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Shadow banks in India pay more for foreign funds

NEW DELHI: Shadow banks in India are being forced to go overseas more for money as local lenders balk at extending funds, flagging strains in a key industry for an economy that’s already sputtering.The country’s non-banking financial…

GST collections in May at Rs 1 lakh crore

NEW DELHI: GST collections touched Rs 1 lakh crore in May, as compared to Rs 94,016 crore in the year ago period, the government said on Saturday.The gross collection in May at Rs 1,00,289 crore is, however, lower than Rs 1,13,865 crore…

Nirav Modi approaches UK high court for bail

LONDON: Nirav Modi, wanted by India in fraud and money laundering charges amounting to nearly $2 billion, on Friday applied for bail in the UK high court.The Crown Prosecution Service (CPS) said the hearing for his bail petition will take…

Uber's Q1 losses reach $1B despite revenue growth

Uber is continuing to bleed money even as it posts dramatic revenue growth.In its first financial report since its lackluster debut on Wall Street, Uber said Thursday that its revenue rose to $3.1 billion in the first quarter of 2019,…

US removes India from its currency monitoring list

WASHINGTON: The Trump administration on Tuesday removed India from its currency monitoring list of major trading partners, citing certain developments and steps being taken by New Delhi which address some of its major concerns.Switzerland…