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    Arun Jaitley's push for MSMEs: Rs 1 crore loan in 59 minutes

    Arun Jaitley's push for MSMEs: Rs 1 crore loan in 59 minutes


    A web portal (www.psbloansin59minutes.com) will enable in principle approval for MSME loans up to Rs 1 crore within 59 minutes from SIDBI (Small Industries Development Bank of India) and 5 public sector banks...

    A web portal (www.psbloansin59minutes.com) will enable in principle approval for MSME loans up to Rs 1 crore within 59 minutes from SIDBI (Small Industries Development Bank of India) and 5 public sector banks (PSBs)
    Postmortem easier than action: Jaitley hits out at Rajan

    Postmortem easier than action: Jaitley hits out at Rajan


    Rajan, who had as the chief economist at IMF warned of impending financial crisis of 2008, in a note to a parliamentary committee warned against ambitious credit targets and loan waivers, saying that they could be the sources of next banking...

    Rajan, who had as the chief economist at IMF warned of impending financial crisis of 2008, in a note to a parliamentary committee warned against ambitious credit targets and loan waivers, saying that they could be the sources of next banking crisis.
    Cabinet may consider converting GSTN to govt entity

    Cabinet may consider converting GSTN to govt entity


    The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising state finance ministers, had in May agreed to a proposal to make GSTN a government company, with Centre owning 50 per cent stake and states together holding the remaining 50...

    The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising state finance ministers, had in May agreed to a proposal to make GSTN a government company, with Centre owning 50 per cent stake and states together holding the remaining 50 per cent.
    Bad loans declining as recoveries picking up: Jaitley

    Bad loans declining as recoveries picking up: Jaitley


    At the annual review meeting of the public sector banks, the finance minister added that the last several years have been challenging for the state-owned banks as large amount of lending was held up in...

    At the annual review meeting of the public sector banks, the finance minister added that the last several years have been challenging for the state-owned banks as large amount of lending was held up in NPAs.
    Flipkart acquires Israel's Upstream Commerce

    Flipkart acquires Israel's Upstream Commerce


    The buyout of Upstream Commerce, which offers cloud-based, automated competitive pricing and product analysis solutions, will also strengthen Flipkart's ability to deliver insights to its sellers, it...

    The buyout of Upstream Commerce, which offers cloud-based, automated competitive pricing and product analysis solutions, will also strengthen Flipkart's ability to deliver insights to its sellers, it added.
    Michael Kors ups the glamour, buys Versace for $2 billion

    Michael Kors ups the glamour, buys Versace for $2 billion


    Michael Kors Holdings Ltd, like others in the fashion industry, is trying to fire up sales by taking on big name brands like the globally revered Versace. The deal announced Tuesday follows the New York handbag maker's $1.35 billion acquisition last year...

    Michael Kors Holdings Ltd, like others in the fashion industry, is trying to fire up sales by taking on big name brands like the globally revered Versace. The deal announced Tuesday follows the New York handbag maker's $1.35 billion acquisition last year of the shoemaker Jimmy Choo.
    India's April-August fiscal deficit at 94.7% of full-year target

    India's April-August fiscal deficit at 94.7% of full-year target


    India expects to trim the deficit to 3.3 per cent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 per cent of GDP in...

    India expects to trim the deficit to 3.3 per cent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 per cent of GDP in 2017/18.
    Markets rise after steep 5-day fall, Sensex ends nearly 350 up

    Markets rise after steep 5-day fall, Sensex ends nearly 350 up


    On BSE, Kotak Mahindra, HDFC, Hindustan Unilever, Axis Bank and State Bank of India (SBI) were among the major gainers with their stocks rising as much as 3.10 per...

    On BSE, Kotak Mahindra, HDFC, Hindustan Unilever, Axis Bank and State Bank of India (SBI) were among the major gainers with their stocks rising as much as 3.10 per cent.
    Oil demand growth to slow down over next decades: RIL

    Oil demand growth to slow down over next decades: RIL


    India is pushing for intervention to support renewables, grid electrification, and the government is trying popularize natural gas and shared mobility, said Harish Mehta said during the Asia Pacific Petroleum Conference (APPEC) in...

    India is pushing for intervention to support renewables, grid electrification, and the government is trying popularize natural gas and shared mobility, said Harish Mehta said during the Asia Pacific Petroleum Conference (APPEC) in Singapore.
    IL&FS: Rs 91,000 crore debt that might well be a ticking bomb

    IL&FS: Rs 91,000 crore debt that might well be a ticking bomb


    Infrastructure lending conglomerate IL&FS group is faced with a Rs 91,000 crore debt and a severe liquidity crunch. The crisis in the financier which has considerable exposure to public money and state-owned entities has caused tremors in the markets and...

    Infrastructure lending conglomerate IL&FS group is faced with a Rs 91,000 crore debt and a severe liquidity crunch. The crisis in the financier which has considerable exposure to public money and state-owned entities has caused tremors in the markets and more trouble might be in store.
    OYO to raise $1 billion in funding from SoftBank, others

    OYO to raise $1 billion in funding from SoftBank, others


    The funding round also saw participation from other existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital. The company has already raised $800 million, and has further commitment of $200 million, OYO said in a...

    The funding round also saw participation from other existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital. The company has already raised $800 million, and has further commitment of $200 million, OYO said in a statement.
    Indo-Pak trade potential stands at $37 billion: World Bank

    Indo-Pak trade potential stands at $37 billion: World Bank


    The report 'A Glass Half Full: The Promise of Regional Trade in South Asia', which was released on Monday, has highlighted among key factors, the long list of product restrictions in bilateral trade between the two...

    The report 'A Glass Half Full: The Promise of Regional Trade in South Asia', which was released on Monday, has highlighted among key factors, the long list of product restrictions in bilateral trade between the two countries.
    Instagram co-founders resign from Facebook-owned co

    Instagram co-founders resign from Facebook-owned co


    The Instagram co-founders have reportedly "clashed" with Facebook leadership over the photo-sharing service's "autonomy" within the company, according to The Wall Street Journal, citing people close to the...

    The Instagram co-founders have reportedly "clashed" with Facebook leadership over the photo-sharing service's "autonomy" within the company, according to The Wall Street Journal, citing people close to the matter.
    Agencies seek Interpol RCN against Nirav Modi’s brother-in-law

    Agencies seek Interpol RCN against Nirav Modi’s brother-in-law


    Mayank Mehta, reportedly a British passport holder, who runs his diamond business from Belgium, Hong Kong and UAE, is accused of laundering PNB funds along with his wife and Nirav’s sister Purvi Mehta. A red notice had already been issued against...

    Mayank Mehta, reportedly a British passport holder, who runs his diamond business from Belgium, Hong Kong and UAE, is accused of laundering PNB funds along with his wife and Nirav’s sister Purvi Mehta. A red notice had already been issued against Purvi, a Belgian national, a fortnight back.
    Rising software exports is the upshot in sliding rupee

    Rising software exports is the upshot in sliding rupee


    The share of services exports, which mainly comprise software, has climbed to 7.3 per cent of gross domestic product in June from 6.8 per cent in March 2017. It’s also helped to underpin the world’s fastest growth rate of 8.2 per cent in the June...

    The share of services exports, which mainly comprise software, has climbed to 7.3 per cent of gross domestic product in June from 6.8 per cent in March 2017. It’s also helped to underpin the world’s fastest growth rate of 8.2 per cent in the June quarter given the services industry’s 55 per cent contribution to the overall economy.
    Crude to touch $100/barrel? India may cut imports

    Crude to touch $100/barrel? India may cut imports


    To cope with the higher cost crude imports, India, the world’s third-biggest oil importer, is considering cutting its imports and relying on stockpiled crude, said two refinery sources with knowledge of the matter who asked to remain...

    To cope with the higher cost crude imports, India, the world’s third-biggest oil importer, is considering cutting its imports and relying on stockpiled crude, said two refinery sources with knowledge of the matter who asked to remain unidentified.
    Rupee falls 33 paise to 72.96 in morning trade

    Rupee falls 33 paise to 72.96 in morning trade


    Traders said besides sustained demand of the US currency from importers and dollar's strength against some currencies overseas ahead of US Federal Reserve's meet, a lower opening in the domestic equity markets too weighed on the domestic...

    Traders said besides sustained demand of the US currency from importers and dollar's strength against some currencies overseas ahead of US Federal Reserve's meet, a lower opening in the domestic equity markets too weighed on the domestic unit.
    TCS switches to online test to hire engg grads

    TCS switches to online test to hire engg grads


    TCS, one of India’s biggest hirers, is changing the way it has been recruiting engineering graduates over the past many years. Starting this year, it has started a pan-India online test — called the National Qualifier Test — and is following that...

    TCS, one of India’s biggest hirers, is changing the way it has been recruiting engineering graduates over the past many years. Starting this year, it has started a pan-India online test — called the National Qualifier Test — and is following that up with a video interview, or a face-to face interview.