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BusinessToday.In
New Delhi, August 20, 2018
Kerala CM seeks Rs 2,000 cr relief package from PM as state suffers Rs 19,512 cr lossAbout 357 people have lost their lives in what could be called the worst-ever flood in a century in Kerala. So far, the National Disaster Response Force has evacuated over 10,000 people from the worst-affected areas of southern state. In an unprecedented relief effort under the instructions of Prime Minister Narendra Modi, 67 helicopters, 24 aircraft, 548 motorboats and thousands of rescue personnel from Indian Navy, Army, Air Force, National Disaster Response Force, Coast Guard, other Central Armed Police Forces have been pressed into service to rescue and evacuate people from submerged areas to relief camps and for distribution of relief materials.Walmart completes deal to acquire 77% stake in FlipkartUS-based retail giant Walmart Inc on Saturday said it has completed its $16 billion deal with Flipkart and now holds 77 per cent stake in the Indian e-commerce major. The Bentonville giant's investment includes $2 billion of new equity funding to help accelerate the growth of the Flipkart business.The mega deal, announced in May this year, is the largest so far in the Indian retail space. This is also Walmart's biggest acquisition and will help it compete more aggressively with its US-based rival Amazon.Ayushman Bharat scheme: Delhi govt yet to take a call on signing MoU with CentreThe implementation of the government's ambitious Ayushman Bharat-National Health Protection Scheme in the national capital hangs in balance as the Delhi government is yet to take a call on signing an MoU with the Centre over it.The Delhi government has not yet given its approval for being part of the health insurance scheme which aims to provide a coverage of Rs 5 lakh per family annually and benefit more than 10 crore poor families across India.India's CAD to widen to 2.5 per cent of GDP in FY19: Moody'sIndia's current account deficit (CAD) will widen to 2.5 per cent of the GDP in the current fiscal due to higher oil prices that has been accentuated by rupee depreciation, Moody's and other experts have said. Rupee last week dropped to a record low of 70.32 to a US dollar as political turmoil in Turkey and concerns about China's economic health continued to support safe-haven assets and weighed on emerging market currencies.Rajiv Biswas, APAC Chief Economist, IHS Markit, said a further widening of the CAD is expected in 2018-19 to around 2.4 per cent of GDP, due to a further increase in the oil import bill and the impact of rupee depreciation on import costs.No ATM to be replenished with cash after 9 pm from next yearNo ATM will be replenished with cash after 9 pm in cities and 6 pm in rural areas from next year even as two armed guards will accompany crisp notes in transit as per a new directive issued by the Home Ministry. The deadline for putting money in the ATMs located in Naxal-hit areas is 4 pm while private cash handling agencies must collect money from the banks in the first half of the day and transport notes only in armoured vehicles.In a notification, the Home Ministry said the new Standard Operating Procedures (SoPs) would come into effect from February 8, 2019 in view of the spurt in incidents of attacks on cash vans, cash vaults, ATM frauds and other internal frauds leading to increased sense of insecurity.Infosys CFO M D Ranganath steps down after 17 yearsInfosys Chief Financial Officer MD Ranganath, who held several leadership positions during a tenure of over 17 years with the company, has resigned. Ranganath will continue in his current position as Chief Financial Officer till November 16, 2018. The Board will immediately commence the search for the next CFO. Explaining the reason behind the move, Ranganath said that he decided to quit to pursue professional opportunities in new areas.


BusinessToday.In
August 20, 2018
The stock fell 58 points or over 4 percent to touch an intra day low of 1,373.55 level on the BSE. The stock has gained 51.87% during the last one year and 34.89% since the beginning of this year.  At 10:53 am, the stock was trading 2.54% or 36 points lower at 1395 level on BSE. The stock was the top loser on Sensex, Nifty.


Mail Today Bureau
August 20, 2018
Leading low-cost carrier IndiGo has been forced to ground a new Airbus A320 neo aircraft, inducted into its fleet just a fortnight ago, due to a snag in the Pratt and Whitney engine.


BusinessToday.In
August 19, 2018
Prime Minister Narendra Modi on Friday visited flood-ravaged Kerala and announced an immediate financial assistance of Rs 500 crore. He also announced an ex-gratia of Rs 2 lakh per person to the next of kin of the deceased and Rs 50,000 to those seriously injured.


Niti Kiran
August 17, 2018
Let's look at how the markets performed under Atal Bihari Vajpayee and other former Prime Ministers of India.


BusinessToday.In
August 17, 2018
Top Sensex gainers were YES Bank (3.76%), Vedanta Ltd (3.09%), and SBI (3.02%). Of 30 Sensex stocks, 20 ended in the green.  Top Sensex losers were Hero MotoCorp (1.14%), ONGC (0.61%), and Maruti (0.58%).


BusinessToday.in
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).


BusinessToday.In
New Delhi, August 17, 2018
Gross NPAs have exceeded Rs 8.5 lakh crore, up 19% year-on-year, while total provision for NPAs jumped 28% (y-o-y) to Rs 51,500 crore.


BusinessToday.In
August 17, 2018
Former PM Atal Bihari Vajpayee's last rites were performed at Smriti Sthal with full state honour today.


BusinessToday.In
August 16, 2018
As the nation mourns Vajpayee's loss, let's looks at the reasons why the country should be thankful to the poet prime minister.


BusinessToday.In
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.


BusinessToday.In
August 16, 2018
The 93-year old political icon was suffering from kidney tract infection, urinary tract infection and even respiratory problems.


BusinessToday.In
August 16, 2018
Atal Bihari Vajpayee passed away today at the age of 93. Leaders cutting across the political spectrum mourned the loss of India's former prime minister.


BusinessToday.In
August 15, 2018
The Prime Minister mentioned some of the key policy decisions such as GST and Benami Law that were discussed for years but did not see the light of the day till his government came to power.  


BusinessToday.In
August 14, 2018
The Sensex recovered by 207 points to 37,852, taking comfort from positive inflation numbers coupled with emergence of buying by domestic institutional investors.The Nifty too rose 80 points to close at 11,435. Besides strengthening rupee, encouraging earnings by some blue-chip firms including Tata Steel and Sun Pharma also helped in building positive sentiments, brokers said.The Sensex had lost 379.47 points in the previous two sessions.Sun Pharma (6.91%), YES Bank (2.87%) and ICICI Bank (2.17%) were the top Sensex gainers. The Sun Pharma stock rose after the firm reported a consolidated net profit of Rs 982.51 crore for the quarter ended June 30, 2018 compared with net loss of Rs 424.92 crore for the corresponding period of 2017-18.Tata Steel stock also gained in the Sensex list, surging 1.70 per cent after the company said its consolidated net profit jumped more than two-folds to Rs 1,933 crore in the April-June quarter of 2018-19 compared to Rs 921 crore during the same period a year ago.Meanwhile, the rupee closed at 69.90 level against the dollar compared with Monday's close of 69.93.Intra day, the currency fell past the key 70 level to hit a fresh all time low of 70.08. Market breadth was marginally negative with 1302 stocks closing higher compared with 1390 ending in the red on BSE.


PTI
August 14, 2018
Air India's 19 aircraft which were on ground included wide-body Boeing 777s, which are used for ultra-long operations, as well as B787 Dreamliners, which caters to airline's European network


BusinessToday.In
August 14, 2018
The Sun Pharma stock closed 6.91% or 38.90 points higher to 601 level on the BSE today. The stock which closed at 562 level yesterday rose 46 points or 8.05% to an intra day high of 608 level on the BSE.


BusinessToday.In
August 14, 2018
The Life Insurance Corporation is in the process of buying 51 per cent stake in the debt-stressed IDBI Bank. The Union Cabinet gave its approval to the proposal on August 1.


BusinessToday.In
August 14, 2018
Earlier in May, Jeff Bezos-led retail giant had pumped in fresh capital of Rs 2,600 crore into its India business unit - Amazon Seller Services. Before this, the company had invested Rs 1950 in Amazon Seller Services in January this year.


BusinessToday.In
August 14, 2018
ATMs around the world are under a major risk of fraudulent cash withdrawals under a coordinated attack. This attack is called \"ATM cashout\" and has been detected by US' premier investigating agency, FBI.


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