Business

India’s Bharti offers free data, deepening price war with rivals

Bharti Airtel Ltd, India’s top wireless carrier, said on Tuesday it would offer free data to woo new and existing 4G customers, intensifying a price war in the sector and sending share prices tumbling. The package is Bharti’s latest response to the entry last year of new operator Reliance Jio, backed by billionaire Mukesh Ambani, which shook India’s telecom sector ...

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State Bank of India cuts lending rate by 90 bps across maturities

State Bank of India, the country’s biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits. After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 percent from 8.65 percent, while three-year loan ...

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Global diamond business roiled as cash crunch hits Indian stone cutting

By Rajendra Jadhav and Susan Taylor | SURAT, INDIA/TORONTO The global diamond industry is facing disruption that could stretch through the first few months of next year, including Valentine’s Day in February, as a result of Prime Minister Narendra Modi’s radical move to abolish most of the nation’s cash overnight. In Surat, craftsmen usually spend 10-12 hours a day in ...

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Markets Live: Sensex plunges 234 points, Nifty falls to 7-month low on worries over capital gains tax

The NSE index fell 1 per cent to a seven-month low, erasing its gains for the year, on worries capital gains taxes would rise after Prime Minister Narendra Modi said market participants should contribute to nation-building. Finance Minister Arun Jaitley later clarified that the government did not plan to impose long-term capital gains tax, but it was not enough to ...

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Here’s what Reliance Jio and Airtel would be offering in 2017

Crashing data tariffs, free voice calls, disruptive entry of Reliance Jio and a no-holds-barred turf war to safeguard Rs 9 lakh crore worth of cumulative investments have sthe tone for an action-packed 2017 for the telecom sector, which also had to grapple with the thorny issue of call drops this year, as per an agency report If anything, the high-voltage ...

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IDFC Bank launches aadhaar-linked cashless merchant solution

IDFC Bank today announced the nation-wide launch of aadhaar-linked cashless merchant solution that uses a retailers’ smartphone to enable digital payments. Aadhaar Pay, launched by the government today, has been developed by IDFC Bank in association with Unique Identification Authority of India (UIDAI) and the National Payments Corporation of India (NPCI), the bank said in a statement. It said IDFC ...

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Tata-Mistry tangle: 140 cases filed in multiple courts

Legal eagles including P Chidambaram, Ravi Kadam pad up for long-drawn battle MUMBAI, DECEMBER 25:   The Tata-Mistry boardroom battle is a noodle soup of legal suits, with a whopping 140 cases, caveats and injunctions filed in various courts in Mumbai and New Delhi. The cases have been filed in the Bombay High Court, city civil courts, Delhi High Court and ...

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Sensex, Nifty snap seven sessions of falls

The BSE Sensex and Nifty ended slightly higher on Friday, snapping a seven-session losing streak, as auto and financial stocks recovered, but the indexes still posted their biggest weekly fall in five as emerging markets remained under pressure. The Sensex ended up 0.24 percent at 26,040.70, and posted a weekly fall of 1.69 percent. The Nifty closed 0.08 percent higher ...

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