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BusinessToday.In
August 17, 2018
The stock has been gaining for the last two days and has risen 7.98% during the period. It is down 48.20% during the last one year and 63.22% since the beginning of this year.


BusinessToday.in
New Delhi, August 15, 2018
Modi says India is now the land of reform, perform and transformPrime minister Narendra Modi delivered his fifth Independence Day Speech as PM. Running parallel to the  Ayushman Bharat-National Health Protection Scheme would be the Jan Aarogya Abhiyan which would kick off on September 25, he announced. The healthcare schemes will ensure access to good quality healthcare for the poor and marginalised. Modi also said India used to be a 'sleeping elephant', but has started walking and running now'. He announced a manned mission to space by 2022. He also thanked the business community for the success of GST.Rupee has fallen due to external factors, nothing to worry says govtThe rupee fell to a record low of 70 against the dollar on Tuesday amid fears that the financial troubles faced by Turkey may spread to other emerging economies. The rupee ended trading on Tuesday at 69.89 per dollar.Attributing the fall in rupee value against the US dollar to 'external factors', economic affairs secretary Subhash Chandra Garg said that there was nothing to worry about as long as the depreciation was in line with other currencies.Rupee has given 'vote of no confidence' to Modi by crashing to historic low, says RahulWith rupee touching a fresh all-time low of 70.08 against dollar , Congress President Rahul Gandhi turned the heat on the Narendra Modi government over its failure to control the declining rupee. The Indian currency has seen nearly 10 per cent fall this year alone. Taking a jibe at Prime Minister's remarks of \"70-year misrule\" of various parties, including the Congress, the party said \"Modiji finally managed to do something that we couldn't do in 70 years\".RBI rejects Kotak Bank's promoter stake dilution plan, says it does not meet normsDays after private lender Kotak Mahindra Bank said it had used the preference share allotment route to reduce promoter Uday Kotak's shareholding in the bank, the RBI rejected it saying \"it does not meet their promoter holding dilution requirement\". In a regulatory filing on Tuesday, Kotak Mahindra Bank said it still believes that the bank's stake dilution plan meets the requirement, and assured to continue engaging with the central bank over the issue.India's richest women: Smitha Crishna, Roshni Nadar top listA survey, prepared by Kotak Wealth-Hurun, features Smitha Crishna, the third generation heir of the Godrej empire, as the wealthiest Indian woman with net worth of Rs 37,570 crore. The total wealth of each woman featured in the top 100 women exceeds Rs 1,000 crore, while their average income is around Rs 4,000 crore. Kiran Mazumdar-Shaw is the only richest self-made women -- with the total wealth of Rs 24,790 crore - who could make it to the top 100. Following Smitha is HCL CEO and Executive Director Roshni Nadar, whose net worth is around Rs 30,200 crore. On the third spot is Indu Jain of Bennett Coleman and Co Group, whose total wealth is estimated to be around Rs 26,240 crore.Twitter launches Twitter LiteMicro-blogging platform Twitter has launched Twitter Lite Android app in 21 more countries, including India, that will minimize data usage. It will load quickly on slower networks and take up less space on a mobile device. It's on the same lines as Facebook Lite and Youtube Go. The app, built for 2G and 3G networks which are still in use in several parts of India, helps a user save on data while using it.Reliance Jio's broadband service GigaFiber registrations to start todayRegistrations for Jio GigaFiber high-speed broadband are now officially open, allowing you to show your interest in the service. Jio GigaFiber was announced last month at the company's 41st Annual General Meeting, and will provide speeds to 1Gbps, according to the company. The company will give priority to areas with the highest interest for the rollout. The Jio broadband service was being tested out for the past two years.Cash-strapped Fortis Healthcare sees signs of improvementCash-strapped Indian hospital operator Fortis Healthcare Ltd said it was starting to see some signs of recovery, as it secured shareholder approval for its takeover by Malaysia's IHH Healthcare Bhd. Fortis which operates 30 private hospitals in India has been struggling with a cash crunch, rising debt and other problems. IHH will invest 40 billion rupees at 170 rupees per share in Fortis.


PTI
August 14, 2018
Jet Airways chairman Naresh Goyal met aviation secretary RN Choubey on Monday and apprised him of the ongoing crisis.


PTI
August 12, 2018
The Directorate General of Civil Aviation (DGCA) has already evaluated the financial health of the national carrier Air India recently, besides conducting a special audit of Air Deccan, the source close to the development said.


Manu Kaushik
New Delhi, August 3, 2018
Jet's expenses has registered a steep rise, primarily led by aviation turbine fuel cost, foreign exchange losses, loans advances to subsidiary JetLite, and aircraft maintenance charges.


PTI
June 24, 2018
Top officials of IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, will make presentations before the panel and respond to queries on June 26.


Mudit Kapoor
New Delhi, June 20, 2018
Analysis of some of the financial indicators across the time horizon of 3 years (FY16 to FY18) to study the impact of demonitisation.


BusinessToday.in
New Delhi, June 13, 2018
5G subscription by 2022, 78% to use 4G by 2023 in India: Ericsson  Indian mobile users can expect to access 5G services by 2022 while 4G connections are estimated to soar around four-folds in the country , according to a report released by Ericsson Mobility today. \"We expect 5G smartphone subscriptions to become available by 2022. And by the end of 2023, there will be some 10 million subscriptions on 5G in India,\" Ericsson Mobility Report (EMR) Editor Patrik Cerwall told PTI while sharing details. According to the report, the first commercial rollout of 5G is expected by the end of this year globally.Retail inflation hits 4-mth high of 4.87% in May on costlier veggies, fuelRetail inflation jumped to 4-month high of 4.87 per cent in May on costlier food items such as fruits, vegetables and cereals coupled with high fuel rates. Based on Consumer Price Index (CPI), the retail inflation was at 4.58 per cent in the preceding month, April. In May 2017, however, it was at a low of 2.18 per cent. The previous high in retail inflation was in January this year at 5.7 per cent.RBI Governor seeks more powers to effectively regulate PSBsRBI Governor Urjit Patel has made a strong case for more powers to effectively regulate public sector banks (PSBs) as lawmakers asked him tough questions over increasing bad loans and frauds. Patel also informed the Standing Committee on Finance that the RBI is in communication with the government for discontinuing the practice of appointing the central bank's nominees on boards of PSBs to avoid to any conflict of interest between the regulator and regulated entities. Patel was asked about bad loans, bank frauds, cash crunch and other issues.In-flight connectivity in a year, says SinhaIn-flight connectivity is expected to be available within a year, Telecom Minister Manoj Sinha said today even as a joint meeting of DoT and civil aviation officials to discuss \"operational details\" is to be held in about 10 days, as reported by PTI. Telecom firms, airlines and in-flight connectivity providers are expected to attend the meeting, the date for which is yet to be finalised. In-flight connectivity aims to enable calls and internet services during flights in the Indian airspace.Modi government's latest announcement to benefit 23 lakh retired employeesIn a move that could bring cheers to over 23 lakh retired employees of universities and colleges, the Narendra Modi government on Tuesday said it has revised the pension of retired faculty and other non-teaching staff in central universities and colleges under the 7th Central Pay Commission. Union HRD Minister Prakash Javadekar said as per the recommendations of the 7th Central Pay Commission, the centre government has increased the pension of retired faculty and other non-teaching staff in central universities and colleges, which would benefit around 25,000 present pensioners in these institutions. Apart from providing benefits to these 25,000 pensioners, the decision will also affect over 23 lakh employees retired from state universities and affiliated colleges.


BusinessToday.In
June 12, 2018
Last year in May, Paytm launched its own payments bank with the aim of doubling its customer base to 50 crore by 2020. Paytm saw a phenomenal rise after Prime Minister Narendra Modi's shock ban of Rs 500 and Rs 1000 notes in November last year resulted in cash crunch and boosted use of its electronic wallet.


Manu Kaushik
New Delhi, June 11, 2018
It's hard to find companies in India who can match the privileges of public sector units (PSUs). Air India's recent tender to raise Rs 1,000 crore short-term loans is a shining example of what an organisation can do if it's backed by the government.


BusinessToday.In
New Delhi, June 11, 2018
In terms of 'currency in circulation', the RBI puts the latest figure at over Rs 19.3 lakh crore as on June 1, 2018, a jump of about 30 per cent from the year-ago level.


PTI
June 10, 2018



Maulik Sanghavi
New Delhi, June 8, 2018
A cash crunch need not mean that insolvency is around the corner. CFOs and CEOs must simply apply quick litmus tests and avoid knee jerk reactions to keep a company in the pink of financial health


Adhil Shetty
May 15, 2018
What is generally ignored is the fact that credit cards aren't free. They do have charges - some well-known, others not no well-known. The little-known charges need to be understood to avoid penalties, heavy interest rates, and excess payment charges later on.


Niti Kiran
New Delhi, May 14, 2018
Debit card transactions at ATMs amounting to Rs 26,63,501.81 million was the highest-ever in the month of March 2018


Money Today Team
New Delhi, May 3, 2018
Although the recent currency shortage and ATMs running dry, especially in Andhra Pradesh, Telangana, Karnataka, Bihar and Madhya Pradesh, have created a furore, the Reserve Bank of India (RBI) has assured there is no crisis.


Joe C Mathew
New Delhi, May 2, 2018
India exported $302.8 billion worth of goods during FY2017/2018, a 9.78 per cent rise over the previous year.


Ajita Shashidhar
New Delhi, April 26, 2018
There is an imminent cash crunch in the economy now, small town India never really recovered from demonetisation, and it had to deal with GST, Manpasand Beverages Chairman Dhirendra Singh says in conversation with Business Today.


BusinessToday.In
New Delhi, April 24, 2018
The UBI head office will take action against the agency that fed the cash in the ATM.


BusinessToday.in
New Delhi, April 20, 2018
TCS Q4 net profit rises 4.4% at Rs 6,904 crore; board recommends 1:1 bonusTata Consultancy Services (TCS), country's largest IT services firm, on Thursday posted a 4.48 per cent year-on-year (YoY) rise in consolidated net profit at Rs 6,904 crore for the March quarter. TCS board recommended a 1:1 bonus share issue. India's biggest software services exporter reported a revenue growth of 8.2 per cent (YoY). Its FY18 Q4 revenue was at Rs 32,075 crore. The Tata Group company accounts for a lion's share of the group's overall profit.Fortis Healthcare forms expert advisory committee to oversee evaluation of bidsAfter receiving bids from four possible suitors, the board of Fortis Healthcare Ltd on Thursday approved the constitution of an expert advisory committee to oversee the evaluation of all binding proposals in connection with the infusion of funds in the company. The committee, chaired by Deepak Kapoor, Former Chairman and CEO of Price Waterhouse Coopers India, will provide a report of its recommendation to the board by April 26. The board also approved the appointment of Rohit Bhasin as an Additional Director (Independent) of the Company with immediate effect for a period of five years.Cash crunch a complete mismanagement of govt and RBI: Ex-FMThe cash crunch at ATMs in some parts of the country is a case of \"complete mismanagement\" on the part of both the RBI and the government, former finance minister Yashwant Sinha has said. He said the magnitude of the crisis is huge and the Reserve Bank did not have a back up plan to deal with such a situation. The Reserve Bank has laid down certain rules for managing the distribution of currency but obviously the management practices have not measured up to the situation, the BJP leader said. Blaming both the government and the RBI, he said neither of them warned the public about any such crisis.RBI's monetary panel members favour shift in policy stance in June  Reserve Bank may shift to a hawkish monetary stance in June, as per the indications provided in the minutes of the last meeting of the Monetary Policy Committee (MPC). According to a PTI report, RBI Deputy Governor Viral Acharya favoured withdrawal of monetary accommodation in the next policy review meeting scheduled on June 4-5. The minutes of the April MPC meeting released by the RBI said that Executive Director Michael Debabrata Patra voted for an increase of 25 basis points in April itself, though the majority view of maintaining status quo prevailed.Passengers could be compensated up to Rs 20,000 for flight delays, cancellations: Draft rules  Air travellers could be paid a compensation of up to Rs 20,000 for flight delays and cancellations and Rs 5000 for being denied boarding, a draft passenger charter has proposed. The charter, framed by the Ministry of Civil Aviation, is expected to be placed in public domain soon following a final round of meeting with the stakeholders, officials said. The draft proposal includes full refund if the delay is over six hour. The compensation amount could be as high as Rs 20,000 if passengers miss connecting flights due to airline cancellations during the initial leg of the journey, the charter has proposed.India wastes Rs 1.44 lakh crore due to traffic congestion, says Uber studyRs 1.44 lakh crore. That is the avoidable social cost of traffic congestion in just four major Indian cities, Delhi, Mumbai, Bangalore and Kolkata. Incidentally, that amount is 50 per cent more than what the government allocated for updating India's education infrastructure in Budget 2018. The Uber-commissioned report by the Boston Consulting Group reveals more bad news. On an average, road congestion in peak hours among the Indian cities studied averaged 149 per cent, which is significantly higher than comparable metropolitan cities in South East and East Asia. This means that Indian commuters take 1.5 times longer to travel a given distance in peak hours compared to travel time during non-peak hours. The silver lining is that \"over 79 per cent of the above respondents also indicated that they would consider aborting their purchase plans should the availability and timeliness of ridesharing equal or exceed private car ownership\".


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