Business

The Reserve Bank has imposed fines on Union Bank, Dena Bank, IDBI and SBI.

According to a proposal, which will be first presented before the Sebi's board and then sent to the Finance Ministry, the Sebi Act needs to be amended to "enable Sebi to lay down a platform for a regulatory sandbox in India, which will enable adoption of...

The dispensation has been sought as these West-bound flights, which were earlier using the Pakistani airspace, will now have to be operated over the sea, entailing higher flying time than the regular routes, the source said.

Noting that reputation is an important factor for consideration of 'fit and proper' criteria, the watchdog said the reputation of the two entities have been seriously eroded.

Nine of Jet's planes have been grounded by lessors, versus the four it reported last month, with AerCap Holdings NV and BOC Aviation Ltd among those who have pulled out planes.

At the Interbank Foreign Exchange (forex) market, the domestic unit opened strong at 71.29 but gave up the gains to trade at 71.31.

TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.

Most of the flights have been cancelled from Kolkata, Hyderabad and Chennai and the passengers are allegedly being forced to buy last minute high fares for its flights.

Major losers were Infosys, TCS, Hero MotoCorp, HCL Tech, Bajaj Finance, Axis Bank, Bajaj Auto, IndusInd Bank and Maruti, falling up to 2.42 per cent.

The laggards were Hero MotoCorp, M&M, ONGC, Vedanta, Coal India, Yes Bank, L&T, ICICI Bank, Asian paint, Maruti Suzuki, Bajaj Auto, ITC, RIL, HUL, IndusBank, SBI, Axis Bank, PowerGrid and Sun Pharma, dropping up to 2.98 per cent.

The trust, part of the 'Tata Trusts' which collectively own 66 per cent of the over USD 100 billion Tata Sons, has been reportedly served an order withdrawing tax exemption in late December 2018 because of the high compensation.

India's modified foreign direct investment rules that kicked in on February 1, prevent companies such as Amazon from selling products from vendors where they, or their group companies, have equity holdings.

Startups will have to provide account details and return of income for last three years. Similarly, investors would also have to give their net worth details and return of income.

Hero Bharti Airtel, IndusInd Bank, Tata Motors, Vedanta and L&T were the losers, shedding up to 1.33 per cent.

Investigative media outlet Cobrapost had alleged last week that loans from Indian state banks were diverted by Dewan to shell companies, including those linked to its controlling shareholders.

The strengthening of the US dollar against some currencies overseas weighed on the local unit. However, easing crude prices and fresh foreign fund inflows capped the losses for the domestic unit.