India will auction 69 small and marginal oil and gas fields surrendered by state explorers, oil minister Dharmendra Pradhan said on Wednesday, expecting private companies to boost output from the areas that hold resources of more than $10 billion.
Why were SBI and ICICI Bank declared systemically important by RBI? Primarily because of their size.
Markets opened in the green on Wednesday a day after the government decided to waive Minimum Alternate Taxes on capital gains made by foreign institutional investors retrospectively.
The rupee appreciated by 8 paise to 66.14 against the US dollar in early trade on increased selling of the American currency by exporters and banks.
A quarter of the Air India's Boeing 787 co-pilots, trained at a cost of Rs 15 crore, are eyeing jobs as commanders. The state-owned airline operator is surviving on a bailout funded by the taxpayer.
Shanghai led a broad Asian equities sell-off Wednesday, plunging more than 4%, as further evidence of slowing in China's economy brought a new bout of volatility to global markets.
The latest economic growth numbers for the first quarter of the current fiscal year released on Monday have puzzled analysts. They see three closely inter-related problems.
After Tuesday’s sell-off, the markets look set for more losses ahead, with analysts raising red flags over muted private sector investments and declining exports, and foreign brokerages cutting their growth forecasts.
Finance minister Arun Jaitley had in his Budget for 2015-16 exempted FIIs from the levy from April 1. FIIs had argued that MAT is applicable only to domestic companies that had their base in India. By virtue of not being established in India, they should be "exempted".
Manufacturing sector grew at a slower pace in August as order flow turned sluggish and forced the companies to cut prices, a business survey showed on Tuesday, adding to the clamour for interest rate cut by RBI.
ATF or jet fuel price was slashed by a steep 11.7% on Tuesday, while rates of non-subsidised cooking gas LPG were reduced by Rs 25.5 per cylinder in line with dip in international prices.
Gold prices rose by Rs 175 to Rs 26,857 per 10 gram in futures trade after speculators widened positions amid a better trend overseas.
Indian market lost ground on Tuesday again as the benchmark BSE Sensex plummeted 587 points to close at over one-year low of 25,696.44 on intensified selling triggered by weak domestic and global macroeconomic data.
The rupee recovered by 10 paise to 66.38 against the US dollar in early trade Tuesday on increased selling of the American currency by exporters.
If the preferred yardstick is growth in gross value-added, growth has perked up sharply from 6.1% in Jan-Mar to 7.1% in the April-June quarter.