Category: Business

Business

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

Posted on By admin

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…

Read More “Tata Communications Challenges Centre’s Rs 991 Crore Licence Fee Demand” »

Business

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

Posted on By admin

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…

Read More “Sensex falls below 65,000; IT, metal stocks weigh on weak global trend” »

Business

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

Posted on By admin

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…

Read More “Rupee falls 1 paisa to close at all-time low of 83.10 against U.S. dollar” »

Business

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

Posted on By admin

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…

Read More “Explained | What is RBI’s pilot programme for facilitating ‘frictionless’ and ‘timely’ credit?” »

Business

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

Posted on By admin

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….

Read More “Rupee Falls 1 Paisa To Close At All-Time Low Of 83.10 Against US Dollar” »

Business

RBI issues fresh guidelines asking banks, NBFCs not to levy penal interest on borrowers in case of default 

Posted on By admin

Representational image. File | Photo Credit: Reuters Reserve Bank of India (RBI) has issued fresh guidelines to the Regulated Entities (REs) such as commercial and other banks, Non-Banking Finance Companies (NBFCs) and other lenders to ensure reasonableness and transparency in disclosure of penal interest.  This follows findings that many REs are using penal rates of…

Read More “RBI issues fresh guidelines asking banks, NBFCs not to levy penal interest on borrowers in case of default ” »

Business

Rupee rises 7 paise to 83.02 against U.S. dollar

Posted on By admin

Image used for representational purpose only. | Photo Credit: Reuters The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.02 against the U.S. dollar in early trade on August 18 as the American currency retracted from its elevated levels. However, a muted trend in domestic equities, foreign fund outflows and…

Read More “Rupee rises 7 paise to 83.02 against U.S. dollar” »

Business

Markets decline on weak global trends, foreign fund outflows

Posted on By admin

Markets also declined as IT stocks slipped. File. | Photo Credit: PTI Equity benchmark indices fell in early trade on August 18 amid bearish global cues and fresh foreign fund outflows. Markets also declined as IT stocks slipped. The 30-share BSE Sensex was down 297.62 points to 64,853.40. The NSE Nifty dipped 88.75 points to…

Read More “Markets decline on weak global trends, foreign fund outflows” »

Business

Supply shocks not over, inflation to average well above 6% in Q2, say RBI officials

Posted on By admin

 “The vulnerability of the economy to recurring incidence of vegetable price shocks, especially ahead of and during the monsoon, warrants major reforms in perishable supply chains.” | Photo Credit: PTI The incidence of supply shocks was not over and the elevation in vegetable prices had extended into the first half of August, RBI officials wrote in an article in the…

Read More “Supply shocks not over, inflation to average well above 6% in Q2, say RBI officials” »

Business

Markets snap 2-day winning run; Sensex slumps nearly 390 points on weak global cues

Posted on By admin

The bull statue at Bombay Stock Exchange (BSE) building, in Mumbai. File | Photo Credit: PTI Snapping their two-day winning run, equity benchmarks Sensex and Nifty closed in the negative territory on Thursday, tracking losses in index majors Reliance Industries, ITC, and HDFC bank amid a weak trend in global markets. The 30-share BSE Sensex…

Read More “Markets snap 2-day winning run; Sensex slumps nearly 390 points on weak global cues” »

Business