In a setback to incumbent mobile operators, Telecom Regulatory Authority of India (Trai) has rejected the government's demand of a re-look at lowering of the reserve price of spectrum, especially 5G.

In its letter to DoT on Monday, Trai said the department has misconstrued this quote -- "Due to competition, concerns have been expressed about the financial health of the sector, its revenue growth and the capability of companies to meet contractual commitments" as Trai recommendation.

SBI Caps, one of the top investment banks in the country, is under the radar of Central Bureau of Investigation for its role in arranging loans for oil business of Sandesara Group. CBI's Banking and Securities Fraud Cell may call SBI Caps team for inquiry, sources said.

The rupee on Tuesday opened one paisa higher at 68.65 against the US dollar amid subdued Asian equities and soft crude oil prices.

The domestic unit on Monday declined by 24 paise to close at 68.66, cutting short its three winning run due to a massive selloff in equities and weakening expectations of a rate cut by the US Federal Reserve in near future.

The 20th anniversary of the Kargil War was celebrated in a grand manner by the Indian Army with a commemorative trek to Khalubar.

Army said that the year 2019 witnesses the 20th anniversary of the Kargil War and this important milestone was celebrated in a grand manner by the Indian Army with a view to rekindle the pride and valour of all the gallant soldiers who took part in Operation Vijay.

The US House of Representative will vote Tuesday on a legislation that seeks to lift the country-cap on issuing green cards.

Being supported by more than 310 lawmakers from both the Republican and the Democratic Party, the Fairness for High-Skilled Immigrants Act is all set to sail through the 435-member House of Representative.

MUMBAI: Shares of Punjab National Bank (PNB) slumped over 7% on Monday after the lender was hit by yet another fraud, this time by Bhushan Power & Steel Ltd.

At 9.30 am, the stock was at ₹75.80 on BSE, down 5.57% from its previous close. It opened at ₹76.30 and touched a low of ₹75.80 or 7.3% lower. So far this year the stock fell 1.9%.

Gold prices in India were marginally higher today but sharply off their record highs hit on Friday. On MCX, August gold futures were trading marginally higher at ₹34,608. On Friday, gold futures hit a record high of ₹35,100, before paring some gains. In Budget 2019, which was presented on Friday, Finance Minister Nirmala Sitharaman increased import duty on gold to 12.5%, from 10%, leading to a spike in domestic gold prices.

LEEDS, England: India's run-machine Rohit Sharma shared the secret of his red-hot form in the Cricket World Cup on Saturday, saying he approaches every match as if it was his first.

Sharma became the first player to smash five centuries in a World Cup after his 103 against Sri Lanka at Headingley to consolidate his position as this tournament's leading scorer.

Asian shares fell on Monday after strong US jobs data tempered expectations for a Fed rate cut, while the Turkish lira hovered near two-week lows on worries about central bank independence. Share sentiment was also dampened by US investment bank Morgan Stanley’s decision to reduce its exposure to global equities due to misgivings about the ability of policy easings to offset weaker economic data.

Assuring that all the numbers mentioned in the Budget are realistic and achievable, Finance Minister Nirmala Sitharaman said as a government minister she is duty bound to follow glide path to achieve fiscal deficit target of 3% as per the law.

In the Budget presented on Friday, the government lowered the fiscal deficit target to 3.3% of the GDP for 2019-20 as compared to 3.4% projected in the interim Budget in February.

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