Business

The move to reassure investors comes after the bank's stock this week plunged nearly 23 percent to its lowest close in over a decade, as fraud allegations against a housing finance company that Yes Bank has exposure to, spooked investors.

With muted industrial activity and slowing overall economic growth, the RBI has little option but to incentivise spending.

A probe found the 41 entities entered into various trades in the nature of synchronised trades, reversal trades and off-market transactions which created misleading appearance of trading.

The eight core sector industries — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — has been recorded at minus 0.5% against 4.7 per cent in August last year.

Opening on a flat note, the Sensex was gripped by volatility as the trade progressed and dived 310.80 points or 0.80 points to trade at 38,511.77 in early deals.

The ex-RBI governor also said dwelling on historical achievements and opposing foreign ideas or foreigners reflects great insecurity and may hamper economic development.

The IPO comprises an offer for sale of 20 million shares, representing 12.5% of total paid-up equity, by the ministry of railways.

Retailers can stock onion only up to 100 quintals and wholesale traders are allowed to keep up to 500 quintals, the Consumer Affairs Ministry said.

The resolution to sell the London property has been approved by the requisite majority of shareholders, stated a BSE filing by the company.

The ADB had projected India's economy to expand at 7.2 per cent in its ADO for 2019-20 released earlier in April this year and cut it down to 7 per cent in the supplement to the ADO in July.

Travellers frantically scoured mobile phones or quizzed officials for information as they waited in long queues in airports around Europe and beyond.

Experts said that while today’s announcement was one of the biggest reforms for the struggling Indian economy, the IT sector does not stand to benefit much from it as IT companies are more dependent on overseas business.

The government slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

RBI governor Shaktikanta Das also welcomed the tax cut, and said that it's a bold step and highly positive for economy.

The stake sale has reduced Rana Kapoor’s shareholding in Yes Bank to 7.4%. Earlier, Kapoor and his two family-owned companies, MCPL and Yes Capital, held 9.65% stake in the lender, with MCPL alone holding 2.76%.

Amazon announced its 'Climate Pledge' initiative and said it would be its first signatory as part of an effort to reduce emissions in line with a 2050 goal for carbon neutrality set by the Paris agreement.