Business

The nation's largest lender, State Bank had on July 31 slashed the pricing for under Rs 1 crore saving deposits by 0.50 per cent to 3.5 per cent.

The Allahabad bench of NCLT has admitted the petition filed by IDBI Bank under Section 7 of Insolvency and Bankruptcy Code 2016, Jaypee Infratech said in a regulatory filing.

Rajiv Kumar has also served as an economic adviser in the Finance Ministry and as an independent director in the Reserve Bank of India.

Net profit rose to 3.43 billion rupees ($53.51 million) for its fiscal first quarter ended June 30, from 3.06 billion rupees a year earlier, the New Delhi-based bank said on Wednesday.

It was the first time the reading has dropped below the 50 mark that separates growth from contraction since December and was its lowest reading since February 2009.

When contacted, a Snapdeal spokesperson said: "No formal communication has been shared with shareholders and no board vote has happened on a proposed deal".

Snapdeal had bought digital wallet firm Freecharge for $400 million in 2015. Amazon and rival payment platform PayTm had also made late bids.

Stocks of ITC suffered the most by falling 11.90 per cent to Rs 287 after the GST Council hiked cess on cigarettes on Monday.

On Monday, the local currency staged a strong recovery by gaining 10 paise to close at 64.35 on fresh one-month high on bouts of dollar unwinding by exporters.

Sebi, which has been probing PwC for a long time and was asked by the Supreme Court in January to expedite the matter, held a series of hearings with the auditing major and its officials during May-June this year.

A total of 50 companies got listed with initial public offers (IPOs) worth Rs 660 crore in the first six months of the year as compared to 27 firms which tapped the IPO route to garner Rs 211 crore in January-June 2016.

India's population will grow from 1.3 billion to 1.5 billion, an increase of almost 150 million. India will overtake China and is projected to be the most populous country in the world by 2026.

Shaktikanta Das, the former Secretary of the Economic Affairs Department in the Finance Ministry is someone who was closely involved with the formulation of the GST, right from the years when Pranab Mukherjee was the Finance Minister.

With just a few hours to go for the launch of the historic Goods and Services Tax, hotels and restaurants in the country say they’re ready, hopeful that the seminars, training sessions conducted over the last couple of months would come in handy to ensure...

A planned $15 billion safety overhaul of India’s ageing rail network is facing delays as the country's state steel company is unable to meet demand for new rails, according to two government documents seen by Reuters.

India's greatest tax reform - replacing an array of provincial duties with a nationwide goods and services tax - is transforming the logistics industry in a country where moving stuff around is notoriously difficult to do, executives say.