday, that covered 5,131 employers across India, ...

Public sector lender State Bank on Monday announced yet another reduction in lending rates by 10 basis points across tenors. The new rates are effective Tuesday, the lender said announcing the third rate reduction in the current fiscal year. One year MCLR, to which all the retail lending rates are linked to, has been reduced to 8.15 percent from 8.25 ...

Union Minister for Micro, Small and Medium Enterprises Shri Nitin Gadkari has said that non payment and delay in payments to MSME enterprises will be dealt with very firmly. The Minister reiterated the Government’s commitment to solve long standing problems of the MSME sector and give it the required support so that it can realize its full potential in terms ...

A day after the massive plunge, the BSE benchmark Sensex on Wednesday recovered by nearly 162 points on emergence of buying mainly in metal and banking counters, but the gains were capped by auto stocks. Likewise, the NSE gauge Nifty rose 47 points to settle above the key 10,800-mark. After swinging 367 points in a highly volatile session, the 30-share ...