Category: BUSINESS

Airlines operating in the Indian market have been coming up with discounted flight tickets regularly to attract flyers. Carriers including Jet Airways, AirAsia India and GoAir have launched limited-period schemes, offering discounts on flight tickets on select routes. Jet Airways is offering up to 20 per cent off on Premiere and Economy class flight tickets across its network in a limited-period offer. AirAsia India has announced new direct daily flights to and from Nagpur and Indore, for which it is offering tickets starting at Rs. 1,999 under a promotional scheme. AirAsia India is also offering tickets starting…

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The State Bank of India (SBI), country’s largest public sector lender, on Tuesday stated that it will start selling the much talked about electoral bonds from 1 March, 2018. The electoral bonds or bearer banking instruments were announced by the government in order to put a ceiling on political funding and also prevent seeping of black money into election time fundings. The government’s electoral bonds scheme has been introduced for donors to pick up their own political parties.Finance Minister Arun Jaitley had earlier said any individual who is citizen of…

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Niche bike maker Royal Enfield today launched a new range of its popular model Thunderbird — Thunderbird 500X and Thunderbird 350X — priced at Rs 1,98,878 and Rs 1,56,849 (ex-showroom Delhi), respectively. Powered by a single cylinder, air cooled 499 cc engine, the Thunderbird 500X generates 41.3 Nm torque at 4000 rpm. Thunderbird 350X, on the other hand, comes with a single cylinder, air cooled, twinspark, 346cc engine which generates a maximum torque of 28 Nm at 4000 rpm. “The key selling point is that these are thunderbirds with a…

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Gold prices tumbled by Rs 460 to Rs 31,390 per 10 grams at the bullion market today, snapping their four-day rising streak due to subdued global cues amid slump in local jewellers’ demand. Silver also fell by Rs 250 to Rs 39,300 per kg owing to reduced offtake by industrial units and coin makers. Traders said, sentiment was downbeat as the precious metal fell in global markets, because the dollar held recent highs after Federal Reserve Chairman Jerome Powell vowed to prevent the economy from overheating while sticking with gradual…

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India’s stock market has witnessed a compounded annual growth rate (CAGR) of 13 per cent over the last four years, since Prime Minister Narendra Modi assumed office, which demonstrates that investing in the country makes business sense, Commerce & Industry Minister Suresh Prabhu said today. The minister made the remarks in presence of the Prime Minister, who presided over the inaugural session of India-Korea Business Summit here. “The stock market in the last 4 years, ever since the Prime Minister has taken over the leadership, has grown by 13 per…

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Shares of Punjab National Bank today slumped as much as 9 per cent to hit their 52-week low level in morning trade on bourses after the lender said the amount of fraudulent transactions could be as much as Rs 12,700 crore. Shares of the company opened weak at Rs 107.80, then cracked 8.75 per cent to a 52-week low of Rs 102.10 on the BSE. Similar movement was seen on the NSE too, where the stock opened at Rs 106.80, then fell to its 52-week low of Rs 102, down…

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The benchmark BSE Sensex rose over 134 points today on sustained buying in key frontline counters led by metal, auto, capital goods and banking stocks. Sentiments bolstered in all Asian markets following positive cues from Wall Street. Also, continued buying by domestic institutional investors (DIIs) and strengthening rupee boosted market mood, brokers said. The BSE Sensex rose 133.78 points, or 0.39 per cent, to 34,275.93. All sectoral indices were trading higher, led by metals, auto, capital goods and banking stocks that gained up to 1.34 per cent. The gauge had…

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The rupee strengthened by 6 paise to 64.67 against the dollar at the forex market today on fresh selling of the American currency by exporters and banks amid strength in domestic equities. Dealers said dollar’s weakness against other currencies overseas and early gains in domestic equity markets supported the rupee. On Friday, the rupee had gained 31 paise to end at 64.73 against the US dollar. The dollar eased after climbing Friday on the back of the comments from the US Fed cementing expectations of more aggressive US rate hikes…

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State Bank of India (SBI) is set for a major restructuring of its business in the UK from April, India s largest state-owned bank has said. SBI’s UK operations will transform into a subsidiary named State Bank of India UK Limited from April 1, in compliance with wider ring-fencing of capital requirements by the Bank of England. The move will mean that all retail branches of SBI in the UK will fall under a new UK-incorporated banking entity instead of their previous status as overseas branches of the Indian entity.…

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Finance Minister Arun Jaitley today slammed regulators for failing to detect the Rs 11,400-crore fraud at Punjab National Bank for seven long years, saying unlike politicians, regulators in the Indian system are unaccountable. Speaking on the scam for the second time this week, he said employees conniving with fraudsters is worrisome. Also worrisome is that no red flag was raised. Regulators should have a “third eye” open to detect and check such frauds. Speaking at the ET Global Business Summit, he said the industry needs to get into the habit…

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