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

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

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…

More than 300 items may see customs duty hike in Budget

New Delhi (IANS) As a measure to boost domestic small and medium industry, the government may consider a hike in customs duty on over 300 items like toys, furniture, footwear, coated paper, rubber items among other in the Union Budget.

Besides…

Sensex tops 42,000 for the first time

Mumbai (IANS) India's benchmark equity index, Sensex, on Thursday touched a record high of 42,000. This came after the US and China signed the first phase of the trade deal.

However, Sensex turned flat after hitting 42,000 mark. At 11.54…

Markets open in red

Mumbai (IANS) The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a negative note during the morning session of the trade.

The Sensex of the BSE opened at 41,969.86 -- the high point, and then touched a low of 41,830.54.

It…

Airtel raises funds to meet AGR dues

New Delhi (IANS) To meet the AGR dues of Rs 35,500 crore by January 23, Bharti Airtel on Friday came closer to arrange the funds as it announced allotment of Rs 32.35 crore equity shares to eligible buyers at an issue price of Rs 445 apiece as part…

ICF set to achieve target of 4,000 coaches in 19-20

New Delhi (IANS) The Integral Coach Factory (ICF) in Chennai is all set to meet its target of manufacturing 4,000 coaches in 2019-20 as it has manufactured over 3200 coaches in a period of nine months, railway officials said on Tuesday.

A senior…

BJP MP targets Microsoft CEO: Literate needs to be educated

New Delhi (IANS) Microsoft CEO Satya Nadella statement that "CAA is just bad for India" has not gone down well with the BJP, and party MP Meenakshi Lekhi trained guns at the corporate biggie on Tuesday.

Calling it a "perfect example" of "How…

Budget may offer flat tax rate sans exemptions to individuals also

New Delhi (IANS) The government is considering a proposal to extend further incentives to salaried taxpayers in the upcoming budget. The Finance Ministry may allow individual taxpayers to pay a lower flat rate of tax if they forego all exemptions.

Amazon's Bezos arrives in India, pays homage to the Mahatma

New Delhi (IANS) E-commerce major Amazon's global CEO Jeff Bezos, who is visiting India, paid homage to Father of the Nation Mahatma Gandhi at Raj Ghat on Tuesday.

Bezos, who is ranked amongst topmost global billionaires, shared a video…