Economy & Nation

Prepaid tariff hikes earlier this month along with the moratorium on spectrum payments announced by the government will not be a complete solution for the telecom sector in India, which is reeling under acute financial stress, says a research note.   In the report, Acuité Ratings and...
The Reserve Bank of India on Friday announced it has decided to make the National Electronic Funds Transfer (NEFT) system available on a round-the-clock basis from December 16.   The facility is used to electronically transfer funds from one account to another of banks which are...
Maruti Suzuki on Friday announced to recall 63,493 units of 'petrol smart hybrid' variants of Ciaz, Ertiga and XL6 models due to a likely issue with their motor generator units (MGU).   In a regulatory filing, the company said: "A possible defect may have occurred in the MGU during...

Indian banks are likely to take significantly more loan write-offs against a backdrop of rising provisions and weak recovery prospects, says Fitch Ratings.    In a report, the ratings agency says, "Resolution delays coupled with rising provision cover on large legacy bad loans,...
The Reserve Bank of India (RBI) will introduce a new type of prepaid payment instrument (PPI) which could be used only for purchase of goods and services up to a limit of Rs 10,000.   Accordingly, the loading of such PPI will be only through a bank account and it could be used for...

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