Flipkart-Walmart deal: Tax dept expects details from Walmart in a fortnight
August 18, 2018 8:09:22 pm

Flipkart's existing management team will continue to lead the business.

Infosys CFO M D Ranganath resigns
August 18, 2018 12:41:19 pm

M D Ranganath, popularly called Ranga, will continue in his current position as chief financial officer till November 16, 2018, Infosys said in a stock exchange filing, without giving a reason for the resignation.

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August 18, 2018 7:02:14 am

This data was presented in a report of the Committee on Real Sector Statistics, which was submitted to the National Statistical Commission recently. The data shows that the only year India grew in double digits was 2006-07 when growth touched 10.08 per cent.

A significant fall in MSME credit growth in late 2016 was attributed to demonetisation.
August 18, 2018 3:41:34 am

Loans extended by NBFCs to MSMEs grew rapidly — at an annual average rate of 35 per cent — between December 2015 and March 2018. The divergent experiences of banks and NBFCs in terms of asset quality explains the difference in credit growth, the paper said.

The value of net issuances in the June quarter was a negative Rs 16,920 crore, latest data from Sebi website showed.
August 18, 2018 3:22:36 am

The RBI had initiated a PCA plan for some state-owned banks and that has taken away liquidity from the markets. “This has led to some tightening in credit supply to worthy borrowers. So, at margin, there is pressure on the credit supply,” said Dhawal Dalal.

Smoke rises from vehicles set on fire during protests in Tuticorin. (Express Photo/File)
August 18, 2018 3:08:19 am

A bench led by Justice R F Nariman said that ‘it is open to the state government to argue on maintainability after which the tribunal will give a finding on both maintainability and merit’. The matter is listed before NGT on August 20.

The Delhi high court on Wednesday questioned Reserve Bank of India’s decision to put a cap on withdrawals by banking customers using their ATM cards, saying account holders were being “unnecessarily taxed”.
August 18, 2018 3:02:59 am

A bench of Chief Justice Rajendra Menon and Justice V K Rao said the ATM facility provided by banks have lot of overhead costs, like salary of guards and power consumption charges, and therefore, there cannot be unlimited free ATM transactions.

Of course, the headline numbers are good primarily because of Bhushan Steel, which accounted for close to 64 per cent of the total claims by these 32 firms and an equal amount in recovery.
August 18, 2018 2:51:32 am

Financial creditors, such as banks, have managed to recover Rs 47,768 crore, or a little over 55 per cent of their claims, showed the data by insolvency regulator, compiled on the basis of the inputs provided by resolution professionals (RPs).

The rupee was not traded as the forex market remained closed.
August 18, 2018 2:43:50 am

Markets largely ignore rhetoric of global trade wars and rupee depreciation.

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August 17, 2018 9:30:16 pm

The report compares growth rates between old series (2004-05) and new series based on 2011-12 prices.

August 17, 2018 8:27:31 pm

On overall company's operations, Supertech Chairman said the company is targeting to deliver 10,000 units during 2018-19 fiscal. "We are investing Rs 60-70 crore per month on construction to execute our various projects," Mohit said on the sidelines of the event.

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August 17, 2018 7:59:06 pm

"We would like to inform you if the flying allowance is not paid immediately, we may not be available for flying duties," the Indian Commercial Pilots Association (ICPA) said in a communication to Air India's director of finance on Friday.

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August 17, 2018 4:40:13 pm

India is the world's biggest consumer of petroleum coke, which is a dark solid carbon material that emits 11 percent more greenhouse gases than coal, according to the Carnegie–Tsinghua Center for Global Policy.

Sensex rises over 250 points, Nifty reclaims 11,400 mark
August 17, 2018 10:58:18 am

Taking positive cues from global equities, the 30-share index was trading higher by 262.91 points, or 0.69 per cent, at 37,926.47. The index had lost 188.44 points in the previous session.

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August 17, 2018 1:45:17 am

The average monthly income of India’s rural households was Rs 8,059 in 2015-16 while the average expenditure stood at Rs 6,646, leaving them with surplus of Rs 1,413 to save or invest.

August 17, 2018 1:40:27 am

In the last MPC meeting held on August 1, five out of the six members voted for a 25 basis points increase in the Repo rate to 6.50 per cent and for retaining the Reserve Bank of India’s neutral policy stance amid various uncertainties on the growth and inflation fronts.

August 17, 2018 1:37:28 am

The counsel for operational creditors also alleged that there had been a great deal of misconduct by the RP.

August 17, 2018 1:32:09 am

The payment systems in India are not only comparable to any system, anywhere in the world, they also set standards and good practices for others to emulate, Urjit Patel said.

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August 17, 2018 1:28:11 am

In absolute terms, the current account deficit is expected to widen to $ 71.1 billion in 2018-19 from $48.7 billion in 2017-18.

RBI, Finance Ministry must step in to curb rupee depreciation: Assocham
August 17, 2018 1:22:54 am

On August 1, the Union Cabinet a deal to allow Life Insurance Corporation (LIC) raise its stake in IDBI Bank to 51 per cent. The government argued that the deal will help IDBI Bank come out of the PCA framework.