Business

Managing director of Muthoot Finance George Alexander Muthoot staged a 'sit-in', alleging that people from outside were creating trouble in his company 'without any reason.'

The mergers announced on Friday, together with two set consolidations done last year, will reduce the number of public sector banks to 12 from 27 in 2017.

The merger of Allahabad Bank with Chennai-based Indian Bank will create India’s seventh-largest public sector bank with Rs 8.08 lakh crore business and strong branch networks in the south, north and east of the country.

Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 lakh crore.

The Navi Mumbai airport, once commissioned, will initially have passenger handling capacity 10 mpa (million passengers per annum), which will be later scaled up to 20 mpa.

The announcement formed part of the government's mega plan to merge 10 public sector banks into four with a view to creating fewer and stronger global-sized lenders with robust balance sheets.

An order issued by the Central Board of Direct Taxes (CBDT) said the 'Startup Cell' will be headed by the member (Income Tax and Computerisation) of the Board.

Stating that aggregate demand has "weakened" more than anticipated, the report by RBI says domestic demand is at the "core" of factors that "ails the animal spirits" in the economy.

Gold was firm in global markets on possible recession fears. Gold was trading at USD 1,539 an ounce in New York after hitting a high of USD 1,550 an ounce. Silver was up 1.15 per cent at USD 18.63 an ounce.

In a notice to shareholders, the firm said its 5th annual general meeting in 2017 had granted authority to the board of directors of the company to borrow money up to Rs 10,000 crore.

Commerce and industry minister Piyush Goyal said the changes were meant to liberalise and simplify the FDI policy to provide ease of doing business in the country, bring larger FDI inflows and contribute to the growth of investment, income, and employment...

Coffee Day Enterprises had sought extension of the annual general meeting which was scheduled for September 30, 2019, as per a regulatory filing.

India has been demanding that China open its pharmaceutical market to Indian drugs as part of the efforts to lower the $57 billion trade deficit in about $95.5 billion total trade last year.

Apart from Tata Motors, the other major gainers from the auto space included Ashok Leyland (up 6%), Motherson Sumi Systems (up 4%), Apollo Tyres (up 3.6%) and Eicher Motors (up 3.2%), among others.

At 10:54 am, the Infosys stock was trading at Rs 784.10, down 2.3%, after hitting an intra-day low of Rs 781.10. Infosys shares have returned over 13% to investors in the last one year.

In the 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on taxable income between Rs 2 crore and Rs 5 crore, and from 15 per cent to 37 per cent for income above Rs 5 crore.