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Government eases norms for change of address on Aadhaar Mint
The government has allowed migrants to change address on Aadhaar by giving self declaration, a move aimed at helping them open bank account and promote financial inclusion. The changes were made by amending the Prevention of Money-laundering (Maintenance of Records) Rules, as per a gazette notification issued on Wednesday.
Over 80,000 employees of BSNL, MTNL apply for voluntary retirement Financial Express
Over 80,000 employees of BSNL and MTNL have already applied for the voluntary retirement scheme (VRS) notified by the companies last week. Going by the response, it seems that the firms are set to achieve their target of 94,000 employees.
Sensex struggles in early trade, Infosys top loser Surajit Dasgupta, Mint
Indian markets struggled in early trade today with Sensex up about 41 points while Nifty held above 11,900. Infosys was the top loser in the Sensex pack, down about 1%. Infosys has received another whistleblower complaint against chief executive Salil Parekh of misdemeanours, days after a similar letter prompted the company’s board to institute an independent probe.
Auto industry in reverse gear despite marginal rise in October passenger vehicle sales India Today
The ailing auto sector showed slight signs of improvement during festive sales but no enough to pull the sector out of a demand crisis. While experts believed that the festive season would help in mitigating losses caused to the auto industry due to the slowdown, there has been hardly any improvement with respect to October passenger vehicles' sales.
BSE, NSE shut today on account of Guru Nanak Jayanti Rakesh Patil, Money Control
The Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) will remain closed on November 12 on account of Guru Nanak Jayanti. Wholesale commodity markets, including metal and bullion, will also remain shut to mark the 550 birth anniversary of the founder of Sikhism.
India’s industrial output declines by 4.3%, records steepest fall in 8 years NewsMinute
Contraction in manufacturing and mining activity and subdued demand dragged India's September factory output deep into the red. The Index of Industrial Production (IIP) declined (-)4.3 per cent in September from (-)1.40 per cent in August 2019.
ITS officers seek to exit from BSNL, MTNL; demand fair representation in BSNL board selection Muntazir Abbas, Economic Times
The officers of the Indian Telecommunication Services (ITS) have demanded the Centre to repatriate them from the state-owned telecom companies— Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited (MTNL), and sought to widen the selection procedure of BSNL board directors, following the three vacancies.
Sensex edges lower, RIL, TCS, Infosys weigh Surajit Dasgupta, Mint
Indian markets wobbled in early trade today, with Sensex down about 50 points at 40,276. The Niftyedging higher after a weak start. The Sensex was up 50 points while Nifty was holding above 11,900. ICICI Bank was down about 1% while Sun Pharma fell about 3%.
57,000 BSNL employees opted for VRS scheme in four days: Govt Mint
As many as 57,000 employees of public sector undertaking Bharat Sanchar Nigam Ltd (BSNL) have already availed themselves of the voluntary retirement scheme that was rolled out on 5 November, news agency PTI reported on Sunday. The figures when combined with those of state-owned MTNL exceed 60,000.
Centre considers raising insurance for deposits, more RBI scrutiny for banks Rajeev Jayaswal, Hindustan Times
The government is considering increasing the insurance on bank deposits to more than the Rs 1 lakh at present, with greater protection for senior citizens, and may bring all financial institutions under the Reserve Bank of India’s scrutiny as part of measures to improve safeguards for depositors.
Indian economy currently facing challenges, says FM Nirmala Sitharaman Business Standard
Finance Minister Nirmala Sitharaman on Sunday said the economy was currently facing challenges, even as she unveiled a book on global finance. Launching The Rise of Finance: Causes, Consequences and Cure, she said the book would help “understand the current economic situation facing both the world and Indian economy”.
SBI cuts lending rates, loans to get cheaper Surajit Dasgupta, Mint
ndia's biggest bank State Bank of India or SBI today lowered lending rates, making loans cheaper. SBI cut its MCLR or marginal cost of fund based lending rate by 5 basis points across all tenors, its 7th consecutive cut in borrowing rates in FY 2019-20. 
RBI issues new compensation norms for pvt, foreign bank honchos Money Control
The Reserve Bank on November 4 issued compensation guidelines for whole-time directors and chief executives of foreign, private, small finance, payments banks and local area banks mandating the cash component of variable pay at 67 percent.
Indian telecom has been a bad dream for foreign investors: Marten Pieters, Former CEO, Vodafone India Gulveen Aulakh, Economic Times
The Supreme Court’s decision on the contentious issue of adjusted gross revenue (AGR) has reinforced the belief that foreign investments in telecom haven’t paid off, former Vodafone India chief executive officer Marten Pieters told ET.
Sensex struggles in early trade, Yes Bank shares surge Surajit Dasgupta, Mint
Indian markets struggled in early trade after the recent record-setting run. The Sensex was up about 80 points while Nifty was near 11,950. Shares of Yes Bank surged nearly 9% today in early trade.
Rakesh Jhunjunwala buys Yes Bank shares worth ₹87 crore Swaraj Singh Dhanjal, Mint
Ace stock market investor Rakesh Jhunjunwala on Monday bought Yes Bank shares worth ?87 crore, according to data from stock exchanges. Jhunjunwala bought 12.95 million shares of the lender at a price of ?67.1 apiece, data shows.
BSNL: Domestic telecom industry likely to shed 100,000 jobs Economic Times
Nearly 100,000 jobs in the domestic telecom sector are at risk following continued non-clearance of outstanding worth Rs 20,000 crore from the state-controlled telecom operator Bharat Sanchar Nigam Limited (BSNL).
Sensex pauses after record-setting rally, Yes Bank shares fall ahead of Q2 Surajit Dasgupta, Mint
fter a wobbly start, benchmark stock market indices Sensex and Nifty gained some momentum as buying emerged in banking, FMCG and auto stocks. The Sensex was up 130 points at 40,259 while Nifty was above 11,900. The broader markets were also firm with BSE midcap index and small cap indices up about 0.5% and 0.6%.
Shares of grounded Jet Airways inexplicably soar by 50% Ravindra N Sonavane, Mint
Shares of grounded carrier Jet Airways India Ltd have surged inexplicably more than 50% in the last eight sessions even as the airline has not been operating for more than six months. The stock hit the 5% upper circuit for eight consecutive trading sessions, gaining 50.5% during the period. At 11.24 am, the stock traded at ?22.60 on the BSE, up 5% from its previous close. So far this year the scrip has declined a massive 92%.
Vodafone may exit India operations as losses mount: IANS report NewsMinute
The telecom regulatory world is abuzz with feverish talk that the imperilled telecom operator, Vodafone, is ready to exit its India operations. An email questionnaire was sent by IANS to a Vodafone-Idea spokesperson in India. IANS, in turn was asked to direct the queries to Ben Padovan, Group Head of Corporate Communications, Vodafone Group Plc.
Government aims to save Rs 7,500 crore from BSNL’s 80,000 employees exit Economic Times
The Centre is expecting to save nearly 50% or Rs 7,500 crore out of the Bharat Sanchar Nigam Limited (BSNL) wage bill, from the current Rs 14, 155 crore annual spend, following the Voluntary Retirement Scheme (VRS) to 80,000 workforce.
Bharti Airtel Q2 India mobile revenue rises 0.8% on quarter Economic Times
Bharti Airtel deferred the release of its audited second-quarter results to November 14 to get “more clarity” on the implications of a Supreme Court order that upheld the definition of adjusted gross revenue (AGR) for telcos to include their non-core income streams.
12 Jhunjhunwala stocks tanked 20% to 90% in Samvat 2075; others rallied up to 90% to make up Economic Times
Samvat 2075, the traditional Hindu accounting year which ends on Saturday, proved very disappointing for India’s biggest individual investor Rakesh Jhunjhunwala. Subdued performance of the equity market amid a crippling economic slowdown dealt a big blow to the Big Bull with about a dozen of his portfolio stocks eroding value in large proportions.
Age tells; maintenance costs mar IndiGo Q2 results, stock down 9% Pallavi Pengonda, Mint
InterGlobe Aviation Ltd’s reported loss of over Rs1,000 crore for the seasonally weak September quarter was way larger than what investors expected. One reason for this massive loss was because the airline had to make a provision worth Rs320 crore towards maintenance on its older A320ceo aircrafts, resulting in a sharp spike in maintenance costs.
After marathon Income Tax raid, godman Kalki Bhagwan faces ED heat MC Rajan, Hindustan Times
The Enforcement Directorate has registered a case against self-styled godman Kalki Bhagwan and his son NKV Krishna, and initiated a probe into the seizure of Rs 20 crore in dollars and purchase of assets abroad through hawala transactions, officials said Thursday.
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