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Business / Good Returns

Govt Employees Will Get Housing Advance At Lower Interest Rates

Among various measures announced to push activity in the dull real-estate sector, Finance Minister Nirmala Sitharaman on Saturday announced lower interest rates on house-building advance for government employees. Sitharaman said that government employees form a major component of demand for housing

14 Sep 2019 4:38 pm
Govt To Set Up Rs. 10000 Crore Fund For Incomplete Housing Projects

In her briefing to the media, FM Nirmala Sitharaman announced a slew of measures to reinvigorate the ailing realty sector and said that a special window will be set up for offering funds to the housing projects that have slowed down

14 Sep 2019 4:21 pm
Finance Minister Announces Measures For Exports

Finance Minister, Nirmala Sitharaman today announced a slew of measures for exports. The Finance Minister has announced that the scheme for Remission of Duties or Taxes on Export Products will replace the Merchandise Exports from India Scheme. The new

14 Sep 2019 4:20 pm
Central Govt Currently Has No Outstanding Loans With RBI

According to the weekly statistical supplement released by the Reserve Bank of India (RBI) on Friday, the Central Government of India has no outstanding loans with the central bank under the ways and means advances in the week ended 6 September.

14 Sep 2019 2:22 pm
FD And Loan Interest Rates Are Likely To Fall Further And Faster In October

This week official data released by the National Statistical Office showed that the consumer price index (which is a measure of retail inflation in the country) for the month of August despite climbing to a 10-month high of 3.2 percent stayed

14 Sep 2019 1:18 pm
GoAir Plans IPO Issue To Raise Rs. 5000 Crore

GoAir, the country's fourth major airline by market share, is seeking to mop up Rs. 5000 crore through its initial public offer (IPO). In the offer, the company will offload approximately 25% or more of its stake, sources privy to the

14 Sep 2019 11:41 am
Gold Price To Scale Up To Over Rs. 50,000 Per 10gm In 2 Years: Citi

In September this year, owing to a host of factors including monetary easing measures by major central banks world over to tackle slowdown fears amid US-China trade woes has led the yellow metal to hit a 6-year high of $1566 per

14 Sep 2019 10:53 am
Accepting Payments Via RuPay Debit Cards To Get Cheaper For Merchants

On Friday, the National Payments Corporation of India (NPCI) said that it has rationalized merchant discount rate (MDR) for RuPay debit card transactions with effect from 20 October 2019. The rationalisation has been done across point of sale (PoS), eCom and

14 Sep 2019 10:50 am
CBDT Notifies E-Assessment Scheme For Faceless Tax Scrutiny

In an attempt to make the assessment process more transparent and corruption-free, the Finance Minister Nirmala Sitharaman earlier said that the tax department will promote faceless tax scrutiny. And continuing with it, the CBDT via a notification issued on September

13 Sep 2019 3:27 pm
Bank Employees To Go On A 2-Day Strike To Protest Mega Merger

The United Forum of Bank Unions (UFBU) which the umbrella body of nine bank employees unions, are going to stage a peaceful demonstration on 20 September outside the Parliament to oppose the government's recent mega public sector bank merger plan, a

13 Sep 2019 2:47 pm
Bank Of India Revises FD Interest Rates Twice In 10 Days

Bank of India revised its interest rates on fixed deposits (FDs) for the second time this month. The new rates came to effect on 10 September. The public sector bank had made its previous rate revision on 1 September,

13 Sep 2019 10:43 am
M&M Rolls Out Vehicle Subscription Service On Personal Vehicle Range

Mahindra & Mahindra (M&M), an automobile company, in tie-up with self-drive car rental firm Revv has launched a subscription-based service for its passenger vehicles. In the novel unique ownership model, the customers will be able to use a brand new car

13 Sep 2019 10:33 am
Rupee Rallies Past 71/US Dollar On Weakness In Crude Oil Price

Rupee has opened the session higher in trade at 71.01 per dollar against the previous close of 71.13. And later even moved past 71 levels to trade at 70.91 per US dollar. The gains in the home currency come amid

13 Sep 2019 9:56 am
SEBI Imposes Rs 12 Lakh Penalty On ICICI Bank For Disclosure Lapses

On Thursday, SEBI levied a total fine of Rs 12 lakh on ICICI Bank Ltd and its compliance officer Sandeep Batra for disclosure lapses, including delayed disclosure of binding agreement signed with Bank of Rajasthan. The regulator during an

13 Sep 2019 9:27 am
SBI Will Revise Service Charges From 1 October

The State Bank of India (SBI) will revise its service charges on deposits and withdrawals from 1 October. These services include cash withdrawals, deposits and maintenance of average monthly balance. Non-maintenance of average monthly balance Starting 1 October, the

12 Sep 2019 6:09 pm
Retail Inflation Rose By 3.21% In August, IIP At 4.3% In July

Retail inflation for the month of August was marginally higher at 3.21 percent from 3.15 percent in the previous month on the back of higher food prices, according to official data released by the government on Thursday. Data on Industrial production,

12 Sep 2019 6:01 pm
Passengers Of Delhi-Lucknow Tejas Express To Get Free Travel Insurance Worth Rs 25 Lakh

In a bid to promote its Delhi-Lucknow Tejas Express, IRCTC is offering passengers free rail travel insurance of Rs 25 lakh each along with luggage pick up service, exclusive lounges, taxi and hotel booking service. The privately-run train is likely to

12 Sep 2019 5:07 pm
Gold’s Recent Price Gains Reflected On Silver And Platinum As Well

Mirroring gold's price gains are other precious metals that also received attention from investors amid a dull global economic growth sentiment. Metals like silver and platinum also saw strong increase in demand as safe-haven assets, in the last few weeks. While

12 Sep 2019 3:53 pm
PM Modi Launches Kisan Mandhan Yojana

On Thursday, Prime Minister Narendra Modi launched the Pradhan Mantri Kisan Mandhan Yojana in Ranchi. The NDA government's ambitious pension scheme for farmers has an outlay of Rs 10,774 crore for the next three years. Small and marginal farmers

12 Sep 2019 3:19 pm
Gold And Silver Prices In India Continue Their Fall; Here’s Why

On Thursday, gold and silver prices in India continued their downward movement reflecting international trend. On MCX, gold futures (October 2019) were trading lower than its previous close hitting intraday high and low of Rs 37,947 and Rs 37,788 per 10

12 Sep 2019 1:38 pm
Paper Stocks Are Buzzing In Trade For Past Few Sessions: Here's Why

While the Indian benchmark indices have again make a comeback on improved global cues and have past the weakness resulted due to poor GDP number which have come in at a 6-year low. Few of the sectoral stocks have been buzzing

12 Sep 2019 1:28 pm
Hong Kong Exchange Makes An Official Bid For London Stock Exchange

On Wednesday, in an unexpected move, Hong Kong Exchanges and Clearing Ltd (HKEX) made a $36.6 billion bid to acquire London Stock Exchange Group PLC, which industry experts feel will face a number of financial and regulatory hurdles. HKEX also emphasized

12 Sep 2019 12:05 pm
Kotak Mahindra Bank Revises FD Rates

The banks across public and private space have been cutting down their FD rates for better transmission of monetary policy rates. On similar lines, now Kotak Mahindra Bank has revised FD rates on few of the tenures and the new rates

12 Sep 2019 12:02 pm
CBDT Relaxes Prosecution Rules For TDS And ITR Defaults

The CBDT has relaxed norms in relation to prosecution procedure specified in case of defaults on TDS payment whether it be quantum or the time lapsation. At the same time, it has eased action on tax filers who default by under-reporting

12 Sep 2019 11:17 am
CBDT Provides One-Time Opportunity To Compound Income Tax Offences

In its latest directive, the Central Board of Direct Taxes (CBDT) launched a one-time facility for taxpayers to apply for compounding of income tax offences. The deadline to apply for it is 31 December 2019. The CBDT said that this one-time

12 Sep 2019 11:15 am
Rupee Trades Strong At 71.40

Rupee on Thursday trades higher at 71.40, with a gain of almost 27 paise versus previous close of 71.66 per US dollar. Meanwhile, global sentiment has improved as Trump has delayed levy of tariffs on Chinese goods as trade talks approach

12 Sep 2019 9:32 am
The Long Awaited Midcap Rally That Is Just Not Happening

The one part of the market that would almost surely rally according to many analysts was the mid and small cap stocks. Since Jan 2018, the midcap index has fallen close to 25 per cent, while the carnage in individual stocks

11 Sep 2019 4:02 pm
The Long Awaited Midcap Rally That Is Just Not Happening?

The one part of the market that would almost surely rally according to many analysts was the mid and small cap stocks. Since Jan 2018, the midcap index has fallen close to 25 per cent, while the carnage in individual stocks

11 Sep 2019 4:02 pm
Milk Becomes Costlier Than Petrol In Pakistan

As per Pakistani media reports, price of milk in the country had spiked higher than that of petrol and diesel on the occasion of Muharram. A litre of milk in Karachi and Sindh Province was priced as high as Rs 140

11 Sep 2019 12:10 pm
Bank Of India Allows Customers To Make ATM Withdrawals Using UPI

Last week, Bank of India introduced a new card-less cash withdrawal feature to its ATMs that allow customers to withdraw cash using UPI QR code. The new feature could eliminate the rising concerns of card-related frauds at ATMs, wherein customers are

11 Sep 2019 11:21 am
Gold ETF Inflows Hit Over 6-Year High In August

In the month of August, gold exchange-traded-funds (ETFs) saw a net inflow of Rs 145 crore, the highest since December 2012. It is also the first inflow in 9 months as investor demand for the metal increased amid rallying prices and

10 Sep 2019 4:13 pm
Railways To Recharge Phones On Using Plastic Bottle Crushers At Stations

To promote Prime Minister Modi's initiative to put a stop single-use plastic, Indian Railways will be installing plastic bottle crushing machines at stations, a PTI report said. Further, those who use the machine will be rewarded with phone recharges. According to

10 Sep 2019 2:43 pm
Jack Ma Officially Steps Down As Alibaba’s Chairman

On 10 September, Chinese e-commerce giant Alibaba's globally known founder Jack Ma officially retires as the company's chairman. The retirement day coincides with his birthday. Ma, who turned 55 years old on Tuesday, leaves the daunting task of heading the multinational conglomerate

10 Sep 2019 12:32 pm
Rana Kapoor In Talks With Paytm To Sell His Stake In The Bank

Yes Bank's Rana Kapoor is reportedly in talks with Paytm to offload his ownership in the private bank which was cofounded by him. As per one of the source privy to the development, in August this year Rana Kapoor offered to

10 Sep 2019 9:51 am
Forex, Capital Markets Closed Today For Muharram

The stock markets and forex markets are closed today for Muharram. Buoyed by positive sentiments across the world wherein in the US Powell indicated to be accommodative and said she would take measures to sustain growth. Further, the benchmark

10 Sep 2019 9:04 am
IPPB Announces Launch Of Aadhaar Enabled Payment System

On Monday, India Post Payments Bank (IPPB) announced the roll-out of Aadhaar Enabled Payment System (AePS) which makes IPPB the single largest platform in the country to provide interoperable banking services to customers of any bank. On the event of IPPB's

9 Sep 2019 4:50 pm
Rupee Gains For The Fourth Straight Session

The Indian rupee strengthened for the fourth straight trading session on Monday. The domestic currency opened 5 paise higher at 71.67/dollar as against its previous close of 71.72 a dollar. In the afternoon session, the rupee hit an intraday high of

9 Sep 2019 4:09 pm
Gold Prices Mirror A Declining Trend As Risk Sentiment Improves; Next Price Trigger Will Be ECB Meet

In the global market, gold prices are on a declining trend as the risk sentiment has been cheered after the US Federal Reserve Chair Powell indicated of resorting to 'appropriate measures' for sustaining the economic expansion. Also, the earlier stance by

9 Sep 2019 1:33 pm
India Among Top 10 Countries To Do Business With Or Invest: Study

As per the study by CEO World Magazine, India commands the seventh spot as the best country to invest or do business with. Here is the complete list: The list includes predominantly ASEAN names and in it, Malaysia tops the list

9 Sep 2019 12:45 pm
Gold And Silver Prices Ease; Is The Falling Trend Temporary?

On Friday, the last trading day of the week, gold and silver futures saw sharp corrections from their all-time highs seen earlier this week. On MCX, gold futures ended 0.88 percent or Rs 341 lower at Rs 38,553 per

9 Sep 2019 12:25 pm
Equitas Holding Down By 10%: What Made The Stock Decline?

Equitas Small Finance Bank stock took a beating in Monday's trade by as much as 10%. The stock made an intra-day low of Rs. 104.40. The stock has cracked after the company has given a proposal to list the stock of

9 Sep 2019 12:22 pm
SBI Lowers MCLR Across All Tenures, Fixed Deposit Interest Rates Revised

On Monday, the State Bank of India (SBI) reduced MCLR (Marginal Cost of Lending Rate) on its loans across all tenures. Interest rates were also lowered on select fixed deposit tenures. Both the changes are effective from 10 September

9 Sep 2019 11:29 am
Axis Bank Revises Interest Rates On Fixed Deposits W.E.F 9 September

Axis Bank revised its domestic fixed deposit interest rates with effect from 9 September 2019. The new rates are effective for tenures ranging between 7 days and 10 years. Here are the interest rates for the general public and

9 Sep 2019 10:39 am
Markets Trade Lower: Nifty Falls Below 10,900 Points

The week began on a very dull note for the markets, with the Sensex falling about 50 points, while the Sensex dropped 167 points in trade. Heavyweights, HDFC and HDFC Bank were pulling the indices lower, while Maruti too dropped

9 Sep 2019 9:40 am