MUMBAI: The rupee rose 96 paise to 95.77 per dollar on Monday after fresh measures to curb dollar demand and speculative positions, even as banks sought relaxation of the new foreign exchange restrictions, more time for compliance and clarity on operational issues. The currency has weakened around 6.5% this year.The recovery may prove temporary unless…
BENGALURU: IT firms had shrugged off concerns over their dependence on the US green-card route well before the US administration announced the suspension of PERM processing, with certified applications already declining sharply.Thirteen major IT services companies recorded 607 certified permanent labour certification (PERM) applications in the first nine months of FY26, compared with 1,670 in…
CHENNAI: Lakshmi Venu and Mallika Srinivasan have said the economic settlement within the Venu Srinivasan (VS) family remains unresolved, disputing suggestions that a division of assets has been completed.In a joint statement issued amid recent media reports, Lakshmi Venu and Mallika Srinivasan, daughter and wife of Venu Srinivasan, respectively, said no agreement on the division…
Bharti Enterprises founder and chairman Sunil Bharti Mittal NEW DELHI: Sunil Bharti Mittal, Bharti Enterprises founder and chairman, has been named a Chevalier de l’Ordre national de la Legion d’Honneur (Knight of the National Order of the Legion of Honour) by French President Emmanuel Macron. Established in 1802 by Napoleon Bonaparte, this is the highest…
The tribunal delivered its ruling on August 14, 2026. (Image for representative purpose only) You get Transferable Development Rights from the government by giving up a part of your land and sell them to a builder. Are you liable to pay capital gains tax?In one such case a landowner received Transferable Development Rights (TDRs) but…
Foreign investors have sold Indian equities worth Rs 44,166 crore so far in October. With foreign investors pulling money out of Indian equities, economists at the country’s largest lender, State Bank of India (SBI), have proposed scrapping the long-term capital gains (LTCG) tax on equity investments to encourage investors to remain invested for longer periods.“The…
The Delhi High Court observed that Clause 3.3 of the RBI circular gives banks the freedom to set interest rates. (Image for representative purpose only) Can banks change the rate of returns for fixed deposits on non-renewal? The Delhi High Court has ruled in favour of a fixed deposit holder after a bank cut the…
The BSE Sensex closed at 71,924.68 on Monday, falling 547.65 points, or 0.76 per cent, from its previous close of 72,472.33. The index opened at 72,771.32 and touched an intraday high of 72,884.25 and a low of 71,676.10.The NSE Nifty 50 ended the session at 22,363.35, down 157.10 points, or 0.70 per cent, from its…
India’s retail inflation may rise to 5.47% in September as food prices climb: UBI Retail inflation moved closer to the Reserve Bank of India’s upper tolerance limit of 6 per cent in September, rising to 5.54 per cent from 4.83 per cent in August as food prices recorded a sharper increase. Food inflation climbed to…
The report further suggested that banks could set aside around 3% of the funds that CASA depositors forgo through lower interest earnings. With a Merchant Discount Rate (MDR) on merchant UPI transactions being announced above Rs 2,000, professors at IIT-Bombay have come out with a report proposing reducing the MDR to 0.08% from 0.40%.The report’s…