Category Archives: Business

Rupee strengthens 29 paise to 71.38 against US dollar

The domestic unit opened with strength at Rs 71.39 at the Interbank Foreign Exchange and advanced further to trade at 71.38 against the US dollar. This is the highest level since September 4.

More steps for MSMEs, weak banks likely at next meeting

Sources said the decision may come at the next meeting scheduled for December 14, and could be accompanied by a relaxation in the prompt corrective action (PCA) framework for so-called weak banks.

Interest in RBI goes beyond interest rates

The change in image started with ‘Raghuram Rajan the Rockstar’ who made the RBI — which by the very nature of any central bank, is supposed to be staid and stodgy — look kind of ‘sexy’. But that was largely personality-driven because of the way Rajan walked and talked. The general public still wasn’t much the wiser about the role and remit of RBI.

RBI vs Govt: Viral Acharya was defiant, but isolated

“Both sides showed flexibility and accommodation. The discussions were congenial, comprehensive and rigorous,” said an independent director. There was a recognition to acknowledge the issues and move on.

Amit Chandra resigns from Tata Trust

Bain Capital MD Amit Chandra resigned from the board of Sir Ratan Tata Trust (SRTT) as he wants to cut down on “non-Bain” activities and increase his engagement with his own philanthropic work.The private equity honcho, however, would continue to represent SRTT’s interests on Tata Sons’ board. Chandra, who joined in Aug’16 had voted for Mistry’s removal at Tata Sons’ board meet.

Tax body says back office operations must pay 18% GST

The matter has sent the industry into a tizzy. Till now, these services were treated as exports and were not taxed. If the AAR ruling stands, it is expected to have a big hit on the operations of these companies.

B’luru-based CropIn gets funds from Bill Gates, Chiratae

CropIn provides farm management solutions, leveraging capabilities of live reporting, analysis, interpretation and insight that span across geographies to enhance productivity.

Oil reprieve may not last too long

RBI board holds marathon meeting amid differences with government

The RBI board held a marathon meeting on Monday amid a rift between the central bank and the government over several issues, including how much capital the apex bank needs, lending norms for small and medium enterprises and rules for weak banks.

Sensex rallies over 300 points ahead of RBI board meet outcome

The finance ministry nominees and some independent directors were expected to take on Patel and his team over issues ranging from MSME credit to the central bank’s reserves, though both sides are in favour of reaching a common ground.