Business

The government is set to ask public sector banks to expeditiously introduce repo-rate linked products "to step up affordable credit", according to an agenda item of the meeting.

In the past, US presidents have sold emergency reserves three times: during the 1991 military operation following the invasion of Kuwait by Iraq; during Hurricane Katrina in 2005; and during the popular uprising in Libya in 2011.

Coffee Day Enterprises Ltd shares fell 2.3% on reports that the Blackstone Group has signed a definitive agreement to buy the company’s tech park for Rs 2,700 crore.

The airline owes over Rs 8,500 crore, excluding interest, and other penal charges, to a clutch of lenders led by the State Bank.

SBI General, valued at over Rs 12,000 crore recently, is a joint venture between SBI and Insurance Australia Group with a 26 per cent ownership.

Finance Minister Nirmala Sitharaman also relaxed guidelines of the External Commercial Borrowings to facilitate financing of home buyers.

To further improve the ease of doing business and exports, she announced an online origin management system in the coming weeks for exporters to enable them to "obtain certificates of origin under rules of origin".

Gowda was addressing a press conference here to showcase the hundred days' achievement of Prime Minister Narendra Modi led NDA 2 government.

Sectors which attracted maximum foreign inflows during April-June 2019-20 include services (USD 2.8 billion), computer software and hardware (USD 2.24 billion), telecommunications (USD 4.22 billion), and trading (USD 1.13 billion).

Paswan announced 'a blanket ban on all types of single use plastic products' in the ministry as well as PSUs, including Food Corporation of India (FCI) from September 15.

After nosediving 867 points during the day, the 30-share index ended 769.88 points, or 2.06%, lower at 36,562.91. The broader Nifty also sank 225.35 points, or 2.04%, to settle at 10,797.90.

The government said that the bank, in a regulatory filing earlier, had said the board will also consider the amalgamation of the Oriental Bank of Commerce and United Bank of India with it.

At 9:29 am, shares of Union Bank were trading down 3.7% at Rs 56.70, after hitting an intra-day low of Rs 56.10. Meanwhile, shares of Andhra bank were up 2.3%, while those of Corporation Bank was down 1.4%.

Traders said subdued demand from local jewellers led to the fall in gold prices. However, positive global trend restricted the fall in the yellow metal's prices, they said.

The Payments Council of India which represents the players in the payments and settlement systems has welcomed the move. The PPI industry processed more than 4 billion transactions in the year ending March 2019.

The government has pegged its total expenditure during the fiscal ending March 2020 at Rs 27.86 lakh crore.