SENSEX-TRUECOLUMN Business Featured National 

SENSEX JUMPS OVER 300 POINTS

After the appointment of new RBI Governor, the equity bench mark BSE SENSEX jumps over 300 points in the early trade on Wednesday. NIFTY also rose by 98.50 points or 0.93%, to 10,647.65. The 30-share index was trading higher by 324.94 points, or 0.92%, at 35,474.95. All the sectoral indices, led by banking, auto, and consumer durables stocks were trading in the positive zone. Brokers said that the investor sentiment got a boost after the appointment of the new RBI Governor on hopes that it will now address the liquidity…

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Business Featured Technology 

HCL Technologies to acquire IBM’S Software product

The country’s third largest software services firm HCL Technologies has announced on Thursday that it will acquire IBM software products for $1.8 billion.  The acquisition which is the largest in the history of HCL is expected to close by mid-2019. HCL Technology said that the product in which HCL is acquiring is in large growing market areas like securities, marketing, and commerce. The products which represent a total addressable market of more than $50 billion includes, App scan for secure application development, BigFix for secure device management, Unica for marketing automation,…

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Vijay Mallya | National News | Business News Business Featured 

Vijay Mallya offers to return 100% of the Loans and Public Money

The politician and business tycoon Vijay Mallya who was charged in the case of liquor and money laundering. Mallya said on Wednesday that he will pay back the entire principal amount of Rs. 5,500 crore as he owned from various banks. And he also said that he will return 100% of public money.  Vijay Mallya who is being investigated for fraud and money laundering has been living in the United Kingdom for the past two years. Vijay Mallya who fled away in 2016 to U.K. is wanted in India over a default of…

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RUPEE-TRUECOLUMN Business Featured 

Rupee falls 9% to 70.55 against US dollar in early trade

With the rising price of crude oils, rupee falls by 9 percent to 70.55 percent in early trade at the interbank foreign market on foreign funds outflow. Foreign dealers said that there is a fresh demand from the American currency from importers amid rising in crude oil prices weighed on the domestic unit. After the rise, the rupee opened lower at 70.50 per dollar and dropped further to quote at 70.55, 9 paise over its previous close. On Monday the local unit snapped the four days rising streak and dropped…

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sbi national news Business Featured National 

STATE BANK OF INDIA has increased interest rate on fixed deposit

Unlike every other bank like HDFC Bank, ICICI Bank and Axis Bank were rising their fixed deposit rate. The Indian Public sector bank, State Bank of India also implemented yesterday, the revised rate on fixed deposits. The SBI’s FD rate has been only hiked for two types of tenure, while the other remaining interest rate will be the same. India’s largest lender State Bank Of India has lifted up the interest rate of fixed deposit by 5-10 basis point with the maturity period of one -two years. This decision has…

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RBI reserve - truecolumn Business Featured 

Where does Country’s biggest Bank funds comes from?

The country’s biggest bank, Reserve Bank of India (RBI) is holding a big share of its profits as a reserve and its balance sheet includes around Rs. 36.2 lakh crore. The 26% of the reserve comes with foreign and Indian government securities especially currency notes having interest rate against the government borrowings. As per the estimates, RBI is holding 556 tons of gold with the forex assets thus making up 77% of its total assets. The major reserve of RBI reserve constitutes those from the Currency and Gold Revaluation Account…

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walmart - truecolumn Business 

Walmart to shed one-third of employees at Jabong, merge with Myntra

As a process for the merger of Myntra and Jabong is going on, Walmart started to shed about one-third of the employees at Jabong after the ouster of Flipkart CEO, Binny Bansal. As the 40% of the workforce is predicted to be out, the chief financial officer of Myntra and Jabong, Dipanjan Basu also stepped down. Basu who joined Myntra in 2016 was the Vice-president at Wipro Digital. The move to trim the employees is confirmed by the Myntra Chief Ananth Narayanan who wrote a letter to the employees and…

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top 5 richest women - truecolumn Business 

Meet the top 5 richest women of India

Time has attached wheels with it and this is better known by the present statics which shows the growing worth of not even the known ruling men over the years but also the entry of billionaire women in India with the passing time. Here, giving you the list of most successful and worthy Indian women entrepreneurs who not only broke the orthodox thinking of the society but nailed it by surpassing many among them. Savitri Jindal Handling the worth of USD 5.2 billion, Savitri Jindal is the chairperson of the…

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RBI- truecolumn Business 

Neither Government nor RBI in favour of liberating data localization norms

Putting an end to the speculations by the data companies for the deadline of the data localization norms, the Government and Reserve Bank of India (RBI) have said on Monday that they were not in the favour of extending the last date. A senior government official said that they will not allow data mirroring by payment firms as an alternative to store data locally. Earlier, RBI has made it mandatory to all the payment companies like MasterCard, Visa or American Express to preserve their data locally and submit its compliance…

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RBI policy rates- truecolumn Business 

Rupee crossed 74 mark against US Dollar, RBI Policy rates surprised all

Sinking day by day to an all-time low, Rupee has crossed the unbelievable mark of 74 against US Dollar on Friday thus creating a massive disturbance in the stock market. Meanwhile, the RBI has announced its fourth bi-monthly policy rates today thus surprising everyone for the unchanged Repo Rate. The repo rate at which RBI lends money to the commercial banks was expected to be increased by 25 basis points or 0.25% but it is kept still at 6.5% as against raised on August and July this year. The five-panel…

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