Business

The employers' contribution was reduced from 4.75 to 3.25 per cent and employees' contribution from 1.75 to 0.75 per cent.

The agenda of the meeting is expected to be on the need to tell the lenders to ease credit flow to micro, small and medium enterprises (MSMEs) and small borrowers.

The sale proceed will enable the company to substantially reduce its debt-to-equity ratio and restart the business to its full potential, sources added.

Following up on the announcement of June 6 after the bi-monthly monetary policy review, the RBI said it has reviewed the various charges levied by it on the member banks for transactions through the RTGS and NEFT systems.

The Crisil report comes at a time when most banks are at the cusp of an end of the NPA pains after a prolonged period, and are concentrating on the resolution now.

On February 16 this year, taking strong economic action against Pakistan following the attack, India raised the customs duty to 200 per cent on all goods imported from the neighbouring country.

Indian Ambassador to China Vikram Misri said the economic and commercial engagement between India and China constitutes a major component of the bilateral relations with bilateral trade, which crossed $95 billion last year.

The Reserve Bank of India's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy today.

The IMF's estimate does not include Trump's threatened 5% tariffs on goods from Mexico over immigration issues and ratcheting up monthly.

The Kolkata-based lender registered a loss of Rs 4,674 crore in 2017-18 and a loss of Rs 279 crore during 2016-17.

The benchmark BSE Sensex closed down 0.46% at 40,083.54 on Tuesday. The broader NSE Nifty ended 0.55% lower at 12,021.65.

In the last review, the RBI noted that there have been some signs of weakening in the domestic investment activity and revised its GDP projection downwards for FY20 from 7.4% to 7.2%.

After scaling lifetime highs in the previous session, the 30-share index was trading 15.27 points, or 0.04 per cent, lower at 40,252.35.

Selling of the American currency by exporters, fresh foreign fund inflows and easing crude oil prices supported the rupee.

The RBI had retained its neutral stance after the rate cut in April but traders said a change in this stance to accommodative" will be more comforting for markets than just a rate cut, especially after the recent GDP numbers.

The airline is looking to have an 80 per cent capacity expansion in terms of Available Seat Kilometre (ASK), an indicator of seat capacity.