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Mail Today Bureau
August 17, 2018
German luxury carmaker Mercedes Benz on Thursday said itwill hike prices of its vehicles across models by up to 4 per cent fromSeptember to offset adverse impacts of rising input costs and adverse forex movement.


BusinessToday.In
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.


BusinessToday.in
New Delhi, August 14, 2018
Retail inflation slows down to 9-month low level in July; Ease of Living Index: Pune ranks first in 'liveability', Delhi languishes at 65; government dismisses Usha Ananthasubramanian from service, gives CBI permission to prosecute; new road to cut travel time between Delhi and Gurugram, likely to open by Diwali. Watch more in this episode of Business Wrap.


BusinessToday.in
New Delhi, August 14, 2018
Retail inflation slows down to 9-month low level in JulyRetail inflation plunged to a 9-month low of 4.17 per cent in July as vegetable prices fell, strengthening views that the RBI will keep interest rates on hold at its review in October after raising them for a second straight meeting on August 1. The RBI has raised the key repo rate by 0.25 per cent each on inflationary concerns. The next bi-monthly policy is to be unveiled on October 5. Ease of Living Index: Pune ranks first in 'liveability', Delhi languishes at 65The Ease of Living Index 2018 released by Union Minister Hardeep Singh Puri on Monday has thrown surprises, with few most prominent cities failing to make a cut in the top 10. Of total 111 cities ranked under the index, Pune has been ranked first while Navi Mumbai has surfaced as the second preferred spot in terms of 'liveability'. However, the national capital Delhi has failed to make it to the top 50, ranking much below cities like Vijayawada and Bhopal at number 65. Chennai was also ranked at number 14, while Kolkata refused to participate in the survey.PNB scam: Govt dismisses Usha Ananthasubramanian from service, gives CBI permission to prosecuteNearly three months after Allahabad Bank divested its MD & CEO Usha Ananthasubramanian from all functional responsibilities, the government today dismissed her from service, according to an official notification. Ananthasubramanian is the former CEO & managing director of scam hit Punjab National Bank. Ananthasubramanian was named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case but had continued to be an employee of the bank. She was to superannuate today but has been dismissed from the service. The government has also given permission to the CBI to prosecute Ananthasubramanian and Sanjiv Sharan, former executive director of the PNBNew road to cut travel time between Delhi and Gurugram, likely to open by DiwaliThe commuters from Delhi to Gurugram will soon have a new road that will bring down congestion and cut short the travel time. The new road will offer a shorter route for commuters from Dwarka, Najafgar and west Delhi to Gurugram.The new route will connect to Najafgarh-Bijwasan road and is part of Gurugram's Masterplan 2031.Infosys to invest Rs 100 cr in software development centre in Kolkata, create 1,000 jobsIndia's second largest software services firm Infosys has said it will set up a new software development centre in Kolkata with an investment of Rs 100 crore.The centre is expected to provide employment to about 1,000 engineers.The first phase of the project will be completed within 15 months from the date of obtaining all statutory clearances.India's forex reserve is in a \"comfortable range\", says a DBS report. India's forex reserve is in a \"comfortable range\" and another 5-8 per cent fall will not jeopardise the situation, says a DBS report. According to the global financial services major, a challenging global environment has compelled RBI to intervene aggressively this year to contain rupee depreciation, resulting in significant drawdown in foreign reserves. Jet Airways to evaluate funding options to meet liquidity needsIndian carrier Jet Airways has said it is considering various options on priority to meet its funding requirements, reaffirming that its revenue-boosting and cost-cutting measures have started to show results. In a report by Reuters, Jet however ruled out a potential stake sale or plans to monetise its investment in its frequent flier programme, calling media reports on the subject \"purely speculative\".No more queues at CNG pumps! IGL to open 50 more stations in Delhi-NCRIn what might come as a big relief to CNG car owners, Indraprastha Gas Limited (IGL) is planning to come up with 50 more CNG pumps across Delhi-NCR. This is likely to be done by February 2019. As mentioned by an official, the new CNG stations are to come up across Delhi, Noida, Greater Noida, Rewari and Ghaziabad.


Mail Today Bureau
August 14, 2018
The rate of price rise in fruits slowed down 6.98 per cent, as against over 10 per cent in the previous month. However, inflation in the fuel segment based on the changes in the CPI increased to 7.96 per cent from 7.14 in the previous month.


Anand Adhikari
New Delhi, August 7, 2018
After a four-year easing cycle, interest rates are now gradually increasing.


Sneha Mehta
New Delhi, August 6, 2018
Before making any investment decision, one should always know the time frame of investing, which means whether the investment is for long term, medium term or for any short term financial goals, and an ideal risk taking ability.


Anand Adhikari
New Delhi, August 6, 2018
India's macroeconomic parameters are sliding at a time when the world is staring at a full-blown trade and currency war.


Niti Kiran
New Delhi, August 3, 2018
The Reserve Bank of India on Wednesday raised the repo rate by 25 basis points to 6.5 per cent, its second such hike in two months. The move by the central banks is aimed at keeping inflation in check.


BusinessToday.In
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.


BusinessToday.In
New Delhi, August 3, 2018
Apple becomes first publicly listed US firm to hit $1 trillion stock market valuationApple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone. The iphone transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. India likely to postpone raising tariffs on U.S. goodsIndia plans to delay the imposition of retaliatory duties on U.S. goods, the trade ministry said on Thursday, to allow time to resolve disputes that worsened after President Donald Trump imposed tariff hikes on steel and aluminium. Trade differences between India and the United States have been rising since Trump took office Infosys CEO Salil Parekh bets on company's robust balance sheet to plan big acquisitionsInfosys' acquisition of US-based digital creative and consumer insights agency WongDoody Holding Company for $75 million could just be the beginning of many more deals in the pipeline - the company reportedly sees acquisitions as a key element in the three-year roadmap laid out by CEO Salil Parekh.ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisationState-run Oil and Natural Gas Corporation, ONGC has posted a 58 per cent increase in net profit during the first quarter of the financial year 2018-19 to Rs 61.44 billion, compared to Rs 38.85 billion on the back of higher net realisation owing to rise in prices. The company's gross revenue for the period under review was seen 43 per cent up at Rs 272.13 billion.Reliance Jio, SBI Announce Digital Partnership For Banking, Payments And Commerce ServicesAfter the Jio Payments Bank became operational (a 70:30 JV between RIL and SBI) Jio and SBI are deepening their partnership for customers. They are trying to provide a seamless experience with exclusive digital Banking, Payments and Commerce journeys to their customers. Jio and SBI are entering into a digital partnership aimed to increase SBI's digital customer base. For the same, the companies have announced SBI YONO. SBI YONO is an omnichannel platform offering digital banking, commerce and financial superstore services to customers. YONO's digital banking features and solutions will be enabled through the MyJio platform HDFC hikes interest rates on home loans by 20 basis pointsHDFC has hiked interest rates on home loans by 20 basis points, a day after RBI raised the benchmark repo rate by 25 bps to 6.5%. As per the new rates, women borrowers can avail a home loan of upto Rs 30 lakh at 8.7% while other customers will be charged a rate of 8.75%. New rates are effective from 1st August. For loans above Rs 30 lakhs women borrowers will be charged at 8.80% while other borrowers will be charged a rate of 8.85%.


BusinessToday.In
August 2, 2018
RBI increases repo rate by 25 basis points to 6.5%, maintains 'neutral' stanceThe RBI's Monetary Policy Committee, during its by-monthly meeting on Wednesday, increased the repo rate by 25 basis points to 6.5 per cent from the previous rate of 6.25 per cent. This is the second hike in the interest rate after four years of continuous halt by the central bank. This time too, the MPC again maintained the neutral stance to achieve the medium-term target for inflation of 4 per cent in a band of +/- 2 per cent.The MPC has noted that uncertainty around domestic inflation needs to be carefully monitored in the coming months. What caused the rate hike? \"The main reason for increasing of the repo rate has been done to maintain the 4 per cent inflation target, a target from which we have been away for several months,\" said the RBI Governor.Supreme Court comes down heavily on the Amrapali GroupThe Supreme Court has come down heavily on the Amrapali group for \"defrauding investors\" and playing \"dirty games\". The apex court has directed the attachment of all bank accounts and movable properties of 40 companies of the Amrapali real estate group. It has frozen all the bank account of all directors of the 40 companies and also restrained them from selling their personal properties without the permission of the court. The apex court is hearing petitions filed by flat buyers who have demanded reversing of the September 4, 2017, NCLT order.LIC-IDBI deal: Cabinet approves LIC's acquisition of 51% stake in IDBI BankUnion Cabinet, chaired by Prime Minister Narendra Modi, has cleared the Life Insurance Corporation's acquisition of 51 per cent stake in the debt-ridden IDBI Bank. The approval of the deal means LIC will raise its stake in the bank from the current 8 per cent to 51 per cent, which makes makes it a majority holder. As per the proposal, IDBI Bank will issue preferential shares to LIC to raise money. The LIC stake buy will help the bank get capital support of Rs 10,000-13,000 crore.TRAI Announces 5G Spectrum PricingTelecom regulator TRAI has recommended rules and prices for the next round of spectrum auction which will include radiowaves for 5G mobile services. The regulator has recommended that base price for bidding should be higher of the two figures - 80 percent of the average valuation of spectrum band in the licensed service area or the price realised in the October 2016 auction. The government is yet to finalise the timing of the next round of auction. RBI asks Paytm Payments Bank to stop enrolling new customers on its platform Days after Paytm Payments Bank CEO Renu Satti stepped down from her role to lead company's new retail initiative, a Livemint report said that the Vijay Shekhar Sharma-led mobile-first bank has stopped onboarding new users on its platform following observations made by the RBI. Paytm stopped enrolling new customers on June 20 following an audit by RBI. Paytm Payments Bank allows customers to open zero balance accounts without any transaction charges. It is part of a new set of differentiated banks which were given licence by the RBI Mukesh Ambani's Reliance Industries jumps 55 spots in Fortune 500 companies Mukesh Ambani-helmed Reliance Industries has made one of the biggest jumps in the Fortune 500 rankings of the world's biggest companies. Reliance Industries moved up on the list by 55 slots to be ranked at 148. It was previously ranked 203rd. According to Fortune, Reliance Industries saw an upward trend in profits by 25.5% in the last fiscal. In 2017-18, RIL saw a revenue of $62.3 billion. However, state-owned Indian Oil Corporation (IOC) is the top-ranked Indian company. It is ranked 137, a significant rise from the previous 168.


BusinessToday.In
August 1, 2018
The Sensex snapped its seven-session record setting spree to close lower today after the RBI hiked the policy rate on inflation concerns.The Reserve Bank's Monetary Policy Committee raised the benchmark lending rate by 0.25 per cent. The repo rate, at which the central bank lends to other banks, now stands at 6.5 per cent. It is the first time since October 2013 that the rate has been increased at consecutive policy meetings.The 30-share BSE Sensex, which had rallied to a fresh lifetime high of 37,711 in early trade, fell after the RBI announced its policy decision. The Nifty too touched an all-time high of 11,390 level intra day. It staged a bounce-back in late afternoon session, but finally closed lower by 84  points, or 0.23 per cent, at 37,521 points.The index had gained 1,110.21 points in the previous seven record-setting sessions.The Nifty too slipped from its record high, shedding 10 points or 0.09 per cent to end at 11,346. Intra-day, it shuttled between 11,390 and 11,313.Interest rate sensitive auto, finance and banking stocks finished with losses.While the BSE auto index fell 0.77% or 189 points to 24,307, the BSE banking index fell 0.55% or 171 points to 30,834 level.  Market breadth was positive with 1403 stocks closing higher compared with 1296 ending in the red on BSE.


BusinessToday.In
August 1, 2018
RBI's second-consecutive increase in repo rate comes as a bad news for those who have taken loans from banks.


BusinessToday.In
New Delhi, August 1, 2018
The reverse repo rate adjusted to 6.25 per cent, and the marginal standing facility rate and the bank rate to 6.75 per cent.


Anand Adhikari
New Delhi, August 1, 2018
There are five reasons why inflation will remain a big concern for the RBI in its third bi-monthly money policy to be released today.


BusinessToday.In
July 31, 2018
Any increase in repo rate comes as a bad news for those who have borrowed from banks because it is likely to lead to an increase in the interest they pay on loans.


PTI
July 29, 2018
The central bank had increased the benchmark short term lending rate(repo rate) by 0.25 per cent to 6.25 per cent in its last monetary policy review in June on inflationary concerns.


Money Today Team
New Delhi, July 23, 2018
Deadline For Aadhaar-PAN Linking Extended; e-PAN Can Be Generated Instantly


Naveen Kumar
New Delhi, July 23, 2018
Vinay Sah, MD and CEO of LIC Housing Finance (LIC HFL), talks to Naveen Kumar on the latest developments in the housing finance industry and the performance of the company as one of the significant NBFC players in this segment.


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