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Nevin John
August 21, 2018
The aggregate value of promoter holdings in 15 top Tata group companies has crossed $100 billion (Rs 7.03 lakh crore), thanks to the recent surge in TCS and Titan stocks.
New Delhi, August 17, 2018
Why Indians should be grateful to Atal Bihari VajpayeeAs the nation mourns the loss of former Prime Minister Atal Bihari Vajpayee, it's also time to remember all that he did for India's economy. He started the 'Sarva Shiksha Abhiyaan' with the aim to provide education for all. He made India a nuclear state. Pokhran 2 was conducted during his tenure. He laid the foundation of the Golden Quadrilateral in 1999 for smoother movements of products and people. He's also considered the architect of the telecommunication sector in the country. He established a separate disinvestment ministry. He passed the Chandrayan-1 project.Health insurance to now cover mental illness says IRDAIIn a pathbreaking move, 3 months after  the Mental Healthcare Act, 2017 came into force, the Indian insurance regulator IRDAI has notified insurers to cover medical treatment for mental illnesses. The notice issued on Aug. 16, said that, \"every insurer shall make provision for medical insurance for treatment of mental illness on the same basis as is available for treatment of physical illness.\" The order is applicable on all insurance companies in India with immediate effect. The Mental Healthcare Act, 2017, which came into effect on May 29, is aimed at protecting the rights of persons with mental illnesses during delivery of mental healthcare and services.UPI gets an upgrade with new featuresNational Payments Corporation of India (NPCI) has launched UPI 2.0 in Mumbai as an upgrade to the first iteration of Unified Payments Interface (UPI) that debuted in April 2016. The new UPI version has features such as UPI Mandate and Invoice in the Inbox. There are also new security enhancements including Signed Intent and QR that are designed to let customers verify merchants before making any payments as reported by NDTV. Further, there is an option to attach UPI to an overdraft (OD) account. This comes in addition to the existing saving and current account support. Banks that are using the upgrade include State Bank of India (SBI), HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, Yes Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, and HSBC.Mercedes-Benz to hike prices by up to 4% next monthGerman luxury carmaker Mercedes-Benz said it will hike prices of its vehicles across models by up to 4 per cent from September to offset adverse impacts of rising input costs and upward forex movement. The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, Mercedes-Benz India said in a statement.Airlines advised to keep air fares in check for Kerala flightsThe Central government has asked domestic airlines to keep a check on air fares for flights operating to and from Kerala.The advisory comes as the state suffers from one of the worst bouts of floods in the recent past.According to the Ministry of Civil Aviation, airfare on 18 domestic routes are being monitored. The monsoon fury has hit different parts of Western Ghats including districts of Kerala and adjoining areas in Karnataka.Plunging rupee to increase India's oil import bill by $26 billionIndia's crude oil import bill is likely to surge by about $26 billion in 2018-19 as rupee falling to a record low has made buying of oil from overseas costlier, government officials said yesterday as reported by Mint. The Indian rupee opened at 70.25 and plunged to a fresh record low of 70.40 a dollar. Moreover, the weak rupee will also lead to a hike in the retail selling price of petrol, diesel and cooking gas (LPG).

August 16, 2018
RBI Governor Urjit Patel today unveiled UPI version 2.0 which will allow customers to use overdraft limit for making payments for merchants.
New Delhi, August 16, 2018
Sameet Chavan, Chief Analyst, Technical and Derivative at Angel Broking, takes viewers through all the market action today. The Sensex fell over 188 points to close at 37,663, tracking weak global cues on concerns over Turkey's financial crisis amid sustained foreign fund outflows. The rupee stoked more worries, slumping to an all-time low of 70.40 per dollar (intra-day). Sentiment took a hit after the country's trade deficit soared to a near five-year high of $18 billion in July. The trade data was released by the Commerce Ministry on Tuesday after market hours.

August 16, 2018
The Sensex fell over 188 points to close at 37,663, tracking weak global cues on concerns over Turkey's financial crisis amid sustained foreign fund outflows. The rupee stoked more worries, slumping to an all-time low of 70.40 per dollar (intra-day).Sentiment took a hit after the country's trade deficit soared to a near five-year high of $18 billion in July. The trade data was released by the Commerce Ministry on Tuesday after market hours.After opening lower at 37,796, the 30-share Sensex slipped further to touch a low of 37,634, but a rally in Infosys, Sun Pharma and Tata Motors helped it to recover. The NSE Nifty traded in the red for the major part of the session and fell below the 11,400-mark to hit a low of 11,366.25. It later recovered a bit to finish at 11,385, showing a loss of 50 points, or 0.44 per cent.Top Sensex gainers were Sun Pharma (2.98%), Bharti Airtel (1.51%) and Infosys (1.17%).Top Sensex losers were  Kotak Mahindra Bank (3.62%), Vedanta (3.05%) and HDFC (2.61%).Weak leads from other Asian bourses following Turkey's currency crisis and fears of an economic slowdown in China affected sentiment on Dalal Street, brokers said.

August 15, 2018
ICICI Bank staff will get an additional 1 per cent interest on domestic FDs below Rs 1 crore, the bank said in a statement. The new FD rates are valid for both general and senior citizens.

August 13, 2018
Meanwhile, the rupee hit an all-time low of 69.91 intra day tracking weakness in global currencies. Infosys (1.75%), Sun Pharma (1.65%) and Wipro (1.31%) were the top Sensex gainers. IT sector stocks were the top gainers today due to a fall in rupee.

August 13, 2018
Aditya Puri said that Sukthankar left because of some personal reasons and his exit had nothing to do with HDFC Bank's succession plan. He, however, said that Sukthankar was among the contenders for CEO position.

August 12, 2018
Senior officials at SBI mentioned that the embattled airline is part of its overall watchlist for stressed accounts and special mention category loans as on June 30, 2018. Jet. however, had a different story to tell.

Anand Adhikari
August 11, 2018
Paresh Sukthankar, the man who was seen as a natural successor to Aditya Puri, MD & CEO, abruptly resigned on Friday from the largest private bank in the country.

New Delhi, August 10, 2018
Paresh has reportedly cited personal reasons for resigning from the post. HDFC Chairman Deepak Parekh says he has done an excellent job during his association with the bank.

August 9, 2018
Sebi currently has powers to seek call data records (list of people in touch with the caller) of those being probed, but can't intercept calls.

New Delhi, August 6, 2018
As many as 21 public sector banks (PSBs) and three major private sector lenders have collected Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18.

August 6, 2018
The HDFC AMC stock later closed 65.01% or 715.15 points higher at 1815 level on BSE. It rose 4.38% higher than the listing price of 1739 level. The market capitalisation of the AMC on BSE stood at Rs 38,479.15 crore on the first day of its listing on the bourses.

August 5, 2018
The top five banks in terms of their earnings from non-maintenance of minimum balance fee are SBI, HDFC Bank, Axis Bank, ICICI Bank and PNB.

Karan Dhar
August 3, 2018
Apple sits on a cash pile of roughly $285 billion which is more than enough to buy India's two most valued companies - Mukesh Ambani-led Reliance Industries and Tata's crown jewel TCS.

New Delhi, August 3, 2018
On Wednesday, Kotak Mahindra Bank also raised its one-month and three-month MCLR, or marginal cost of lending rate, by 5 basis points to 8.20 per cent and 8.55 per cent, respectively.

August 2, 2018
The Sensex plunged 356 points to close at a one-week low of 37,165.16, while the NSE Nifty dropped 101.50 points to finish below the 10,300-mark.
New Delhi, August 1, 2018
No WhatsApp Payments if no local offices, says Indian govtIt's one thing after another with WhatsApp Payments. The instant messaging platform has been asked by the Indian governemnt to set up offices in India for its payments arm to begin operations here. This new prerequisite by the Indian governmennt is likely to defer the rollout of WhatsApp Payments, which has been delayed for several times already. The privacy policy of WhatsApp Payments was also edited recently to removed the statement which said that the service was in beta. It also added HDFC Bank and Axis Bank to its list of banksApple Inc beats Wall Street estimates with strong sales figuresApple Inc's financial resuls for the third quarter managed to beat Wall Street estimates by a long margin on account 0f sales figures led by pricey iPhone X. Subscriptions from App Store, Apple Music and iCloud further bolstered business for the Cupertino tech giant. Apple also regained its footing in China where it grew by 19 per cent.Samsung Galaxy On8 launched in IndiaSamsung Galaxy On8 was launched with Infinity Display and dual cameras in India at a price of Rs 16,990. The device will be available via Flipkart and Samsung's online store starting August 6. The Samsung Galaxy On8 comes with Snapdragon 450 coupled with 4GB RAM and 64GB of internal storage. It also comes with a feature called Samsung Mall, which uses artificial intelligence to allow users to buy a product from e-commerce platforms by simply clicking a picture of it with the phone's camera. Talking of cameras, the Samsung Galaxy On8 comes with a dual camera setup at the back with 16MP and 5MP sensors, and a 16MP selfie shooter.
August 1, 2018
No WhatsApp Payments if no local offices, says Indian govt; Apple Inc beats Wall Street estimates with strong sales figures; Samsung Galaxy On8 launched in India. Watch this episode of Daily Tech Wrap with Vivek Punj.

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