Business

India's real GDP growth is expected to slow to 6.5 percent in the current fiscal on the likely impact of demonetisation, while muted inflation may open room for additional rate cuts, says a Deutsche Bank report.

Four other proposals which were rejected included that of Harris Communications Systems lndia Pvt Ltd, Schoeller Technologies lndia Pvt Ltd and Barracuda Camouflage Pvt Ltd.

The RBI was spotted intervening in the foreign exchange market after the rupee fell to as low as 68.8350 per dollar on Thursday.

Yes Bank said MDR has been waived for all debit card transactions across RuPay, MasterCard and Visa platforms at all merchant locations, including online transactions upto December 30.

Telecom operators will make short code messages used for banking services free till December 31, a move aimed at fueling cashless transactions following the government move to scrap high value notes of Rs 1000/500.

The Indian equity markets plunged to their lowest levels in the last six months on Monday with the benchmark Sensex receding below the 26,000-point mark and the NSE Nifty crashing below the 8,000 level.

The cooperative banks, which have deeper networks, are facing a lot of flak for being non-operational which has caused difficulties for their customers looking to exchange the now invalid notes for legal ones.

The 30-scrip Sensitive Index (Sensex) was trading 39.05 points or 0.15 per cent lower during the early session.

Minister of State for Finance Arjun Ram Meghwal on Wednesday said that it was also necessary to present the Budget early as the implementation date of the Goods and Services Tax (GST) has been fixed at April 1, 2017.

Wholesale retailer Metro Cash & Carry is working on tie-ups with digital wallet companies to offer mobile payment option to small traders and kirana shop owners, in the wake of demonetisation of Rs 500 and Rs 1,000 notes in the country.

In another move to check illegal sale of gold after demonetisation of high-value notes, excise officials have summoned details of sale of the yellow metal and ornaments from over 600 jewellers across 25 cities.

Finance Minister Arun Jaitley said that the Reserve Bank of India has taken steps to ensure that banks are able to deal with the rush of people depositing the worthless currency notes.

The rupee strengthened by 9 paise to quote at fresh two-month high of 66.34 against the US dollar in early trade today on increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.

Union Finance Minister Arun Jaitley said on Wednesday that the old currency notes of Rs 500 and Rs 1,000, which are no longer the legal tender, will be fully replaced with the new currency notes in the coming three-four weeks.

Gold prices breached the Rs 30,000 per 10 grams mark by climbing Rs 1,025 per 10 grams in futures trade today amid a firm global trend.

Sensex staged a strong comeback to end with a gain of nearly 185 points, reversing its five-session losing run and tracking rebound in global market on Monday after prospects of Hillary Clinton brightened in the US presidential race following an FBI repri...