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No fuel to Air India at 6 major airports from October 18 unless lumpsum paid towards dues, say OMCs

No fuel to Air India at 6 major airports from October 18 unless lumpsum...

NEW DELHI: Oil companies marketing have threatened to stop fuel supply to Air India at the six metros — with Delhi and Mumbai being the airline’s main hubs — from next Friday (October 18). In the past too, OMCs have stopped aviation turbine fuel supply to AI but never at metros and if implemented, this…
Pay monthly, or will cut fuel supply at 6 airports from Oct 18: Oil companies to Air India

Pay monthly, or will cut fuel supply at 6 airports from Oct 18: Oil...

NEW DELHI: Issuing an ultimatum to Air India, PSU oil majors on Thursday asked it to make the monthly lump sum payment by October 18 or they will stop the fuel supply at six major airports, according to an official document. In a letter sent to Air India, the three oil PSUs -- Indian Oil…
Revival plan under government’s active consideration: BSNL

Revival plan under government’s active consideration: BSNL

NEW DELHI: Crisis-ridden Bharat Sanchar Nigam Ltd (BSNL) on Thursday asserted that a plan for revival of the state-owned company is under active consideration of the government. The plan entails giving suitable package comprising components like voluntary retirement scheme (VRS) and 4G spectrum and allowing monetisation of assets available with BSNL, the company said. "...it…
Half a dozen public sector banks cut lending rates by up to 0.25%

Half a dozen public sector banks cut lending rates by up to 0.25%

NEW DELHI: About half a dozen public sector banks, including Bank of India, Oriental Bank of Commerce and Bank of Maharashtra, have reduced lending rates by up to 25 basis points (bps) following a cut in the key policy repo rate by the RBI last month. With the reduction in their respective benchmark lending rates,…
Retail inflation surged in September but won’t ‘bring tears’ to RBI: Poll

Retail inflation surged in September but won’t ‘bring tears’ to RBI: Poll

BENGALURU: Retail inflation probably reached a 12-month high in September, but still leaving room for further interest rate cuts because it’s expected to remain below the Reserve Bank of India’s (RBI's) target, according to a Reuters poll. An extended monsoon has delayed harvests and interrupted the supplies of vegetables like onions, a key ingredient in…
India’s exports of gems, jewellery fall 6.2% in September

India’s exports of gems, jewellery fall 6.2% in September

MUMBAI (Reuters) - India's gems and jewellery exports fell 6.2% in September from a year ago to $3.3 billion as shipments of cut and polished diamonds slumped, a leading trade body said on Thursday. The country's cut and polished diamonds exports in the month fell 17.8% from a year ago to $1.94 billion, the Gems…
Sensex falls 297 points to close at 37,880; Nifty below 11,250

Sensex falls 297 points to close at 37,880; Nifty below 11,250

NEW DELHI: Equity indices on Thursday ended in red after the benchmark BSE sensex fell over 250 points, dragged by heavy losses in banking, auto and metal stocks amid muted earnings outlook. The 30-share BSE index dropped 297.55 points or 0.78 per cent to close at 37,880.40, while the broader NSE Nifty plunged 78.75 points…
Raymond sells 20-acre Thane plot to Xander arm for Rs 700 crore

Raymond sells 20-acre Thane plot to Xander arm for Rs 700 crore

MUMBAI: The retail arm of private equity firm Xander has agreed to buy 20 acres of land in J K Gram, Thane from textile major Raymond Ltd for Rs 700 crore. The buyer, Virtuous Retail, will invest another Rs 1,700 crore to develop the site. The plot at Raymond Junction adjoining the Singhania School has…
Jio begins charging for calls to other networks

Jio begins charging for calls to other networks

NEW DELHI: Three years after it began services with the game-changing promise of free voice-calling, Reliance Jio will start charging customers for calls made to networks of other operators such as Airtel and Vodafone-Idea. Jio, which has raced to become the largest mobile company in India in these three years, apart from being the only…
Falling FD rates set to hit 4 crore senior citizens hard

Falling FD rates set to hit 4 crore senior citizens hard

MUMBAI: Senior citizens and retirees who primarily depend on income from fixed deposits in banks, may soon need to look at shifting part of their life's savings into debt mutual funds. On Wednesday, along with a cut in lending rates, banking major SBI also cut the FD rates for senior citizens for 1-2 years bracket…

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