Sensex ends down 363 points; banking stocks hit

The BSE Sensex fell 1.79 per cent while the Nifty ended down more than 2 per cent on Monday, marking their second consecutive session of declines, due to continued selling in rate-sensitive shares, especially banks such as State Bank of India, after a surprise rate hike by the Reserve Bank of India (RBI) on Friday.

The Nifty has fallen nearly 4 per cent over the last two sessions, while NSE's bank index has slumped more than 8 per cent in the same period after RBI Governor Raghuram Rajan shocked markets in his maiden policy review on Friday by raising interest rates.

Rupee drops for second day, closes at 62.60

Mumbai: The rupee extended its fall for a second straight session on Monday, hurt by sharp losses in the domestic share market following a surprise rate hike by the Reserve Bank of India (RBI) on Friday, while fears of a tapering by Fed in October also weighed.

The partially convertible rupee closed at 62.60/61 per dollar compared with 62.23/24 on Friday. The unit moved in a range of 62.34 to 62.73 during the session.

Porsche, Mercedes seized from disgraced Thai monk

Bangkok: Thailand has seized nearly $800,000 worth of assets, including a Porsche and a Mercedes-Benz, from a monk who was disrobed for a controversial trip in a private jet, authorities said Friday.

Thailand's Anti-Money Laundering Office (AMLO) said Wiraphon Sukphon was suspected of deceiving people to give him donations.

"Monks can receive donations and must use them for the benefit of the public, not for private use and their own personal comforts," Police Colonel Seehanat Prayoonrat, secretary of the AMLO, told AFP.

Wiraphon went by the name Luang Pu Nen Kham to bolster his claims to be the reincarnation of a famous miracle-performing monk.

Tata Motors plans to raise prices by up to 1.5%

Mumbai: Tata Motors Ltd, India's largest automaker by revenue, is looking to raise prices by 1 per cent-1.5 per cent across its range of commercial and passenger vehicles, following similar moves by rival carmakers.

Tata Sons to launch new airline in India

New Delhi: Tata Group and Singapore Airlines plan to form a full-service airline based in New Delhi, adding a deep-pocketed player to a fast-growing but competitive Indian aviation sector where most operators lose money.

The two will initially invest a combined $100 million to start the carrier, with Tata Sons owning 51 per cent and Singapore Airlines, Asia's second-biggest carrier by market capitalisation, the rest.

The power of small savings

"Someone's sitting in the shade today because someone planted a tree a long time ago." - Warren Buffett.


Common proverb 'filling the bucket, one drop at a time' demonstrates the power of small but consistent efforts towards achieving bigger things in life. However, this gets a whole new dimension when it comes to savings.

The ugly truth about minimum credit card bill payment

Do you pay only the minimum amount due on your credit card bill? Can this lead you to a vicious cycle of debt trap? Paying the minimum balance against a credit card is an unintelligent financial decision. Why is it so?