Business

Further, Finance Minister Nirmala Sitharaman said the banks have sufficient liquidity, and efforts are being made to ensure that due payments are released to the micro, small and medium enterprises (MSME) sector by large corporates.

The annual rate of inflation, based on monthly wholesale price index (WPI), was at 5.22 percent in September 2018.

On Friday, a Citi spokesman said the bank did not meet the holding requirement in some instances, but customers were not affected.

At 10:04 am, TCS shares were down 2.6% to Rs 1,951.80 apiece, after hitting an intraday low of Rs 1,925. The stock has corrected nearly 6% in the September quarter, but gained 6% year-to-date.

Yes Bank offers 6.25% per annum for saving deposits above Rs 1 crore. For deposits between Rs 1 crore and Rs 5 crore, the interest rate is 6%, while it is 5% for savings balance up to Rs 1 lakh.

Most brokerages are expecting the company to post single-digit revenue growth this time as against the expectation of double-digit number earlier, weighed down by the weak performance of the banking and financial services (BFS) sector.

The commerce ministry's investigation arm, DGTR, has started the probe to see if the subsidy programmes of Malaysia for exports of clear float glass is impacting the domestic industry.

Unilever said by 2025, it will halve its use of 'virgin plastic', by reducing its absolute use of plastic packaging by more than 1,00,000 tonnes and accelerating the use of recycled plastic.

Voicing confidence that the ban on e-cigarettes will be highly effective as the consumer base is small at present, he said taking the ordinance route was an approach to nip the problem in the bud.

E-commerce companies, which see a large chunk of their sales during the festive season, start preparing for festive sales months in advance, ramping up logistics and hiring temporary workers to ensure timely delivery of products.

The six-member monetary policy committee (MPC) of the RBI cut the repo rate by 25 basis points to 5.15%. This was the fifth straight cut this year.

Sensex rose 230 points, or 0.6%, to 38,336.71, while the Nifty 50 index is up 53.25 points, or 0.47%, to 11,367.25.

The complaint, filed with the Economic Offences Wing (EOW) of Mumbai Police, accuses the bank's management of concealing non-performing assets and disbursing loans leading to a loss of at least Rs 4,355.46 crore.

Governor Shaktikanta Das had already hinted that the benign inflation provides room for further monetary policy easing while space for fiscal space is limited.

At 1:26 pm, the benchmark S&P BSE Sensex was down 114.63 points, or 0.3%, to 38,552.70, while the Nifty 50 index fell 45.10 points, or 0.39%, to 11,429.35.

The minister said his government's target is to increase MSMEs' present share of 29 percent in the GDP to 50 percent and raise its export contribution from 49 percent to 60 percent.