Category Archives: Business

Rupee tumbles 16 paise, breaches 72-mark vs dollar

At the Interbank Foreign Exchange (forex) market, the local unit opened lower at 72.10 and fell further to touch the day’s low of 72.17. The domestic currency, however, pared some losses and finally ended at 72.01 per dollar, down by 16 paise against its previous close.

Retail inflation cools to 2.33% in November; October factory output at 8.1%

The November data shows that the inflation stood below the Reserve Bank’s medium-term target of 4 per cent for a fourth straight month. Also, this is for the first time since July 2017, the figure came below 3 per cent.

Will try and uphold RBI’s autonomy, says governor Shaktikanta Das

Das further said that, “I have convened a meeting with CEOs and MDs of public sector banks tomorrow morning (December 13). Banking is an important segment in our economy and it’s facing several challenges that need to be dealt with. It’s the banking sector on which I’d like to focus immediately.”

Markets end higher as new RBI chief takes charge, Sensex surges 629 points

On the BSE index, Hero MotorCorp, Bharti Airtel, Adani Ports, Yes Bank and Mahindra & Mahindra were among the major gainers, rising as much as much 7.01 per cent. On NSE, all the sub-indices closed in green with Nifty Realty outperforming the index, up 4.36 per cent.

GST evasion worth Rs 12,000 crore detected between April-November

Central Board of Indirect Taxes and Customs (CBIC) member John Joseph said despite the electronic way or e-way bill mechanism there has been rampant evasion and there is a need to increase compliance.

Huawei row: Canada-China ties turn icy

The former diplomat is Michael Kovrig. He works for the International Crisis Group, which said it was seeking his prompt and safe release. Canadian officials said they were not immediately able to confirm that Kovrig was in detention.

‘No plans’ to launch Chinese search engine: Google

Lawmakers and Google employees have raised concerns the company would comply with China’s internet censorship and surveillance policies if it re-enters the Asian nation’s search engine market.

Shaktikanta Das assumes charge as RBI governor

“Assumed charge as Governor, Reserve Bank of India. Thank you each and everyone for your good wishes,” Das said in a tweet. Finance minister Arun Jaitley termed Das as a person with “right credentials” for the RBI top job.

India to increase public health spending to 2.5% of GDP: PM Modi

PM Modi said India is one of the first countries to advocate focused attention on adolescence and to implement a full-fledged health promotion and prevention programme for adolescents.

Yes Bank stock rises over 4% ahead of board meet

Last month, Yes Bank said its board on December 13 will recommend names for new chairman to be approved by the RBI as well as consider appointment of independent directors.