Free Press Journal
  • Sensex logs first fall in 4 days, tanks 383 pts on rupee woes

    Mumbai: The BSE benchmark Sensex snapped its three-day gains, plunging 383 points due to heavy selling mainly in financial and auto stocks as rising crude prices and rupee volatility spooked investors. The flagship index swung nearly 880 points both ways on alternate bouts of buying and selling during the session. The NSE Nifty too fell by 131.70 points to slip below 10,500-mark. Intense selling pressure was witnessed in select counters led by auto, realty and

  • BK Goenka takes over as President of ASSOCHAM

    Mr. Balkrishan Goenka, Chairman of Welspun Group today assumed the leadership role of The Associated Chambers of Commerce & Industry of India (ASSOCHAM) as President. Mr. Goenka has succeeded Chairman and MD of Monnet Ispat & Energy, Mr Sandeep Jajodia. He also unveiled the new vision of ASSOCHAM and said, “ASSOCHAM has always been an important partner with the Government in shaping India’s Growth Story.

  • Sensex jumps 267 points tracking global cues, strong earnings

    Mumbai: The equity benchmark Sensex rallied for the fourth straight session Wednesday, and jumped 267 points, on encouraging second quarter earnings by tech major Infosys and positive global cues. The 30- share Sensex soared 267.26 points, or 0.76 per cent, to 35,429.74. It had rallied 1,161 points in the previous three sessions.

  • Rupee gains 6 paise against US dollar

    Mumbai: The rupee strengthened by 6 paise to 73.42 against the US dollar in early trade on Wednesday on increased selling of the American currency by exporters and banks. Forex dealers said weakness in the dollar against some currencies overseas and a higher opening of domestic equity markets gave some support to the rupee.

  • 10th city gas distribution auction may start by December

    New Delhi: The Petroleum and Natural Gas Regulatory Board (PNGRB) may start the process for the tenth round of city gas distribution auction for 30-40 geographical areas by December, Chairman Dinesh Kumar Sarraf said. “I think it could be even earlier than that,” Sarraf said when asked when in December the regulator may start the auction process. Sarraf said the regulator is in the planning stage for the auction and some of

  • BSNL along with Nokia to reach out to businesses for 4G services

    New Delhi: State-run BSNL has partnered with telecom gear maker Nokia to offer businesses private 4G services, the two companies said in a joint statement.  “Nokia and BSNL are working together to implement the next level of industrial automation, leveraging 4G LTE technology to enable greater operational efficiency at Nokia’s Chennai plant,” it said. The first project under the partnership has been deployed at Nokia’s Chennai plant using 4G connection from BSNL’s

  • Sanctions to affect India’s tea exports to Iran

    New Delhi: New sanctions on Iran, once again by the US, have been brewing storm in energy markets for the past few months. And while the buzz is all about crude oil, Indian tea exporters too are a worried lot, for Iran is a key market for them. While tea exports are likely to be left out of the purview of the sanctions, shipping lines would not have the same immunity, exporters

  • 168 ethanol projects might get Rs 7,000-8,000 crore soft loan

    New Delhi: After approving a soft loan of Rs 6,139 crore, the food ministry now plans to seek Cabinet approval to facilitate sugar mills with additional loans worth around Rs 7,000-8,000 crore to enhance ethanol production capacity, government sources said. “In addition to the 114 projects already approved, the plan is to facilitate loans for another 168 proposals by mills. We will be floating Cabinet note to seek loans of around Rs

  • Piramal mulls $1-billion sale of arm

    Mumbai: Piramal Enterprises chairman Ajay Piramal is considering a sale of his contract pharmaceutical operations, which could fetch around $1 billion. Piramal Enterprises is working with advisers to gauge interest in the business, known as Piramal Pharma Solutions, according to a Bloomberg report.

  • CVC shares report on top 100 bank frauds with RBI

    New Delhi: Probity watchdog Central Vigilance Commission (CVC) has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its findings with the RBI, ED and CBI among others, Vigilance Commissioner T M Bhasin said. The analysis focussed on the modus operandi, amount involved, type of lending (viz. consortium or individual), anomalies observed, loopholes that facilitated perpetration of the fraud concerned and

  • editorial, R N Bhaskar, RBI, crucial chinks, Reserve Bank Of India, Demonetisation, digital payments

    RBI norms to make e-wallets seamless

    Mumbai: The Reserve Bank on Tuesday released guidelines to facilitate payments among different mobile wallets, a move aimed at promoting digital transactions. As per the road-map laid down in 2017, interoperability of all KYC-compliant Prepaid Payment Instruments (PPIs) was to be enabled in three phases – interoperability of PPIs issued in the form of wallets through Unified Payments Interface (UPI), interoperability between wallets and bank accounts through UPI, and interoperability for PPIs

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