Business

Gujarat Milk Marketing Federation Limited (GCMMF), which sells its products under Amul brand, on Saturday defended its TV commercial for ice cream and accused HUL of resorting to "stunt to pressurise and frighten" it.

Union Finance Minister Arun Jaitley has said that his ministry and the Reserve Bank of India (RBI) have taken a major policy decision on dealing with the non-performing assets of Indian banks. An announcement is expected in a few days.

"Board of directors of the bank has approved the proposal for preferential issue of capital to government and other financial institutions, if any aggregating up to Rs 2,500 crore," IDBI Bank said in an exchange filing.

The Union Cabinet may approve bills to supplement the Goods and Services Tax (GST) legislation on Monday.

The Department-related Parliamentary Standing Committee on Transport, Tourism and Culture has made the recommendation in its report tabled in the Parliament today. The report is on the Demand for Grants (2017-18) of the Ministry of Civil Aviation.

After the US Federal Reserve hiked its benchmark interest rate a quarter point for the second time in three months, the Indian equity markets reacted positively and the key indices opened higher on Thursday.

The Federal Reserve has raised its benchmark interest rate for the second time in three months and forecast two additional hikes this year.

"To deal with the Non-Performing Assets (NPAs) or bad loans of the banks is a challenging task even though they have shown declining trend in the last quarter of the current financial year," Jaitley said at the first meeting of the Consultative Committee...

The BJP's thumping victory in Uttar Pradesh and substantial gains made in other states will facilitate reforms as the ruling party inches closer to a majority in Upper House, Moody's Investors Service said on Wednesday.

A day after it surged to a 16-month high on higher expectations of bold reforms, the rupee made a positive start -- though muted -- by rising 9 paise to 65.73 against the dollar on Wednesday, backed by foreign inflows.

India's annual rate of inflation based on wholesale prices rose to over a three-year high of 6.55 percent in February owing to costlier food and fuel, from 5.25 percent in the previous month, even as February's retail inflation also climbed over the previ...

The rupee on Friday made a resounding comeback after a brief overnight pause and ended 11 paise higher at a fresh 4-month high of 66.60 against the dollar on renewed selling of the US currency by exporters and banks.

Prime Minister Narendra Modi on Tuesday said his government has been able to tame inflation which had gone out of control before 2014 and no political party could raise the issue during the polls in five states.

On Friday, the rupee had lost 11 paise to 66.81 against the US dollar on fresh demand for the American greenback from banks and importers.

The 30-share Sensex slumped further by 88.05 points, or 0.30 per cent, to 28,751.74 with FMCG, IT, technology, power, bank, auto and capital goods stocks declining by up to 0.83 per cent.

The rupee had gained 2 paise to close at 66.69 in an extremely thin and lethargic trade yesterday owing to stray dollar selling form banks and exporters.