Category: BUSINESS

In Mumbai, petrol prices stand at Rs. 107.66 per litre after seeing a drop of 17 paise, while diesel rates fell 20 paise to Rs. 96.64 per litre. Delhi saw a 20 paise drop in both petrol and diesel prices standing at Rs. 101.64 per litre and Rs. 89.07 per litre, respectively.The state-owned oil marketing companies (OMCs) on Sunday marginally reduced fuel prices across India. As per the notification from the Indian Oil Corporation (IOC), petrol and diesel rates were lowered by up to 20 paise. Earlier this week, oil…

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Infosys had designed the new portal, which was found to have several technical issues after it started service on June 7. The finance ministry has summoned Infosys chief Salil Parekh tomorrow to explain the continuing glitches in the new income tax e-filing portal. Union Finance Minister  Nirmala Sitharaman had expressed concern over the issue in June. Mr Parekh and senior executive Praveen Rao were asked to work on the portal to make it “more humane and user-friendly”, the finance ministry had said. “Ministry of Finance has summoned Sh Salil Parekh,MD&CEO…

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Arvind Fashions Ltd (AFL), India’s leading casual and denim manufacturer, on Saturday said it has raised Rs 439 crore from various marquee investors including promoters by issuing equity shares of the company. This will “significantly strengthen” the balance sheet and allow the business to pursue its growth strategy while insulating it from any COVID related uncertainties, AFL said in a statement. “The Board of Directors of AFL at its meeting held today (Saturday) approved the preferential allotment of equity shares aggregating to Rs 439 crore to various marquee investors including…

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Goa Chief Minister Pramod Sawant has said his government will put forth before the Centre the demand of industry bodies here to resume international chartered flights to the coastal state from October this year. The Goa Chamber of Commerce and Industry (GCCI) and the Travel and Tourism Association of Goa (TTAG) submitted a memorandum to the CM on Tuesday, seeking the resumption of chartered flights to provide a boost to the tourism sector, which is reeling under the adverse impact of the COVID-19 pandemic and subsequent curbs. While domestic tourists…

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 The Reserve Bank on Wednesday came out with revised guidelines for the hiring of lockers under which the liability of banks will be limited to 100 times its annual rent in case of fire, theft, building collapse or frauds by bank employees. As per the revised guidelines, which shall come into effect from January 1, 2022, banks will be required to incorporate a clause in the locker agreement prohibiting the hirer from keeping anything illegal or hazardous in lockers. The RBI said it has reviewed the ‘Deposit Locker/Safe Custody Article…

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Future Coupons has asked the top court to stop the attachment of assets of Future Coupons, Future Retail and Kishore Biyani, challenging a single-judge ruling of the Delhi High Court. Days after a setback in the Supreme Court that ruled in favour of its discordant partner Amazon, the Future Group has approached the Supreme Court against the seizure of assets belonging to the company and its founder Kishore Biyani. Future Coupons has asked the top court to stop the attachment of assets of Future Coupons, Future Retail and Kishore Biyani,…

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Markets this week would be guided by the ongoing quarterly earnings, macroeconomic data announcements and global trends, analysts said. The government will release industrial production data for June and inflation data for July this week. The RBI has revised its retail inflation forecast to 5.7 per cent, up from the earlier 5.1 per cent due to price pressure on account of supply constraints and high crude oil prices. With the ebbing of the second COVID wave, the RBI has retained its GDP growth forecast for the current fiscal year ending…

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