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Punjab and Sind Bank defrauded of Rs 38.19 cr Punjab and Sind Bank defrauded of Rs 38.19 cr

 

Mumbai, State-run Punjab and Sind Bank on Friday said it has been defrauded of Rs 38.19 crore by Ranchi Expressway Ltd. The bank also said that it had already made provisions on this count to the tune of Rs 15.28 crore.

Last year, Punjab and Sind Bank (PSB) had reported Rs 238 crore fraud to the Reserve Bank of India (RBI) relating to allegations of diversion of funds by Bhushan Power and Steel Ltd.

US-China trade deal to reduce global uncertainty: IMF chief US-China trade deal to reduce global uncertainty: IMF chief

Washington, The newly signed US-China phase-one trade deal will reduce the uncertainty that has impeded global economic growth, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said.

"It is a welcoming sign that we now have the phase-one deal, sign in terms of reducing some of the uncertainty," Georgieva said on Friday during an event hosted by Peterson Institute for International Economics, a Washington-based thinktank.

Defer 5G auctions by at least 3 years: PHD Chamber Defer 5G auctions by at least 3 years: PHD Chamber



New Delhi, The PHD Chamber of Commerce and Industry (PHDCCI) on Friday asked the Department of Telecom (DoT) to delay the 5G spectrum auction by at least 3 to 5 years to enable the government get proper valuations for the bandwidth resource.

"If 5G spectrum is auctioned now, the license fees would be frozen for the next 20 years and the government will lose money. Also the operators will also lose since they will be able to monetize bandwidth only after 3-5 years" PHDCCI Chairman (Telecom Committee) Sandeep Aggarwal said.

Petrol, diesel prices surge for fourth straight day Petrol, diesel prices surge for fourth straight day

 

New Delhi, The Petrol and diesel prices rose again for the fourth straight day on Sunday across all major cities.

Petrol price was increased by 9 paise per litre and that of diesel by 11 paise, as per the information on the Indian Oil Corporation website.

Petrol now costs Rs 75.54 a litre in Delhi, Rs 81.13 per litre in Mumbai, Rs 78.13 per litre in Kolkata, and Rs 78.48 per litre in Chennai, after the increase.

Similarly, diesel prices cost Rs 68.51 a litre in Delhi, Rs 71.84 a litre in Mumbai, Rs 70.87 a litre in Kolkata, and Rs 72.39 in Chennai.

Official panel moots 2 GST slabs, more items at higher rates Official panel moots 2 GST slabs, more items at higher rates

 

New Delhi, A panel of officials on ways to augment Goods and Services Tax (GST) revenue has suggested two GST slabs of 10 per cent and 20 per cent and the transfer of some goods from the 18 per cent slab back to the highest 28 per cent category.

The GST council has fixed over 1,300 goods and 500 services under four GST slabs of 5, 12, 18 and 28 per cent. This is besides the tax on gold which is at 3 per cent and rough, semi-precious and precious stones that attract a special rate of 0.25 per cent under GST.

Diesel prices rise after 9 days, petrol stable Diesel prices rise after 9 days, petrol stable


New Delhi, After remaining stable for the last nine days, diesel prices increased on Thursday, while the petrol prices remained unchanged.

Diesel has become costlier by 15 paise per litre in Delhi and Kolkata, and 16 paise per litre in Mumbai and Chennai.

According to the website of Indian Oil, petrol prices in Delhi, Kolkata, Mumbai and Chennai remain the same at Rs 74.63, Rs 77.29, Rs 80.29 and Rs 77.58 per litre respectively

Bulls in control, Sensex-Nifty end at record high Bulls in control, Sensex-Nifty end at record high

 

Mumbai, Both key equity indices Sensex and Nifty logged fresh highs on Tuesday. While the benchmark Sensex advanced 413 points to close at 41,352, the broader Nifty added 111 points to end at 12,165.

Sensex logged record closing high for the second straight day.

The HDFC and ICICI Bank stocks touched their respective 52-week high on the BSE.

Tesla unveils 15.4 kW home solar system Tesla unveils 15.4 kW home solar system



San Francisco, Electric vehicle (EV) maker Tesla has unveiled a 15.4 kW solar system suitable for 4,000 plus sqft and above homes as part of its attempt to revamp the solar business.

It's suitable for homes that were paying $340-460 per month for electricity, the MSPower User reported on Friday.

Earlier in September, the EV maker had launched simplified solar power offerings that were easier to install at homes.

Sensex nears life-time high despite stagflation fears Sensex nears life-time high despite stagflation fears

 

Mumbai, India's benchmark index Sensex traded near its life-time highs on Friday after signs of easing in US and China trade tension. The Sensex hit an intraday high of 41,030.92 -- a little over 100 points away from a record high of 41,163.79.

Global equities were trading on a firm note on Friday after reports that the US and China may sign a long-awaited trade deal. The world's two largest economies were expected to seal an interim agreement which would see US drop some tariffs and Beijing to buy more American goods.

Regional languages to drive creators in 2020: YouTube India Regional languages to drive creators in 2020: YouTube India


New Delhi, Google-owned YouTube, which has more than 265 million monthly active users in India, will focus on regional languages to drive the growth of creators on the platform in 2020, a top company executive has said.

According to Satya Raghavan, Director, Content Partnerships, YouTube in India, the company's focus on Indian languages will continue and it will encourage more creators to find success on the video sharing platform in the next year.

Maruti Suzuki to raise vehicle prices from Jan 2020 Maruti Suzuki to raise vehicle prices from Jan 2020

 

New Delhi, Automobile major Maruti Suzuki will increase vehicle prices from January 2020.

According to the company, the price increase is necessitated on account of increase in input cost.

Besides, the auto major said the "price increase shall vary for different models".

Dollar climbs amid Brexit uncertainty Dollar climbs amid Brexit uncertainty

 

New York, The dollar appreciated in late trading on Friday amid falling sterling, as market participants awaited more updates concerning Brexit.

The dollar index, which measures the greenback against six major peers, was up 0.20 per cent at 97.8311 at 3:00 p.m. (1900 GMT), the Xinhua news agency reported.

Indian economy in 'tailspin' warns Nobel laureate Banerjee Indian economy in 'tailspin' warns Nobel laureate Banerjee


New York, The newly-minted economics Nobel laureate Abhijit Banerjee has warned that the Indian economy is going into "a tailspin" and his prescription is for the government to focus to increasing demand rather than on deficits or stability.

US dollar drops on trade optimism US dollar drops on trade optimism



New York, The US dollar pulled back on Friday, as investors expected a positive result of the latest round of US-China trade talks.

In late New York trading, the euro increased to $1.1041 from $1.1005 in the previous session, and the British pound increased to $1.2659 from $1.2444 in the previous session, Xinhua reported.

The Australian dollar increased to $0.6799 from $0.6761.

Growth worries lead Sensex to 6th straight session of loss Maruti Suzuki launches mini-SUV S-Presso RPower 'ideally' placed for strong performance: Anil Ambani Fortis to expand Mohali hospital, build de-addiction centre TV players hail import duty scraping, to pass benefit to consumers Oil shock: Sensex loses 642 points, auto, banks worst hit After JioFiber, Airtel launches 1Gbps broadband plan India's forex reserves down by $446 mn Ashok Leyland August sales drop by 47% Crash-&-burn: Aug auto sales may plunge; 30% fall seen US dollar rises against British pound Auto slowdown: SBI waives processing fee on car loan, more PSBs to follow Hyundai launches Grand i10 Nios @ Rs 4.99-7.99 lakh Jio GigaFiber's commercial services start Sep 5 Just rate cut not enough to boost realty market: Developers Equities, currency tumble over weak global cues, J&K decision GST Council slashes tax on EVs and EV chargers Sensex ends in green after 6 days of decline Sensex ends lower for the 6th day; auto, steel scrips lose Fuel subsidies 3 times higher than e-vehicle budget: Report Govt may close NTPC-SJVNL, IOC/BPCL-GAIL M&A deals in FY20 With no respite for FPIs, Sensex nosedives 560 pts United to resume flights to India on September 6 Reliance Power enters into Inter-Creditor Agreement with lenders Sensex logs heaviest fall in 7 months as Budget fails to deliver PNB reports Rs 3,805 cr fraud by Bhushan Power & Steel Sensex slumps 460 points post Budget presentation FICCI recommends tax incentives for movie theatres Huawei Mate 30 5G launching in December: Report Ambrane launches its BIG BATTERY, 20000 mAh Lithium Polymer Power Bank