Business

Paytm’s payments bank to operate from May 23

May 18: Paytm’s banking arm, Paytm Payment Bank, on Wednesday received formal clearance from the Reserve Bank of India (RBI) to commence operations of its payments bank from May 23.

Coffee Board to seek higher subsidy for growers

May 18: The Coffee Board would soon urge the Centre to increase subsidy on drip-irrigation equipment to 80%, from 25% for small growers to harvest water for plantations, the newly appointed Chairman of Coffee Board M S Boje Gowda said.

Sensex gets off record high, dives 222 points

May 18: A back-to-back record-setting run today made stocks do a reality check when the Sensex plunged over 222 points and the Nifty cracked below 9,500 in early session amid dollar outflows and a sluggish trend overseas.

Govt may hike cotton MSP by Rs 160/quintal

May 18: As farmers prepare fields for kharif sowing, the government is considering increasing the minimum support price (MSP) of cotton by Rs 160 per quintal, to Rs 4,320 for the 2017-18 crop year beginning July.

HUL net up 6.2% on domestic volumes

May 18: Led by good growth in domestic volumes, fast moving consumer goods major Hindustan Unilever (HUL) posted a 6.2% rise in its net profit

Sensex makes a retreat from record after rally fatigue

May 17: Stocks showed signs of fatigue today after two back-to-back record-setting sessions as the benchmark Sensex struggled to maintain its momentum, with investors shifting focus to taking profit.

Kassia seeks committee for MSMEs

May 17: Karnataka Small Scale Industries Association (Kassia) has urged for setting up a joint action committee of southern MSME associations to implement government programmes in South India.

B’luru luxury housing prices drop by -0.2%

May 17: Prices of luxury homes have come down in Bengaluru by a negligible -0.2% for the first quarter of 2017 at a time when other global technology hubs registered growth, states real estate research firm Knight Frank.

No reports of major disruption due to cyber attack, says IT secretary

May 17: The Centre on Tuesday said that the impact of global cyber attack has been limited to five or six isolated instances so far and there are no reports of any substantial disruption to India’s IT backbone.

Banks carry out ATM revamp

May 17: The ATM network across the country, which was partially affected following an advisory issued to banks by National Payments Corporation of India and the Reserve Bank of India in view of the WannaCry ransomware attack, is returning to normalcy.

Tata Steel Q4 losses halve to Rs 1,168 cr

May 17: Tata Steel has more than halved its consolidated losses to Rs 1,168 crore for the quarter ended March 31, 2017, compared with a loss of Rs 3,042 crore in the same quarter of the previous fiscal.

Foxconn seeks 13-acre land in JNPT

May 17: Union Road Transport and Shipping Minister Nitin Gadkari on Tuesday said Taiwan-based IT major Foxconn has sought 13 acre land at Jawaharlal Nehru Port Trust’s special economic zone (SEZ).

Vodafone operating profit down 10.2% after Jio’s entry

May 17: Mumbai: Hit by competitive pricing, especially due to the advent of Reliance Jio, Vodafone India posted a 10.2% decline in operating profit (EBITDA) for the year ended March 31, 2017 (FY17)

TCS to add 3.75 L sq feet office space in Bengaluru

May 17: At a time when Indian IT companies are going ahead with layoffs, Tata Consultancy Services (TCS) is expanding its presence in the tech hub.

Govt steps up black money chase

May 17: Stepping up its black money chase, the government on Tuesday pledged to handle “high risk” cases through enforcement actions as the number of those identified

Cyber attacks: a wake-up call for govt, companies

May 16: The latest ransomware WannaCry cyber attack across 150 countries has come as a wake-up call for the government and industries, which were hitherto hesitant to invest in software upgrades.

Financial institutions on high alert after WannaCry attack

May 16: Following the WannaCry ransomware attack, RBI has asked financial institutions to follow the instructions issued by CERT-In even as a few of them have already initiated measures to counter the attack.

SBI may merge two credit card joint ventures

May 16: State Bank of India, which is planning to hike stake in its card venture, may look at merging two of its joint ventures in the credit card business.

Economic data pushes scrips to all-time high

May 16: It was a day of another lifetime highs for the Indian markets as investors cheered better than expected macro economic data, which raised hopes of a rate cut by the Reserve Bank of India (RBI) in its next policy.

Exports up 20% in April; trade deficit widens

May 16: On a revival path for eight consecutive months, India’s exports grew close to 20% in April but imports too grew significantly widening the trade deficit to $13.25 billion.

Property dealers to come under PMLA

May 16: The government will soon bring property dealers under the purview of Prevention of Money Laundering Act (PMLA) so as to curb the use of black money in real estate and sky-rocketing prices.

ICICI Bank cuts home loan rates by 30 bps

May 16: ICICI Bank has said that it has reduced interest rates by 30 basis points (bps) for home loans up to Rs 30 lakh

Sensex, Nifty leap to new record highs on funds inflow

May 16: Raising the bar, the Sensex today shot up another 181 points to a fresh all-time intra-day high of 30,503 and the Nifty 9,482, with retail investors steering the ship amid unabated foreign capital inflows.

Not correct to assume IT industry going for big job cuts: Govt

May 16: Amidst apprehension that large scale job cut likely to take place in Indian IT sector, the Centre on Tuesday said that IT industry

Nifty breaches 9,500-mark, Sensex at new high

May 16: Benchmark Nifty breached the key 9,500-level for the first time, while the Sensex surged to a fresh lifetime high of 30,567 in afternoon trade today on early arrival of rains and persistent foreign inflows.

Solar tariff drops to Rs 2.44 per unit

May 13: Solar power tariff hit new lows of Rs 2.44 per unit, in the auction conducted for Bhadla solar park in Rajasthan on Friday.

Karnataka ready to look into job loss in IT sector

May 13: Karnataka IT and BT Minister Priyank Kharge on Friday said the government is ready to involve the labour department to deal with the ongoing lay offs in the IT industry, if there is any formal complaint from employees.

Aadhaar not required for filing I-T returns in Assam, J&K, Meghalaya

May 13: The government on Friday exempted non-resident Indians, individuals living in Assam, Jammu and Kashmir and Meghalaya, of Aadhaar for filing income tax returns or application of Permanent Account Number.

MobiKwik ties up with Bangalore One

May 13: Mobile wallet MobiKwik has joined hands with Bangalore One to enable digital payment solutions for the payment of government taxes, and utility bills.

Infosys defers salary hikes to July

May 13: Infosys, the second-largest IT services company, has deferred salary hikes for employees to July. In case of senior executives, it has pushed the pay hike to a much later date.

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