The rupee on Wednesday opened 4 paise lower at 71.52 against the US dollar amid rise in crude oil prices. The domestic unit on Tuesday spurted by 54 paise, its biggest single-day gain in more than five months, to close at a one-week high of 71.48 against the US dollar, boosted by positive sentiment over the fiscal situation.

NEW DELHI : Fares of two Tejas Express trains to be run by railway subsidiary IRCTC will be 50% less than that of flights on same routes, sources said Tuesday.

The Indian Railway Tourism and Catering Corporation (IRCTC), the railways' tourism and catering arm, has been given the "flexibility" to fix the fares of the Delhi-Lucknow Tejas Express and the Ahmedabad-Mumbai Central Tejas Express as a test case ahead of railways' plans to rope in private players in the running of certain trains.

New Delhi: Insurance regulator Irdai has set up a single point contact for its regulatory sandbox (RS) initiative, wherein financial technology firms can seek permission to experiment with innovative approaches for the growth of the sector.

Regulatory sandbox (RS) usually refers to live testing of new products or services in a controlled/test regulatory environment for which regulators may (or may not) permit certain relaxations for the limited purpose of the testing.

The State Bank Tuesday said it is well-capitalised and that it may not require any fresh funds from the government this financial year. On Friday, finance minister Nirmala Sitharaman had announced an immediate infusion of Rs 70,000 crore into state-run banks to boost liquidity and their lending capacity by Rs 5 trillion.

The government had planned a staggered infusion earlier, but the rising tide of bad news on the economy forced its hand to open the purse-strings earlier. “For SBI, we are not looking at any recapitalisation right now as we are well-capitalised as we have been able to raise from markets.

Indian solar cell and module makers are ready to increase their manufacturing capacity to the tune of 8-15 Gw annually, but want the government to offer them demand surety and restrict Chinese imports.

In a letter to the ministry of new & renewable energy (MNRE), the manufacturing industry is confident that the Centre will provide them supply exclusivity for KUSUM scheme and several projects of central public sector companies.

Hindustan Petroleum Corp Ltd is seeking more petrol after having purchased more than 120,000 tonnes of the fuel for September to early October delivery from the spot market to plug a supply gap, industry sources said on Tuesday.

The state-owned refiner has been actively seeking petrol from the spot market this year as Indian refiners undergo maintenance and upgradation to produce cleaner fuels.

The ongoing trade war between United States of America and China will not have any impact on Indian export which is just below 2 per cent of the global trade, Chief Economic Advisor Krishnamurthy Subramanian said on Monday.

Speaking to reporters on the sidelines of a programme here, he said the slew of measures announced by the Centre for the revival of muted growth in the economy was in the right direction, though it was necessary to focus on the ‘structural reforms.’

Mumbai: Domestic equity benchmark BSE Sensex opened over 150 points higher on Tuesday led by gains in index heavyweights L&T, ICICI Bank, SBI and HDFC Bank amid positive domestic and global cues.

The 30-share index was trading 123.95 points, or 0.33 per cent, up at 37,618.07 at 0930 hours, while the broader Nifty rose 43.45 points, or 0.39 per cent, to 11,101.30 in early trade.

The Reserve Bank of India (RBI) on Monday decided to transfer Rs 1.76 lakh crore in dividend and surplus reserve to the government.

This follows the RBI board accepting the recommendation of a high-level panel headed by its former governor Bimal Jalan on transfer of excess reserves to the government.

Chandrayaan-2 has captured some more images of the moon showing several craters, the Indian Space Research Organisation (ISRO) said. Sharing the pictures, ISRO said in a statement that the photos captured by the lunar spacecraft are those of craters Somerfeld, Kirkwood, Jackson, Mach, Korolev, Mitra, Plaskett, Rozhdestvenskiy and Hermite.

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