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Sensex down 90 pts, Nifty below 12,200

Sensex down 90 pts, Nifty below 12,200

21-01-2020 comments

Mumbai (IANS) The benchmark Sensex opened lower on Tuesday after the International Monetary Fund (IMF) slashed India's 2019 growth estimates to 4.8 per cent from 6.1 per cent.

IMF cited a sharper-than-expected slowdown in local demand and…

Zomato acquires UberEats India for nearly Rs 2,500 crore

Zomato acquires UberEats India for nearly Rs 2,500 crore

21-01-2020 comments

New Delhi (IANS) Zomato on Tuesday announced that it has acquired Uber's Food Delivery Business in India in an all-stock deal and Uber will have 9.99 per cent stake in the Deepinder Goyal-led food delivery platform.

According to sources…

Govt to decriminalise Income Tax Act, PMLA

Govt to decriminalise Income Tax Act, PMLA

21-01-2020 comments

New Delhi/Chennai (IANS) The NDA government is moving to decriminalise the Income Tax Act and the Prevention of Money Laundering Act (PMLA) as part of steps towards restoring business confidence.

These are among the steps being taken to catapult…

IMF's Gopinath projects economic recovery for India in 2020-21

IMF's Gopinath projects economic recovery for India in 2020-21

21-01-2020 comments

United Nations (IANS) The International Monetary Fund, which sharply cut India's growth rate, is projecting a recovery in 2020-21, the organisation's Chief Economist Gita Gopinath said on Monday.

The recovery "should come from the…

Sensex slips 120 points in early trade

Sensex slips 120 points in early trade

20-01-2020 comments

Mumbai (IANS) The benchmark Sensex declined 120 points during the early trade on Monday owing to the selling in heavyweights.

Reliance Industries, HDFC Bank and TCS fell over 1 per cent on the NSE. Besides, the market breath was also negative…

Amazon India to ply 10,000 electric delivery vehicles by 2025

Amazon India to ply 10,000 electric delivery vehicles by 2025

20-01-2020 comments

Bengaluru (IANS) E-commerce giant Amazon India will deploy 10,000 electric vehicles (EVs) in its delivery fleet by 2025, the company said on Monday.

"The expansion of our electric vehicle fleet to 10,000 vehicles by 2025 is an integral milestone…

Budget 2020 may push back fiscal deficit MTFP target

Budget 2020 may push back fiscal deficit MTFP target

20-01-2020 comments

New Delhi (IANS) The fiscal deficit for FY20 and its roadmap for FY21 could be heading towards a recalibration with the February Budget slated to hint at the targeted 3 per cent fiscal deficit for the next financial year be pushed to 2022-23, people…

FM to set realistic nominal GDP target at 9.5-10%

FM to set realistic nominal GDP target at 9.5-10%

19-01-2020 comments

New Delhi (IANS) Finance Minister Nirmala Sitharaman is likely to stay conservative about the nominal gross domestic product (GDP) growth and set it at 9.5-10 per cent in the FY21 budget as the time for 'picking optimistic target' experiments…

Amid NBFC crisis, SBI reminds RBI of its role as lender of last resort

Amid NBFC crisis, SBI reminds RBI of its role as lender of last resort

18-01-2020 comments

New Delhi (IANS) Economists at the State Bank of India (SBI) have reminded the central bank that they should not forget their primary function of being the lender of last resort.

As the NBFC continues to be in distress, economists at SBI on…

Petrol, diesel prices cut for second consecutive day

Petrol, diesel prices cut for second consecutive day

17-01-2020 comments

New Delhi (IANS) Fuel prices dropped for the second consecutive day on Friday as price of petrol was cut by 14-15 paise and that of diesel by 15-16 paise across all major cities in the country.

Petrol now costs Rs 75.41 a litre in Delhi, Rs…

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