bank of india

India cuts tax on overseas borrowings (Lead)


September 21st, 2012 - 8:34 pm ICT by IANS
New Delhi, Sep 21 (IANS) In yet another move to draw in international capital, the Indian government Friday reduced tax on overseas borrowings by domestic companies to five percent from ... Read more...

Posted in Business |

Gang of fraudsters busted, three arrested from UP


September 19th, 2012 - 11:10 pm ICT by IANS
New Delhi, Sep 19 (IANS) Three members of an international gang of fraudsters have been arrested for duping hundreds of people in the country of crores of rupees, police said ... Read more...

Posted in Uncategorized |

Sensex down 46 points; oil and gas, IT stocks fall (Roundup)


September 18th, 2012 - 6:24 pm ICT by IANS
Mumbai, Sep 18 (IANS) Snapping a nine-day rally, a benchmark index of Indian equities markets closed 46 points down Tuesday due to selling pressure in oil and gas, IT and ... Read more...

Posted in Business |

More steps soon for fiscal consolidation: Chidambaram


September 17th, 2012 - 11:24 pm ICT by IANS
New Delhi, Sep 17 (IANS) The government will take more steps in coming months to ensure fiscal consolidation and boost economic growth, Finance Minister P. Chidambaram said Monday.Talking to reporters ... Read more...

Posted in Business |

Sensex closes 78 points up to touch 14-month high (Roundup)


September 17th, 2012 - 11:23 pm ICT by IANS
Mumbai, Sep 17 (IANS) A benchmark index of Indian equities market edged 78 points higher to close at a 14-month high Monday on the back of capital goods, banks and ... Read more...

Posted in Business |

Inflation to be high till fiscal consolidation is complete: Experts


September 17th, 2012 - 11:23 pm ICT by IANS
Chennai, Sep 17 (IANS) The Reserve Bank of India (RBI) has decided to wait till the effects of current fiscal consolidation is complete before tweaking the policy rates, a top ... Read more...

Posted in Business |

Rs.17,000 crore released into banking system; retail interest rates expected to fall (Roundup)


September 17th, 2012 - 11:22 pm ICT by IANS
Mumbai, Sep 17 (IANS) The Reserve Bank of India (RBI) Monday kept key interest rates unchanged, but cut the cash reserve ratio (CRR) releasing Rs.17,000 crore into the banking system ... Read more...

Posted in Business |

Diesel price hike will be double whammy: India Inc. leaders


September 14th, 2012 - 4:52 pm ICT by IANS
Kolkata, Sep 14 (IANS) The government's move to raise diesel prices by Rs.5 a litre has come under strong criticism from members of India Inc. who foresee a double whammy ... Read more...

Posted in Business |

India’s inflation soars to 7.55 percent in August (Lead)


September 14th, 2012 - 4:33 pm ICT by IANS
New Delhi, Sep 14 (IANS) Driven by a sharp increase in food prices, inflation rose to 7.55 percent in August from 6.87 percent in July, government data showed Friday.The more-than-expected ... Read more...

Posted in Business |

Inflation rises to 7.55 percent in August


September 14th, 2012 - 3:45 pm ICT by IANS
New Delhi, Sep 14 (IANS) India's inflation soared to 7.55 percent in August compared to 6.87 percent in July, largely driven by a sharp hike in prices of food items, ... Read more...

Posted in Business |

Kerala could be hub of financial services: KPMG


September 14th, 2012 - 3:45 pm ICT by IANS
Kochi, Sep 14 (IANS) Narayanan Ramaswamy, partner, KPMG, one of the largest professional services company in the world, Friday said that given Kerala's high literacy rate and availability of ... Read more...

Posted in Business |

SBI Cards expects Rs.2,700 crore total asset base


September 13th, 2012 - 6:45 pm ICT by IANS
Kolkata, Sep 13 (IANS) SBI Cards, the second largest credit cards issuing firm in India, is expecting that its total asset base would be around Rs.2,700 crore at the ... Read more...

Posted in Business |

Sensex closes flat, FMCG, PSU stocks up (Roundup)


September 13th, 2012 - 6:41 pm ICT by IANS
Mumbai, Sep 13 (IANS) A benchmark index of Indian equities markets closed flat Thursday while keeping to the 18,000-mark level reached a day before.The 30-scrip sensitive index (Sensex) of ... Read more...

Posted in Business |

Indian bank opens branch in South Africa


September 13th, 2012 - 1:52 pm ICT by IANS
Johannesburg, Sep 13 (IANS) State-owned Bank of India (BoI) has opened its first branch here in a move to enhance the relationship between South Africa and India while contributing ... Read more...

Posted in Business |

United Bank cuts interest rates on loans above Rs.1 crore


September 11th, 2012 - 6:07 pm ICT by IANS
Kolkata, Sep 11 (IANS) United Bank of India has reduced interest rates by 0.75 percent to 2.75 percent on medium and small loans above Rs.1 crore with effect from Sep ... Read more...

Posted in Business |

Sensex closes flat; metal, healthcare stocks gain (Lead)


September 10th, 2012 - 5:37 pm ICT by IANS
Mumbai, Sep 10 (IANS) A benchmark index of Indian equities markets closed 17 points up Monday with metals, health care and consumer durables stocks gaining.The 30-scrip sensitive index (Sensex) ... Read more...

Posted in Business |

Sensex marginally up; metal, healthcare stocks rally


September 10th, 2012 - 1:32 pm ICT by IANS
Mumbai, Sep 10 (IANS) A benchmark index of Indian equities markets was trading 5.82 points higher around 11.30 am trade Monday, as metals, health care and consumer durables stocks ... Read more...

Posted in Business |

Micro-financing empowers women in Jammu and Kashmir


September 9th, 2012 - 7:04 pm ICT by IANS
Jammu, Sep 9 (IANS) Microfinance is empowering women, especially the poor and widows, in Jammu and Kashmir, thanks to NGO Kashmir Women's Credit Cooperative Ltd (KWCCL) that is providing loans ... Read more...

Posted in National |

Remittances to India rose to $66.13 bn in 2011-12


September 7th, 2012 - 9:34 pm ICT by IANS
New Delhi, Sep 7 (IANS) Remittances to India surged to $66.13 billion in 2011-12 as compared to $55.62 billion in the previous year, Minister of Overseas Indian Affairs Vayalar Ravi ... Read more...

Posted in Business |

Poultry farming brings prosperity to Rajasthan Dalit village


September 7th, 2012 - 1:40 pm ICT by IANS
Jaipur, Sep 7 (IANS) Till five years ago, Kanchanpura was a just small village in Rajasthan's Bharatpur district. Today it is in the limelight for successful poultry farming that has ... Read more...

Posted in Business |

SBI cuts interest rates on NRE deposits by 0.50 percent


September 5th, 2012 - 5:54 pm ICT by IANS
New Delhi, Sep 5 (IANS) State Bank of India (SBI), the country's largest lender, said Wednesday it will cut interest rates on fixed deposits on non-resident external rupee (NRE) ... Read more...

Posted in Uncategorized |

SBI cuts fixed deposit rates by up to 1 percent


September 5th, 2012 - 5:21 pm ICT by IANS
New Delhi, Sep 5 (IANS) The country's largest lender State Bank of India (SBI) said Wednesday it will cut interest rates on term deposits by 0.50 percent to 1 ... Read more...

Posted in Business |

Jayalalithaa orders Sri Lanka football teams to return


September 2nd, 2012 - 9:18 pm ICT by IANS
Chennai, Sep 2 (IANS) Reinforcing her anti-Sri Lankan stance, Tamil Nadu Chief Minister J. Jayalalithaa Sunday ordered the return of two football teams from the island nation that are in ... Read more...

Posted in Politics |

Sensex closes 160 points down on low GDP report (Roundup)


August 31st, 2012 - 7:48 pm ICT by IANS
Mumbai, Aug 31 (IANS) A benchmark index of Indian equities markets Friday closed 160 points lower as fresh data showed India's gross domestic product (GDP) grew at a much ... Read more...

Posted in Business |

RBI asks people not to invest in illegal finance companies


August 31st, 2012 - 5:47 pm ICT by IANS
Udaipur (Tripura), Aug 31 (IANS) The Reserve Bank of India (RBI) Friday asked people in the northeast not to deposit money in unauthorised non-banking financial companies (NBFCs) and institutions expecting ... Read more...

Posted in Business |

Now Rs.1,000 notes with rupee symbol


August 28th, 2012 - 5:15 pm ICT by IANS
Mumbai, Aug 28 (IANS) The Reserve Bank of India (RBI) said Tuesday it will soon issue Rs.1,000 denomination notes with the rupee symbol and improved security features.A RBI statement said ... Read more...

Posted in Business |

SIDBI to be first to raise funds through ECB


August 27th, 2012 - 10:13 pm ICT by IANS
Kolkata, Aug 27 (IANS) The Small Industries Development Bank of India (SIDBI) Monday said it would be first finance company to raise funds through external commercial borrowing (ECB) after the ... Read more...

Posted in Business |

India inc favours investments in equities, mutual funds


August 27th, 2012 - 9:36 pm ICT by IANS
Bangalore, Aug 27 (IANS) India Inc is in favour of investments in equities and mutual funds than in gold to improve the balance of payments (BoP) and reduce the ... Read more...

Posted in Business |

RBI ticks off SBI chairman


August 27th, 2012 - 9:07 pm ICT by IANS
Chennai, Aug 27 (IANS) A senior Reserve Bank of India (RBI) official Monday ticked off the chairman of State Bank of India (SBI) in public, saying he should look ... Read more...

Posted in Business |

India’s forex reserves decline by $250 million


August 25th, 2012 - 5:21 pm ICT by IANS
Mumbai, Aug 25 (IANS) India's foreign exchange (forex) reserves declined by $250 million to $288.91 billion for the week ended Aug 17, 2012, the Reserve Bank of India's (RBI) data ... Read more...

Posted in Business |

ICAI favours keeping banks’ current advance limit unchanged


August 24th, 2012 - 9:07 pm ICT by IANS
Kolkata, Aug 24 (IANS) The Institute of Chartered Accountants of India (ICAI) will appeal to the finance minister to retain the current advance limit of bank branches for purpose ... Read more...

Posted in Business |

RBI to float global tender on polymer bank notes


August 24th, 2012 - 6:27 pm ICT by IANS
Shillong, Aug 24 (IANS) The Reserve Bank of India (RBI) would soon float global tender for introducing polymer currency notes, Deputy Governor K.C. Chakrabarty said Friday."We have already submitted our ... Read more...

Posted in Business |

SBI wants CRR phased out for ‘more efficient’ banking (Lead)


August 23rd, 2012 - 10:38 pm ICT by IANS
Kolkata, Aug 23 (IANS) The country's largest public sector lender, the State Bank of India (SBI) has strongly proposed phasing out of Cash Reserve Ratio (CRR) to make ithe ... Read more...

Posted in Business |

Policy reform, cuts in government spending required: RBI


August 23rd, 2012 - 9:36 pm ICT by IANS
Mumbai, August 23 (IANS) The Reserve Bank of India said Thursday that lower interest rates alone would not help put the economy on the growth track, and the government needs ... Read more...

Posted in Business |

SBI expects another Rs.40 billion capital infusion


August 23rd, 2012 - 7:36 pm ICT by IANS
Kolkata, Aug 23 (IANS) The State Bank of India (SBI) Thursday said its meeting with the central government on capital infusion could take place this week and that it ... Read more...

Posted in Business |

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