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Banning of letters of undertaking (LoUs) and letters of comfort (LoCs) by the RBI as trade finance instruments is likely to reduce financial flexibility of importers, a Fitch group company said on Wednesday.

RBI retains GDP growth forecast at 7.4 per cent for FY'19

Central has also projected the GDP growth for first quarter of the next financial year at 2019-20 at 7.5 per cent.

1 Aug 2018 3:29 PM IST

Reserve Bank of India (RBI) on Thursday directed all payment system operators in India to store data within the country.

RBI hikes repo rate by 25 bps to 6.5 pc after its 3rd bi-monthly MPC...

Reserve Bank of India has hiked the repo rate for the second consecutive month.

1 Aug 2018 2:43 PM IST

German car major Volkswagen (VW) today said it has appointed Bishwajeet Samal as marketing head for India operations with effect from June this year.

Volkswagen profit rises 6.8 per cent despite diesel costs

Company had record sales volume for the first six months of the year of 5.5 million vehicles, an increase of 7.1 per...

1 Aug 2018 2:20 PM IST

Reliance Industries or RIL chairman Mukesh Ambani at an AGM in Mumbai. (Photo: PTI)

Reliance Industries wins arbitration award in gas dispute with govt

The Consortium is not liable to pay any amount to the Government of India.

1 Aug 2018 12:57 PM IST

IOC and the state govt agreed to revised terms at the meeting called at the behest of Pradhan. (Photo: AP)

IOC tops 7 Indian firms on Fortune 500 list, RIL jumps 53 places

Indian Oil Corp with 23 per cent rise in revenues at USD 65.9 billion was ranked 137th from 168th position.

1 Aug 2018 12:56 PM IST

Telecom Commission on Tuesday approved a proposal for allowing mobile phone calls and internet services in domestic and international flights in India.

Call drop: Trai sets new quality norms for 4G networks

The Telecom Regulatory Authority of India (Trai) has decided to measure call quality on the 4G network in terms of data...

1 Aug 2018 12:45 PM IST

Disinvestment-bound Air India has approached aviation regulator DGCA for renewal of its flying permit, expiring in June.

Govt seeks Parliament nod for Rs 980 cr equity infusion into Air India

The government's proposed strategic stake sale of Air India failed to take off in May but remains committed to the...

1 Aug 2018 12:36 PM IST

Bajaj Auto said its total commercial vehicle sales during the month under review stood at 28,555 units

Bajaj Auto reports 30 per cent increase in July sales at 4,00,343...

Domestic sales were at 2,37,511 units as against 1,86,497 units, up 27 per cent.

1 Aug 2018 11:38 AM IST

Maruti Suzuki India posts marginal decline in July sales

Utility vehicles, including Vitara Brezza, S-Cross and Ertiga were down 4.9 per cent.

1 Aug 2018 11:28 AM IST

A total of eight out of 23 industry groups in the manufacturing sector grew in July 2017 compared to the corresponding month last year.

Mfg sector activity eases in July amid softer increase in output: PMI

This is the 12th consecutive month that the manufacturing PMI remained above the 50-point mark.

1 Aug 2018 11:22 AM IST

Conference workers speak in front of a demo booth at Facebooks annual F8 developer conference, in San Jose, Calif. The chairman of the U.K. Parliaments media committee says the government office that investigated the Cambridge Analytica scandal has fined Facebook 500,000 pounds ($663,000) for failing to safeguard users data. (AP Photo/Noah Berger, File)

Facebook removes accounts involved in political influence campaign...

Fake accounts contacted administrators of five other legitimate Facebook groups to help plan the counterprotest.

1 Aug 2018 10:42 AM IST

The Sensex opened higher before trading at 26,646.65 at 1100 hours, a loss of 51.17, or 0.19 per cent.

Sensex, Nifty scale fresh lifetime highs ahead of RBI policy decision

The 30-share index surged 83.65 points, or 0.22 per cent, to an all-time high of 37,690.23.

1 Aug 2018 10:08 AM IST