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India pays its third largest oil supplier in euros using European banking channels and imports.

US says no exemption to India on oil imports from Iran

In January 2012, Iran agreed to accept India's local currency, the rupee, to settle nearly half of its sales to India.

27 Jun 2018 2:39 PM IST

The Reserve Bank of India on Monday fixed the reference rate of the rupee at 64.9287 against the US dollar and 79.6870 for the euro.

Exim Bank extends USD 10 million loan facility to Seychelles

The LOC is the first tranche of the USD 50 million sanctioned by the Exim Bank to the country, a release said.

27 Jun 2018 2:09 PM IST

Deputy chief minister Manish Sisodia addresses a press conference at Delhi secretariat on Tuesday. (Photo: PTI)

Abolish Integrated GST to make tax system effective, says Sisodia

Union Minister Arun Jaitley had said there cannot be a single GST rate in a country like India.

27 Jun 2018 1:50 PM IST

Twenty-one banks, majority owned by New Delhi, account for more than two-thirds of the banking assets in Asias third-biggest economy.

State-run banks hopeful of getting out of RBI's watchlist by 2020

Under the PCA, banks face restrictions on distributing dividends and remitting profits.

27 Jun 2018 1:12 PM IST

The bank has a market capitalisation of nearly Rs 23,000 crore while its real estate assets as well as its investment portfolio are estimated to be worth over Rs 20,000 crore.

LIC may enter banking sector; eyes majority stake in IDBI Bank

The deal is expected to provide business synergies despite the lender's stressed balance sheet.

27 Jun 2018 1:06 PM IST

The three firms of diamantaire Nirav Modi were issued LoUs worth Rs 6,498 crore.

Nirav Modi availed loans from PNB Hong Kong, Dubai branches too:...

The 162-page report alleged that a group of employees at the Brady House branch issued fake letters of undertaking.

27 Jun 2018 12:52 PM IST

Senior government officials have denied using Mahindra and Mahindra Ltd and Tata Motors manufactured electric cars on the basis of poor performance and low mileage, says report.

Citing poor performance and mileage, govt officials refuse to use...

Both models were not capable of providing an average of more than 80-82 km on single charge in cities.

27 Jun 2018 12:33 PM IST

PM Narendra Modi speaking during a BJP function in Mumbai. (Photo: PTI)

AIIB should increase loans tenfold to USD 40 billion by 2020, says...

AIIB began operations in January 2016, having been cast by Beijing as an alternative to other multilateral lenders.

27 Jun 2018 11:48 AM IST

Donald Trump ordered the creation of a sixth branch. (Photo: Pixabay)

Trump cites India as example to defend his tariff decision

Trump has repeatedly raised the issue of high tariffs by India on high-end Harley-Davidson motorcycles.

27 Jun 2018 11:01 AM IST

Prime Minister Narendra Modi. (Photo: PTI/File)

Social security cover extended to 50 crore people, says Narendra Modi

He said beneficiaries under various social security schemes stood at about 5 crore in 2014, which has now increased to...

27 Jun 2018 10:54 AM IST

Fortis shares gained 4.17 per cent to end at Rs 153.80 on the BSE on Thursday.

Fortis Healthcare Q4 net loss widens to Rs 914 crore

It was Rs 479.29 crore for the previous fiscal year.

27 Jun 2018 10:48 AM IST

Benchmark Sensex surged 577 points to end at 33,597 on Thursday.

Sensex opens in green as blue-chips rise

The BSE Sensex advanced nearly 54 points in opening trade on Wednesday.

27 Jun 2018 10:32 AM IST