OYO launches new property ‘Collection O’,to invest Rs 1,400 Cr in India
Delhi-based company also announced the launch of its new brand – Collection O – focussed on millennials and young travellers. In India, the team intends to expand its reach this year to over 260 cities, 8,700 buildings and 173,000+ rooms….
RBI had four objections o the overnight notes ban announced : RTI
The central bank had listed four objections to the overnight notes ban announced by PM Modi before agreeing to it “in larger public interest”, an RTI reply has revealed. Reserve Bank of India (RBI) board had warned about the short-term…
India will be among Coca-Cola’s top five markets this year : CEO
India is on track to become Coca-Cola’s top three market in volumes in the next three years with the local market expected to jump into the league of top five markets by the end of 2019, a top company executive…
PNB sanctions loans worth Rs 689 crore to 1,600 MSMEs
Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.com portal as part of its effort to promote such industries. “In November 2018, Hon’ble Prime Minister announced…
Saudi’s participation in the Indian Strategic Petroleum Reserve programe
Saudi’s participation in the Indian Strategic Petroleum Reserve program was discussed at a meeting between the kingdom’s Energy Minister Khalid Al-Falih and his Indian counterpart Dharmendra Pradhan in New Delhi on Saturday, according to a government statement on Sunday. They…
SBI to will continue to be MCLR based Small deposits, loans
Yesterday State Bank decided to link its short-term loans and large savings deposits rates to the repo rate, chairman Rajnish Kumar Saturday said loans and deposits below Rs 1 lakh will continue to be linked to the present MCLR to…
Singtel to buy about $525 million worth Bharti Airtel stock after Competition with Jio
Singapore Telecommunications Ltd (Singtel) will buy roughly $525 million worth Bharti Airtel stock as part of its Indian telecom partner’s plan to raise $4.6 billion through shares and bonds. Sunil Mittal’s Airtel, fighting a low tariff war unleashed by rival…
SBI Links Interest On Most Savings Account Deposits To RBI Repo Rate
State Bank of India, the country’s largest lender, has become the first domestic bank to link the interest rate it offers on savings account deposits to an external benchmark — the Reserve Bank of India’s repo rate. Bank will effectively…
Rupee 70/dollar mark for first time in two months
Indian rupee strengthened past 70/dollar mark for first time in two months, gaining for third session against US dollar on continued inflows from foreign investors in local equity markets. Easing of geopolitical tensions and gains in other Asian currencies also…
Women’s Day : Air India to operate 12 international, 40 domestic flights with all-women crew
International Women’s Day, national carrier Air India will be flying 12 international flights and over 40 domestic flights with an all-women crew. In a statement, Air India is set to fly 12 all-women crew flights on its medium and long-haul international…
We aim to create Googles and Facebooks from India : Ravi Shankar Prasad
Minister Ravi Shankar Prasad said, new software products policy is aimed at developing Facebooks and Googles from India with government backing through funding, procurement and creating intellectual property rights, information and technology. We intend to have direct employment for 3.5 million…
Sensex-Nifty in green
Sensex is up 45.83 points at 36681.93, while Nifty is up 4.40 points at 11057.40. About 557 shares have advanced, 285 shares declined, and 45 shares are unchanged. It is a firm start for the Indian indices on Thursday with…
Flight Tickets Starting Price Rs. 899, IndiGo Announces ‘Holi’ Sale
In a special “Holi sale”, IndiGo is offering domestic as well as international flight tickets at a starting all-inclusive cost of Rs. 899 & Rs. 3,399 respectively. Festival discount is available on 10 lakh seats across the airline’s vast network….
India’s central bank has fined at least 19 lenders, including ICICI Bank, SBI
India’s central bank has fined at least 19 lenders, including top banks such as ICICI Bank and State Bank of India, Banks were fined due to failing to comply with its guidelines on the use of global payments network SWIFT….
Sensex rises 50 points, Nifty nears 10,900
In the Pre-open session, Sensex gains 100 points, Nifty50 nears 10,900, rupee trades at 70.96 against dollar. Nifty50 snapped a three-day losing streak on Friday to close almost at its 200-day moving average. Among sectoral indices, Nifty IT index is trading over 0.8…
After RBI lifts restrictions, Allahabad Bank, Corporation Bank, Dhanlaxmi Bank shares up 4-10%
After RBI lifted restrictions imposed on the banks under RBI PCA framework, shares of Allahabad Bank, Corporation Bank and Dhanlaxmi Bank rose 4-10 percent in the early trade on Wednesday. Reserve Bank of India (RBI) lifted the restrictions imposed on…
Mukesh Ambani 10th richest person in the world
Mukesh Ambani is now among the Top 10 richest persons in the world with a net worth of $54 billion. Mukesh Ambani owns almost 52% in Reliance Industries. The Hurun Global Rich List 2019 is topped by Amazon chief executive Jeff…
Sensex falls 350 pts, Nifty down 100 pts
Indo-Pak border has pulled the Nifty below 10,800 in the opening trade, while Sensex is down over 200 points. Sensex is down 286.86 points or 0.79% at 35926.52, and the Nifty down 80.20 points or 0.74% at 10799.90. About 475 shares…
Swiggy to buy Uber eats
Uber Eats, the food delivery arm of ride-hailing app Uber Technologies Inc, is close to a deal to sell its Indian business to Bengaluru-based Swiggy. Less than two years after Uber Technologies Inc. entered India’s competitive food-delivery business, it’s in…
Petrol, Diesel Prices Hiked
Petrol and diesel prices were hiked marginally on Monday, making a fifth day of upwards revision in the rates. While the petrol prices were increased in the range of 14-16 paise per litre in Delhi, Mumbai, Kolkata and Chennai, the…
GST Council expected to announce Rate Cut for Real Estate
GST Council meeting will be held today in which it is expected to announce a cut in the Goods and Services Tax (GST) for real estate as well as address the issue of tax rate on lottery. Meanwhile, the meeting is…
Banks to take time to pass benefits of RBI repo rate cut to borrowers
Heads of public and private sector banks told Reserve Bank of India (RBI) governor Shaktikanta Das that it will be difficult to pass on the benefits of the repo rate cut to borrowers immediately, it will take time. “We gave…
Govt announces Rs 48,239-cr recapitalisation for PSU banks
Nifty PSU Bank index rose over 1 percent led by gains in Central Bank of India, PNB, Bank of India, Union Bank of India, Syndicate Bank, Vijaya Bank as well as SBI after the government announced final recapitalisation tranche amount…
After ban in other countries, Positive response from the Indian government for Huawei
After the US, Australia and New Zealand governments ditched Huawei (along with ZTE) from installing its 5G gears ,Huawei is battling to reverse the ban on its equipment in various countries. Countries fearing possible spying by the Chinese government, there…
SBI writes off Rs 10,000 cr Bad loans
These banks had written off loans worth only `33,259 crore in Q2FY19, up 24% y-o-y, indicating a gathering of pace in the write-off exercise. Loans written off by a clutch of 19 large and mid-sized public-sector banks (PSBs) in the…
Nifty above 10,650, Sensex up 100 points
Sensex is up 163.47 points or 0.46% at 35661.91, and the Nifty up 41.20 points or 0.39% at 10682.20. About 1201 shares have advanced, 560 shares declined, and 79 shares are unchanged. Gainers include Jet Airways, Ambuja Cements, Dr Reddy’s…
India’s Disinvestment budget Rs 80k crore, in proceeding it already touched Rs 54k crore
Government budgeted to Rs 80,000 crore disinvestment this year where the proceeds have touched Rs 53,558 crore so far in the current fiscal. As a part of disinvestment, government has sold as much as 3 per cent stake in Axis Bank…
Loss making Jet Airways likely to get over Rs 3,000 crore funds
Loss-making Jet Airways is likely to receive fund infusion worth over Rs 3,000 crore post debt-rejig and investments by Etihad Airways as well as National Investment and Infrastructure Fund (NIIF). On February 14, Jet Airways’ board approved a Bank-Led Provisional…
HCL among Top 10 Tech Firms to receive H1-B certifications in US
US move to limit H1-B visas has left major tech companies perturbed, seriously affect their ability to get and retain talented staff, Indian tech firm HCL has managed to secure 5,085 foreign labour certifications for the H-1B work visas, making…
Airports Authority received 32 technical bids for privatisation of six airports
Recently India invited bid for carrying out operations, management and development of the six airports, where total of 32 technical bids have been received from 10 companies. As part of an open international competitive bidding process, the Airports Authority of India…