CBI books Frost Intl in Rs 4,000-cr fraud, raids various places

New Delhi (IANS) The Central Bureau of Investigation on Tuesday carried out searches at various locations in Mumbai and Uttar Pradesh after filing a case against Frost International Ltd, a Mumbai-based company involved in merchant trading and import…

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

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…

Govt to decriminalise Income Tax Act, PMLA

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…

Zomato acquires UberEats India for nearly Rs 2,500 crore

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…

Sensex down 90 pts, Nifty below 12,200

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…

Budget 2020 may push back fiscal deficit MTFP target

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…

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

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…

Sensex slips 120 points in early trade

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…

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

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

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…