SIDBI may achieve 21 percent credit growth by March-end
February 10th, 2012 - 7:05 pm ICT by IANS
Kolkata, Feb 10 (IANS) The Small Industries Development Bank of India (SIDBI), which finances the Micro, Small and Medium Enterprise (MSME) sector, Friday said it might clock an year-on-year credit ... Read more...
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Industrial output sluggish in December, grows at 1.8 percent
February 10th, 2012 - 3:20 pm ICT by IANS
New Delhi, Feb 10 (IANS) Pulled down by negative capital goods production, India's industrial output in December grew at a snail's pace at 1.8 percent, underlining the slowdown in the ... Read more...
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Tea exporters turn to Russia following Iran crisis
February 8th, 2012 - 7:49 pm ICT by IANS
Kolkata, Feb 8 (IANS) Indian tea exporters are trying to increase exports to Russia as a balancing act following the country's declining export trend mainly due to the Iran payment ... Read more...
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India, Iran firm up oil payment mechanism (Lead)
February 7th, 2012 - 7:18 pm ICT by IANS
New Delhi, Feb 7 (IANS) Asserting that sanctions from the US can't harm its relations with India, Iran Tuesday said Indian companies will pay for 45 percent of their crude ... Read more...
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Indian economy to grow by 6.9 percent this fiscal (Lead)
February 7th, 2012 - 3:26 pm ICT by IANS
New Delhi, Feb 7 (IANS) The government Tuesday said the Indian economy is expected to expand by 6.9 percent in the current fiscal -- the slowest in three years ... Read more...
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Surge in foreign fund flow into infrastructure
February 5th, 2012 - 6:07 pm ICT by IANS
New Delhi, Feb 5 (IANS) Overseas investors are increasingly pumping money into India's infrastructure sector, especially in the power, oil and gas, telecom and iron and steel segments, due to ... Read more...
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India’s forex reserves rise by $673.4 mn
February 5th, 2012 - 3:40 pm ICT by IANS
Mumbai, Feb 5 (IANS) India's foreign exchange reserves increased by $673.4 million to $293.93 billion for the week ended Jan 27, Reserve Bank of India data showed.The forex reserves ... Read more...
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Indian markets rally for the fifth straight week (Weekly market review)
February 4th, 2012 - 3:50 pm ICT by IANS
Mumbai, Feb 4 (IANS) Indian equities markets rallied for the fifth consecutive week with investors buoyed by the hope that the economy could shrug off the sluggishness of the ... Read more...
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Indian banks can absorb 2G licence losses: Fitch Ratings
February 3rd, 2012 - 10:44 pm ICT by IANS
Chennai, Feb 3 (IANS) The Indian banking sector should be able to weather the loan losses from the cancellation of second generation (2G) spectrum licences by the Supreme Court ... Read more...
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Rupee climbs to 3-month high of 48.68 against dollar
February 3rd, 2012 - 7:45 pm ICT by IANS
Mumbai, Feb 3 (IANS) The Indian rupee climbed to a three-month high of 48.68 against the dollar on the back of continued inflows of funds by overseas investors into ... Read more...
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Indian economy will grow 7-7.5 percent in 2011-12: PM
February 3rd, 2012 - 2:46 pm ICT by IANS
New Delhi, Feb 3 (IANS) India's economic growth will decline in the range of 7-7.5 percent in the current financial year ending March 31 as compared to 8.4 percent ... Read more...
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2G licence cancellation to affect banks
February 2nd, 2012 - 6:34 pm ICT by IANS
New Delhi, Feb 2 (IANS) Major lenders including State Bank of India and Punjab National Bank have lent money to most of the telecom firms whose 2G licences will ... Read more...
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UCO Bank might get capital infusion of Rs.2 billion
February 1st, 2012 - 11:54 pm ICT by IANS
Kolkata, Feb 1 (IANS) City-based UCO Bank Wednesday said it might get capital infusion of Rs.2 billion-odd from the central government for this financial year."We might get some capital from ... Read more...
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Noida seals offices in residential areas
February 1st, 2012 - 11:43 pm ICT by IANS
Noida, Feb 1 (IANS) The Noida Authority Wednesday began implementing the Supreme Court directive against commercial establishments being run from residential areas, sealing 11 premises, including eight banks.The establishments ... Read more...
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National Postal Policy to be announced in 2012: Sibal
February 1st, 2012 - 3:40 pm ICT by IANS
New Delhi, Feb 1 (IANS) A policy targeting expansion and modernisation of the postal network would be announced this year, Communications Minister Kapil Sibal said Wednesday and added that ... Read more...
Posted in Sci-Tech |
United Bank of India’s Q3 net up by 38.5 percent
January 31st, 2012 - 9:12 pm ICT by IANS
Kolkata, Jan 31 (IANS) Public sector lender United Bank of India Tuesday reported a 38.5 percent jump in its net profit in the quarter ended Dec 31, 2011 to Rs.2.26 ... Read more...
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Sensex closes January with 11 percent gain, best in 16 months (Roundup)
January 31st, 2012 - 7:10 pm ICT by IANS
Mumbai, Jan 31 (IANS) A benchmark index for Indian equities rallied 336 points to close January with a whopping 11.24 percent gain -- the best monthly performance since September ... Read more...
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RBI for more open market operations
January 30th, 2012 - 11:52 pm ICT by IANS
Chennai, Jan 30 (IANS) India's central bank is open to more open market operations to address the issue of liquidity, said a senior official Monday."We are open to more open ... Read more...
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Allahabad Bank not yet looking at interest rates cut: Official
January 30th, 2012 - 11:34 pm ICT by IANS
Kolkata, Jan 30 (IANS) Kolkata-based Allahabad Bank Monday said it is not yet looking at slashing interest rates."I do not think the time has come as yet (to reduce interest ... Read more...
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Sensex continues in red in noon trade (Lead)
January 30th, 2012 - 2:00 pm ICT by IANS
Mumbai, Jan 30 (IANS) A benchmark index for Indian equities Monday noon continued to trade in the red, amid selling pressure in blue-chip stocks like RIL and ICICI Bank. ... Read more...
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Overseas investors bullish, pump in over $1.78 bn
January 29th, 2012 - 4:00 pm ICT by IANS
Mumbai, Jan 29 (IANS) Foreign institutional investors (FIIs) have been bullish over Indian equities markets since 2012 opened as declining inflation and a clear signal from the Reserve Bank ... Read more...
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India’s forex reserves rise by $731.8 million
January 28th, 2012 - 4:11 pm ICT by IANS
Mumbai, Jan 28 (IANS) After the sixth straight weekly decline, India's foreign exchange reserves rose by $731.8 million to $293.25 billion for the week ended Jan 20, the reserve bank ... Read more...
Posted in Business |
Sensex rises for fourth straight week; up 495 points (Weekly market review)
January 28th, 2012 - 4:10 pm ICT by IANS
Mumbai, Jan 28 (IANS) A benchmark index for Indian equities markets rallied nearly three percent in this week's trade, closing in the positive for the fourth straight week on ... Read more...
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Banks to be held responsible for fake notes in ATMs
January 27th, 2012 - 8:50 pm ICT by IANS
Chennai, Jan 27 (IANS) Banks are responsible for any fake notes dispensed by their automatic teller machines (ATMs) and should compensate customers for the loss when fraudsters withdraw money from ... Read more...
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RBI to act against banks not beefing up cyber security
January 27th, 2012 - 7:41 pm ICT by IANS
Chennai, Jan 27 (IANS) The Reserve Bank of India (RBI) will act against banks that do not implement its guidelines on electronic security of their transactions and operations by October ... Read more...
Posted in Sci-Tech |
Bank of India quarterly net profit rises 10 percent
January 27th, 2012 - 7:00 pm ICT by IANS
Mumbai, Jan 27 (IANS) State-owned Bank of India Friday reported an increase of 10 percent in its net profit at Rs.716 crore for the quarter ended Dec 31 against Rs.653 ... Read more...
Posted in Business |
Bankers to discuss cyber security
January 26th, 2012 - 8:06 pm ICT by IANS
Chennai, Jan 26 (IANS) Bankers and cyber experts will meet here Friday to discuss securing electronic banking transactions and improving customer convenience, an official said.The seminar 'Banking on e-Security - ... Read more...
Posted in Business |
RBI to probe illegal coins circulated in Mumbai markets
January 24th, 2012 - 9:49 pm ICT by IANS
Mumbai, Jan 24 (IANS) Perturbed by reports of illegally-minted small denomination coins being used in certain parts of the city, the Reserve Bank of India Tuesday promised to get to ... Read more...
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RBI wants government to deregulate diesel price
January 24th, 2012 - 8:47 pm ICT by IANS
Mumbai, Jan 24 (IANS) The Reserve Bank of India (RBI) Tuesday suggested that the government deregulate the price of diesel fully to help contain aggregate demand and the trade deficit ... Read more...
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Markets rise on CRR cut, Sensex closes tad below 17,000 (Roundup)
January 24th, 2012 - 8:14 pm ICT by IANS
Mumbai, Jan 24 (IANS) Indian equities markets rose Tuesday with investors cheering an unexpected cut in the cash reserve ratio (CRR) by the Reserve Bank of India. A benchmark ... Read more...
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RBI adopted a dovish policy: HDFC Bank official
January 24th, 2012 - 8:06 pm ICT by IANS
Chennai, Jan 24 (IANS) The 50 basis points cut in the cash reserve ratio (CRR) by the Reserve Bank of India (RBI) Tuesday in its third quarter review of monetary ... Read more...
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CRR cut will ease liquidity problems, says Pranab
January 24th, 2012 - 7:57 pm ICT by IANS
New Delhi, Jan 24 (IANS) The Reserve Bank of India's (RBI) decision to cut the cash reserve ratio (CRR) by half a percentage point will help ease the liquidity ... Read more...
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Shifting focus to growth, RBI infuses Rs.320 bn into system (Roundup)
January 24th, 2012 - 7:34 pm ICT by IANS
Mumbai, Jan 24 (IANS) Departing from its two-year-old tough monetary policy, India's central bank released Rs.32,000 crore (Rs.320 billion/$6 billion) into the country's banking system to incrrease liquidity in ... Read more...
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Markets rise on CRR cut, Sensex closes tad below 17,000 (Third Lead)
January 24th, 2012 - 5:20 pm ICT by IANS
Mumbai, Jan 24 (IANS) Indian equities markets rose Tuesday with investors cheering an unexpected cut in the cash reserve ratio (CRR) by the Reserve Bank of India. A benchmark ... Read more...
Posted in Business |
CRR reduction will help ease liquidity problems: India Inc.
January 24th, 2012 - 5:13 pm ICT by IANS
New Delhi, Jan 24 (IANS) The Reserve Bank of India's decision to cut the cash reserve ratio (CRR) by half a percentage point will help ease the liquidity situation and ... Read more...
Posted in Business |
