Business

Stocks took some time out to catch their breath on Wednesday after the Sensex closed lower and the Nifty retreated from its life high amid caution ahead of US Federal Reserve's policy meeting outcome.

Forex dealers said that besides selling of the American currency by exporters and banks, weakness of the dollar against other currencies overseas also supported the rupee.

Continuing with its strong rally, the rupee edged up another 4 paise to a four-month high of 66.63 against the US dollar in early trade on Wednesday on increased selling of the American currency by banks and exporters.

Forex dealers said that apart from weakness in the dollar against other currencies overseas, robust foreign fund inflows and a higher opening in the domestic equity market supported the rupee.

Demonetisation impact on GDP may be seen in the current quarter in some segments, while the remonetisation exercise should be completed in 2-3 months, RBI Deputy Governor Viral V Acharya said on Monday.

After a gap of five years, State Bank of India has decided to reintroduce penalty on non-maintenance of minimum balance in accounts from April 1, and revised charges on other services, including ATMs.

Chief Economic Advisor Arvind Subramanian on Friday said Universal Basic Income (UBI), as proposed in the recent Economic Survey, can be put in place only after withdrawal of the existing welfare projects.

emonetisation has significantly impacted credit demand and deposit growth of banks but had a mixed effect on asset quality in the third quarter of current fiscal, Moody's Investors Service said on Thursday.

The rupee strengthened by 5 paise to 66.91 against the dollar in early trade on Thursday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market.

The Sensex rose 28 points to end at 28,892.97 on Thursday after early gains were undone by a sell-off amid expiry of derivatives contracts.

For the first time, global tech giants Google and Microsoft have agreed to tighten up their search engines as part of a crackdown on piracy sites illegally streaming events and films.

Reliance Jio will top competitors’ best tariff plans with 20% more data when its free offer ends on April 1, pressing ahead with its strategy of aggressive pricing-led market disruption that has helped the hitherto free 4G mobile service sign up a record...

Tata veteran N Chandrasekaran on took over as the chairman of Tata Sons, promising to deliver "industry leading" performance in all its businesses.

Shares of SBI and its associates rose sharply by as much as 13.5 percent on Thursday after the Cabinet approved their merger, a step aimed at strengthening the sector through consolidation of public banks.

Gurnani maintained that for the industry, digital revenue is growing at 1.5 times faster and now constitutes 14 percent of the total revenue stream.

The wholesale inflation for food articles declined by (-)0.56 per cent during the month under review from (-)0.70 per cent in December and 6.46 per cent recorded for January, 2016.