Supply of coal to the power sector by state-owned CIL declined by 2.6 per cent to 80.9 million tonnes in the first two months of the ongoing fiscal, Government data showed.

This comes amid coal imports rising 12.9 per cent to 235.2 million tonnes (MT) in FY’19 over 208.2 MT imported in FY’18.

India has moved down one place to 74th rank in terms of money parked by its citizens and enterprises with Swiss banks, while the UK has retained its top position, as per data released by the central banking authority of the Alpine nation.

India was ranked 73rd last year, after jumping 15 places from its 88th position a year ago.

New Delhi: Terming the transition to Bharat Stage VI (BS-VI) emission norms from April next year as "joker in the pack", Bajaj Auto Ltd has cautioned that there could be dumping of old BS-IV stock in the domestic market, triggering an "unwarranted price war" in the second half of the ongoing fiscal.

New Delhi: State-run telecom firm Bharat Sanchar Nigam Ltd (BSNL) on Saturday cleared June salary of all its employees, while it awaits clearance of around ₹14,000 crore in dues from the telecom department.

"BSNL has cleared salary payments of all employees for June from internal accruals of about ₹2,000 crore," an official source, who did not wish to be named, told PTI.

The second largest private sector lender ICICI Bank has cut its lending rates by 0.10 percent which will make all the loans cheaper, sources said Monday. The move comes weeks after it cut its deposit rates and amid calls for banks to quickly pass on the benefits of rate cuts by the RBI, which stands at a full 75 bps since February. The bank has cut its marginal cost of funds based lending rate (MCLR) across all tenors by 0.10 percent, they said adding the new rates are effective immediately.

The Securities Appellate Tribunal has imposed a fine on regulator Sebi for an adjudicating officer’s order that resulted in litigation and “harrassment” for a former official of BGIL Films & Technologies. It is a rare instance wherein the Securities Appellate Tribunal (SAT) has penalised the regulator for alleged lapses.

Axis Bank’s (AXSB’s) annual report analysis reveals the bank’s focus on improving its earnings metrics and asset quality. As part of its FY20-22 strategy, AXSB targets an RoE of 18% by FY22, with credit cost, opex and business mix identified as the key drivers for the achievement of this goal. Digital initiatives at the bank are gaining traction, with 43% of its personal loans sourced digitally versus 22% in FY18.

Bitcoin slumped, undoing some of this year’s epic rally and amplifying a recent trend of outsized weekend moves. The price of the largest cryptocurrency fell 11% since Friday and traded at $10,901.43 as of 8:15 a.m. in Tokyo. It’s still up about 200% since the start of the year. Other coins also dropped: Ethereum -4.2%, Ripple -5.1%.

Domestic equity benchmark BSE Sensex rallied over 200 points Monday, tracking positive cues from global equities amid easing trade tension between the US and China. The 30-share index was trading 249.57 points, or 0.63 per cent, higher at 39,644.21 at 0930 hours. Similarly, the broader NSE Nifty was quoting 71.35 points, or 0.61 per cent, up at 11,860.20.

The rupee opened on a strong note and rose 17 paise to 68.86 against the US dollar in early trade Monday tracking gains in domestic equities, even as crude oil prices firmed up. Forex traders said, rupee appreciated on reports that Chinese President Xi Jinping and his American counterpart Donald Trump at the G20 summit have agreed to re-launch the stalled negotiations to end the trade war.

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