Business Highlights

Following are the top business stories at 2010 hours: DEL63 BIZ-EPFO-INTEREST Govt ratifies 8.1 pc EPF interest rate for 2021-22 New Delhi: The government has approved 8.1 per cent rate of interest on employees' provident fund (EPF) deposits for 2021-22 -- an over four-decade low -- for about five crore subscribers of retirement fund body EPFO.

DEL47 BIZ-LD STOCKS Markets succumb to fag-end sell-off; close higher for the week Mumbai: Equity indices swooned in the last hour of trade on Friday to close with modest losses as risk-on sentiment remained subdued ahead of the RBI's policy decision next week.

DEL70 BIZ-LD RUPEE Rupee pares initial gains, settles 6 paise lower at 77.66 per USD Mumbai: The rupee pared initial gains and settled 6 paise lower at 77.66 against the US dollar on Friday, in line with a muted trend in domestic equities.

DEL48 BIZ-GOYAL-RESTAURANTS Restaurants cannot add service charge in food bills: Goyal New Delhi: Food and Consumer Affairs Minister Piyush Goyal on Friday asserted that restaurants cannot add 'service charge' to the food bills, though customers at their discretion can give ''tips'' separately.

DCM18 BIZ-ESSAR POWER-ADANI Essar Power sells transmission line to Adani Transmission for Rs 1,913 cr New Delhi: Essar Power Ltd on Friday said it has agreed to sell one of its two electricity transmission lines to Adani Transmission Ltd for Rs 1,913 crore.

DEL66 BIZ-RBI-FOREX RESERVES Forex reserves up by USD 3.854 bn to USD 601.363 bn Mumbai: The country's foreign exchange reserves increased by USD 3.854 billion to USD 601.363 billion in the week ended May 27, according to RBI data.

DCM3 BIZ-TATA PROJECTS-JEWAR AIRPORT Tata Projects to construct Noida International Airport at Jewar Mumbai: Tata Group's infrastructure and construction arm, Tata Projects, has bagged the contract to construct the upcoming Noida International Airport at Jewar, in Uttar Pradesh.

DCM28 BIZ-SEBI-POONAWALLA FINANCE Sebi revokes securities market ban on Poonawalla Finance's MD Abhay Bhutada in insider trading case New Delhi: Sebi on Friday revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of Magma Fincorp, which is now known as Poonawalla Fincorp. DCM20 BIZ-COALINDIA-IMPORT Govt asks CIL to be ready to import 12 mn tonnes of coal for power utilities New Delhi: The government has directed state-owned CIL to be prepared to import 12 million tonnes (MT) of coal for power utilities for the next 13 months.

DCM26 BIZ-GOYAL-WHEAT EXPORTS Govt will take strict action against wheat exporters who submit back-dated documents: Goyal New Delhi: The government will take strict action against exporters who are trying to ship or have shipped wheat by submitting back-dated and improper documents following the ban on exports of the crop, Commerce and Industry Minister Piyush Goyal said on Friday.

DEL33 BIZ-GOLD-PRICE Gold climbs Rs 294; silver jumps Rs 523 New Delhi: Gold prices rose by Rs 294 to Rs 51,236 per 10 grams in the national capital on Friday, according to HDFC Securities.