Business

The reverse repo rate was also raised by 25 basis points, to 6.25 per cent.

The Reserve Bank of India on Wednesday raised interest rates for the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth. Here are some of the comments made by RBI Governor Urjit Patel and Deputy Governor

Details
Category: Business

Write comment (92 Comments)

The voting results are surprising, Indian proxy advisory firm IiAS Founder Amit Tandon said.

MUMBAI: Deepak Parekh was re-appointed as a non-executive director on the board of the country's largest mortgage lender HDFC but nearly 23 per cent of the shareholders voted against his continuation. Results of the voting at the company's annual general

Details
Category: Business

Write comment (94 Comments)

In recurring deposit or RD, you get a pre-assured sum, without any investment risk.

A recurring deposit or RD is an investment plan meant for long-term wealth creation in which investment is made in small instalments at fixed intervals systematically. Today, an investor can choose from a variety of terms - or maturity period - up to 10 years to set

Details
Category: Business

Write comment (91 Comments)

In 2017, Apple sold nearly 3.2 million iPhones in India.

New Delhi: Aware of Apple's poor run in the Indian premium smartphone market this year, its CEO Tim Cook on Wednesday avoided mentioning India and the company's "bullish approach" towards the country -- probably for the first time -- at the company's Q3 earnings call. The only mention India

Details
Category: Business

Write comment (100 Comments)

Apple currently has a market cap of $935 billion.

SAN FRANCISCO: Despite slow iPhone sales, Apple is racing ahead to become the world's first trillion-dollar company as it posted revenue of $53.3 billion in its fiscal third quarter -- an increase of 17 per cent from the year-ago quarter. International sales accounted for 60 per cent of the

Details
Category: Business

Write comment (90 Comments)

Atal Pension Yojana (APY): The pension scheme offers a minimum fixed income of Rs 1,000 per month

Atal Pension Yojana (APY) is a pension scheme focused on the unorganised sector. Atal Pension Scheme or APY is administered by pension fund regulator PFRDA. Individuals between 18 and 40 years of age can invest in the Atal pension scheme to earn a

Details
Category: Business

Write comment (97 Comments)

Shares of Housing Development Finance Corp were the biggest drag on the NSE index.

The domestic stock market indices closed Wednesday's session on a negative note after Reserve Bank of India (RBI) raised interest rates for the second straight meeting today. The S-P BSE Sensex slipped 84.96 points, or 0.23 per cent, to close at 37,521.62. The

Details
Category: Business

Write comment (99 Comments)

On Tuesday, the rupee gained 13 paise to close at 68.54 against the US dollar.

The Indian rupee slipped by 5 paise to trade at 68.59 against the US dollar in early trade on Wednesday ahead of the Reserve Bank of India (RBI)'s monetary policy outcome, scheduled later in the day, reported news agency Press

Details
Category: Business

Write comment (93 Comments)

Atal Pension Yojana (APY): The pension scheme offers a minimum fixed income of Rs 1,000 per month

Atal Pension Yojana (APY) is a pension scheme focused on the unorganised sector. Atal Pension Scheme or APY is administered by pension fund regulator PFRDA. Individuals between 18 and 40 years of age can invest in the Atal pension scheme to earn a

Details
Category: Business

Write comment (96 Comments)

Five of the six members on the rate panel voted for a rate increase.

Bengaluru: The Reserve Bank of India on Wednesday raised interest rates for the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth. The RBI's monetary policy committee raised the repo rate by 25 basis points to 6.50

Details
Category: Business

Write comment (96 Comments)

July marked the ninth consecutive month of growth despite a US-driven international trade war.

BENGALURU: Growth in the manufacturing industry slowed last month, largely pressured by a modest weakening in demand and output, though overall conditions remained solid, a private survey showed on Wednesday. The Nikkei Manufacturing Purchasing Managers'

Details
Category: Business

Write comment (91 Comments)

On the international front, AirAsia is offering up to 40 per cent off on flight tickets.

Air carriers have come up discount offers on domestic and international flight tickets and are also offering new routes to increase their customer base. Jet Airways is offering a discount on domestic and international flight tickets under its scheme called

Details
Category: Business

Write comment (93 Comments)

Indian Railways cancel, terminate or reschedule trains on a daily basis owing to a host of factors. Central Railway, one of the divisions of railways, informed about the list of rescheduled trains on microblogging website Twitter. Lately, the services of the railways have been hit by heavy monsoon rains. In cases of a cancellation of a train, IRCTC

Details
Category: Business

Write comment (100 Comments)

Sensex heavyweights Reliance Industries and Tata Consultancy Services contributed to the gains.

The domestic stock markets extended their record-setting spree to Wednesday's session as both benchmarks opened on fresh highs ahead of the Reserve Bank of India's third-bi-monthly monetary policy for fiscal 2019.

Details
Category: Business

Write comment (99 Comments)

Infrastructure output comprises eight sectors such as coal, crude oil and electricity.

New Delhi: Annual infrastructure output grew 6.7 per cent in June from a year ago, government data showed on Tuesday, its fastest pace in seven months. The growth in output compares with an upwardly revised 4.3 per cent year-on-year growth in May. During

Details
Category: Business

Write comment (99 Comments)

The reverse repo rate was also raised by 25 basis points, to 6.25 per cent.

The Reserve Bank of India on Wednesday raised interest rates for the second straight meeting, but retained its "neutral" stance as it aimed to contain inflation while not choking growth. The RBI's Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to

Details
Category: Business

Write comment (90 Comments)

Brent fell more than 6 per cent in July, while US crude futures slumped about 7 per cent.

Oil Marketing Companies (OMCs) kept the prices of petrol and diesel unchanged on Wednesday across four metros of the country. According to the rate chart of IOC (Indian Oil Corporation), petrol is being sold today at Rs.76.31 per litre in Delhi and Rs. 83.76

Details
Category: Business

Write comment (100 Comments)

Tata Motors' total expenses rose about 17 per cent to Rs 69,890 crore in April-June

Tata Motors reported on Tuesday a loss for the three months through June, hurt by higher raw material costs.

The automaker said it made a net loss of Rs 1,902 crore ($277 million), compared with a profit of Rs 3,182 crore in the same quarter a year ago.

Changes to

Details
Category: Business

Write comment (97 Comments)

This the 1st time since October 2013 that repo rate has been hiked at 2 consecutive RBI policy meetings.

The Reserve Bank of India (RBI) on Wednesday announced a second straight 25 basis points hike in repo rate to 6.5 per cent. This the first time since October 2013 that the central bank has hiked borrowing costs at two consecutive policy

Details
Category: Business

Write comment (97 Comments)

Fixed deposits' investment return does not get affected by stock market volatility.

State Bank of India (SBI), the largest lender of the country, has recently hiked its fixed deposit or FD interest rates across various maturities. Other banks are also expected to follow suit. Fixed deposits are fixed income instruments, the investment return on

Details
Category: Business

Write comment (92 Comments)

Vedanta Q1: Analysts, on average, had expected a net profit of Rs 2,156 crore.

Vedanta Ltd, the Indian unit of diversified mining group Vedanta Resources Plc, missed analysts estimate for first-quarter profit, as closure of its copper smelter in South India offset higher volumes at its aluminium and oil - gas businesses. Net profit rose 2.1 per

Details
Category: Business

Write comment (100 Comments)

Small finanace banks offer zero balance accounts like larger peers with better interest rates.

If you are looking to open a savings account, this might interest you. Large banks like SBI (State Bank of India) offer modest interest rates on savings accounts, including on zero balance savings accounts. However, small finance banks like ESAF Small

Details
Category: Business

Write comment (100 Comments)

The RBI will announce its third bi-monthly monetary policy statement for 2018-19 today

The Reserve Bank of India (RBI) will release its monetary policy statement today. Analysts will watch the outcome of the three-day meeting closely to find out whether the central bank's Monetary Policy Committee decides to

Details
Category: Business

Write comment (96 Comments)

The government last month shelved a plan to sell a majority stake in the beleaguered Air India.

NEW DELHI: The government on Tuesday sought parliament approval to inject Rs 980 crore ($142.87 million) in ailing national carrier Air India during the current fiscal year, after efforts to find a buyer for its 76 per cent stake in the carrier failed.

Details
Category: Business

Write comment (96 Comments)

Vistara's new offering will be effective from August, 2, 2018.

Full-service carrier Vistara on Tuesday announced the launch of its bundled scheme -- Vistara Freedom Fares -- which will allow customers to choose the fare and services, said the carrier in a tweet posted on it's official handle- @airvistara. Vistara's new offering will be effective

Details
Category: Business

Write comment (98 Comments)

Households in the country are allowed 12 LPG cylinders a year at subsidised rates

LPG prices were increased in Delhi on Tuesday. Indian Oil said in a statement that the increase in non-subsidised price of LPG will be Rs 35.50 per cylinder in August, compared to the current price. Subsidised LPG - or cooking gas - will cost the consumer Rs 1.76 per

Details
Category: Business

Write comment (90 Comments)

Domestic equity markets extended their record-setting spree to yet another day, with the BSE Sensex gaining 112 points to close at a high of 37,606 on Tuesday. That marked a higher closing for the 30-scrip BSE benchmark for the eighth consecutive session. The Nifty also registered a fresh record closing high of 11,356, 36 points higher from the

Details
Category: Business

Write comment (98 Comments)

RBI monetary policy: Repo rate is the rate at which the RBI lends short-term funds to commercial banks

RBI Governor Urjit Patel-led Monetary Policy Committee announced a hike of 25 basis points in repo rate in its monetary policy statement on Wednesday. This is the third bi-monthly statement by the central bank for financial year 2018-19. Repo rate

Details
Category: Business

Write comment (100 Comments)

IRCTC or Indian Railway Catering and Tourism Corporation, the ticketing arm of Indian Railways, allows refund on a booked train ticket under certain conditions. IRCTC allows refund through online and offline modes in case of cancellation of a regular train ticket. In case of reservation under the Tatkal quota, no refund is permitted in case of a

Details
Category: Business

Write comment (96 Comments)

Analysts, on average, were looking for a loss of Rs 1,260 crore.

Bank of India Ltd said on Tuesday quarterly profit rose 8.4 per cent as the state-run bank recomputed tax provisions made a year earlier. Net profit was Rs 95.11 crore ($13.86 million) for the three months ended June, compared with Rs 87.71 crore a year earlier, it said in a

Details
Category: Business

Write comment (99 Comments)