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Clarity on counter cyclical, fiscal steps by Centre will help, says RBI governor Shaktikanta Das

Special Correspondent Timing of the rate cut is also very important to optimise its impact, says the RBI Governor

India’s forex reserves fell to $274.8 bn in September, 2013, during the ‘taper tantrums’ of the U.S. Federal Reserve in 2013, that year.

India’s forex reserves cross $450 billion for the first time

Special Correspondent Central bank buys dollars to check sharp appreciation of rupee

The minimum capital for setting up an SFB has been mandated at ₹200 crore.

RBI lays down guidelines for payments banks’ SFB licence

Special Correspondent Approval only after 5 years of operations, says central bank

Retail lending, however, is growing at a decent rate, the bank said.

Lack of demand for corporate loans, says SBI

PRESS TRUST OF INDIA ‘Retail lending growing at decent rate’

CPPIB to invest $600 mn via NIIF

Cybersecurity: Wipro plans units in Australia

RBI keeps repo rate unchanged at 5.15%; reduces growth forecast to 5%

Safety first: Data such as biometrics can be processed only with the explicit consent of the person. ap

Union Cabinet approves introduction of Personal Data Protection Bill in Parliament

Bharti Airtel board approves raising up to $4 billion

PTI The board for now has given its go-ahead to raise up to $3 billion and has also approved raising an additional $1 billion

UBL pitches for lower tax, duty to help bring down beer prices

Mini Tejaswi Firm unveils first non-lager beer from Kingfisher stable

Cabinet okays bond ETFs

Special Correspondent Bharat Bond ETF would be India’s first corporate bond exchange traded fund

Opinion & Analysis

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serendipities Economy

Interest rates and the obscure world of negative yields

Keerthik Sasidharan It is strange and surreal that nearly 27% of the world’s bonds offer negative yield

Searching for reform signals

M.Govinda Rao While the Budget shows commitment to fiscal consolidation, there are very few measures that can steer the economy to acceleration

A Budget that goes nowhere

C. Rammanohar Reddy It would seem that since the government is unable to catalyse domestic investment or fund public investment, it is now turning abroad to fuel growth

Markets

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A view of the BSE building in Mumbai. File

Markets end lower in a see-saw trade as RBI surprises with status quo

PTI Benchmark indices Sensex and Nifty closed lower in topsy-turvy trade on Thursday after the Reserve Bank surprised with its decision to hold key policy rates. At the closing bell, the 30-share BSE gauge Sensex was lower by 70.70 points or 0.17% at 40,779.59. The index swung between losses and gains after the central bank kept the rates unchanged. The 50-scrip NSE Nifty settled the day with a loss of 24.80 points or 0.21% at 12,018.40. On the Sensex chart, Bharti Airtel, Tata Steel, IndusInd

Representational image. File

Gold falls ₹74, silver tumbles ₹771

PTI Gold prices on Thursday fell by ₹74 to ₹38,985 per 10 gram in the national capital on rupee appreciation. The precious metal had closed at ₹39,059 per 10 gram in the previous trade, according to HDFC Securities. Silver also dropped by ₹771 to ₹45,539 per kg from ₹46,310 per kg on Wednesday.“Spot gold for 24 Karat in Delhi declined by ₹74 on rupee appreciation along with strong Asian currencies. The spot rupee was trading 7 paise stronger against the dollar during the day,” HDFC Securities

Economy

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India’s forex reserves fell to $274.8 bn in September, 2013, during the ‘taper tantrums’ of the U.S. Federal Reserve in 2013, that year.

India’s forex reserves cross $450 billion for the first time

Special Correspondent Central bank buys dollars to check sharp appreciation of rupee

interview | shaktikanta das Business

Clarity on counter cyclical, fiscal steps by Centre will help, says RBI governor Shaktikanta Das

Special Correspondent Timing of the rate cut is also very important to optimise its impact, says the RBI Governor

Industry

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JLR India rolls out new Jaguar XE starting at ₹44.98 lakh

Mahindra launches BSVI-compliant XUV300

Data

Data: How government expenditure drove India’s GDP growth in the July to September quarter

Sensex, Nifty open lower on U.S.-China trade uncertainties

After Maruti, Tata Motors to hike passenger vehicle prices from January

Telecom companies’ shares rise on proposal to fix floor price for data tariffs

CSB Bank makes strong debut, jump 41%

The company’s market valuation atood at ₹5,157.71 crore during early trade.

Services output expands for first time in 3 months: PMI

India’s services sector activity returned to growth after two months of decline in November, driven by new business orders, faster job creation and

China’s Xiaomi launches online lending service in India

Xiaomi’s Mi Credit connects smartphone users with lending firms, giving them access to quick loans of up to ₹1,00,000 rupees, the company’s India head said

Amazon partners with Verizon on 5G in cloud computing expansion

Amazon.com Inc has said it was extending its cloud to 5G networks in partnership with Verizon Communications Inc, so developers can run latency-sensitive programs on mobile and connected devices

Rupee slips 12 paise to 71.78 against U.S. dollar in early trade

Forex traders say the domestic unit is trading in a narrow range ahead of the RBI monetary policy decision on Thursday.

Google co-founders step aside as Sundar Pichai takes helm of parent Alphabet

Sundar Pichai, who has been leading Google as CEO for more than four years, will stay in his role and also become CEO of Alphabet.

GST revenues not enough for States’ compensation: Centre

Letter to States flags falling collections

Porting request will now be met in days: TRAI

The request for port out from one circle to another will be completed in five working days, TRAI said.

Xiaomi launches lending platform Mi Credit in India

Xiaomi launches lending platform in India Xiaomi on Tuesday formally launched its digital lending platform Mi Credit, in India, which can aid users

Cybersecurity solutions provider Lucideus raises $7 mn

Enterprise cyber security solutions provider Lucideus, on Tuesday, announced raising $7 million in a fresh round of funding. The funding, its

Mercedes Benz unveils GLC 200 SUV at ₹52.75 lakh

German luxury carmaker Mercedes-Benz India on Tuesday launched the latest generation of its ‘GLC’ sport utility vehicle (SUV) in India, starting with

Wipro Consumer buys South Africa’s Canway

Deal size may be about ₹350 crore

Telecom service providers want floor price for mobile data services

A real and sustainable remedy for sector reeling under financial stress, they say

Maruti Suzuki cars to cost more from January

Hike across models, carmaker says

IRDAI nod for Max stake sale in venture with Bupa

Insurance regulator IRDAI has approved the divestment of Max India’s entire 51% stake in Max Bupa Health Insurance Company to Fettle Tone LLP, an

SAT overturns SEBI order on Karvy

The Securities Appellate Tribunal (SAT) has barred depositories from transferring more securities from Karvy Stock Broking’s (KSB) account while

‘₹80,893 cr. loans written off by banks in first half of FY20’

Borrowers continue to be liable for repayment, says Thakur

HDFC Bank’s netbanking down for the second day

Glitch resolution taking more time

In November outreach, public sector banks lend ₹2.39 lakh cr.

Corporates get the lion’s share at ₹97,366 crore, says the government

A tightrope walk for monetary policy panel members

Million-dollar question now is whether the Reserve Bank of India will be open to a further rate cut

Eris acquires Zomelis from Novartis for India market

Company to start selling the product from December 10

Tax department issues 2.10 crore tax refunds till November; ₹1.46-lakh crore refunded

The Centralised Processing Centre (CPC) processed 4.70 crore tax returns between April 2019 and November 28 (almost eight months of current 2019-20 year) as opposed to 3.91 crore returns being processed in the same period a year back

Over 92,000 BSNL, MTNL employees opt for voluntary retirement

While a total of 78,569 BSNL employees have opted for the scheme, the number for MTNL stood at 14,387 employees.

Watch | What does the merger of NSSO and CSO entail?

On May 23, the government announced that the National Sample Survey Office (NSSO) will be merged with the Central Statistics Office to form the

Rupee settles flat at 71.66 against US dollar

The Indian rupee surrendered early gains to settle flat at 71.66 to the US dollar amid emergence of fresh worries over global trade war. Forex market

Gold up ₹80; silver gains ₹101

Gold prices rose by ₹80 to ₹38,789 per 10 gram in the national capital on Tuesday as stronger rupee limited the gains, according to HDFC Securities.

Sensex slips over 126 points; metal stocks drag

NSE Nifty settled at 11,994.20.

Mercedes launches SUV GLC, price starts at ₹52.56 lakh

The latest generation of the GLC is available in both petrol and diesel engine options, and is equipped with MBUX, an intuitive and intelligent multimedia system

Thomas Cook India to acquire rights of Thomas Cook brand for India, Sri Lanka, Mauritius

TCIL was previously contracted to pay an annual brand licence fee of ₹2 crore to Thomas Cook UK until 2024 for usage of the brand.

Maruti Suzuki to increase prices from January to offset rising input costs

The company did not clarify on the quantum of the increase but said it would vary for different models

Govt open to further reforms, says Nirmala Sitharaman

The government has taken various steps, including reduction of corporate tax, she said at India-Sweden Business Summit

Sensex falls 65 points on global trade worries

The fresh trade war tensions along with unabated foreign fund outflows weighed heavily on the market sentiments, traders said.

Rupee rises 8 paise to 71.58 against US dollar in early trade

Forex traders said, the domestic unit is trading in a narrow range ahead of the RBI monetary policy decision on Thursday.

WTO rejects EU bid to stop U.S. tariffs over Airbus

A decision on retaliation rights for the EU in a parallel case on aid for Boeing is due next year.

Ujjivan SFB IPO fully subscribed on Day 1

Ujjivan SFB IPO fully subscribed on Day 1 The initial public offer of Ujjivan Small Finance Bank, which opened for subscription on Monday, was

DHFL admitted for bankruptcy

No party to challenge the application for rejection: NCLT

Telco shares zoom on tariff hike

Bharti Airtel touched a new 52-week high of ₹485.75

HDFC Bank’s net banking services hit by tech glitch

Mobile banking application too down

Tariff hike will not negatively impact affordability: COAI

Move will lead to better services for consumers, it says

Double-digit decline in two-wheeler wholesales

Vehicle makers resort to inventory adjustment in November, ahead of the transition to BS- VI

Exchanges suspend Karvy

Clients will have to shift holdings to a different brokerage

Manufacturing PMI improves

Modest rise of 51.2 in growth of new orders and production in November

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