Consensus eludes Jalan panel on RBI surplus, report delayed

New Delhi (IANS) The Reserve Bank of India (RBI) panel deciding on norms for transfer of the central bank's surplus funds to the government has further delayed submitting its report, an official said on Monday.

As the differences continue…

Flipkart co-founder sells part stake to Walmart for 531 cr

Bengaluru (IANS) Binny Bansal, the co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76.4 million (Rs 531 crore) to world's retail giant Walmart's Luxembourg entity FIT Holdings SARL,…

RBI Deputy Governor Viral Acharya resigns

Mumbai (IANS) RBI Deputy Governor Viral Acharya has quit six months before the end of his term, sources said on Monday.

Acharya had joined as the RBI Deputy Governor in January 2017. The Reserve Bank of India (RBI) did not respond to queries…

Moderate outlook for manufacturing in Q1: FICCI survey

New Delhi (IANS) The outlook for the country's manufacturing sector in the April-June quarter of the current fiscal has moderated as only 41 per cent of respondents in a FICCI survey expected higher output growth during the ongoing quarter compared…

IFCI looks to garner Rs 2,000 cr from stake sales in NSE, Clearing Corp

New Delhi (IANS) Government-owned Non Banking Financial Company IFCI is looking to sell its stakes in National Stock Exchange (NSE) and Clearing Corporation of India (CCI) which it says can fetch up to Rs 2,000 crore depending on the market conditions.

Infosys using automation to transform clients' business: Nilekani

Bengaluru (IANS) Renewing legacy systems but discarding legacy mindsets, India's global software major Infosys is relying on automation for digital transformation of their clients' business, Chairman Nandan Nilekani said on Saturday.

"We…

GST Council focus now on easing compliance, curbing tax evasion

New Delhi (IANS) With the Goods and Services Tax (GST) regime stabilizing after a series of rate rationalizations, the focus of the government has now clearly shifted to easing the compliance burden and containing tax evasion.

In its 35th meeting,…

GSP withdrawal won't have major impact on India: Goyal

New Delhi (IANS) Commerce Minister Piyush Goyal on Friday reiterated that the withdrawal of generalized system of preferences (GSP) by the US will not have significant impact on India.

The GSP allowed Indian traders and exporters duty-free…

Sensex down 190 points, Nifty below 11,800

Mumbai (IANS) After opening on a flat note, the benchmark Sensex fell over 190 points during the early trade on Friday.

Investor sentiment took a hit after oil prices rose sharply.

Brent crude, the global oil benchmark, surged over 5…

Clear indication of economy losing traction: RBI Governor

Mumbai (IANS) Reserve Bank of India Governor Shaktikanta Das had, in the last Monetary Policy Committee (MPC) meeting, said that there is clear evidence of economic activity losing traction while giving the rationale for a rate cut.

"Overall,…