Loss-making Bharat Sanchar Nigam Ltd (BSNL), which is looking at a `74,000-crore government bailout, is in fact losing its existing contracts and that too from PSU firms.

The company has lost an annual contract worth around `400 crore for maintaining the fibre laid under the government’s ambitious BharatNet project to provide broadband connectivity to over 2.5 lakh gram panchayats, as its performance was not found to be up to mark.

It appears that DTH service providers are making hay under the Telecom Regulatory Authority of India (TRAI)’s new tariff regime. Fully implemented on March 31, 2019, the order entails that customers migrate to the new tariff packs, a move aimed at giving them the freedom of choice to pay only for what they watch.

Finance minister Nirmala Sitharaman is scheduled to meet chiefs of public sector banks (PSBs) on Monday to review the credit growth in various sectors of the economy.

The meeting is likely to set priority areas for the banking sector in the coming months for accelerating the gross domestic product (GDP) growth.

Competition Commission of India (CCI) has dismissed a complaint against Oil & Natural Gas Commission (ONGC) which alleged the state-owned oil explorer of abusing its dominant position in relation to certain contractual provisions while hiring of offshore support vessels.

The rupee tumbled a whopping 94 paise to 70.54 against the US dollar in the early deals on Monday amid weak global cues and continued outflow of foreign funds. The domestic currency had opened at 70.14, which was its lowest level since May 17.

On Friday, it had dived 54 paise to close at an over six-week low of 69.60 as soaring crude oil prices and a fresh flare up in US-China trade tensions weighed on emerging market currencies.

The parched brown of the land in Charanka village in north-west Gujarat, around 50 km from India’s border with Pakistan, seemed endless. In peak summer, during one of the worst droughts to hit the region in 30 years, it seems devoid of all life--even doughty bush plants have lost most leaves. Cyclone Vayu, that hit the Gujarat coast in June 2019, did little to revive the district of Patan.

The Gujarat High Court has directed the authorities to pay interest for delay in paying GST refunds.

The authorities were asked to pay the interest at the rate of nine per cent per annum.

Benchmark indices managed to close in the green despite heavy selling by the foreign portfolio investors on Friday due to buying support provided by the domestic institutional investors.

The Sensex closed at 37118, higher by 99.90 points or 0.27 per cent while the broader Nifty-50 closed higher by 17 points at 10997 in a volatile trading session. The Nifty witnessed a 150 points recovery from the lows of 10848 while the Sensex recovered nearly 500 points from the lows of 36607.

Mumbai: A SEBI working group has proposed a host of changes to make Portfolio Management Services (PMS) in India, more transparent and investor friendly.

Key changes include increasing the minimum investment in PMS from ₹25 lakh to ₹50 lakh, standardizing reporting requirement and moving distributors from upfront to trail model.

New Delhi: Hyundai Motor India Ltd - country’s second largest vehicle manufacturer- has taken over Maruti Suzuki India Ltd as the leading manufacturer of utility vehicles in the July, as a result of the overwhelming response received for Venue, the South Korean company’s first compact sport utility vehicle.

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