Business

Should bitcoins be banned, regulated or subjected to self-regulation? The government has sought comments on this question from the public for deciding the viability or other wise of Virtual currencies (VC) or bitcoins.

A proposal in this regard, which was mooted by the Ministry of Skill Development and Entrepreneurship, has been accepted by the HRD Ministry

The rupee made a tepid start on Wednesday by recovering a mere 3 paise to 64.05 against the dollar. Banks and exporters got into fresh selling of the US currency, which lost ground overseas too.

In a survey conducted during March and April 2017, FICCI predicted India's GDP growth will be around 7.4 per cent for fiscal 2017-18.

An amendment to the Banking Regulation Act will create an environment that will make it possible for banks to address some of the stressed assets, Finance Secretary Ashok Lavasa has said.

The benchmark BSE Sensex rallied about 160 points to trade above the key 30,000-mark in opening trade today, buoyed by forecast of a normal monsoon this year amid positive global cues.

Meanwhile, private lender Lakshmi Vilas Bank also lowered the base rate or the minimum lending rate by 25 basis points.

India's largest lender SBI on Monday announced a steep reduction of 25 basis points in affordable housing loans to 8.35 per cent for new borrowers.

However, the dollar's recovery against some currencies overseas on a strong US jobs report restricted the rupee's rise.

Automobile company General Motors India on Thursday said that it will accept new applications for a separation scheme from employees who have been impacted by the decision to cease manufacturing at the company's Halol plant in Gujarat.

BSE benchmark Sensex recouped over 134 points to trade above the 30,000-mark in early trade on Tuesday on the back of widespread gains triggered by encouraging corporate earnings.

India and Cyprus on Friday signed four agreements, including on air services and merchant shipping, following delegation-level talks headed by Prime Minister Narendra Modi and Cypriot President Nicos Anastasiades in New Delhi.

Cash-rich coal, power and oil PSUs will jointly invest about Rs 30,000 crore to revive four mothballed fertiliser plants by 2020-21 to make India self-sufficient in urea production and cut imports.

This apart, a firming trend in other Asian markets, taking strong cues from the US and European markets following Emmanuel Macron's first round presidential election win in France, boosted trading sentiments

Meanwhile, the benchmark BSE Sensex rose 97.06 points, or 0.33 per cent, at 29,462.36 in early trade today.

Dealers said a firm dollar against some global currencies overseas also weighed on the rupee but a higher opening of the domestic equity market capped the fall.