State-owned telecom firm BSNL plans to raise Rs 5,000 crore through soft loans immediately in order to meet its operational expenses.

Department of Telecommunications (DoT) has given a letter of comfort to the cash-starved BSNL for raising loans, which is a guarantee from the government.

In a major step towards income-tax proceedings becoming completely faceless, the Income Tax Department under the finance ministry will launch a new mechanism to verify taxpayers' returns shortly.

A notification in this regard was issued by the finance ministry on Wednesday.

Mumbai: The Reserve Bank of India (RBI) on Thursday named State Bank of India (SBI), ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs), which in other words mean banks that are too big to fail.

As per the norms, these banks will have to set aside more capital for their continued operation. RBI comes with the list every year since 2015.

Five people, including three women, were killed and over 30 injured after major portion of a foot overbridge near a busy train station in south Mumbai collapsed on Thursday evening, officials said.

The bridge, which connected the area near the Times of India building with the iconic Chhatrapati Shivaji Terminus railway station station, was commonly called 'Kasab bridge' as the 26/11 Mumbai attack terrorist passed through it during the strike.

Chile has found another use for dams that hold the liquid waste from massive copper-mining operations: power generation.

Calling it the first project of its kind in the world, Anglo American Plc has installed 256 photovoltaic panels at the tailings dam for its Los Bronces complex in Chile. The panels are floating atop the sometimes-toxic ground minerals and effluents blasted out of rocks dug up at the mine. The pilot project is expected to generate 150,000 kilowatt-hours a year and help power the operations there, the company said in a statement on Thursday.

Multiple fatalities were inflicted at two mosques in the New Zealand city of Christchurch on Friday when at least one gunman opened fire on worshippers, police said.

Witnesses told media that a man dressed in a military-style, camouflage outfit, and carrying an automatic rifle had started randomly shooting people in the Al Noor mosque.

Air India announced it is suspending its flights on Delhi-Madrid and Delhi-Birmingham routes from March 16 till further notice due to “operational reasons”.

As Pakistan has kept its airspace closed since February 26 due to the Balakot air strike by Indian air force, Air India’s expenditure on flights to Europe and the US have significantly increased.

New Delhi: The government has released pending dues of Rs 171 crore to cash-strapped MTNL for paying February salaries to employees, a senior official said.

On the other hand, BSNL will clear salary dues of around Rs 850 crore by March 20 from its internal accruals. Both companies have failed to pay salaries of their employees for last month, according to employees' representatives.

New Delhi: Grappling a shortfall in tax revenues, the government has pressed cash-rich PSUs like Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) to pay a second interim dividend for the current fiscal after seeking regulatory nods.

While IOC has called a board meeting on March 19 to consider paying a second interim dividend, ONGC has declined saying it does not have surplus cash to make such payments within a month of an interim dividend payout, sources with direct knowledge of the development said.

HDFC Bank, the country’s most valuable lender, on Wednesday achieved a key milestone on the bourses — when the market capitalisation of its share crossed the Rs 6 trillion (lakh crore) mark.

The private sector bank becomes the third company after Reliance Industries and Tata Consultancy Services to achieve this feat.

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