Business

India’s July factory output grows at 4.3%

New Delhi,  India’s factory output growth rate accelerated in July by 4.3 per cent from a rise of 1.17 per cent reported for June, official data showed on Thursday. However, on a year-on-year (YoY) basis, July 2019 factory output growth …

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Auto stocks resume slide, Sensex ends 167 pts lower

Mumbai,  Indian markets fell on Thursday ahead of the key macro data such as IIP (index of industrial production) numbers for July and retail inflation (CPI) print for August due later in the day. Nifty auto index declined by 1.81 …

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Telecom sector success by imports but time to change: Goyal

New Delhi,  Commerce Minister Piyush Goyal on Thursday attributed the telecom revolution in the country to imports but stressed the need to start building up capacities to replace them with domestic products, while weeding out undesirable imports. Goyal was addressing …

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New SBI service charges to roll-out from October 1

Mumbai,  The State Bank of India will revise service charges for deposits and withdrawal on October 1 which will encompass cash withdrawal, average monthly balance, deposits and withdrawals and will affect scores of customers in many ways. On maintenance of …

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Nifty Realty index close 4% higher over possible sops

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Mumbai,  Listed real estate companies were back in favour on the streets amid expectation of big-ticket reform announcements by Finance Minister Nirmala Sitharaman later in the week. The Nifty Realty index jumped over 4 per cent after Minister of State, …

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FinMin in consultation with states on Auto GST: Gadkari

New Delhi, Union Minister Nitin Gadkari on Wednesday said the Centre is in consultation with the state governments and will take a call on whether or not to reduce GST rate on automobiles. However, the final decision to reduce the …

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NBFCs pulling back on loans to MSMEs: Moody’s

Mumbai,  The liquidity crisis triggered after the default of IL&FS is causing the non-banking financial and housing finance companies to pull back on loans to micro, small and medium sized enterprises (MSMEs), Moody’s said on Wednesday. “The value of loan …

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After JioFiber, Airtel launches 1Gbps broadband plan

New Delhi,  In a direct challenge to JioFiber, telecom major Bharti Airtel on Wednesday launched its ultra-fast broadband offering, Airtel Xstream Fibre, at Rs 3,999. The announcement comes barely a week after Reliance Jio commercially rolled out its fiber-to-the-home (FTTH) …

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SBI reduces MCLR, fixed deposit rates

Mumbai,  The State Bank of India (SBI) here on Monday announced reduction in the marginal cost of lending rate (MCLR), the fifth in FY20, for loans across tenors. The country’s largest bank will reduce interest rates by 10 basis points …

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Paytm clocks up over 1.2 bn merchant transactions in Q1

New Delhi,  Digital payments major Paytm on Monday said that it has processed over 1.2 billion merchant payments in this fiscal’s first quarter, apart from P2P and money transfer transactions, enabling it to maintain its leading position in offline payments. …

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