Wednesday, October 16, 2019
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NEWS
BUSINESS

Mindtree reports muted revenue growth, profit falls by 34 pc
Bengaluru (Karnataka) | October 16, 2019 5:11:38 PM IST
L&T-owned digital transformation company Mindtree on Wednesday reported a net profit of Rs 135 crore during the July to September quarter, marking a decline of 34.6 per cent year-on-year but growth of 45.6 per cent quarter-on-quarter. ... read..


Amazon's consumer business fully sheds Oracle, moves on AWS
Seattle | Wednesday, 2019 4:45:05 PM IST
In what could give the ongoing bitter war between Cloud majors Oracle and Amazon Web Services (AWS) a rest, Amazon has announced it has completely shed legacy Oracle databases and its entire consumer business is now running on its own AWS databases. ... read..


Stocks trade on lacklustre note, Bharat Petroleum gains by 4.3 pc
Mumbai (Maharashtra) | October 16, 2019 4:41:37 PM IST
Equity benchmark indices dithered throughout the trading session on Wednesday but closed in the green with marginal gains. ... read..


Markets open on positive note, PSU banks up (Lead)
Mumbai | Wednesday, 2019 4:15:05 PM IST
Indian markets opened higher on Wednesday led by gains in banks and financial sector stocks amid supportive global markets. ... read..


Mavenir wins 2 awards for Innovation at India Mobile Congress 2019
| October 16, 2019 4:11:56 PM IST
New Delhi [India] Oct 16 (ANI/NewsVoir): Mavenir, the industry's only end-to-end cloud-native 4G and 5G network software provider for CSPs was recognized for its continuous innovation with two awards at the India Mobile Congress, taking place in New Delhi ... read..


Federal Bank Q2 profit up 57 pc to Rs 417 crore, NII jumps 10 pc
New Delhi | October 16, 2019 4:11:50 PM IST
Private sector lender Federal Bank on Wednesday reported a healthy 56.7 per cent year-on-year growth in the second quarter profit due to other income and lower tax cost. ... read..


Markets open on positive note
Mumbai | Wednesday, 2019 3:45:05 PM IST
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note. ... read..


Evocus - India's first natural black alkaline mineral water - now in Delhi-NCR
| October 16, 2019 3:11:56 PM IST
New Delhi [India] Oct 16 (ANI/NewsVoir): AV Organics - an indigenous start-up venture - today announced the launch of 'Evocus', India's first natural black alkaline water, in Delhi-NCR. The launch is in line with the company's expansion strategy and visio ... read..


Future Gaming announces launch of Diwali bumper lotteries
| October 16, 2019 3:11:54 PM IST
Mumbai (Maharashtra) [India] Oct 16 (ANI/BusinessWire India): Future Gaming, the leading distributor of lotteries in the Indian states since past 28 years has geared up to celebrate Diwali with a bang for its customers by introducing three big lotteries w ... read..


Air passengers want to use personal device to control more aspects of journey: IATA
Warsaw | October 16, 2019 3:11:34 PM IST
An overwhelming majority of air passengers prefer to have more personal control over their journey via smartphones and being able to use biometric identification to speed up travel processes, a recent survey by the International Air Transport Association ... read..


Nitin Gupta meets Finance Minister Nirmala Sitaraman
New Delhi | October 16, 2019 2:41:32 PM IST
Nitin Gupta, Managing Director, Cosmo-Tech Solutions, Pune, along with Senior Directors of SRAM & MRAM met Nirmala Sitaraman, Finance Minister of India, during her visit to Pune. During the meeting, Nitin Gupta briefed the Finance Minister about the p ... read..


Bank of Maharashtra complains of fake news in social media about financials
| October 16, 2019 1:41:43 PM IST
Bank of Maharashtra has lodged a complaint with Pune Police and Cyber Cell against circulation fake news and spreading of rumours about its financial health on WhatsApp, news sites and other social media platforms. ... read..


TIE Global Summit to hold the 12th annual TiE-Lumis Entrepreneurial Excellence Awards
| October 16, 2019 1:41:38 PM IST
New Delhi [India] Oct 16 (ANI/NewsVoir): The TiE Global Summit four will be held at Taj Palace, New Delhi, on 14 and 15 November 2019. It will also feature the 12th edition of the TiE-Lumis Entrepreneurial Excellence Awards which will take place at the sa ... read..


Bajaj Finserv's Sparkling Diwali: Avail great offers on business Loans for Doctors
| October 16, 2019 1:41:36 PM IST
Pune (Maharashtra) [India] Oct 16 (ANI/BusinessWire India): Bajaj Finance Limited, the lending arm of Bajaj Finserv, is running an exclusive offer on Loan for Doctors. With the festive season just around the corner, every doctor is sure to have a full sch ... read..


Inox Wind signs additional deal for SECI 50 MW capacity with Adani
Noida (Uttar Pradesh) | October 16, 2019 12:41:41 PM IST
Energy solutions provider Inox Wind said on Wednesday it has closed a deal for sale of a 50 megawatt wind power project at Dayapar in Kutch district of Gujarat in which Adani Green Energy will be the strategic investor. ... read..


Stable outlook for global construction sector supported by infrastructure spending: Moody's
| October 16, 2019 12:41:36 PM IST
Moody's Investors Service said in a new report released on Wednesday that healthy revenue growth and book-to-bill ratios point to supportive business conditions for the global construction sector, supporting its stable outlook for the industry over the ne ... read..


US-China trade war to drag down global growth: IMF
Washington | Wednesday, 2019 12:15:05 PM IST
The trade war between the United States and China will drag the global economy down with the gloomiest growth forecast for 2019 and 2020 since the financial crisis, warned the International Monetary Fund. ... read..


Forum highlights low-carbon technologies and policies as key to Asia Pacific's sustainable future
Changsha (Hunan) | October 16, 2019 11:41:32 AM IST
Countries in Asia and the Pacific must adopt more effective and innovative low-carbon policies and technologies to secure greener and more sustainable growth, delegates said on Wednesday at a forum hosted by the Asian Development Bank (ADB) and the Hunan ... read..


US dollar declines against British pounds amid Brexit optimism
New York | Wednesday, 2019 11:15:05 AM IST
The US dollar declined against the British pound after news reports showed Britain and European Union (EU) negotiators are closing in on a draft Brexit deal. ... read..


Indian eco-friendly batteries win Schneider Electric's 2019 student competition in Barcelona
| October 16, 2019 11:11:39 AM IST
New Delhi [India] Oct 16 (ANI/NewsVoir): Schneider Electric, the leader in the digital transformation of energy management and automation, has announced the winning team of Go Green in the city 2019, its international student case study competition. Nimis ... read..


INVENT programme supports startups in low-income states
New Delhi | October 16, 2019 11:11:31 AM IST
INVENT, a British government-supported programme, has successfully incubated 160 startups across different sectors since its inception in 2016, according to a senior official. ... read..


US stocks close higher amid strong earnings season
New York | Wednesday, 2019 10:45:05 AM IST
US stocks closed higher, as the market was supported by a cheering start of the third-quarter corporate earnings season and modest manufacturing data of New York State. ... read..


Equities flat in choppy session, Nifty realty gains 1.4 pc
Mumbai (Maharashtra) | October 16, 2019 10:41:37 AM IST
Equities see-sawed but remained in the positive zone during early hours on Wednesday amid positive global cues. ... read..


Jio asks Trai to stop IUC scrapping schedule consultations
New Delhi | Wednesday, 2019 5:15:05 AM IST
Reliance Jio, which has now started charging for voice calls to other networks, has asked regulator Trai to stop the consultation process on a new timeline for removing Interconnect Usage Charges (IUC) and enforce 'Bill and Keep' regime under the IUC regu ... read..


Railways to run promotional trains, Housefull 4 crew first taker
New Delhi | Wednesday, 2019 4:15:05 AM IST
Struggling with high operation cost, the Indian Railways has come up with a unique idea to increase its revenue by promoting movies, art, culture, sports or even television shows. ... read..


Unions cry foul, refute HAL's claims on wage hike (Lead)
Bengaluru | Wednesday, 2019 4:15:05 AM IST
Refuting the company's charge that their indefinite strike for wage hike was illegal, 9 unions of the state-run Hindustan Aeronautics Limited (HAL) on Tuesday accused its management of indulging in double standards. ... read..


Centre to monitor food prices during festival season
New Delhi | Wednesday, 2019 3:45:05 AM IST
In a bid to keep food prices in check during the festival season, the Centre on Tuesday directed the states to regularly monitor the supply and prices of staples like onions, pulses, tomatoes, edible oils and oilseeds. ... read..


India's overall growth 'very strong' by world economy standards: IMF (Lead)
United Nations | Wednesday, 2019 3:15:05 AM IST
Although India's economic growth rate has been cut to 6.1 per cent for the current fiscal year, it still remains "very strong" by global standards, International Monetary Fund's (IMF) Deputy Research Director Gian Maria Milesi-Ferreti said on Tuesday. ... read..


IBBI for statutory recognition of valuation professionals
New Delhi | Wednesday, 2019 3:15:05 AM IST
The Insolvency and Bankruptcy Board of India (IBBI) Chairman M.S. Sahoo has said that there should be a statuary nod given to valuation professionals in India to further streamline the profession. ... read..


Jio, Samsung showcase 5G, LTE use cases at IMC 2019
New Delhi | Wednesday, 2019 3:15:05 AM IST
A partnership between telecom majors Reliance Jio and Samsung Electronics on Tuesday showcased use cases based on fifth-generation (5G) techonology at the India Mobile Congress here. ... read..


Sensex ends 291 points higher, Nifty up too (Lead)
Mumbai | Wednesday, 2019 3:15:05 AM IST
Trade-related optimism kept the sentiments in the global markets upbeat on Tuesday. In India, the Sensex closed 291 points higher while the Nifty finished at 11,428. ... read..


'BJP's majoritarianism crippled Indian economy'
New Delhi | Wednesday, 2019 2:45:05 AM IST
Taking cue from an article by Finance Minister's husband in a newspaper, the Congress on Tuesday launched a scathing attack on the Modi government over the state of the Indian economy. The party asserted that P. Prabhakar, Nirmala Sitharaman's husband, is ... read..


Slowing economy: India's exports dip third time this year
New Delhi | Wednesday, 2019 2:45:05 AM IST
India's merchandise exports in September declined for the third time in the current financial year, while imports dropped for the fourth consecutive month, signaling that rising protectionism and continuing trade tensions between the US and China along wi ... read..


IMF cuts India's FY20 growth forecast to 6%
New Delhi | Wednesday, 2019 2:15:05 AM IST
The outlook for the Indian economy for the current fiscal seems to get bleaker by the day as major economic forums and institutions have of late revised the country's GDP forecast downwards, with the International Monetary Fund (IMF) being the latest in t ... read..


Construction licence for big projects within 15 days: Goa CM
Panaji | Wednesday, 2019 1:45:05 AM IST
A month after the Chief Executive Officer of the state government's Investment Promotion Board quit citing complaints related to red-tapism, Chief Minister Pramod Sawant on Tuesday said that the Board would facilitate construction licences to big ticket p ... read..


Special thrust on gas infrastructure: Pradhan
New Delhi | Wednesday, 2019 1:45:05 AM IST
Petroleum and Natural Gas Minister Dharmendra Pradhan on Tuesday said that the government has a special focus on building gas infrastructure in the country. ... read..


Despite deleveraging, Essar turnover Rs 1 lakh cr: Ruia
New Delhi | Wednesday, 2019 1:45:05 AM IST
Despite aggressively deleveraging the balance sheet to the tune of Rs 1,40,000 crore through monetisation of several key assets, the existing businesses of Essar Group in the sectors of energy, infrastructure, metals & mining, services and technology, hav ... read..


ASSOCHAM to launch platform for entrepreneurs
Chandigarh | Wednesday, 2019 1:45:05 AM IST
Carrying on with its 'Startup Elevator Pitch Series', the ASSOCHAM Launchpad, an initiative and platform for budding entrepreneurs, will be flagged off here on Friday. ... read..


Delhi launches portal for online processing of building plans
New Delhi | Wednesday, 2019 1:15:05 AM IST
As part of the Ease of Doing Business (EODB) reforms, an online portal for sanction of building plans for up to 500 square metres (sqm) for low-risk residential buildings was launched here on Tuesday by Delhi Lt. Governor Anil Baijal. ... read..


Determined for oil market stability beyond 2020: OPEC
New Delhi | Tuesday, 2019 11:45:05 PM IST
OPEC Secretary General Mohammed Barkindo on Tuesday said that the organisation is determined to maintain stability in the global oil market beyond 2020. ... read..


Wipro net soars 35% in Q2, revenue up 4% (Lead)
Bengaluru | Tuesday, 2019 11:45:05 PM IST
Software major Wipro on Tuesday reported Rs 2,550 crore net profit for the second quarter (Q2) of fiscal 2019-20, registering 35 per cent year-on-year (YoY) growth over the same period last year. ... read..


BSNL hopeful on paying salaries before Diwali, says CMD (Lead)
New Delhi | Tuesday, 2019 11:45:05 PM IST
State-run BSNL, facing hard times financially, is hopeful of giving salary for September to its 1.76 lakh employees before Diwali, its Chairman and Managing Director P.K. Purwar said on Tuesday. ... read..


Need sufficient, affordable 5G spectrum auction: Jio President
New Delhi | Tuesday, 2019 11:15:05 PM IST
India's second largest telecom company by subscribers Reliance Jio said on Tuesday that a spectrum auction should not be seen as a money generating mechanism, while adequate quantity of 5G radio waves should be provided to ensure the optimal exploitation ... read..


Monsoon withdraws from eastern, northeastern India
Agartala/Guwahati | Tuesday, 2019 11:15:05 PM IST
The four-month-long southwest monsoon has withdrawn from eastern and northeastern states and most parts of India during the last few days, a top Met department official said on Tuesday. ... read..


Manmohan to meet press and eminent personalities in Mumbai
New Delhi | Tuesday, 2019 10:45:05 PM IST
In the run up to Maharashtra elections, the Congress is pitching high on slowdown in Indian economy. The party has decided to field former Prime Minister Dr. Manmohan Singh on October 17 to lend a credible voice against the government's policies on the ec ... read..


Piyush Goyal flags off nine Sewa Service trains
New Delhi | Tuesday, 2019 10:45:05 PM IST
In a bid to achieve last-mile connectivity for people travelling between small towns and major cities, Railways Minister Piyush Goyal on Tuesday flagged off nine 'Sewa Service' trains saying the national transporter is taking transformational steps for th ... read..


Workforce can't get same pay as executives, says HAL
Bengaluru | Tuesday, 2019 10:15:05 PM IST
Rejecting the employees' demand for higher wage revision, the state-run Hindustan Aeronautics Limited (HAL) on Tuesday said workers could not be treated at par with officers or executives in salaries and perks. ... read..


Maruti Suzuki: Invested Rs 154 cr for CSR in FY19
New Delhi | Tuesday, 2019 10:15:05 PM IST
Automobile major Maruti Suzuki India on Tuesday said that it has invested over Rs 154 crore towards the CSR initiatives during Financial Year 2018-19. ... read..


Jio's IPO timeline not deliberated on so far: Networks President
New Delhi | Tuesday, 2019 9:45:05 PM IST
Reliance Jio, currently the country's most profitable telecom firm is yet to decide on a timeline for its initial public offer (IPO), company President Mathew Oomen said on Tuesday. ... read..


Air India becomes 1st airline to use 'TaxiBot' on commercial flight
New Delhi | Tuesday, 2019 9:15:05 PM IST
National passenger carrier Air India on Tuesday became the first airline in the world to use "TaxiBot" on an Airbus A320 aircraft operating a commercial flight. ... read..


DMRC's Yellow line faces delay, restored to normal
New Delhi | Tuesday, 2019 6:45:05 PM IST
Commuters travelling by the Delhi Metro's Yellow line on Tuesday faced issues due to a delay, forcing trains to move at a slow pace between Qutub Minar and Huda City Centre. ... read..


ACC reports 45 pc jump in September quarter profit at Rs 303 crore
Mumbai (Maharashtra) | October 15, 2019 6:41:43 PM IST
Cement manufacturer ACC Ltd said on Tuesday its profit after tax (PAT) jumped 45 per cent to Rs 303 crore in the July to September quarter compared to Rs 209 crore in the corresponding period of last year. ... read..


Hike tariffs on Pak products: Afghan businessmen
Kabul | Tuesday, 2019 6:15:05 PM IST
A number of Afghan businessmen have called on the government to increase tariffs on Pakistan's seasonal exports, a media report said on Tuesday. ... read..


Birla Cellulose manufactures Viscose Fibre using pre-consumer cotton waste
| October 15, 2019 6:11:41 PM IST
Mumbai (Maharashtra) [India] Oct 15 (ANI/BusinessWire India): Birla Cellulose, one of the global leaders in Man Made Cellulose Fibre (MMCF), has achieved a breakthrough in manufacturing viscose fibre using pre-consumer cotton fabric waste. ... read..


Snapdeal's Brand Registry helps sellers protect their Registered Brands
| October 15, 2019 6:11:40 PM IST
Gurugram (Haryana) [India] Oct 15 (ANI/NewsVoir): Snapdeal, India's largest value-focused online market place, is scaling up its brand registry program, which helps protect sellers having their own registered brands from brand infringements on its marketp ... read..


SRL-Microsoft develops AI-powered API to improve cancer diagnosis and patient care
| October 15, 2019 6:11:38 PM IST
Mumbai (Maharashtra) [India] Oct 15 (ANI/NewsVoir): SRL and Microsoft organized a day-long pan India Histopathology Meet, themed on 'Digital Pathology and Artificial Intelligence', in Mumbai. ... read..


Avaali recognized as 'The Economic Times Promising Brands 2019-20'
| October 15, 2019 6:11:34 PM IST
Bengaluru (Karnataka) [India] Oct 15 (ANI/NewsVoir): In continuation of Best Brand series by The Economic Times, Avaali was awarded 'Promising Brands 2019-20' in an event held in Dubai on October 15th. ... read..


Pantene launches its new 'FREEDOM HAIR' Campaign
| October 15, 2019 6:11:32 PM IST
Mumbai (Maharashtra) [India] Oct 15 (ANI/NewsVoir): These are undoubtedly transformative times for young girls around the world, and Indian girls are also fuelling the winds of change. ... read..


Delhi FSL doubles number of mobile forensic units to cater to rising demand for DNA Testing in Crime
| October 15, 2019 6:11:31 PM IST
New Delhi [India] Oct 15 (ANI/BusinessWire India): The Delhi Forensic Science Laboratory (DFSL) has been sanctioned three more Mobile Crime Scene Units in addition to existing four units to handle the increasing volume of requests for crime scene examinat ... read..


Wipro Q2 net profit jumps 35 pc to Rs 2,553 crore
Bengaluru (Karnataka) | October 15, 2019 5:41:41 PM IST
IT services major Wipro said on Tuesday its consolidated net profit jumped 35 per cent to Rs 2,553 crore for the second quarter (July to September) of current financial year 2019-20. ... read..


Centre not keen on staff representatives on bank boards: AIBEA
Chennai | Tuesday, 2019 5:15:05 PM IST
The All India Bank Employees' Association (AIBEA) has written to Finance Minister Nirmala Sitharaman stating that the Central government does not want its representatives on the boards of public sector banks. ... read..


Equities close with strong gains, Nifty auto top performer
Mumbai (Maharashtra) | October 15, 2019 5:11:50 PM IST
Equities gained in the afternoon session on Tuesday and both benchmark indices closed 0.7 per cent higher after reports said that China has confirmed signing phase one of the trade deal with the United States. ... read..


BSNL staff to get salary before Diwali: Purwar
New Delhi | Tuesday, 2019 4:45:05 PM IST
With its employee unions threatening a day-long hunger strike on Friday over delayed salaries during the festival season, state-run Bharat Sanchar Nigam Ltd (BSNL) has said that it is hopeful of paying salaries to its 1.76 lakh employees for September bef ... read..


Sensex up 167 points, auto and banks gain
Mumbai | Tuesday, 2019 4:45:05 PM IST
Sensex was up 167 points after opening in the green supported by buying in auto and banking stocks on Tuesday. ... read..


Govt could raise deposit guarantee limit from Rs 1 lakh: FM
New Delhi | Tuesday, 2019 4:20:54 PM IST
Finance Minister Nirmala Sitharaman on Monday said that she is closely monitoring the developments at Punjab and Maharashtra Cooperative (PMC) Bank and the government could consider raising deposit guarantee limit from existing Rs 1 lakh. ... read..


'Demand is reducing drastically in India, big fight on data integrity not helping' (IANS Exclusive)
Boston | Tuesday, 2019 4:20:54 PM IST
Fifty-eight-year old Indian American Abhijit Banerjee is the toast of MIT Sloan and India by becoming the sixth Kolkatan to win a Nobel Prize. ... read..


Air India Saga: new EoI for divestment likely by November
New Delhi | Tuesday, 2019 4:20:54 PM IST
The Centre is likely to issue the expression of interest (EoI) for divestment of its stake in national passenger carrier Air India by November. ... read..


Punjab Governor to open CII's fair in Chandigarh
Chandigarh | Tuesday, 2019 4:20:53 PM IST
Punjab Governor and Chandigarh Administrator V.P. Singh Badnore will open the 24th edition of Confederation of Indian Industry's (CII) Chandigarh Fair 2019 here on October 18, it was announced on Monday. ... read..


Higher food prices lift India's retail inflation to 3.99%
New Delhi | Tuesday, 2019 4:20:53 PM IST
Higher food prices lifted India's September retail inflation to 3.99 per cent from 3.28 per cent in August, official data showed on Monday. ... read..


Private sector investment rate may decline: Kotak report
Mumbai | Tuesday, 2019 4:20:53 PM IST
Private investment in the country may decline given the paucity of large industrial or infrastructure projects for the private sector, a Kotak report said on Monday. This despite a sharp cut in corporate tax announced by the government last month. ... read..


Technology to drive advances in passenger experience and infrastructure: IATA
| October 15, 2019 3:41:33 PM IST
Warsaw [Poland], Oct 15 (ANI) The International Air Transport Association (IATA) on Tuesday called on governments and industry to work together to make the best use of modern technology to put the passenger at the centre of the journey and to achieve grea ... read..


Magnum spreads festive cheer with its first-ever pop-up store
| October 15, 2019 3:11:52 PM IST
Mumbai (Maharashtra) [India] Oct 15 (ANI/NewsVoir): Magnum invites you to experience the ultimate pleasure as it celebrates the launch of India's first-ever pop-up store at Phoenix Market City, Lower Parel, Mumbai and Phoenix Market City, Velachery, Chenn ... read..


Farmers should be key stakeholders in coffee value chain: Goyal
New Delhi | October 15, 2019 3:11:49 PM IST
Minister of Commerce and Industry Piyush Goyal on Tuesday asked the Coffee Board of India and the International Coffee Organisation (ICO) to explore ways for making Indian coffee a global brand and the country a sustainable destination for coffee aficiona ... read..


Global energy major Equinor extends pact with HCL Technologies
Noida (Uttar Pradesh) | October 15, 2019 3:11:32 PM IST
HCL Technologies said on Tuesday it has renewed its IT operations and transformation agreement with Equinor, the largest supplier of oil and gas in the Nordic energy market and the largest offshore operator in the world. ... read..


Prevention of sexual harassment at the workplace
| October 15, 2019 1:41:38 PM IST
New Delhi [India] Oct 15 (ANI/NewsVoir): The global #MeToo campaign raised the bar on conversations around sexual harassment at the workplace. But conversations are not enough. Making workplaces safe for women needs effective implementation and understand ... read..


Animals in need of help after floods in Bihar
| October 15, 2019 1:41:34 PM IST
New Delhi [India] Oct 15 (ANI/NewsVoir): International animal welfare charity, World Animal Protection, along with Veterinary Emergency Response Unit (VERU) Bihar is responding to the floods in Patna city of Bihar. ... read..


ONGC signs pact with ExxonMobil to share expertise
New Delhi | October 15, 2019 1:11:37 PM IST
Oil and Natural Gas Corporation (ONGC) Ltd said on Tuesday it has signed a memorandum of understanding (MoU) with US petroleum giant ExxonMobil to undertake joint technical studies and cooperate in frontier areas. ... read..


US dollar rises against British pound
New York | Tuesday, 2019 12:45:05 PM IST
The US dollar rose against the British pound as investors closely monitored Brexit development. ... read..


US stocks close slightly lower
New York | Tuesday, 2019 12:45:05 PM IST
US equities wrapped up the first trading day of the week with small losses, as investors adopted a wait-and-see attitude toward the latest development of US-China trade talks, and braced for the upcoming third-quarter corporate earnings season. ... read..


Meet the female-owned digital brand aiming to disrupt India's USD 32 billion home decor industry
| October 15, 2019 12:41:42 PM IST
Bengaluru (Karnataka) [India] Oct 15 (ANI/BusinessWire India): Life's too short to live in an uninspired space. Founded by Neha Bhandari and Avisha Gopal, the Auri Collective aims to separate itself from other online players who mostly operate under a mar ... read..


Maruti Suzuki invests Rs 154 crore towards CSR initiatives in FY19
New Delhi | October 15, 2019 12:41:40 PM IST
Maruti Suzuki India Ltd (MSIL) said on Tuesday that it invested over Rs 154 crore towards its corporate social responsibility (CSR) initiatives during the financial year 2018-19. ... read..


RBI imposes Rs 1 crore fine on LVB, Rs 75 lakh on Syndicate Bank for violating norms
Mumbai (Maharashtra) | October 15, 2019 11:41:42 AM IST
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1 crore on Lakshmi Vilas Bank for non-compliance with certain provisions of directions on Income Recognition and Asset Classification (IRAC) norms. ... read..


Yes Bank sells 6.7 pc stake in Fortis Healthcare
Mumbai (Maharashtra) | October 15, 2019 11:11:41 AM IST
Yes Bank said on Tuesday it has recovered Rs 645 crore of Religare exposure through sale of a 6.77 per cent block of Fortis Healthcare Ltd shares. ... read..


Equity indices in the green, IndianOil jumps over 2 pc
Mumbai (Maharashtra) | October 15, 2019 10:41:33 AM IST
Equities traded in the green during early hours on Tuesday in line with positive global cues. ... read..


Indian economy in 'tailspin' warns Nobel laureate Banerjee
New York | Tuesday, 2019 10:15:05 AM IST
The newly-minted economics Nobel laureate Abhijit Banerjee has warned that the Indian economy is going into "a tailspin" and his prescription is for the government to focus to increasing demand rather than on deficits or stability. ... read..


Nobel winner feels no grand theory can explain underdevelopment: Economists
Kolkata | Tuesday, 2019 7:15:06 AM IST
Successful micro-level field experiments like the one that established a connect between barefoot children, whooping cough and school drop outs in Africa characterise the works of Abhijit Vinayak Banerjee and his wife Esther Duflo who believe there can be ... read..


Delhi traffic police to withdraw 1.5 lakh e-challans (IANS Exclusive)
New Delhi | Tuesday, 2019 5:15:05 AM IST
Delhi Traffic Police have decided to withdraw about one and a half lakh challans issued mostly to those who were found overspeeding on National Highway 24 between August and October 10. ... read..


PSBs disburse Rs 81,781 cr credit in phase I outreach: FM (Lead)
New Delhi | Tuesday, 2019 5:15:05 AM IST
Public sector banks disbursed Rs 81,781 crore, including new term loans of Rs 34,342 crore during the first phase of the Customer Outreach Initiative from October 1-9 and sanctioned Rs 39,068 crore to NBFCs from September 19-October 10, the Finance Minist ... read..


Low fuel cost keeps inflation under RBI limit, more cuts expected (Roundup)
New Delhi | Tuesday, 2019 5:15:05 AM IST
Despite a rise in food prices, especially those of vegetables like onions, two key macro-economic gauges showed that inflation remained within Reserve Bank of India's tolerance limit, signalling the possibility of more lending rate cuts. ... read..


HFCL launches next-gen WiFi products, solutions
New Delhi | Tuesday, 2019 4:45:05 AM IST
Telecom equipment maker and infrastructure provider HFCL on Monday launched next generation WiFi products and solutions under its brand 'IO'. ... read..


Indian-origin prof shares Economics Nobel for poverty research (2nd Lead)
New York | Tuesday, 2019 4:45:05 AM IST
Abhijit Banerjee has been awarded the Economics Nobel Prize along with his wife Esther Duflo and another US academic, for their research on how to alleviate poverty that has helped eduction of the poor in India and also revolutionised the field of develop ... read..


PMC Bank depositors now allowed to withdraw Rs 40,000 (2nd Lead)
Mumbai | Tuesday, 2019 3:45:05 AM IST
The Reserve Bank of India on Monday again raised the withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank - to Rs 40,000 from Rs 25,000. ... read..


All key reforms happened in last 5 years: FM responds to spouse's critique of economy
New Delhi | Tuesday, 2019 3:45:05 AM IST
Union Finance Minister Nirmala Sitharaman said on Monday that all the key reforms such as Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC) and Aadhaar have taken place in the last five years. ... read..


'Maha-connections' of Nobel laureate Abhijit Banerjee
Mumbai | Tuesday, 2019 2:45:05 AM IST
As Indians all over the world were thrilled as renowned Indian-American economist Abhijit Banerjee was on Monday named, along with his French wife Esther Duflo and fellow US professor Michael Kremer, the recipient of the 2019 Nobel Prize in Economics - it ... read..


Ministry mulling threshold for homebuyers to trigger insolvency
New Delhi | Tuesday, 2019 2:15:05 AM IST
In a move to limit the abuse of the Insolvency and Bankruptcy Code (IBC), the Corporate Affairs Ministry is mulling the setting of a threshold for homebuyers for starting insolvency proceedings against real estate developers, Corporate Affair Secretary In ... read..


Withdrawal limit for PMC Bank depositors now Rs 40,000
Mumbai | Tuesday, 2019 2:15:05 AM IST
The Reserve Bank of India on Monday enhanced the withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank to Rs 40,000 from Rs 25,000. ... read..


5G may add 0.35-0.5% to India's GDP by 2025: Report
New Delhi | Tuesday, 2019 2:15:05 AM IST
A KPMG report on Monday said that 5G technology has the potential to add 0.35-0.5 per cent to India's gross domestic product (GDP) by 2025. ... read..


RBI imposes Rs 1 crore penalty on Lakshmi Vilas Bank
Mumbai | Tuesday, 2019 1:45:05 AM IST
The Reserve Bank of India (RBI) on Monday imposed a penalty of Rs 1 crore on the Lakshmi Vilas Bank Ltd, owing to deficiencies in its regulatory compliance. ... read..


ED attaches assets worth Rs 3,830 cr in PMC fraud case
New Delhi | Tuesday, 2019 1:45:05 AM IST
The Enforcement Directorate (ED) on Monday said that it has seized and identified assets worth Rs 3,830 crore owned by Directors and Promoters of the Housing Development and Infrastructure Limited (HDIL), Punjab and Maharashtra Bank (PMC) officials and ot ... read..


Moody's downgrades Indiabulls after RBI's merger rejection
| Tuesday, 2019 1:45:05 AM IST
Global credit rating agency Moody's has downgraded the corporate family rating (CFR) and the foreign-currency senior secured rating of Indiabulls Housing Finance Limited to B2 from Ba2, after the Reserve Bank of India rejected its proposed merger with Lak ... read..


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