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The move by BPCL indicates that refiners will try to frontload their purchases from Iran ahead of a November US deadline.

BPCL seeks extra Iran oil amid sanctions threat

So far India's oil imports and payment mechanism have not been hit by the threat of US sanctions.

2 Jun 2018 11:18 AM IST

The government is preparing an action plan to recover revenues from high networth defaulters like Nirav Modi and Vijay Mallya who escaped the law and slipped out of the country.

Mallya resigns as Force India F1 director, seeks appeal in assets case

Mallya's lawyers have claimed the criminal charges against him are without substance and politically motivated.

2 Jun 2018 11:08 AM IST

IOCs current capacity stands at about 1.62 million bpd including 230,00 bpd controlled by its subsidiary Chennai Petroleum Corp.

Petrol, diesel prices cut by 9 paise per litre

In Delhi, petrol now costs Rs 78.20 a litre, and diesel costs Rs 69.11 per litre.

2 Jun 2018 10:25 AM IST

The government has proposed to halve the income tax to 5 per cent for those earning between Rs 2,50,000 and Rs 5,00,000 per annum, in a relief to the middle class.

Tip-off on stash to get you Rs 5crore

The Centre Board for Direct Taxes (CBDT) on Friday announced the Benami Transactions Informants Reward Scheme, 2018.

2 Jun 2018 12:39 AM IST

Nine banks under PCA send recovery plans

Of these, 9 banks have already submitted report to the department of financial services, an official said.

2 Jun 2018 12:39 AM IST

Given the higher NPAs and weak capitalisation of PSBs, ICRA had earlier projected private sector banks market share in the banking sector advances to increase to 38 per cent 40 per cent by 2020 from 27.5 per cent as on March 31, 2017. (Representational image)

Banks ratings under scanner

Fitch noted that losses were big enough to wipe off the $13b fund infused in FY18.

2 Jun 2018 12:38 AM IST

The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas. (Photo: File)

PNB pins hope on asset sale, IBC resolution to raise Rs 13,000 cr

Moody's Investors Service had last month downgraded PNB's rating citing impact of the recent USD 2 billion fraud.

1 Jun 2018 6:49 PM IST

Chinas foreign exchange reserves rose slightly in March as broad U.S. dollar weakness continued.

RBI sets rupee reference rate at 67.1840 against dollar

The exchange rates for the pound and the yen against the rupee were 89.1397 and 61.56 per 100 yens, respectively.

1 Jun 2018 5:56 PM IST

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

Tough action needed to revive Air India, says Anand Mahindra

No Expression of Interest was received from any bidder as the deadline ended on May 31.

1 Jun 2018 5:50 PM IST

ONGC may buy all of the governments 51.11 per cent stake in HPCL

CBI books 13 ONGC officials in Rs 80 crore scam case

ONGC's Vigilance wing had approached the CBI, charging that it had detected a fraud of Rs 80 crore.

1 Jun 2018 5:06 PM IST

Bookings for the Redditch series will open on January 7, 2017 at all Royal Enfield stores across India,

Royal Enfield sales up 23 per cent at 74,697 units in May

The company had sold 60,696 units in May last year.

1 Jun 2018 4:42 PM IST

The Income Tax (IT) department on Wednesday announced that a dress code is being imposed upon its employees through the rollout of Operation Dress Code.

Be an informer to I-T department and earn up to Rs 5 crore

This reward scheme is aimed at encouraging people to give information about benami transactions and properties.

1 Jun 2018 4:16 PM IST