Business

The government had earlier this month announced easing of overseas borrowing norms for manufacturing companies, removal of restrictions on foreign portfolio investors (FPI) investment in corporate bonds and tax benefits on Masala bonds to shore up rupee a...

The survey showed that 30% had reduced discretionary spending like leisure, travel, eating out, shopping, etc while another 8% said they will soon be reducing their expenses.

The Prime Minister cited this week's announcement of the merger of Dena Bank, Vijaya Bank and Bank of Baroda to create the country's third-largest lender and said the government would not shy away from taking tough decisions in national interest.

Mrutyunjay Mahapatra and Padmaja Chundru are among five deputy managing directors in State Bank of India who have been appointed as managing director and chief executive officer of Syndicate Bank and Indian Bank respectively.

The 30-share BSE index recovered by 142.26 points, or 0.38 per cent, to 37,432.93 in opening trade.

The NSE Nifty hit a low of 11,366.90 and finally ended 137.45 points, or 1.19 per cent, down at 11,377.75.

Gamal and Alaa Mubarak are accused alongside three other people of failing to notify the stock market of agreements to acquire majorities in several banks through front companies.

Some shareholders, questioned the corporate governance practices and standards at the bank, while some rallied in support saying it is just a phase which shall pass.

The 30-share Sensex was up 133.29 points, or 0.35 per cent, at 37,546.42 with sectoral indices led by FMCG, power, IT, teck, infrastructure and PSU stocks trading in the positive zone.

The BSE barometer closed the day with a hefty fall of 509.04 points or 1.34 per cent at 37,413.13. This is the weakest closing since August 2 when it had ended at 37,165.16.

The rupee fell as much as 1.3 percent to a new record low of 72.66 against US dollar on Monday .

NCLAT has asked WalMart International Holdings Inc to file its reply before it by September 20, 2018.

A two-member bench of the NCLAT headed by Chairman Justice S J Mukhopadhaya directed lenders of the Essar Steel to expeditiously take a decision.

The tribunal also allowed both parties Shivinder Singh and his wife Aditi Singh and other party Malvinder Singh to inspect documents and take photocopies of the records of RHC Holdings.

The regulator has organised study tours to Japan's Financial Services Agency; the UK's Financial Conduct Authority, and Swiss Financial Market Supervisory Authority, "to study initial coin offerings and cryptocurrencies

Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that provides technology-enabled health, wealth, HR and finance solutions.