Business

The 30-share BSE Sensex settled 353.28 points, or 0.87 per cent, higher at 41,142.66. It hit an intra-day high of 41,154.66.

The US Justice Department has said that more than $ 4.5 billion was stolen from 1MDB by high-level officials and their associates between 2009 and 2015.

Titan was the biggest gainer in the Sensex pack, rallying 7.97 per cent, followed by ITC, HDFC, Bajaj Finance, and Tata Steel. On the other hand, Bajaj Auto and HUL were on the losing side.

Union Minister of State for Finance Anurag Thakur also said in Lok Sabha that scheduled commercial banks and select financial institutions have reported frauds to the tune of Rs 1,13,374 crore in the first half of the current financial year.

Finance Minister Nirmala Sitharaman while presenting the Budget 2020-21 on Saturday proposed to sell a part of government stake in LIC through an initial public offer next fiscal.

The government on Saturday proposed a new levy of 1 per cent TDS (tax deducted at source) on e-commerce transactions, a move that could increase burden on sellers on such platforms.

In a marginal hike, the defence budget was increased to Rs 3.37 lakh crore for 2020-21 against last year's Rs 3.18 lakh crore, notwithstanding expectations of a significantly higher allocation to fast-track long-pending military modernisation.

Sitharaman said Rs 3.50 lakh crore capital had been infused in public sector banks in the past years. However, she acknowledged that there was a need for greater private capital in banks.

The BSE Sensex plummeted 988 points on Saturday to close below the key 40,000-mark, led by an intense broad-based selloff after the Union Budget for 2020-21 failed to live up to market expectations.

Sitharaman’s second budget was broadly categorised into three major themes - aspirational India, economic development and building a caring society that is humane.

This insurance deposit amount is released only if the bank is shut down and not when it is temporarily restricted from conducting day-to-day operations.

The government estimates that economic growth in the year ending March 31 will slip to 5%, the weakest pace since the global financial crisis of 2008-09. Growth is expected to recover to 6%-6.5% in the following year.

Last year, the Finance Minister had turned eyes by carrying a ‘bahi-khata’, thereby ditching the traditional briefcase that her predecessors carried.

Witnessing a sharp decline at the fag end of the session, the 30-share BSE Sensex settled 190.33 points, or 0.47 per cent, lower at 40,723.49. It hit an intra-day low of 40,671.01 and a high of 41,154.49.

Many banks, including SBI, have informed customers that operations may be impacted to some extent due to the strike. The strike will coincide with the beginning of the Budget session of parliament and presentation of union Budget 2020-21.

The money will be given to Internews, a global non-profit, which will select a team of 250 journalists, fact checkers, academics and NGO workers for the project, a statement said.