Senior Official

The international aviation insurance market, whose losses had mounted last year, has returned to a softer cycle during the current year, which has helped Air India.

PM Modi wants Aviation Min to act on high festival airfares

According to a senior official in the ministry, Modi received representations from some Indians residing in the UAE on his recent visit to the Arab country.

Axis Bank cuts deposit rates by 50 bps

For deposits of over one year but under two years, they have been cut by up to 0.20 percent, the official said, while the longer tenor ones of over two years but under 10 years have been cut by up to 0.30 percent.

Iron ore e-auction fetches Goa govt Rs 7 crore

The Supreme Court, in its verdict that had lifted the stay on the iron ore extraction activity, has allowed the state government to e-auction the ore which was lying at various places including mining leases, jetties among others.

LIC targets Rs 325 crore from rental income this fiscal

On LIC's market share, which declined to 69.21 percent in FY15 from over 75 percent in the previous year, Usha Sangwan said, "Due to the withdrawal of some of the old products, we encountered some challenges, which led to a decline in our market share in 2014-15."

Axis Equity Saver aims to mop up Rs 600 crore

The fund aims to generate capital appreciation and income distribution by investing in multiple asset classes which include equity, hedged equity (arbitrage opportunities) and debt.

Govt to pay Rs 12/litre kerosene subsidy, full for LPG

The Finance Ministry will pay Rs 12 per litre in cash to state-owned fuel retailers and any unbridged gap between the retail selling price and the cost of production will be borne by upstream companies like ONGC, he said. Currently, oil companies sell kerosene at a loss of about Rs 18 per litre.

For Indians, paper gold can't beat the real thing

The jewellery trade says the Narendra Modi government's plans to trace gold deals is unworkable and won't deter holders of black money, or hundreds of millions of Indians outside the tax net, from buying gold to keep their wealth away from the prying eyes of the authorities.

India stresses on petroleum pricing reforms at G20 meet

Railway Minister Suresh Prabhu, who has gone to Turkey as 'Sherpa' of Prime Minister Narendra Modi to attend the G-20 meeting, sought reforms in petroleum pricing and transparency in global gas markets to ensure price stability in the international market.

Snapdeal appoints ex-Airtel exec as Chief Product Officer

This is for the second time a senior official from Airtel has joined Snapdeal in about two months. In April, Airtel's head of contact experience Jayant Sood left the telecom major to join Snapdeal as Chief Customer Experience officer.

India's transport ministry bats for Uber, Ola

India in December ordered all unregistered web-based taxi companies to halt services until they obtain an operating licence after a driver contracted with Uber was accused of rape.

Sebi expects FMC merger to be completed in 6-12 months

Announced by Finance Minister Arun Jaitley in Budget for 2015-16, the merger will help streamline regulations and curb wild speculations in commodities market, while facilitating participation of domestic and foreign institutional investors and launch of new products such as optio

Sebi wants exchanges to have robust cyber security net

The Securities and Exchange Board of India (Sebi), which is mandated to regulate the entire gamut of capital markets in the country, has discussed the issue with its Technical Advisory Committee (TAC) and with various FMIs to assess the adequacy of their technology risk management framework.

Sebi mulls exit norms for dissenting shareholders

In recent times, there have been many instances where investors have been duped by illicit money pooling schemes that promised high return on investments.

12k calls received on relaunch of anti-corruption helpline

In order to strengthen the Anti Corruption Branch, government has increased its strength from 30 to 40 inspectors who work with 40 teams to investigate cases of corruption at any point of time.

Sebi mulls new norms for changes in Sensex, Nifty

The index operators, which include subsidiaries of stock exchanges and independent entities such as S&P, currently do not come under Sebi's direct regulatory purview and the new norms would also include a 'code of conduct' for them while mandating more disclosures and greater transparency while including or excluding a stock from the indices.

Jupiter Capital exits rail freight co IIL at $10 mn

After the transaction, APL becomes 100 per cent owner in the business, Gande said. A senior official from Jupiter Capital said IIL, which was started as a joint venture between APL and Jupiter, is a profitable company clocking a turnover of Rs 350 crore at present and the exit happened at over three times the invested amount.

Jet, IndiGo, SpiceJet ask govt not to remove 5/20 rule

The incumbents, under the aegis of Federation of Indian Airlines (FIA), said in a letter to the Ministry of Civil Aviation late this evening that the 5/20 rule need not be abolished since any change in this rule will remove level playing field conditions.