Indian markets surged today after news agency Reuters, citing sources, reported that the government is likely to exempt foreign portfolio investors from an increase in taxes that was part of the budget. The budget announcement on taxation has adversely impacted investor sentiments and is reflected in the FPI outflows from the equity markets. Since budget, Indian markets have fallen nearly 8%.

Paytm’s QR-based payment service PayPay launched in Japan in partnership with SoftBank and Yahoo Japan last October has hit 10-million user target along with 1 million stores and 100 million transactions, Paytm Founder and CEO Vijay Shekhar Sharma tweeted on Thursday. Around mid-July 2019, the service had already acquired 8 million customers in the Japan market.

As the automotive industry faces its worst slowdown in the past two decades, Anand Mahindra, chairman, M&M, has sought a re-look at the vehicle registration fees and rollback of increase in road tax of state governments after the introduction of goods and services tax (GST).

The Supreme Court on Wednesday gave a week’s time to the operational creditors of bankrupt Essar Steel to challenge the new amendments to the Insolvency and Bankruptcy Code, which granted more powers to the lenders. A bench led by justice RF Nariman deferred the hearing on a batch of appeals till August 19 so as to decide the issue in light of fresh challenges following recent amendments.

Hyundai Motor India on Wednesday unveiled the first glimpse and announced the name of its new hatchback, the Grand i10 Nios. The overall design theme of Grand i10 Nios is focussed to create an advanced hatchback with cues from Indian architecture. The name ‘Nios’ means ‘more’ and depicts the persona of the athletic millennial offering more value, more features, more space and more excitement.

State Bank of India (SBI), the country’s largest lender, on Wednesday announced a 15 basis point (bps) cut in its marginal cost of fund based lending rate (MCLR) across all tenors soon after the RBI cut its repo rate by 35 bps on Wednesday.

This is for the first time after the 2008-2009 financial crisis that the Reserve Bank of India (RBI) is cutting rates back to back to nudge growth, taking advantage of mild inflation.

RBI has cut the rate at which it lends money to banks (repo rate) by another 0.35% to 5.40 %, the fourth consecutive cut in a row and the lowest in the last nine years.

A woman's nose was allegedly cut off by her in-laws after she refused to withdraw the case of triple talaq.

"We got a complaint in which a man gave triple talaq over the phone. Both families have been called and a counselling attempt was made. When the matter was not resolved, we have filed the case under the relevant section of the triple talaq act. The woman was beaten up and was admitted to the hospital. She sustained injuries on her nose," police said.

Punjab National Bank (PNB) has recovered Rs 278.66 crore as penalty in the financial year 2018-19 from the poor account holders for not maintaining a minimum balance.

This was revealed after an RTI activist in Madhya Pradesh's Neemuch district, Chandrashekhar Gaur sought information from the PNB on the amount recovered from the account holders in the last two financial years for not maintaining a minimum balance in savings and current account.

Pakistan has closed a corridor in its airspace, which will result in an additional up to12 minutes of flying time for overseas flights, an Air India official said on Wednesday.

The flights will have to be diverted to other routes due to the closure, the official said.

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