Business News
Reliance Jio takes over from Bharti Airtel as service provider for Railways from January 1
Railways has been using Bharati Airtel for over six years as its telecom provider for 1.95 lakh mobile phone connections used by its employees in closed user group (CUG) across the country for which the railways paid around Rs 100 crore bill per year, they said.
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Renault keeps Carlos Ghosn as CEO despite arrest in Japan
Renault's board of directors announced late Tuesday that the No. 2 at the company, Chief Operating Officer Thierry Bollore, would temporarily fill in for Ghosn.
No end in sight for crypto sell-off as Bitcoin approaches $4,000
Bitcoin fell as much as 13 per cent to $4,051, bringing this week’s decline to more than 25 per cent. It traded at almost $20,000 last December.
Sensex falls over 200 points on weak global cues
The 30-share was trading 215.44 points, or 0.61 per cent, lower at 35,259.07 points. The gauge had lost 300.37 points Tuesday.
PSBs’ second quarter provisions 1.5 times their operating profit
In the September quarter of FY19, the same set of public-sector banks (PSBs) had notched up a provisioning burden worth 1.4 times their operating profit.
Drugs and medical devices: ‘Price cap helped patients save around Rs 15,000 crore’
According to the estimates of the National Pharmaceutical Pricing Authority (NPPA), patients across the country have saved around Rs 15,000 crore under the government’s initiative of ensuring affordable, quality medicines for all, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said in a statement.
Rupee gains for sixth session; Sensex falls 300 points
The rupee has gained 143 paise in the last six trading sessions. This is the sixth straight session of gains for the domestic unit as the US dollar weakened against some currencies overseas.
Delhi airport charges raised seven times
GMR Infra-run Delhi International Airport (DIAL) had sought a hike in UDF on the ground that the current tariffs were below the base airport charge set out in the government agreement.
IL&FS misses Rs 57.29-crore repayments
Prior to this, IL&FS on Monday said it defaulted on principal and interest of over Rs 307 crore with respect to deposits from MUDRA (Micro Units Development & Refinance Agency) due on November 17.
EPFO: 9.73 lakh new members in September; rest 12 months’ data revised down
With the series of revisions, the enrolment numbers for September 2017-March 2018 now stand at 29.77 lakh, 24.4 per cent lower than the first estimate of 39.35 lakh (as per government release dated May 25).
Committee on RBI reserves in a week
The committee may have members from outside the government and the RBI to look into these issues, sources said. The composition of the committee will be decided jointly by the finance ministry and the RBI.
Economic constraints making duty elimination difficult: Commerce Ministry
Government sources in know of the matter told The Indian Express that India has also invoked the fact about US imposition of import tariff on steel and aluminum to protect its domestic industries as an import of 30-35 per cent of their requirements was considered a national economic and security risk.
RBI reserves: Revaluation gain not to be considered
The considered view is that the gains recorded because of revaluation or owing to changes in the price of securities are notional and it would be prudent not to transfer funds from this reserve.
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