Business

Logging its first weekly rise in four weeks, the benchmark BSE Sensex on Friday zoomed over 200 points and Nifty rallied past 8,200-mark on continued value-buying amid steady progress in monsoon.

The broader 50-issue NSE Nifty breached the 8,100-mark to hit session's high of 8,136.85.

Continuing its fall for the third straight day, rupee slipped 10 paise against the American unit to 64.16 on persistent dollar demand from banks and importers on the back of strong greenback in the global market.

Regulator Sebi on Thursday barred two individuals from securities markets for five years for involvement in fraudulent trading in the shares of Sword-Edge Commercials Ltd.

Bills for postpaid mobile service, piped gas and water supply can now be submitted as proof of address for opening account with banks, says RBI.

Sentiment was hit by monsoon making marginal progress and caution ahead of macro data -- IIP for April and CPI for May.

ICICI Bank will focus on leveraging technology to deliver innovative banking solutions and on capitalising growth opportunities as the economy grows, Chief Chanda Kochhar has said.

The stock fell by 2.91 per cent to settle at Rs 6,010.80 on the BSE. During the day, it slipped 6.31 per cent to Rs 5,800.10.

Welcoming rate cut by RBI, the government on Tuesday said a recovering economy needs policy support and the third reduction in interest rates in 2015 was consistent with trend in economy including strongly declining inflation.

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 provides for a minimum penalty of Rs 50,000.

Beside the nation-wide strike call, unions of associate banks - under SSBEA - have also called for a strike on June 4 in their respective cities pressing for their demands.

New Delhi is nudging Reserve Bank of India to lower lending rates from 7.5 per cent at a policy meeting on Tuesday.

The benchmark BSE Sensex on Thursday slipped by 57 points to close at 27,506.71 points due to across the board selling mainly in pharma, banking and oil stocks as the monthly derivatives contracts expired on Thursday.

A recovery in India's credit growth could elude the country's banks until early 2016, despite an economy that in the first three months of 2015 is expected to have outpaced China.

There is no proposal to introduce currency notes of Rs 15 denomination, Parliament was informed on Friday.

Remittances to the developing world are expected to reach $440 billion in 2015, an increase of 0.9 per cent over the previous year.