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  Banking system has to be liberated from risk aversion: RBI

  August 25, 2020 16:15 IST

  The report noted that the deterioration in the macroeconomic and financial environment is impinging on asset quality, capital adequacy and profitability of banks.

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  Markets end with modest gains; financial stocks extend rally

  August 25, 2020 16:12 IST

  Equity benchmarks Sensex and Nifty closed in the green for the third straight session on Tuesday, propelled by financial stocks amid firm global cues. 

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  Businesses with annual turnover of up to Rs 40 lakh are now exempted from GST: Finance Ministry

  August 25, 2020 15:44 IST

  The Ministry of Finance on Monday said that businesses with an annual turnover of up to Rs 40 lakhs are exempt from GST and those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only one per cent tax.  

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  RBI announces special OMO of purchase, sale of govt securities worth Rs 20,000 crore

  August 25, 2020 10:57 IST

  The Reserve Bank of India (RBI) on Tuesday announced that it will again conduct simultaneous purchase and sale of government securities under the open market operation (OMO) for Rs 20,000 crore in two tranches of Rs 10,000 crore each. The auctions will be conducted on August 27 and September 3.

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  Lupin gets USFDA nod for asthmatic symptoms prevention drug

  August 25, 2020 10:37 IST

  Drug major Lupin on Tuesday said it has received approval from the US health regulator for its Albuterol Sulfate Inhalation Aerosol, used for the treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms. 

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  Fuel Rate Today: Petrol price rise for 6th consecutive day, crude also up

  August 25, 2020 10:31 IST

  Petrol prices have been on the rise for the sixth consecutive day on Tuesday, while diesel held on to its price line that it has maintained since July 30.

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  Soon mobile services may cost you more, Airtel boss recommends relook at internet charges

  August 25, 2020 9:06 IST

  Bharti Airtel founder and Chairman Sunil Bharti Mittal on Monday hinted at an increase in mobile services rates while stating that the average revenue per user is expected to cross Rs 200 in the next six months. He said 16 GB data consumption a month for Rs 160 is a tragedy.

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  Delhi HC seeks Centre, RBI response over plea against Google Pay

  August 25, 2020 8:10 IST

  The Delhi High Court on Monday sought the response of the Central government, the Reserve Bank of India (RBI) and others on a petition seeking action against UPI payment app Google Pay for allegedly violating RBI guidelines related to data localisation, storage and sharing norms.

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  Govt, RBI need to share cost of maintaining UPI infrastructure: Report

  August 24, 2020 22:28 IST

  The report further said UPI as a digital payments platform increases efficiency towards tax compliance, and provides overall convenience for public good.

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  Sensex surges 364 points; financial stocks lead rally

  August 24, 2020 16:04 IST

  Domestic equity benchmark Sensex rallied 364 points on Monday, driven by strong buying in financial counters amid a positive trend in global equities and sustained foreign fund inflows. 

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  Paytm grabs 50% share in merchant payments space: Report

  August 24, 2020 13:44 IST

  Paytm has grabbed 50 per cent share in the payments to merchants (P2M) segment in India and the financial services platform has emerged as the most integrated payments provider in the fintech space, a new report said on Monday.

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  Maruti XL6 drives past 25,000-unit sales mark, helps company cement position in MPV segment

  August 24, 2020 13:02 IST

  Maruti Suzuki India (MSI) on Monday said its multi-purpose vehicle (MPV) XL6 has crossed the 25,000-unit sales milestone in a year of its launch and helped the company take a leadership position in the segment. 

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  GST reduced tax rates, doubled taxpayer base to 1.24 crore

  August 24, 2020 12:57 IST

  In a series of tweets, on the first death anniversary of former Finance Minister Arun Jaitley, the ministry said before goods and services tax (GST), the combination of value-added tax (VAT), excise, sales tax and their cascading effect resulted in high standard rate of tax up to 31 per cent.

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  Sensex rises over 200 points in early trade; bank stocks take charge

  August 24, 2020 10:36 IST

  The BSE benchmark Sensex jumped over 200 points in early trade on Monday, led by gains in financial stocks amid firm cues from global markets. The BSE index was trading 201.64 points or 0.52 per cent higher at 38,636.36; while the NSE Nifty was up 65.05 points or 0.57 per cent at 11,436.65.

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  India's banking sector needs to grow for becoming $5 trillion economy: CEA

  August 24, 2020 8:35 IST

  The government's Chief Economic Adviser K.V. Subramanian on Sunday said that India's banking system is proportionately smaller than the size of the economy and it needs to grow for the country to become a $5 trillion economy.

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  SBI, PNB, BoB may go for share sale this fiscal

  August 23, 2020 17:46 IST

  Qualified Institutional Placement (QIP) would be the most preferred way and public sector banks are likely to take a call on taking this route after finalisation of their second quarter results, merchant banking sources said.

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  Petrol prices rise by 12-14 paise/litre

  August 23, 2020 11:43 IST

  In Delhi and Mumbai, price of the fuel increased by 14 paise to Rs 81.49 and Rs 88.16 per litre respectively on Sunday. 

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  Here's how EPFO is taking BIG steps to make things easier for its subscribers

  August 23, 2020 10:46 IST

  The Employee Provident Fund Organisation (EPFO) has made significant progress in Updating KYC of its Subscribers During July 2020 despite the coronavirus pandemic. In a big success that is likely to make things easier for people availing employee provident fund services, the EPFO has updated 2.39 Lakh Aadhaar Nos, 4.28 Lakh Mobile numbers & 5.26 Lakh Bank Accounts in the UAN of its subscribers.

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  SBI loan fraud: MP-based company booked

  August 22, 2020 23:02 IST

  The factory and registered office of the company in Morena, residences of Garg and another director Saurabh Garg and its office at Barakhamba Road, New Delhi were searched by the agency on Friday, they said.

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  Coming Soon: 8,100-km undersea optical cable connecting India-Singapore. NEC-OLL ink deal

  August 22, 2020 20:26 IST

  A 8,100-km long submarine optical submarine cable project will connect Singapore, Malaysia, Myanmar, Thailand and India (Mumbai and Chennai) to build MIST Cable System (Myanmar/Malaysia India Singapore Transit).

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  ICICI Lombard to buy Bharti AXA General Insurance

  August 22, 2020 11:52 IST

  The board of ICICI Lombard General Insurance "at its meeting held on August 21, 2020, considered and approved a 'scheme of arrangement' amongst Bharti AXA General Insurance (demerged company) and former company and their respective shareholders and creditors", the ICICI Bank promoted non-life insurer said in a late night filing on Friday.

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  Petrol prices hiked 6 times in a week

  August 22, 2020 11:26 IST

  Petrol prices were revised on August 16 after a long pause. Since, then there has been a consistent increase in petrol rates.

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  Anand Mahindra, Shantanu Narayen to receive 2020 Leadership Awards from USISPF

  August 22, 2020 8:49 IST

  The week-long programme, which will conclude on September 3, will include a range of strategic discussions between USISPF's board members, which include 21 Fortune 500 CEOs, and senior government officials from both the countries.

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  Railways cancels tender for 44 Vande Bharat trains after Chinese firm emerged as contender

  August 22, 2020 0:05 IST

  Indian Railways on Friday cancelled the tender for the manufacturing of 44 rakes of Train 18, which has been re-christened as Vande Bharat Express and said a fresh tender will be floated within a week’s time focusing on Make in India.

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  Thiruvananthapuram airport PPP row: Kerala govt moves HC seeking stay on privatisation

  August 21, 2020 23:24 IST

  Seeking stay on further proceedings in leasing out Thiruvananthapuram international airport to Adani Enterprises, the Kerala government on Friday moved the High Court.

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  Khadi Essentials, Khadi Global served legal notice by KVIC for 'fraudulently' using their brand name

  August 21, 2020 22:42 IST

  The Khadi and Village Industries Commission (KVIC) has issued legal notices to two firms - Khadi Essentials and Khadi Global - stating that they are "unauthorisedly" and "fraudulently" using the brand name "Khadi", said the Ministry of Micro, Small & Medium Enterprises.

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  Facebook will continue to remove content violating its standards, says India Head amid political row

  August 21, 2020 21:58 IST

  Facebook on Friday said it is a non-partisan platform and will continue to remove content posted by public figures in India that are in violation of its standards, amid allegations that the social media giant did not apply hate speech rules for posts by certain politicians.

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  Yes Bank to exit mutual fund business; inks agreement for sale of subsidiaries

  August 21, 2020 17:39 IST

  Yes Bank on Friday said it will exit mutual fund business by selling its holdings in asset management and trustee subsidiaries.