Business

SBI chairman Rajnish Kumar said the bank has a Rs 29,000 crore exposure to the telecom sector and another up to Rs 14,000 crore in non-fund based exposure which will devolve only if there is a non-payment of dues.

After inaugurating a five-day exhibition to showcase the vast cultural heritage of the airline built over the years, an emotional Ashwani Lohani told reporters that the airline is still a great organisation.

Indian employees' optimism level was followed by two other Asian nations — Indonesia and China – and was far higher than that in some of the world’s top job markets such as the United States, Canada and the United Kingdom.

SBI Cards is likely to raise up to Rs 6,000 crore through the IPO, but no official confirmation has been made regarding the size of the issue.

Finance Minister Amit Mitra proposed new subsidies and schemes for all sections, including free electricity for consumers with quarterly consumption of up to 75 units, and waived agricultural income tax for tea garden workers.

She said the Banking Trend Report published by the Reserve Bank of India (RBI) in December observed that the health of the banking sector hinges on a turnaround in macroeconomic conditions.

In his Budget speech, state Finance Minister Amit Mitra announced free electricity for consumers with quarterly consumption up to 75 units and also a scheme to build houses for all permanent tea garden workers.

For steel making, fines can be used through beneficiation and pelletisation, and SAIL does not has enough beneficiation and pelletisation capacity. So, it is not possible for it to consume these low grade fines/ores for its steel plants.

In representations to PM Modi and FM Nirmala Sitharaman, the CII suggested offences which are of a technical nature or those that do not affect public interest prejudicially should be considered for decriminalisation.

Commerce and Industry Minister Piyush Goyal said that currently, crude palm oil is freely importable while refined palm oil has been put under the restricted category.

On the Sensex chart, IndusInd bank, M&M, Reliance Industries, Tata Steel and Bharti Airtel emerged as the top losers.

Following the failure of a number of cooperative banks, the budget allowed the Deposit Insurance and Credit Guarantee Corporation to raise deposit insurance coverage to Rs 5 lakh from Rs 1 lakh.

The Supreme Court in October upheld the demand raised by the government from telecom operators to pay levies on the revenues earned by them.

The proposed law seeks to enforce banking regulation guidelines of the RBI in cooperative banks, while administrative issues will still be guided by Registrar of Cooperative, Prakash Javadekar said.

Titan reported a 12.9% year-on-year growth in standalone net profit for the December quarter on the back of better-than-expected operating performance.

Once operationalised, India would be the only "third or fourth" country to have such a tax administration, CBDT chairman Pramod Chandra Mody said.