The Times Of India Business
RBI extends current a/c rules implementation deadline to Oct 31
The Reserve Bank on Wednesday allowed time to banks till October 31 to implement changes on the current account front, following reports of small businesses being hit with account freezes in the last few days.
Chip shortage to see waiting list get longer for Maruti’s Dzire, Swift and Baleno
Supplies of Maruti Suzuki’s popular models such as the Dzire mini sedan and hatchbacks Swift and Baleno will be impacted as the global semiconductor shortage will mean reduced production at Suzuki’s Gujarat plant which makes the cars.
Eye on UP polls, PM Modi to launch Ujjwala next week
Prime minister Narendra Modi is likely to launch on August 10 the second edition of ‘Ujjwala’, his government’s marquee social welfare programme for giving poor households access to clean cooking fuel, months ahead of the crucial UP assembly polls.
Adi Godrej to step down from GCPL board next month
Veteran industrialist and Godrej Group chairman Adi Godrej will step down from the board of Godrej Consumer Products Ltd (GCPL) next month. After stepping down from the board with effect from September 30, he will remain as Chairman Emeritus of the FMCG firm, according to a statement issued on Wednesday.
AI accumulated losses of about Rs 70,820cr till Mar 31, 2020: Govt
Air India has been suffering heavy losses since its merger with Indian Airlines in 2007 and it has accumulated losses of about Rs 70,820 crore till March 31, 2020, minister of state for civil aviation V K Singh said on Wednesday.
Sensex jumps 546 points; Nifty settles above 16,250: Top reasons behind surge
Equity indices claimed record peaks for the second consecutive day on Wednesday with the benchmark BSE sensex breaching the 54,000-mark for the first time ever led by banking and financial stocks. Rising for the third straight session, the BSE index jumped 546 points or 1.02 per cent to finish at fresh peak of 54,370; while the broader NSE Nifty settled 128 points or 0.79 per cent higher at record of 16,258.
RBI cautions against offers of buying or selling old notes
The RBI has cautioned the public from falling prey to offers of buying or selling of old bank notes and coins. In a statement, the Reserve Bank said that certain elements are fraudulently using the name and logo of the RBI, and seeking charges, commission and tax from public, in transactions related to buying and selling of old banknotes and coins through various online and offline platforms.
Vodafone Idea shares continue to tumble, plunge 17%
Vodafone Idea shares continued to fall on Wednesday as Aditya Birla Group chairman Kumar Mangalam Birla offered to hand over his stake in the debt-ridden company to government entities in a bid to keep the company operational.
ED arrests Gautam Thapar in money laundering case
The Enforcement Directorate has arrested businessman and Avantha Group of companies promoter Gautam Thapar in connection with a money laundering case, officials said on Wednesdays. Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night here after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said.
India's services activity shrank again in July, outlook turned pessimistic
Activity in India's dominant services industry shrank for a third consecutive month in July as restrictions to control the coronavirus pandemic hit demand, with companies turning the most pessimistic in a year, a private survey showed on Wednesday.
MG to fix software in 14,000 Hector SUVs
The CoP is a means of evidencing the ability to produce a series of products that exactly match the specification, performance and other requirements outlined in the type approval documentation. The company in India has so far sold over 60,000 MG Hectors since launch. These comprise of BS4 and BS6 versions.
Government mulls moratorium on spectrum payment
The government is considering a lifeline for telecom companies through a moratorium on the mandated spectrum payments as part of a fresh set of measures to bolster the health of telcos. This comes at a time when Vodafone Idea, which is facing acute financial stress, has sent an SoS to the government, citing possible impact on its 27 crore subscribers.