Business

“A new scheme to rebate state and central taxes and levies will be rolled out in three months and will be implemented in a phased manner for all sectors,” Goyal said.

DHFL has around Rs 7,800 crore of bonds and non-convertible debentures repayment coming due in 2019.

Despite the worsening financial performance of IFIN over the years, the key managerial personnel kept getting salary hikes and incentives, the fraud office stated in its chargesheet.

DHFL, which defaulted on repayment of bonds of Rs 1,000 crore, has AUM of Rs 1.3 lakh crore and borrowings of Rs 1 lakh crore as of December 2018, said the CLSA report prepared by

Premji, who turns 74 next month, will however remain associated as non-executive director of the company and as founder chairman.

NBFC stocks witnessed heavy selling pressure following the bond defaults by mortgage lender DHFL on June 4, which led to a slew of rating downgrades for the company.

The new measure is to provide an impetus to digital funds movement, the RBI said.

The scrip dived 15.86 per cent to close at Rs 93.90 on the BSE. During the day, it fell as much as 18 per cent to Rs 91.50 — its 52-week low level — even

We have been closely monitoring performance and developments in the NBFC and HFC sectors: Reserve Bank Governor

Azim Premji's son Rishad Premji will be replacing him as the Executive Chairman, and Chief Executive Officer (CEO) Abidali Z Neemuchwala will take over as the new MD, the company said in a statement.

The RBI on February 12, 2018, issued a framework on the resolution of stressed assets under which banks were asked to disclose defaults even of a day and have to find a resolution plan within

"With FCA pulling its merger offer, one has to wonder how much the French state is set on limiting Renault’s strategic and valuation opportunities despite having only a 15% stake," analysts at brokerage Jefferies wrote

The Real Time Gross Settlement System (RTGS) is meant for large-value instantaneous fund transfers while the National Electronic Funds Transfer (NEFT) System is used for fund transfers up to Rs 2 lakh.

"We have been closely monitoring the performance and developments in the NBFC and HFC sectors," Das told reporters during the customary post-RBI policy conference.

The central bank also lowered the economic growth forecast for the current fiscal to 7 per cent due to slowdown in domestic activities and escalation in global trade war.

The Commissioner of Central GST and Customs carried out search and seizure proceedings at various premises of the company on May 23, and further inquiry was conducted on May 24, at GST Bhavan office of

RBI Monetary Policy 2019 Repo Rate: This is the third straight interest-rate cut under RBI Governor Shaktikanta Das, who also heads the Monetary Policy Committee (MPC).

Forex traders said that foreign fund outflows and rising crude oil prices also kept pressure on the Indian rupee. The RBI's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy decision later in

The French government, which owns a 15% stake in Renault, had also pushed Fiat Chrysler and Renault for guarantees that France would not lose jobs, and for a dividend to be paid to Renault shareholders,

Top losers in the Sensex pack include Yes Bank, SBI, IndusInd Bank, Bharti Airtel, Vedanta, ICICI Bank, RIL, M&M and HDFC, shedding up to 2.91 per cent.

Amid surging output, U.S. commercial crude oil inventories surged by 6.8 million in week to May 31, to 483.26 million barrels, their highest levels since July 2017.

When Uber Copter arrives next month, it will only be available to members of the company’s loyalty program who qualify for the top two tiers, Platinum and Diamond, said a person familiar with the plans.

Amazon is competing against Wing, UPS and many smaller companies to create devices capable of delivering emergency supplies and consumer goods within minutes.

Users can now choose up to three options from a list of choices that includes straight, gay, queer, asexual, bisexual, and demisexual. Previously, users could only choose between men, women, or both.

At its last policy meeting, the central bank cut its GDP forecast for the current fiscal year to 7.2% from 7.4%. Still, the reading depends on how the crucial monsoon season pans out.