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For Personal Loans, RBI Issues New Norms With 2 Key Changes. See Details

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For Personal Loans, RBI Issues New Norms With 2 Key Changes. See Details

Banks and NBFCs have been asked to ensure compliance of the RBI’s personal loan instructions Mumbai: The Reserve Bank on Friday asked banks to provide fixed interest rate option to individual borrowers and directed the lenders to levy only reasonable penalty charges in case of default in EMI payments. The two decisions are expected to…

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Business

Moody’s affirms India’s sovereign rating at ‘Baa3’; says GDP growth to support increase in income level

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Moody’s affirms India’s sovereign rating at ‘Baa3’; says GDP growth to support increase in income level

Moody’s on August 18 affirmed India’s sovereign rating at ‘Baa3’ with a stable outlook and said high growth will support a gradual increase in income levels, which will further contribute to economic strength. | Photo Credit: Reuters Moody’s on August 18 affirmed India’s sovereign rating at ‘Baa3’ with a stable outlook and said high growth…

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Business

Tata Communications Challenges Centre’s Rs 991 Crore Licence Fee Demand

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Tata Communications Challenges Centre’s Rs 991 Crore Licence Fee Demand

Tata Communications challenged DoT’s Rs 991.5 crore licence fee demand New Delhi: Tata Communications has challenged Telecom Department’s Rs 991.5 crore licence fee demand pertaining to past years, in TDSAT, which has directed the DoT not to take any coercive action till the next hearing, the company said in a filing on Friday. The Department…

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Business

Chandrayaan-3 Lander slowed down to move it to lower orbit

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Chandrayaan-3 Lander slowed down to move it to lower orbit

The Lander Module (LM) successfully underwent a deboosting operation that reduced its orbit to 113 km x 157 km. | Photo Credit: Twitter/@isro A day after the lander module (LM) separated from the propulsion module (PM) , it successfully underwent a deboosting operation on August 18. The Indian Space Research Organisation (ISRO) said that the…

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Science

Sensex falls below 65,000; IT, metal stocks weigh on weak global trend

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Sensex falls below 65,000; IT, metal stocks weigh on weak global trend

File photo of stock trader looking at a share price on a screen at a brokerage house. | Photo Credit: Vivek Bendre Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65,000 mark on August 18, as investors offloaded IT, teck and metal energy stocks amid a…

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Business

Rupee falls 1 paisa to close at all-time low of 83.10 against U.S. dollar

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Rupee falls 1 paisa to close at all-time low of 83.10 against U.S. dollar

The rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the U.S. dollar | Photo Credit: V. Sudershan The rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the U.S. dollar on Friday, weighed down by a negative trend in domestic…

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Business

ISRO releases two videos of the Moon on August 18

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ISRO releases two videos of the Moon on August 18

A view of the moon captured by the Chandrayaan-3. Twitter/@isro The Indian Space Research Organisation (ISRO) on August 18 released two videos of the moon which was captured by India’s third moon mission Chandrayaan-3. The first video shows the moon captured by the Lander Position Detection Camera (LPDC) on August 15, 2023, and in the…

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Science

Explained | Drilling in the North Sea — history and environmental concerns

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Explained | Drilling in the North Sea — history and environmental concerns

File photo of a section of the BP Eastern Trough Area Project oil platform in the North Sea, around 100 miles east of Aberdeen, Scotland. | Photo Credit: AFP The story so far: U.K. Prime Minister Rishi Sunak recently backed plans for new fossil fuel drilling off Britain’s coast, worrying environment experts even as the…

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Science

Explained | What is RBI’s pilot programme for facilitating ‘frictionless’ and ‘timely’ credit?

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Explained | What is RBI’s pilot programme for facilitating ‘frictionless’ and ‘timely’ credit?

Image for representation | Photo Credit: NAGARA GOPAL The story so far: On August 17, the Reserve Bank of India (RBI) commenced a pilot programme endeavouring to evaluate the feasibility of the ‘Public Tech Platform for Frictionless Credit’. The announcement was first made when the central banking regulator enumerated developmental and regulatory policies following the conclusion…

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Business

Rupee Falls 1 Paisa To Close At All-Time Low Of 83.10 Against US Dollar

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Rupee Falls 1 Paisa To Close At All-Time Low Of 83.10 Against US Dollar

Rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar Mumbai: The Rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar on Friday, weighed down by a negative trend in domestic equities and foreign fund outflows….

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Business