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The rupee hit a record low of 70.86 a dollar in the intra-day trade before closing the day at 70.74 a dollar, down 0.20 per cent from its previous sessions close of 70.59.

Rupee jumps over 3 weeks high, up 55 paise against US dollar

The government on Thursday hiked the import duty on certain communication items.

12 Oct 2018 7:03 PM IST

The pace of opening new bank branches has come down since the last two-three years thanks to the rise in digital transactions.

'New branch opening pace has come down owing to digital transactions'

The presence of branches is still important, but it is not as important as it was two-three years back, he said.

12 Oct 2018 6:49 PM IST

Industrial production growth slipped to a three-month low of 4.3 per cent in August mainly due to a sharp decline in the mining sector output and poor offtake of capital goods, according to the Central Statistics Office (CSO) data. (Photo: PTI)

Poor mining output drags IIP growth to 3-month low of 4.3 per cent in...

The industrial production measured in terms of Index of Industrial Production was 4.8 per cent in August last year.

12 Oct 2018 6:13 PM IST

Retail inflation has picked up in October to a seven-month high, driven by faster rise in prices of food, fuel and housing.

Retail inflation for September jumps to 3.77 pc on rising fuel, food...

Retail inflation in August was 3.69 per cent.

12 Oct 2018 6:04 PM IST

State Bank of India, the countrys largest lender, sees its provision for bad loans remaining high for at least the next two quarters, after which it will start softening as it steps up efforts to improve asset quality, its chairman said on Friday. (Photo: DC)

SBI chief sees bad loan provision falling after two quarters

India's banks have been plagued by a surge in non-performing loans which hit a record USD 150 billion at the end of...

12 Oct 2018 5:22 PM IST

Economic Affairs Secretary Subhash Chandra Garg,

Need coordinated action to minimise spillover effects of global risks:...

The main issues that came up for discussion were the membership expansion of New Development Bank.

12 Oct 2018 2:15 PM IST

Union minister Arun Jaitley.

Number of direct taxpayers may double to 7.6 crore during 5 yrs:...

The number of direct taxpayers was 3.8 crore when the Modi-led government took office in May 2014.

12 Oct 2018 12:34 PM IST

Finance commission chairman said the commission would have to give further thought to use of population criteria for central devolution.

Finance panel not to penalise states over funds' devolution

The commission members also interacted with leaders of various political parties to elicit their views on devolution of...

12 Oct 2018 9:11 AM IST

The finance ministry along with the Prime Ministers Office (PMO) and the commerce ministry is learnt to have finalised a list of products, which would attract higher import duty under an action-plan by the government, to stem the fall of rupee. (Photo: Pixabay)

Govt hikes import duty on select 17 items to curb CAD

Falling rupee, market bloodbath force govt to take more measures.

12 Oct 2018 8:56 AM IST

Life Insurance Corporation may be roped in to participate in the Rs 2.11 lakh crore recapitalisation initiative for public sector banks (PSBs). (File Photo)

LIC's open offer for 26 pc stake in IDBI Bank to begin from December 3

The open offer, at Rs 61.73 per equity share, will close on December 14.

11 Oct 2018 7:15 PM IST

The fluctuating dollar cost only makes life harder as the rupee rate is falling. Every dollar is our 69 plus, making each dollar a crude sum.

Rupee recovers after slumping to record low, up 9 paise against US...

Softening crude oil prices and the greenback weakening against other currencies provided support to the home unit.

11 Oct 2018 7:01 PM IST

Following peers, state-owned Bank of India has hiked lending rates based on MCLR by 0.10 per cent for various tenors.

Bank of India raises MCLR rates by 0.05 pc on two tenures

Punjab National Bank also increased its benchmark lending rates or MCLR last week.

11 Oct 2018 5:16 PM IST