Business

Amid instances of apparent differences between the government and the RBI, Acharya emphasised that undermining a central bank's independence is akin to committing a "self goal" for any government.

Billionaires' wealth enjoyed its "greatest-ever" increase in 2017, rising 19 per cent to USD8.9 trillion shared among 2,158 individuals, said the report by Swiss banking giant UBS and auditors PwC.

After a weak opening, shares of the company further tanked 14.99 per cent to Rs 168.60 on BSE. It later recovered most of its sharp early losses and was trading at Rs 186.55, a fall of 5.95 per cent.

"All the four are promoters of the Sterling Group and have fled the country to avoid criminal probe against them in a Rs 8,100-crore bank loan fraud involving a consortium of banks," a senior official said.

The PPP model will be explored for promotion of IIS at select locations based on demand and available infrastructure.

Around 15 of the 78 payment companies in India are yet to comply with these norms, according to reports. These include Visa, Mastercard, and Amex.

The Finance Ministry on Sunday extended the deadline for filing summary sales return GSTR-3B for the month of September by five days to October 25.

A similar increase was seen in the retail markets, where the kitchen staple was quoted in the range of Rs 30-40 per kg depending on the quality and locality.

The report, which has also been shared with the Ministry of Corporate Affairs, carries analysis of large value frauds reported since March 31, 2017.

The extra supply indicates a willingness by Saudi Arabia to increase crude supply to make up the shortfall once sanctions by the United States on oil exports from Iran kick in.

Confining the plea to the loans taken on floating interest rates, it said so far as such home, education and consumer loans are concerned, the interest rates moved up or down depending on the interest rate situation.

Shares in the companies fell more than 20 percent to multi-year lows on Friday before recovering marginally

The scrip of IL&FS Engineering and Construction Company touched its upper circuit limit of Rs 25.32, up 10 per cent over its previous closing price.

Dealers said besides fresh selling of the US dollar by exporters, the greenback's weakness against some currencies overseas supported the rupee.

Jet Privilege, which has got millions of members, is majority owned (50.1 per cent rpt 50.1 per cent) by its equity partner Etihad Airways, which also owns 24 per cent in the carrier. The rest of the equity is held by the airline.

The present shareholders of IL&FS, including LIC, SBI and others will also take a call on participating in the Rs 4,500-crore rights issue only after the outcome of the board meeting.