MUMBAI: The Reserve Bank of India (RBI) is likely to give a go-ahead to an Enforcement Directorate (ED) probe into Board of Control for Cricket in India’s (BCCI) foreign remittances of close to Rs 2,000 crore without its prior approval during 2009-15, rejecting an exemption request from the board.

BCCI chief executive Rahul Johri and chief financial officer Santosh Rangnekar had met senior RBI officials last week to explain why the money related to the nowdefunct Champions League T20 (CLT20) tournament was remitted overseas without express approval from the banking regulator, RBI insiders said.

NEW DELHI: India’s largest carmaker Maruti Suzuki is evaluating the commercial launch of a small electric car next year amid challenges such as high prices along with lack of adequate charging facilities at the disposal of potential buyers.

While the company will be ready with a vehicle in 2020, the launch will depend on the willingness of buyers to pay more for an electric version, said Maruti Suzuki chairman RC Bhargava.

New Delhi/Berne: As Switzerland strives hard to re-establish its global financial centre position after clamping down on secrecy walls of its banks, there has been a significant surge in the number of cases where it has initiated process to share information on Indians with Swiss bank accounts and shot off letters to about a dozen such individuals last week itself.

New Delhi: Realty major DLF reduced its net debt by 38 per cent during the fourth quarter of last fiscal to Rs 4,483 crore with the help of funds raised from selling shares to institutional investors.

According to an investors presentation, DLF's net debt has come down "from Rs 7,224 crore in Q3 of FY19 to Rs 4,483 crore in Q4 of FY19".

Mumbai: The benchmark BSE Sensex jumped over 100 points in early trade on Monday driven by gains in banking stocks amid unabated foreign fund inflow.

The 30-share index was trading 128.27 points, or 0.33 per cent, higher at 39,562.99. Similarly, the broader NSE Nifty spurted 28.75 points, or 0.24 per cent, to 11,872.85.

Hyundai Motor India Ltd (HMIL) will bring its fuel cell SUV, the Nexo, to India soon after it launches its fully electric SUV Kona in July this year.

However, the company was not keen to launch hybrid powertrains as the current GST structure did not offer any relaxation on such models, Puneet Anand, senior general manager and group head (marketing) of HMIL, had said on the sidelines of the launch of the Venue in New Delhi.

Sydney: Bitcoin soared to the highest level in a year, extending a run that’s seen prices more than double.

The largest cryptocurrency climbed about 8% Monday to its highest since May 2018, and was trading at $8,678.58 as of 8 a.m. in Tokyo.

MUMBAI: State-run Air India Ltd’s latest bid to sell its real estate assets has found few takers. The national carrier could sell less than 10 of the 56 properties that were put up for sale in April, according to two people directly aware of the development.

The reserve price of these properties, mostly residential units, ranged from ₹16 lakh to about ₹8 crore and were located in cities such as Mumbai, Delhi, Pune, Bengaluru, Chennai and Kolkata.

Prime Minister Narendra Modi's thumping election victory is dividing analysts on India’s rupee.

Citigroup Inc. is positioning for a weaker rupee using options after the currency’s recent outperformance, while Nomura Holdings Inc. expects the sweep of Modi’s win to attract robust overseas flows to the nation’s assets, giving another leg to the rally.

The next meeting of the GST (goods and services tax) Council could take place as early as next week after approval from the new finance minister. The focus will be on tackling the unfinished agenda requiring immediate attention like tax structure for solar projects, uniform tax rate on state-organised and state-authorised lotteries, taxing non-potable alcohol besides certain changes in the law, extension for the National Anti-profiteering Authority (NAA) and rate rationalisation.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.