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New Delhi: The country’s largest public sector bank The State Bank of India (SBI), collected rupees 1,771 crore as penalty charge from minimum balance savings accounts. SBI raked up as much as Rs 1,771 crore during April-November 2017 in Minimum Account Balance (MAB) charges, according to an Indian Express report. The amount surpasses the bank’s second quarter net profit of Rs 1,581.55 crore.

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NEW DELHI : Prime Minister Narendra Modi on Friday said that recommendations made by the GST Council will benefit citizens and add strength to the tax structure. "The recommendations made by the GST Council today will further benefit our citizens and add strength to the GST. These recommendations are in spirit of the continuous feedback we are getting from various stakeholders on GST," Modi said in a series of tweets.

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SAN FRANCISCO : Ride-hailing app Uber has announced that it will start its ambitious flying taxi project in Los Angeles by 2020 to deal with the city's traffic problem. When Uber's Chief Product Officer Jeff Holden on Wednesday revealed the plan at the Web Summit, a technology conference in Lisbon, the company also posted a 100-second-long video clip advertising the flying taxi project named "Elevate", reports Xinhua news agency.

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NEW DELHI : Demand for gold in India for third quarter (July-September) 2017 was at 145.9 tonnes down 24 per cent as compared to overall demand for the corresponding quarter in 2016, a World Gold Council (WGC) report showed here on Thursday. In 2016 Q3 the demand was 192.8 tonnes.

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MUMBAI : Global digital payments major PayPal on Wednesday announced its India operations, after offering cross-border payments in the country for close to a decade, the company said. In a statement issued here PayPal Holdings, Inc, said: "At launch, Indian consumers can use PayPal to shop online at some of India's most popular businesses. 

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NEW DELHI : The Supreme Court on Monday told Jaypee Associates to keep Rs 2,000 crore ready before its next hearing as it refused to permit it a part deposit of Rs 400 crore by Friday.

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NEW DELHI : The entire Indian agriculture value chain is set to change drastically and food processing is going to be one of the main industries of the country in the future, Finance Minister Arun Jaitley said on Friday.

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MUMBAI : Key Indian equity market indices opened flat on Friday following global cues. The 30-scrip Sensitive Index (Sensex) was trading at 12.97 points or 0.04 per cent higher during the early session. The wider 51-scrip Nifty of the National Stock Exchange (NSE) was trading at 2.15 points or 0.02 per cent lower at 10,421.65 points.

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NEW DELHI : E-commerce players like Amazon and Flipkart will be able to make airborne delivery of products to customers in India using drones enabled by technology being developed by the country's aviation sector, a minister announced on Thursday.

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NEW DELHI : With a net worth of $38 billion, Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped Forbes annual list of Indias 100 richest tycoons of 2017, a statement said here on Thursday.

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MUMBAI : Key Indian equity indices on Wednesday scaled record highs yet again as positive global cues, coupled with a strong rupee and robust buying activities in banking, metals and FMCG stocks, gave a boost to investor sentiments.

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MUMBAI : Facebook with over 217 million monthly active users in India is closely working with marketers and advertisers to discuss how the social media giant can help businesses drive growth. With 2.1 billion monthly active users globally, Facebook currently has 212 million monthly active users on smartphones in the country.

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NEW DELHI : Car maker Maruti Suzuki India on Wednesday said it sold 146,446 units in October, growing by 9.5 per cent over the same period last fiscal. Of the total, domestic sales were at 136,000 units, up by 9.9 per cent over the corresponding month a year ago, while exports stood at 10,446 units, an increase of 4.2 per cent over the corresponding month in 2016.

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NEW DELHI : India for the first time has moved into the top 100 in the World Banks Ease of Doing Business global rankings from its 130th position last year, riding on sustained government reforms which include making tax paying easier, according to the banks latest report released here on Tuesday.

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MUMBAI : State-run State Bank of India (SBI) on Monday announced the sanction of loans worth Rs 2,317 crore in collaboration with the World Bank to finance grid-connected solar rooftop projects in the country. SBI Chairman Rajnish Kumar told reporters here that it has availed line of credit facilities worth $625 million from World Bank for onward lending to viable solar rooftop projects. 

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NEW DELHI : NITI Aayog Vice Chairman Rajiv Kumar on Monday said policy formulation and designs are often "very elitist" in India and that a small minority drives the policy paradigm for the greater majority. At an event organised by The Energy and Resources Institute (TERI) here, Kumar added that policy-making in India was at the crossroads.

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MUMBAI : Key Indian equity indices on Monday scaled fresh highs during the mid-afternoon trade session due to broadly positive global cues along with a strong rupee and healthy buying in consumer durables, automobile and oil and gas stocks.

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MUMBAI : The government's Rs. 2.11 lakh crore plan to recapitalise public sector banks is a major step to restore the banking system's health and safeguard the countrys economic future, RBI Governor Urjit Patel said on Wednesday. "The government's decisive package to restore the health of the Indian banking system is in the view of the Reserve Bank of India a monumental step forward in safeguarding the country's economic future," Patel said in a statement.

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BENGALURU : Emerging out of boardroom battles and troubled times, software major Infosys Ltd decided to continue with its market-driven strategy, said a top official on Tuesday. "Our strategic direction will continue to be driven with a portfolio of market relevant design, consulting and technology services, enabled by software," Infosys Interim Chief Executive U.B Pravin Rao said in a statement here.

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NEW DELHI : Hiring activity in the banking and financial services sector witnessed a 21 per cent growth during September this year compared to the same period last year, a report by job portal Naukri.com said on Monday. Even as the job market in the country remains "volatile", Naukri Jobspeak Report, a monthly analysis of job listings on the portal, shows the overall job market has seen three per cent growth in September, compared to the same period last year.

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NEW DELHI : India'ss largest commodity exchange MCX on Tuesday launched options trading in gold with Finance Minister Arun Jaitley describing it as one of the steps towards formalising gold trade in the country. "This marks a very important evolution in trading of the yellow metal itself. It hedges all risks by giving traders the option of futures," Jaitley said after launching the options trade at a ceremony here.

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NEW DELHI : India's annual rate of inflation based on wholesale prices eased in September to 2.6 per cent, official data showed here on Monday.

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MUMBAI : Both the key Indian equity indices on Monday touched record highs soon after opening. The 30-scrip Sensitive Index (Sensex) was trading 234.05 points or 0.72 per cent higher soon after opening. The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 71.05 points or 0.70 per cent higher at 10,238.50 points.

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WASHINGTON : Most of India's pending issues with Iran, especially those relating to payment for import of Iranian oil, have been resolved, Finance Minister Arun Jaitley has said. "There were several pending issues with Iran, particularly relating to the oil payment. Most of them have been resolved," he told reporters on Saturday following a meeting here with Iranian Finance Minister Masoud Karbasian.

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WASHINGTON : The unique identity number given to over a billion Indians by the Aadhaar card had helped India save $9 billion in preventing misuse of its beneficiary welfare schemes, said its architect Nandan Nilekani. "By having a unique number, you eliminate fakes and duplicates from your beneficiary and employee lists. That alone has saved the government $9 billion," said Nilekani at a World Bank panel discussion on 'Digital Economy for Development' here on Thursday.

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SAN FRANCISCO : A week after Apple said it is looking into incidents of iPhone 8 batteries swelling and phones being left split apart, the first such case has been reported in the US. A Best Buy employee posted on Reddit to report that his store had received a bulging iPhone 8 as a return. He had also supplied an image along with his post, BGR reported late on Thursday. It is likely that this may not be the last incident.

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WASHINGTON : Finance Minister Arun Jaitley on Friday said the slowdown effect of demonetisation and GST roll-out on the Indian economy has played out and the country's growth is now headed towards being more balanced and sustainable. "The Indian economy is poised for strong, sustainable and balanced growth backed by the government's strong focus on implementing structural reforms. 

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MUMBAI : Surpassing its previous record, the wider Nifty50 of the National Stock Exchange (NSE) hit a fresh intra-day high of 10,179.15 points on Friday. Previously, the Nifty50 scaled a high of 10,178.95 points on an intra-day basis on September 19. At 1.50 p.m., the index traded at 10,167.10 points -- up 70.70 points or 0.70 per cent.

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NEW DELHI : Indian Commerce Minister Suresh Prabhu has invited Swedish firms to explore business opportunities in India and assured potential investors all support, an official statement said on Thursday. According to the Commerce Ministry statement, the "Make in India: Sweden 2017" event began on Thursday in Stockholm in order to enhance Indo-Swedish cooperation and explore new areas of partnership.

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NEW DELHI : Bharti Airtel and Tata on Thursday announced that they have entered into an understanding to merge Consumer Mobile Businesses (CMB) of Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra Limited (TTML) into Bharti Airtel. The acquisition is subject to requisite regulatory approvals, the statement said without revealing the acquisition amount.

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NEW DELHI : Reliance Jio has announced a new Jio Diwali Dhan Dhana Dhan offer that would give its subscribers 100 per cent cashback on a recharge of Rs 399, according to sources. "All Jio customers who would recharge in this offer period (October 12 - 18) with Rs 399 will be eligible for a 100 per cent cashback offer of Rs 400 in the form of 8 vouchers of Rs 50 denomination," the sources said.

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BENGALURU : Bengaluru has emerged as the largest consumer of home appliances and televisions across the country for the Diwali festive season, said global e-tailer Amazon India on Wednesday.

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MUMBAI : The key Indian equity indices were on Tuesday afternoon trading higher following positive trends from Asian markets. The 30-scrip Sensitive Index (Sensex) was trading 85.22 points, or 0.27 per cent, higher during the afternoon session. The wider 51-scrip Nifty of the National Stock Exchange (NSE) was also trading higher at 10,042.70 points -- up 25.75 points or 0.26 per cent.

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MUMBAI : Continuing with gains for the third consecutive session, key Indian equity indices on Tuesday closed in the green on the back of broadly positive global cues and healthy buying in capital goods, banking and healthcare stocks. The wider Nifty50 of the National Stock Exchange (NSE) at the time of closing held on to the psychologically important 10,000-mark, which was reclaimed on Monday on an intra-day basis.

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NEW DELHI : Delhi Metro on Tuesday hiked its fares despite opposition from the Delhi government, eliciting mostly negative responses from commuters. Barring the minimum fare of Rs 10 for a distance of 0-2 km, which will remain the same, fares have risen from Tuesday for long distance travel. This is the second fare hike by Delhi Metro this year.

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DUBLIN : Microsoft has signed a 15-year wind energy agreement with GE in Ireland, becoming one of the first global technology firms to support a new wind project in the country. Microsoft will purchase 100 per cent of the wind energy from its new, 37-megawatt Tullahennel wind farm in County Kerry, Ireland. The agreement will help support the growing demand for Microsoft Cloud services from Ireland, the company said in a statement late on Monday.

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