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Aircel network problem enrages customers in Chennai, Assam; here’s what happened

Aircel network problem: Aircel had joined hands with Reliance Communications last year where both the companies mutually agreed to merge the business after the fierce competition offered by Reliance Jio. However, the deal could not materialise and had a fallout. Customers of telecom service provider Aircel on Wednesday virtually laid siege to some of its outlets in Chennai after the ... Read More »

Maruti Suzuki gains 3% post Q3 nos, cut in royalty; analysts see up to 22% return

Brokerages were very upbeat on the stock and hiked target price to as high as Rs 11,000-plus as well. Shares of Maruti Suzuki gained over 3 percent intraday on Monday as investors cheered the December quarter results. They largely reacted to the development of lesser royalty payouts by the firm, which it announced during the results declaration. The company reported a 3 ... Read More »

Budget 2018: Oil ministry seeks cut in excise duty on petrol, diesel to cushion impact of rising crude prices

New Delhi/Mumbai: The oil ministry is pushing for a cut in excise duty on petrol and diesel in the upcoming 2018/19 budget to cushion the impact of rising oil prices on its vast consumer base, two oil ministry officials told Reuters on Monday. Prime Minister Narendra Modi, who faces elections in key states later this year, and a nationwide election ... Read More »

Indian rupee opens lower after hitting 2.5 year high

The Indian rupee on Wednesday slipped in early trade and opened lower by 7 paise at Rs. 63.55 per dollar versus Rs. 63.48 on Tuesday, where the local currency was up by 0.31 percent from its previous closing. The rupee on Tuesday had also hit its highest level against the dollar in about two and-a-half years amidst signs of weakness ... Read More »

Bail-in: Here’s why SBI report says small depositors have nothing to worry about

The FRDI Bill establishes a Resolution Corporation which will monitor the financial firms such as banks, insurance companies, stock exchanges, and depositories and pre-empt their failure, and resolve or liquidate them in case of failure. There has been considerable disquiet over the draft Financial Resolution and Deposit Insurance (FRDI) Bill. Industry chamber Assocham has also jumped into the ‘bail-in’ debate ... Read More »

GST rate revision: CBEC asks consumer goods companies to immediately revise MRP on products

New Delhi: The Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna has written to Fast-Moving Consumer Goods (FMCG) companies asking them to immediately revise maximum retail price (MRP) on all products in line with the latest reduction in GST rates. The Goods and Services Tax (GST) rate was reduced on 178 items including detergents, shampoos and beauty products, ... Read More »