Business

Domestic equity benchmark BSE Sensex dropped over 100 points in early trade on Wednesday as investor sentiment dampened further after IMF cut India’s growth outlook. Massive foreign fund outflow too hit market mood here, traders said. After swinging nearly 250 point in highly volatile opening session, the 30-share index was trading 104.13 points or 0.27 per cent lower at 37,878.61 ...

The BSE Sensex crashed 560 points while the broader NSE Nifty closed much below the key 11,500-mark Friday after the government thwarted hopes of tax relief for FPIs. Lacklustre earnings, slowing consumption and already pricey valuations further kept a lid on buying sentiment, traders said. Led by a sell-off in auto and banking stocks, the 30-share Sensex cracked 560.45 points ...

India’s exports declined by 9.71 per cent to USD 25.01 billion in June 2019 compared to USD 27.7 billion in the same month last year due to a fall in shipments of gems and jewellery, engineering goods and petroleum products, official data released Monday showed. Imports too declined by 9 per cent to USD 40.29 billion in June 2019 against ...

Market benchmark BSE Sensex ended marginally higher after a volatile trade on Tuesday, snapping its two-day falling streak on the back of gains in index heavyweights RIL, L&T and Bajaj Finance. After swinging 378 points during the day, the 30-share index settled 10.25 points or 0.03 per cent higher at 38,730.82. The index hit an intra-day low of 38,435.87 and ...

Occurrence of frauds was enabled by laxity in the financial system, and the underlying causes have been systematically dealt with by the Government through comprehensive steps for reduction in occurrence of frauds, and their proactive checking and timely detection. The steps taken in this regard include, inter-alia, the following: Government has issued “Framework for timely detection, reporting, investigation etc. relating ...

Two days after a new fraud was reported in Punjab National Bank (PNB), the bank’s stock fell more than 10 percent on Monday. PNB had said two days ago that Bhushan Power and Steel Limited (BPCL) had fraudulently garnered Rs 3,805.15 crore. PNB shares were trading at 10.43 am at 73.95 per share, after which its shares declined by 9.54 ...

Public Sector Banks are to be further provided Rs 70,000 crore capital to boost credit for a strong impetus to the economy. To further improve ease of living, they will leverage technology, offering online personal loans and doorstep banking, and enabling customers of one Public Sector Bank to access services across all Public Sector Banks. While presenting Union Budget 2019-20 ...

The government has proposed to increase import duty on gold and other precious metals to 12.5 percent. This will lead to expensive gold and ornaments in the domestic market. In her budget speech, Finance Minister Nirmala Sitharaman proposed to increase customs duty on gold and other precious metals from 10 to 12.5 percent. The government has proposed this at a ...

Finance Minister Nirmala Sitharaman presented the country’s “Book Account” on Friday. It has got great relief in the corporate sector. Under the new proposal, now the companies doing annual business up to Rs 400 crore will be in the corporate tax slab of 25 per cent. Prior to this, 25 per cent of corporate tax was included in companies which ...

Banks have reported a massive 73 percent increase in incidents of fraud worth Rs 71,543 crore in FY19, a senior Reserve Bank official said Thursday. Till March 2019, the top five, 10 and 100 cases of frauds cumulatively reported constituted 24 percent, 34 percent and 70 percent of all frauds, respectively, a chief general manager with the RBI Jayant Dash ...