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08/16/2018 08:36 PM
RBI governor Urjit Patel unveils UPI 2.0 version
The second version of the Unified Payments Interface (UPI) will also enable customers to check the invoice sent by merchant prior to making payment, National Payments Corporation of India (NPCI) said in a statement.
08/16/2018 08:21 PM
TCS overtakes RIL to become most valued Indian company
"Looking at the market scenario at the moment, with the increase of dollar, which is even expected to rise further, the cost incurred in mobile handsets will increase and this will lead to an overall hike in the final cost of the handsets," Intex Technologies (India) Director Nidhi Markanday said.
08/16/2018 07:24 PM
Consumer durable makers mull pre-festive price hike amid rupee fall
"The rupee crossing 70 per dollar is putting a lot of pressure on us in terms of input costs. We are evaluating the impact on us, and if it remains like this, we would have to go for a price hike in the near future," Godrej Appliances Business Head and Executive VP Kamal Nandi said.
08/16/2018 03:27 PM
Mercedes-Benz to hike prices by up to 4% next month
The rising inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, Mercedes-Benz India said in a statement.
08/16/2018 03:26 PM
Maruti Suzuki hikes prices of cars across models
The price change is being undertaken, “owing to increase in commodity and distribution costs and adverse foreign exchange rates,” a company representative said. The price increase will vary across models and is up to Rs 6,100 (ex-showroom Delhi). The new prices are effective immediately.
08/16/2018 01:51 PM
India's oil import bill to jump by $26 billion on rupee woes
India's crude oil import bill is likely to jump by about $26 billion in 2018-19 as rupee dropping to a record low has made buying of oil from overseas costlier, government officials said on Thursday. Besides, the rupee hitting a record low of 70.
08/16/2018 01:50 PM
India Ratings cuts growth forecast to 7.2% from 7.4%
“The key reason for this is the upward revision in the estimation of inflation for FY19 due to increasing crude prices and the goverment's decision to fix the minimum support prices of all kharif crops at 1.5 times of the production cost,” India Ratings (IndiaRa) said in a statement.
08/16/2018 01:16 PM
Walmart India activates UPI on its B2B e-commerce platform
This payment solution will enable members, especially kiranas/resellers, who shop online at Walmart India's B2B e-commerce site www.bestprice.in, to make direct and secured payments online from their bank account without sharing bank details, the global retail giant said in a press release on Thursday.
08/16/2018 10:17 AM
China, US to hold talks to cool trade conflict
A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will hold talks with US representatives led by Under Secretary of Treasury for International Affairs David Malpass, the Ministry of Commerce said in a statement on its website.
08/16/2018 10:08 AM
Sensex, Nifty see losses in early trade
The 30-share BSE Sensex opened under 37,800-mark, losing more than 50 points. The index extended its loss to 200 points in early trade. At 10 am, the gauge was down 66.15 points and had regained the 37,800-mark.
08/16/2018 09:20 AM
Rupee hits new low of 70.32 in opening trade
Money markets across the world have been hit hard with investors wary of spread of the currency rout in Turkish lira. Emerging markets like India, Russia, South Africa and China have been significantly affected
08/16/2018 06:38 AM
Govt looks for more influence on RBI board
After appointing S Gurumurthy and Satish Marate on the board of the Reserve Bank of India (RBI), the government is looking at a firmer influence over the central bank’s apex decision-making body by nominating individuals who argue its case better.
08/16/2018 04:00 AM
Q1 data shows worst may be over for PSU banks
Public sector unit (PSU) banks seem to have put the worst behind them. The combined loss of all state-owned lenders has shrunk 74% to Rs 16,614 crore for the quarter ended June 2018 (Q1FY19) as compared to Rs 62,681 crore in the preceding quarter of January-March (Q4FY18).
08/15/2018 05:57 AM
Startup deals hit $2.4bn in July, like high of 2015
The current investment figures are substantially higher than the deals made during July in 2016 and 2017, which saw $878 million and $1.5 billion being committed respectively, data from research firm Venture Intelligence showed.