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The COVID-19 active caseload remained below two lakh for the 14th consecutive day.
With this lending rate reduction, the bank has lowered 40 bps so far this fiscal year in five successive rate cuts beginning April.
While Reliance Jio added 3.65 million users in May, both Bharti Airtel and Vodafone Idea continued to lose subscribers.
Coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
'The China opportunity, the digital opportunity and the end of geography opportunity are the three pieces of luck India got due to Covid.'
Bajaj Auto has amended its dividend distribution policy as it seeks to reward its shareholders and boost return ratios. The amended policy will also consider the surplus the company has when calculating the dividend payout as a percentage of profits after tax, the Pune-based firm said in a stock exchange filing on Thursday.
Jewellers across the country will go on a 'token strike' on August 23 against the "arbitrary implementation" of mandatory hallmarking of gold jewellery, All India Gem and Jewellery Domestic Council (GJC) said on Friday. The strike will be supported by 350 associations and federations from all four zones of the entire gems and jewellery industry, the GJC claimed. Mandatory gold hallmarking has come into force from June 16 in a phased manner. The government has identified 256 districts from 28 states and union territories for the phase-1 implementation.
India's services sector activity expanded at a slower pace in December as rates of growth in sales eased to a three-month low and staff hiring came to a halt amid weak business optimism, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell from 53.7 in November to 52.3 in December. The index was above the critical 50 mark that separates growth from contraction for the third month in a row during December, but pointed to the slowest pace of expansion in the three-month sequence.
Every year Indians consume about 22 million tonnes of lentils
His 24-run cameo against Pakistan was worth its weight in gold and Yuvraj Singh said that his "focus was on right things" while batting in front of the vociferous capacity crowd at the Eden Gardens.
Bandhan Bank is expecting that a little less than 50 per cent of its portfolio will be dominated by affordable housing loans in the next three to five years.
As per the assessment done by the RBI, the gross NPA of the SBI was 11,932 crore more at Rs 1,84,682 as against Rs 1,72,750 reported by the bank. As a result the bank has to make additional provisioning of Rs 12,036 crore in the balance sheet.
For the fifth day in a row, the active cases of COVID-19 remained below 9 lakh.
All eyes were as India as it celebrated its 69h Republic Day on Friday with the 10 ASEAN leaders as chief guests. The mood was upbeat across the country. Rediff.com brings you glimpses of the celebrations.
What happened in India in the week gone by? Here's the top stories that captured India's attention in the week gone by.
SBI said revision of saving bank rate will enable the bank to maintain MCLR based lending rate at existing rates.
'...for at least 6 months and give them peace of mind to get back on their feet.' 'Entrepreneurs are suffocating and not able to run their companies peacefully.'
The Supreme Court on Monday refused to entertain a plea from the BJP seeking a direction to the West Bengal government, state election panel and other functionaries to prepare a comprehensive action plan and deploy sufficient central police forces to ensure free and fair municipal polls in Kolkata.
As many as seven of eight core industries saw a contraction in output in September.
The severity of the second wave of COVID-19 infections in India poses a key challenge for the FMCG industry and the spread of the virus to rural areas on a relatively higher scale as compared to the first wave is also expected to weigh on industry growth outlook, according to ITC Ltd. There is heightened uncertainty around the timing and shape of the recovery trajectory of overall economic growth in India due to the virus, the company said in its Annual Report for 2020-21. In terms of consumption, urban-led recovery may be relatively muted compared to the first wave as consumers switch to precautionary savings mode and rising healthcare costs eat into household spending, while rural demand may also be blunted by the large-scale spread of the virus to the hinterland in the second wave.
Sale of diesel, the most consumed fuel in the country, fell 12 per cent, while petrol sales fell 7.4 per cent year-on-year to 2.38 million tonnes although it rose 5.3 per cent from 2.26 million tonnes in July as commuters preferred driving to using public transportation.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
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India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
"I am very happy and proud of his achievements. I am yet to speak to him. I think he must be sleeping as it's still night in the United States," she said.
Production of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity contracted. The record contraction in the growth rate of eight core sectors will affect the Index of Industrial Production.
In the show-cause notice, Trai said it is of the view that the claim of VIL for providing priority 4G network with faster data speeds is not in compliance with the extant regulatory framework.
The government has decided to observe January 23 as 'Parakram Diwas' to commemorate the birth anniversary of Netaji Subhas Chandra Bose, Union minister Prahlad Singh Patel said on Tuesday.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
Images from India's practice session at the Eden Gardens, ahead of the third and final T20 against South Africa.
The army rescue teams have been operating throughout the night along with the teams from civil defence, police and the NDRF, trying to remove the debris from the affected area.
Total revenue came in at Rs 20,422 crore for the September quarter, which was 6.2 per cent lower than Rs 21,777 crore notched in the year-ago period.
BSNL is providing telecom services in remote parts of the country and maintaining 17,000 to 18,000 exchanges, incurring Rs 3,000 to Rs 4,000 crore losses every year. Otherwise, these villages will be cut off.
Diversified group ITC will sell its entire stake in US-based wholly owned subsidiary 'King Maker Marketing' for USD 24 million (about Rs 160 crore).
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
Items such as cereals and products, meat and fish, oils and fats became cheaper
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
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