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However, on a sequential basis, the 2019 growth rate was far lower than the 18.60 per cent increase in passenger traffic during 2018.

India's current unemployment rate stands at 7.5 per cent as per Centre for Monitoring Indian Economy (CMIE). However, the unemployment rate for graduates stands at 18.5 per cent - more than twice the headline rate, according to data for the end of 2019 compiled by CMIE.

IMF Chief Economist Gita Gopinath said growth in India slowed sharply owing to stress in the non-bank financial sector and weak rural income growth.

The IMF said global growth would reach 3.3 per cent in 2020, compared to 2.9 per cent in 2019, which was the slowest pace since the financial crisis a decade ago.

The new board chaired by Mr Malik will file a report on the resolution framework to sort out the housing mess of Unitech within two months.

Union Finance Minister Nirmala Sitharaman will present Budget for financial year 2020-21 on February 1, 2020. The official preparation of Budget started on Monday with customary Halwa ceremony. Officials of the Finance Ministry, who are involved in the preparation of Budget documents move to the basement of North Block and remain cut off from their families for around 10 days. This is done to prevent any leaks before the annual Budget is presented. Union Budget is preceded by the presentation of Economic Survey by the Chief Economic Advisor. This year, Chief Economic Advisor to the government of India, Krishnamurthy Subramanian will present the Economic Survey on January 31.

The fiscal deficit for FY20 and its roadmap for FY21 could be heading towards a recalibration with the February Budget slated to hint at the targeted 3 per cent fiscal deficit for the next financial year be pushed to 2022-23, people associated with the developments said.

Nine of 11 sector gauges compiled by National Stock Exchange ended lower led by the Nifty Media index's 1.9 per cent fall.

According to the telecom department, Bharti Airtel owes around Rs 23,000 crore, Vodafone Idea Rs 19,823.71 crore and Reliance Communications Rs 16,456.47 crore.

Under the plan, Samsung Electronics will provide Rs 3,500 crore in loans and transfer a parcel of land in Noida for Rs 92 crore to its display unit.

Imports of thermal coal - used mainly for electricity generation - fell 10.7 per cent to 15.62 million tonnes in October.

Small Savings Scheme Interest Rates: The government reviews the interest rates on small savings schemes such as PPF on a quarterly basis at present. Among other small savings schemes available today, the Time Deposit scheme comes in four maturity options, ranging from one to five years.

Kotak Mahindra Bank's core income or the net interest income, the difference between interest earned and interest expended, came in at Rs 3,429.53 crore.

Domestic stock markets erased intraday gains on Monday with benchmark indices moving away from all-time highs registered earlier during the session. In afternoon deals, the S&P BSE Sensex fell as much as 350.54 points from the previous close to hit 41,594.83, and the broader NSE Nifty benchmark slid below the 12,250 mark, retreating from its all-time high of 12,430.50 registered in morning. Losses across most sectors led by banking, IT and energy stocks dragged the markets lower. Analysts awaited earnings announcements from large caps such as Kotak Mahindra Bank due later in the day.

Post market hours on Friday, HDFC Bank reported a stellar 32.8 per cent increase in its net profit for the quarter ended December 31, 2019. The private lender posted a consolidated net profit of Rs 7,416.5 crore in the third quarter of this fiscal, as opposed to Rs 5,585.8 crore in the corresponding quarter last fiscal. Net interest income (NII), the difference between interest earned and interest paid, for Q3 FY20 increased 19.9 per cent to Rs 14,173 crore on the back of growth in advances.