Business

The rupee opened strong at 69.38 at the interbank forex market, then gained further ground and touched 69.24, displaying gains of 13 paise over its last close.

The national carrier has proposed to help employees in finding suitable accommodation on rent, subsidise the rent lease amount, bear the brokerage charge and pay tariff for transporting household goods.

Jet, once India's largest private airline, was forced to stop all flight operations on April 17 after its lenders declined to extend more funds to keep the carrier going.

The NCLAT had in February prohibited banks from recognising any IL&FS group accounts as non-performing assets without first seeking approval from the tribunal.

However, a strengthening rupee and global crude oil prices restricted further losses in equity markets.

Higher oil prices will mean Asia's third-largest economy is likely to see growth of less than 7 percent rate this fiscal year, economists said. Growth slowed to 6.6 per cent in the October-December quarter, the slowest in five quarters.

The 30-share index was trading 152.41 points or 0.39 per cent higher at 38,883.27, and the NSE Nifty rose 50.90 points or 0.44 per cent to 11,692.70.

SpiceJet has denied the allegations as "completely false and distorted," and said its team was in the city Tuesday to hire pilots and not to run them down.

Petroleum and natural gas minister Dharmendra Pradhan said India will get additional supplies from other major oil producing countries to compensate for the loss of Iranian oil.

Earlier this week, Air India chairman and managing director Ashwani Lohani wrote to SBI chairman Rajnish Kumar saying that the airline is looking at leasing five of Jet Airways' Boeing 777s and operate them on London, Dubai and Singapore routes.

Leveraging upon data analytics and technology, the bank has introduced a bouquet of instant products, including the country's first instant credit card, insta personal loan among others.

Mehul Choksi and his nephew diamantaire Nirav Modi are being probed under various criminal laws after the Rs 14,000-crore PNB fraud came to light in February 2018.

The audit report for 2017-18, the first year of the goods and services tax (GST) implementation, is to be filed by June 30.

Last month, Naresh Goyal and his wife Anita Goyal stepped down from the board of the airline, which has more than Rs 8,000 crore debt.

The Indian government in February had said that bad loans fell by Rs 31,168 crore in April-December 2018-19 compared to NPAs worth Rs 8,95,601 crore at March-end 2018.

Amid acute financial crunch, which has also forced it to delay salaries to employees and payments to banks, aircraft lessors and vendors, Jet is struggling to remain afloat.