Business

Paytm starts payments bank; offers 4 pc interest, cashbacks

May 23:Targeting 500 million customers by 2020, digital payments firm Paytm today launched its payments bank with 4 percent interest rate and cashbacks on deposits, zero fees on online transactions and no minimum balance requirement.

RBI refuses to disclose list of loan defaulters

May 23: The Reserve Bank of India (RBI) has refused to make public the list of loan defaulters with public sector banks despite an order of the Supreme Court in 2015 to make this information public.

BJP leader Syed Zafar Islam on Air India’s board

May 23: BJP leader Syed Zafar Islam has been appointed as an independent director of Air India.

Have taken 7,000 steps to improve ease of doing biz: Nirmala

May 22: Over 7,000 steps, big and small, have been taken by the government so far to improve the ease of doing business in the country, Commerce and Industry Minister Nirmala Sitharaman has said.

Kashmir dispute, religious strife ’risks’ to India investment

May 22: A number of large foreign funds, managing trillions of dollars of investor assets globally, have flagged ’persisting religious conflicts’ and ’Kashmir dispute’ as potential risks to their investments in India

LIC investment income at Rs 1,80,117 cr in 2016-17

May 22: Insurance behemoth Life Insurance Corporation (LIC) of India earned a total investment income of Rs 1,80,117 crore during the financial year 2016-17.

Cess to be levied on at least 50 goods and service under GST

May 22: After the fitment of rates under GST, the fine print suggests that there will be nearly 50 goods and services on which the GST Council will imposed cess.

Sensex climbs 227 points on global rally in stocks

May 22: The benchmark BSE Sensex rallied over 227 points in early trade today on buying in FMCG, banking and IT stocks by investors enthused by the global rally in stock markets.

Tourist season clocks rise in domestic fliers

May 22: With the tourist season beginning, the number of domestic fliers rose by 15.15% in April, compared with the same month, last year.

FITE against Cognizant layoffs shifts to Bengaluru

May 18: After Chennai and Hyderabad, IT workers’ union FITE has now decided to approach the labour commission in Bengaluru to submit a petition to stop the alleged "illegal terminations" happening at Cognizant.

Govt clears new coal linkage policy

May 18: The government today approved a new policy under which fuel supply to the power sector will be either through the auction route or power purchase pact based on competitive bidding of tariffs.

GST Council meet from tomorrow to fix rates on goods, service

May 18: The tax that 1.3 billion Indians will pay on buying salt to luxury cars and on services like phone calls to dining out will be decided at the GST Council meet starting tomorrow in Srinagar.

FM to chair GST Council meet in Srinagar on Friday

May 18: The 14th meeting of the Goods and Services tax (GST) Council, to be chaired by Finance Minister Arun Jaitley, is set to begin in Srinagar on Friday.

Wipro strengthens prowess in blockchain

May 18: Wipro, the third largest IT services company, has decided to strengthen blockchain capabilities through Wipro Blockchain Innovation Lab, and aims to deploy the solution at the customer premises.

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.

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