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Rupee rises 8 paise to 69.38 vs $ in early trade
Posted on 10th June 2019
The rupee appreciated by 8 paise to 69.38 against the US dollar in opening trade Monday, driven higher opening in domestic equities.

Forex dealers said, the local currency also gained strength amid weakening of the greenback in overseas markets.

However, rising crude oil prices and sustained foreign fund inflows weighed on the domestic currency and restricted the upmove.

The rupee opened at 69.40 at the interbank forex market then gained further ground and touched 69.38 amid a positive opening in domestic equities, displaying gains of 8 paise over its last close.

The rupee Friday had settled at 69.46 to the US dollar.

Meanwhile, the 10-year government bond yield was at 7.01 per cent on Monday, against previous close of 6.97 per cent on Friday.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out ₹ 478.84 crore on a net basis Friday, provisional exchange data showed.

Brent crude futures, the global oil benchmark, rose 0.51 per cent to $63.61 per barrel.

Meanwhile, the benchmark BSE Sensex was trading higher by 268.04 points, or 0.68 % to quote at 39,885.74 while the NSE Nifty was trading at 11,943.10, higher by 72.45 points, or 0.61 %.


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Trump offers to mediate on Kashmir, India rejects
Posted on 23rd July 2019
As US President Donald Trump on Monday offered to mediate between India and Pakistan on the Kashmir issue after meeting Pakistan Prime Minister Imran Khan at the White House for the first time, India rejected POTUS offer.

Trump said he is ready to help, if the two countries ask.


18 pc GST on flat owners paying monthly maintenance of over Rs 7,500
Posted on 23rd July 2019
New Delhi: Flat owners will have to pay GST at 18 per cent if their monthly contribution to resident welfare association (RWA) exceeds Rs 7,500, the Finance Ministry said Monday.

As per the rules, RWAs are required to collect GST on monthly subscription/contribution charged from its members if such payment is more than Rs 7,500 per flat per month and the annual turnover of RWA by way of supply of services and goods exceeds Rs 20 lakhs.


Sensex drops over 100 points, bank stocks drag
Posted on 23rd July 2019
Domestic equity benchmark BSE Sensex fell below the 38,000 mark, shedding nearly 100 points in early trade, on July 23 amid heavy foreign fund outflow and weak domestic cues.

The 30-share index was trading 103.50 points or 0.27% lower at 37,927.63 at 0930 hours; and the broader Nifty also fell 28.50 points or 1.25 per cent to 11,317.70.


Air India plans to bring all 17 grounded aircraft back into operation by October-end, says Ashwani Lohani
Posted on 23rd July 2019
Air India is planning to bring all of its 17 aircraft, which have been grounded for a “prolonged” period, back into operation by October-end, its chief Ashwani Lohani has said.

These 17 aircraft have been grounded for time periods ranging from four months to one year due to lack of funds for their repair and maintenance.


Paytm ramps up instant loans for MSMEs, self employed; partners with Clix
Posted on 23rd July 2019
Vijay Shekhar Sharma’s Paytm has ramped up its loans operations and has partnered with Clix Finance India Pvt. Ltd. to provide loans to MSMEs and self-employed people, it announced in a statement on Tuesday. Clix, a digital lending NBFC, and Paytm will now offer instant digital loans to both the customers and merchants of Paytm. The company targets “new-to-credit, self-employed, small and micro enterprises and small borrowers,” who are largely underserved and face difficulties to get loans, the digital commerce company said.

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