Business News

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Millers demand 40% import duty on sugar

Brazilian production starts from March and India needs to export at least 1.5 MT of sugar before that.

In a first, Sebi sends defaulter to six months in jail

This is the first time Sebi has ordered the imprisonment of a defaulter since it was given expanded powers last year.

Putin says economy will be cured, ruble continues slide

The ruble has fallen more than 45 per cent against the dollar this year.

Banks not in favour of lending to SpiceJet

Bankers feel the airline is in a similar situation like Kingfisher and see high risks ahead.

US Federal Reserve opens door wider to rate hike next year

The Fed dropped rates to near zero in December 2008 as it battled the financial crisis and deep recession.

SpiceJet resumes 75 flights after oil firms supply fuel

Airline had to first pay a part of its pending dues to the oil companies after which partial fuel supply was restored.

After consensus with states, Cabinet approves GST Bill

The Bill, however, lapsed with the dissolution of the Lok Sabha, requiring the new NDA government to introduce the Bill afresh.

As revenue mop-up lags, Orissa asks captive mines to raise output

FY15 target stood at Rs 6,346 cr, but by November-end, only Rs 2,625 crore could be collected.

RBI fines ICICI Bank, BoB for KYC violations

According to the RBI, it received a complaint from a “reputed statutory organisation” in August 2013 about fraud being perpetrated in five banks.

Jindal firms to SC: Cannot pay coal penalty by Dec 31

JPL and JSPL were charged R1,793 crore as penalty for illegal coal mining.

HDFC Bank launches banking app for mobiles from Varanasi

The PM’s constituency seems to have become the new hot spot for corporate launches.

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Life insurance cover under Jan Dhan comes with riders

Limited benefits: One account holder per family can avail health cover

Rupee falls to 10-month low on oil woes; Sensex slides

According to dealers, the Reserve Bank of India sold dollars through nationalised banks to stem the rupee’s fall.

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Bank mergers best done with mutual consent: SBI chief

Allow public sector banks to issue shares with differential voting rights.

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After rejection, ‘some headway’ on GST Bill; states meeting next week

States firm on keeping out petroleum products, thwart Centre’s plan to table Bill.