Business highlights

Shagun Walia

New Delhi, Nov 8 (PTI) Following are the top business stories at 1825 hours: DEL8 BIZ-MOODYS-LD INDIA RATINGBlow to India: Moody's cuts India's credit rating outlook to negative; Govt rebutsNew Delhi: In a blow to India, Moody's Investors Service has cut country's credit rating outlook to negative - the first step towards a downgrade, saying the government has been partly ineffective in addressing economic weakness, leading to rising risks that growth will remain lower. DEL7 BIZ-MOODYS-GOVT-REAXFinMin says fundamental of Indian eco robust, reforms to stimulate investmentsNew Delhi: The government on Friday reacted strongly to Moody's Investor Service changing its outlook on India's ratings to negative, saying the fundamentals of the economy remain quite robust and series of reforms undertaken recently would stimulate investments. DCM2 BIZ-DEMO-CASH-HOARDING On DeMo anniversary, former FinMin official Garg says Rs 2,000 notes being hoardedNew Delhi: On the third anniversary of demonetisation, former economic affairs secretary S C Garg said the Rs 2,000 note, which the Modi government brought replacing older 500 and 1,000 notes, were being hoarded and should be demonetised. DEL39 BIZ-RBI-CHARGESNo levying of charges on NEFT payment from January: RBI to banksMumbai: Come January 2020, and customers may not have to pay any charges for transactions done through the popular NEFT system.

DEL57 BIZ-BSNL-VRSOver 40,000 employees have opted for BSNL VRS so far: ChairmanNew Delhi: The number of BSNL employees who have opted for the company's voluntary retirement scheme has exceeded 40,000 within three days of the state-owned corporation announcing it, a top official said on Friday. DCM33 BIZ-FM-IRSRevenue intelligence officers should act as facilitators for taxpayers, says FMFaridabad: Finance Minister Nirmala Sitharaman on Friday asked revenue intelligence officials to be 'facilitators' for taxpayers and ensure they do not feel intimidated when it comes to paying taxes.

DEL31 BIZ-IRDAI-HEALTH INSURANCEHealth insurance policy packages may soon offer vouchers for gym membership, protein supplementsNew Delhi: Health insurance holders may soon get vouchers for yoga centre, gymnasium memberships and even for buying protein supplements, with regulator Irdai proposing new guidelines to promote wellness among people.

DEL51 BIZ-RUPEE CLOSERupee tumbles 31 paise on India's rating downgrade Mumbai: The rupee on Friday plummeted by 31 paise to hit an over three-week low of 71.28 against the US dollar after Moody's Investors Services cut India's rating outlook to negative citing growth concerns.

DEL49 BIZ-ONION-IMPORTGovt's MMTC to import substantial quantity of onions to check price riseNew Delhi: To keep a lid on rising retail prices of onion which have skyrocketed up to Rs 100 per kg, the Centre on Friday decided to import 'substantial' quantity of the key kitchen staple from Dubai and other countries to augment the domestic availability.

DEL41 BIZ-LD STOCKSSensex skids from record high as Moody's cuts India credit outlookMumbai: Equity benchmark BSE Sensex tumbled 330 points on Friday as investors pressed the exit button after Moody's cut India's credit rating outlook citing growth concerns.

DCM14 BIZ-RESULTS-M&MM&M Q2 profit down 78 pc at Rs 368 croreNew Delhi: Mahindra & Mahindra on Friday reported 78.44 per cent decline in consolidated profit after tax (PAT) at Rs 368.43 crore for the quarter ended September 30, 2019.

PTI SHWSHW