Business

The annual returns form in which businesses registered under the GST have to provide consolidated details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal was notified in September.

The Directorate General of Civil Aviation said Indian airlines operating the MAX aircraft have not experienced any major issue and its advisory is an interim measure until there is more clarity from Boeing.

The repo rate and cash reserve ratio (CRR) currently stand at 6.5 percent and 4 percent, respectively.

Forex dealers said fresh demand for the American currency from importers amid rise in crude prices weighed on the domestic unit. Besides, investors were treading the cautious path ahead of the RBI policy decision.

The banks have recognised the bulk of legacy problem loans and will start making recoveries from large non-performing loans that have been resolved.

The 30-share index was trading 181.52 points, or 0.50 per cent, higher at 36,375.82 at 0945 hrs.

Subramanian, who quit the post earlier this year, said in the six quarters before demonetisation, growth averaged 8 per cent and in the seven quarters after, it averaged about 6.8 per cent.

The new rates ranging from 5 to 10 bps are applicable for deposits below Rs 1 crore and are effective immediately, the bank said on its website.

In South Asia, India led the average real wage growth in 2008-17 at 5.5 against a regional median of 3.7. Following India was Nepal (4.7), Sri Lanka (4), Bangladesh (3.4), Pakistan (1.8) and Iran (0.4).

On the macro front, the rupee depreciated 15 paise to 71.02 against the US dollar in early trade at the interbank foreign exchange.

He had also served as Chairman and Managing Director of Bank of Baroda and Bank of Maharashtra.

Apple, which became the first $1-trillion US company in August, came down to $746.8 billion on Friday, owing to lower-than-expected iPhone sales amid reports of its suppliers cutting cost and workforce.

The 30-share Sensex opened higher at 35,282.33 points and advanced further to the day's high of 35,364.50 on the back of fresh buying by domestic investors amid further strength in the rupee.

The stock soared 7.19 per cent to end at Rs 205.05 a piece on the BSE, its biggest gain in almost three weeks. During the day, it jumped 7.68 per cent to Rs 206.

The finance ministry nominees and some independent directors were expected to take on Urjit Patel and his team over issues ranging from MSME credit to the central bank's reserves, though both sides are in favour of reaching a common ground.

Noting that RBI's credibility would be shaken if Patel resigns, Chairman of the Parliamentary Standing Committee on Finance Veerappa Moily said the entire world economy looks up to any central bank of any country and the markets would also be affected.