Bengaluru: Taxi aggregator Ola on Monday announced its “Mission: Electric”, with a commitment to place 10,000 e-rickshaws and electric auto-rickshaws in its service in the next 12 months. The company will develop “Mission: Electric” as a platform to bring one million electric vehicles (EVs) on the road by 2021. “Three-wheelers are a vital means of […]
Business
Demonetisation was ‘not a good idea’: Raghuram Rajan
New York: RBI’s former governor Raghuram Rajan has said that he had made it quite clear to the government that the demonetisation was “not a good idea” and that its implementation was “not well-planned” since 87.5 percent of the currency was being demonetised. On November 8, 2016, the Centre banned Rs 500 and Rs 1,000 […]
Rupee Softens 5 Paise Against Dollar, Hits Fresh 5-month Low
Mumbai: The rupee shed 5 paise to hit a fresh five-month low of 65.36 against the US dollar in eaon Thursday following increased demand for the American currency from banks and importers.Investors are cautious ahead of consumer price inflation data due later in the day.Moreover, the US dollar’s gains against some currencies overseas, on surging […]
India To Grow 7.3 Per Cent This Fiscal, Fastest Across Asia: Asian Development Bank
New Delhi India’s economic growth will rise to 7.3 per cent this fiscal and further to 7.6 per cent in the next financial year, retaining the fastest-growing Asian economy tag, on back of GST and banking reforms. The economy grew 6.6 per cent in the last fiscal as it battled the lingering effects of demonetisation […]
Sensex rises over 100 pts on firm global cues, Nifty tops 10,400
Benchmark BSE Sensex advanced over 130 points on Tuesday, continuing its rising streak for the fourth straight day, on firm global leads after Chinese President Xi Jinping’s speech eased worries over a trade war. The 30-share Sensex was trading higher by 130.31 points, or 0.38 per cent, at 33,918.85, with all the sectoral indices rising […]
Meru Cabs to turn to corporate clients to shore up revenues
New Delhi: Taxi operator Meru Cabs plans to focus more on corporate clients in order to shore up its revenue as the B2C segment is already hogged by two heavily-funded players – Ola and Uber. According to a report in the Economic Times, Meru Cab is looking to double down on its B2B offering, which […]
Shares end higher as US-China trade worries abate
Domestic stock market advanced, tracking positive global cues, helped by what appeared to be a pause in the ongoing trade skirmish between the US and China, the world’s two biggest economies. The barometer index, the S&P BSE Sensex, rose 161.57 points or 0.48% to 33,788.54, as per the provisional closing data. The Nifty 50 index rose 47.75 points or 0.46% to 10,379.35, […]
Foreign travel ban on Deepak Kochhar, Dhoot as CBI probes ICICI-Videocon loan
New Delhi Immigration authorities have put a bar on Videocon Group promoter Venugopal Dhoot and Deepak Kochhar, husband of ICICI Bank managing director and chief executive officer Chanda Kochhar, from leaving the country by issuing a so-called lookout circular (LoC) against them. Both of them have been named in the preliminary enquiry (PE) registered by […]
India asks Hong Kong to arrest jeweller Nirav Modi in PNB fraud case
New Delhi India has asked authorities in Hong Kong to arrest jeweller Nirav Modi, one of the main suspects in a $2-billion fraud at state-run Punjab National Bank, the government said, suggesting it believes the fugitive is in the Chinese territory. The whereabouts of Modi and his uncle Mehul Choksi, the other person accused in […]
Bitcoin Ban: Banks Given 3 Months To Stop Dealing In Digital Tokens
Clamping down on virtual currencies such as bitcoin, the Reserve Bank of India (RBI) on Thursday announced to ring fence banks and financial institutions from dealing in them. In its first policy statement of fiscal year 2018-19, the central bank highlighted that the banks should stop dealing with the entities that deal in digital currencies, such […]