Business

The proposals are aimed at building a transactions history of an individual to enable improved credit access and financial inclusion.

Successive shareholders who spoke at the 34th Annual General Meeting of Infosys suggested that he should be brought back to the company as his name is synonymous with Infosys.

Union Finance Minister Arun Jaitley said that the feedback he is receiving is that investors need a stable policy regime and the Indian government is committed to that.

The rupee opened higher at 64.05 from its previous close of 64.16 at the Interbank Foreign Exchange (Forex) market on initial selling of dollars by banks and exporters.

India's wholesale prices fell at a slower-than-expected annual rate of 2.36% in May, their seventh straight fall, mainly on the back of plunging oil and manufacturing goods prices, government data showed on Monday.

India has approved interest-free loans for cash-strapped sugar mills to help them pay nearly 30% of the record $3.3 billion they owe cane farmers, many of whom are struggling with huge debts as the first country-wide drought in six years looms.

Taxman should instill the fear of "incarceration, loss of liberty and social opprobrium" in tax evaders and prosecute them in large numbers to create a credible deterrence against the menace of black money, the CBDT says.

EMIs on home and auto loans will come down with SBI and other banks cutting lending rates within hours of RBI on Tuesday slashing policy rate by 0.25 per cent for the third time this year.

The reverse repo rate stands adjusted to 6.25 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 8.25 per cent.

Arun Jaitley said it's too early to consider the improvement in the bad loan situation last quarter as a "turnaround" and was keeping his fingers crossed.

Noting that policy rates cannot be reduced significantly below zero, though a number of European countries are testing these limits, Rajan said equilibrium long term interest rates may stay higher than levels necessary to incentivise investments.

The rupee resumed higher at 63.45 per dollar as against the last weekend's level of 63.51 at the Interbank Foreign Exchange (Forex) Market on initial selling of dollars by some banks and importers.

The Sensex closed down 0.44 per cent at 26,599.11, while the broader Nifty fell 0.49 per cent to 8,057.30.

Outside investors in India have previously paid 15 percent on short-term listed equity gains, 5 percent on gains from bonds, and nothing on long-term gains, but from late last year many firms received notices requiring them to pay the so-called Minimum Al...