Business

India is estimated to require around $1 trillion over five years to overhaul its infrastructure sector, including ports, airports and highways to boost growth.

Forex traders said participants bet against the dollar ahead of talks between Greece and Eurozone on bailout terms.

The airline said the pilot project has been kicked off on select flights from Bengaluru to Mumbai and New Delhi from February 12.

The Sensex gained 0.48 per cent to 29,462.27 points, while the Nifty ended 0.3 per cent higher at 8,895.30 points.

Geneva's public prosecutor searched the premises of HSBC Holdings PLC (HSBA.L) in Geneva and said it had opened a criminal inquiry into allegations of aggravated money laundering.

"These currency notes are legal tender as provided in the Coinage Act 2011," the Reserve Bank of India said in release.

Market experts peg their current valuation at upwards of $2.2 billion, after taking into account the appreciation in their values.

"We still have concerns over inflation. So, given the deflationary environment elsewhere, it is actually easier for us because we are not fighting inflation in an environment where inflation is picking up elsewhere," the RBI Governor said.

Domestic markets on Monday hit over one-week lows with benchmark Sensex falling nearly 61 points to 29,122.27 and Nifty slipping 11.50 points to 8,797.40 on caution ahead of the RBI policy review on Tuesday.

The benchmark Sensex on Friday hit new high of 29,844.16 but succumbed to heavy profit-booking led by banking shares to fall by 498.82 points to 29,182.95, logging its worst drop in three weeks, even as the government's mega share sale in Coal India saile...

"If there is a cloud-funding, if there is P2P lending today, then what is the role of banks? What they would be expected to do? Probably banks will have to reinvent themselves to maintain their relevance in the world of finance," Mundra said.

Facebook Inc's revenue grew 49 per cent in the fourth quarter, as mobile advertising growth helped the world's largest Internet social network beat Wall Street's targets for earnings and sales.

The sale of a stake in India's largest oil refiner could help New Delhi raise more than $1 billion.

After resuming the day higher on positive global cues, the 30-share Sensex jumped further to set a life-time high of 28,958.10 as consumer durables, tech and IT shares attracted good buying support.

India's national carrier Air India is to cut its costs by 14 billion rupees ($227 million), or about 6 percent of its total outlays, in the next financial year after the government asked the loss-making airline to improve its finances.

WPI inflation rose marginally to 0.1 per cent in December but the data was discounted by the participants, traders said.