The government is working on a proposal to incentivise digital transactions by providing cashbacks to businesses and price benefits to consumers, a source said.

As per the proposal being worked out by the Revenue Department, consumers paying through the digital mode would be offered a discount over the maximum retail price (MRP). The discount would be capped at Rs 100.

BENGALURU: Amazon’s international losses jumped 29% to $622 million for the quarter ending March 2018, as against $481 million for the corresponding period in the previous year. The web retailer’s year-on-year losses from its global business continue to rise largely due to its India investments.

WUHAN: In a move that could upset Pakistan, Prime Minister Narendra Modi and Chinese President Xi Jinping have agreed to undertake a joint India-China economic project in Afghanistan at their first informal summit here, official sources said.

The understanding was reached between the two leaders during the two-day informal summit which concluded today, they said.

Mumbai: In a bid to facilitate cheaper access of overseas funds, the Reserve Bank of India (RBI) on Friday further liberalized External Commercial Borrowings (ECB) policy by including more sectors in the window.

“It has been decided to increase the ECB Liability to Equity Ratio for ECB raised from direct foreign equity holder under the automatic route to 7:1. This ratio will not be applicable if total of all ECBs raised by an entity is up to USD 5 million or equivalent,” RBI said in a late night notification.

The Model T, the ’32 deuce coupe, the Thunderbird, the Mustang: For much of its 115-year history, Ford Motor Co. has been synonymous with cars.

But now Ford, one of the great engines of 20th Century American industry, is about to do the unthinkable: abandon the American car business almost entirely.

Mahindra & Mahindra Financial Services reported PAT of Rs 420 crore (5% miss). While net income was in line and provisions were lower than estimated (23% lower), higher one-time gratuity provisions and employee incentive cost led to the PAT miss.

Calculated NIM on AUM expanded 140bp q-o-q, led by yield expansion, as MMFS gained market share in used vehicles and non-M&M OEMs. b) Adj.

Reliance Industries (RIL) posted a better-than-expected financial performance for the January-March quarter of 2018, led by strong performance from the petrochemical, refining, retail and telecom businesses.

Net profit for the March quarter increased 17.3% year-on-year to Rs 9,435 crore, while revenue from operations (net of excise) increased by 37.83% to Rs 1,16,915 crore, largely led by increase in volumes with the start-up of new petrochemicals projects,

Wipro continues to under perform our revenue growth and margin expectations due to portfolio-specific issues that we think are likely to play out in Q119 as well. We believe this warrants a P/E multiple below peers; maintain underweight (UW).

Wipro reported revenue of $2,062 million (MSe $2,072 million). Revenue growth in constant-currency terms was 1.1% q-o-q (MSe 1.8% qoq).

The stock of Axis Bank gained 8.97%, on Friday, despite reporting its first-ever quarterly loss as investors were enthused by outgoing CEO Shikha Sharma’s declaration that the recognition of bad loans in this cycle is “nearly complete.”

The stock ended the session at Rs 538.90 on the BSE, and was the best performing Sensex stock on Friday.

Chanda Kochhar, the embattled chief of ICICI Bank, today made her maiden public appearance this evening after late last month reports emerged about allegations of conflict of interest involving her and her husband in extending loans to the Videocon Group.

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.