priority sector

Micro finance institutions: RBI concerned on monitoring deficiences


July 5th, 2012 - 5:43 am ICT by IANS
Chennai, July 4 (IANS) The Reserve Bank of India (RBI) is the regulator for micro finance institutions (MFIs) but there are concerns over whether it has the wherewithal to do ... Read more...

Posted in Business |

SBI plans $1 bn debt bond issue


May 28th, 2012 - 11:24 pm ICT by IANS
Bangalore, May 28 (IANS) India's largest state-run bank, State Bank of India (SBI), plans to float a $1-billion (Rs.5,500 crore) debt bond issue by August to raise funds from ... Read more...

Posted in Business |

Plan outlay for agriculture up by 18 percent in budget (Lead)


March 16th, 2012 - 10:43 pm ICT by IANS
New Delhi, March 16 (IANS) Stating that agriculture will continue to be a priority sector for the government, Union Finance Minister Pranab Mukherjee Friday said total plan outlay for ... Read more...

Posted in Business |

‘Government banks lending to key sectors up 19 percent’


March 15th, 2012 - 5:11 pm ICT by IANS
New Delhi, March 15 (IANS) The Economic Survey for 2011-12 tabled by Finance Minister Pranab Mukherjee in parliament Thursday reported an increase of 19 percent in key lending sectors ... Read more...

Posted in Business |

Banks pitch for tax free infra bonds


January 19th, 2012 - 8:31 pm ICT by IANS
New Delhi, Jan 19 (IANS) Commercial banks should be made eligible to issue tax free infrastructure bonds, top executives urged Finance Minister Pranab Mukherjee Thursday, saying this would help ... Read more...

Posted in Business |

Pranab asks banks to take belt tightening measures


January 6th, 2012 - 9:01 pm ICT by IANS
Chennai, Jan 6 (IANS) Finance Minister Pranab Mukherjee Friday asked Indian banks to scale down their advances to risky businesses to protect their asset quality."The non-performing assets ... Read more...

Posted in Business |

Overcome hurdles to up investment in infrastructure: FICCI


September 11th, 2011 - 3:18 pm ICT by IANS
New Delhi, Sep 11 (IANS) There is a need to create a pipeline of projects for tenders, overcome hurdles of financial closure and ensure a standardised bidding process to boost ... Read more...

Posted in Business |

Lending to farm sector exceeds target


August 2nd, 2011 - 8:58 pm ICT by IANS
New Delhi, Aug 2 (IANS) Bank-lending to the farm sector rose to Rs.4,46,779 crore in 2010-11, almost 20 percent higher than the official target of Rs.3,75,000 crore, Minister of State ... Read more...

Posted in Business |

Allahabad Bank to fund solar power systems buyers


July 26th, 2011 - 11:04 pm ICT by IANS
Kolkata, July 26 (IANS) Kolkata-headquartered Allahabad Bank Tuesday entered into a strategic partnership with the Environ Energy Corporation for promoting installation of solar power energy systems by financing customers of ... Read more...

Posted in Business |

Tamil Nadu firm to cultivate cotton, soya in Ethiopia


July 26th, 2011 - 8:01 pm ICT by IANS
Chennai, July 26 (IANS) Coimbatore based start-up venture Sara Cotton Fibres Private Ltd plans to cultivate cotton and soya in 25,000 acres in Ethiopia and also set up a cotton ... Read more...

Posted in Business |

Financial inclusion to get more focus: RBI governor


May 18th, 2011 - 10:35 pm ICT by IANS
Agartala, May 18 (IANS) Financial inclusion covering most Indians, fiscal literacy and priority sector lending are at the core of the Reserve Bank of India's mandate, its governor D. Subbarao ... Read more...

Posted in Business |

Syndicate Bank quarterly net up 72 percent


May 12th, 2011 - 9:46 pm ICT by IANS
Bangalore, May 12 (IANS) State-run Syndicate Bank Thursday reported net profit of Rs.289 crore for the fourth quarter of fiscal 2010-11, registering a whopping 72 percent increase year-on-year (YoY) from ... Read more...

Posted in Business |

Trips plus measures outside WTO framework not acceptable: Anand Sharma


April 26th, 2011 - 10:01 pm ICT by ANI
New Delhi, Apr 26 (ANI): Union Commerce Minister Anand Sharma today reiterated that India will not accept any trips plus decision that is taken outside the multilateral framework. Speaking after the third ... Read more...

Posted in National |

Virbhadra Singh meets Mozambique Trade Minister


March 30th, 2011 - 10:31 pm ICT by ANI
New Delhi, Mar 30 (ANI): Minister of Micro, Small and Medium Enterprises Virbhadra Singh met Mozambique Trade Minister Armando Inroga here today.Singh extended a warm welcome to the visiting dignitaries and assured ... Read more...

Posted in National |

Highlights of Union Budget 2011-12 (Part-II)


February 28th, 2011 - 1:09 pm ICT by ANI
New Delhi, Feb 28 (ANI): Union Finance Minister Pranab Minister on Monday presented the Union Budget 2011-12 in the Parliament.Highlights of Union Budget 2011-12 are as follows:* New Public debt management bill ... Read more...

Posted in National |

SBI sets infrastructure credit limit at Rs.1 tn


February 11th, 2011 - 5:35 pm ICT by IANS
Kolkata, Feb 11 (IANS) India's largest lender State Bank of India (SBI) has set a credit limit of Rs.1 trillion (Rs.1 lakh crore/$22 billion) for the infrastructure sector, a top official ... Read more...

Posted in Business |

Food Security Bill is ready: K.V. Thomas


January 29th, 2011 - 6:21 pm ICT by IANS
Thiruvananthapuram, Jan 29 (IANS) Tipped as the flagship programme of the second United Progressive Alliance (UPA) government, the proposed Food Security Bill is ready, union minister K.V. Thomas said Saturday.Thomas, who recently ... Read more...

Posted in Business |

Nabard estimates Rs.41,085 crore credit flow in Karnataka


December 21st, 2010 - 10:50 pm ICT by IANS
Bangalore, Dec 21 (IANS) The National Bank for Agriculture and Rural Development (Nabard) Tuesday estimated that Karnataka has a credit flow potential of Rs.41,085 crore to the priority sector in the ensuing ... Read more...

Posted in Business |

State Bank of India hikes deposit rates up to 150 basis points


December 6th, 2010 - 7:44 pm ICT by IANS
Mumbai, Dec 6 (IANS) India's largest lender, the government-run State Bank of India (SBI) Monday hiked its deposit rates by up to 150 basis points, in a move that should encourage ... Read more...

Posted in Business |

Lower lending rates, hike deposit rates, banks told


December 3rd, 2010 - 5:16 pm ICT by IANS
Mumbai, Dec 3 (IANS) Banks need to increase their deposit rates and bring down their lending rates, Reserve Bank of India Governor Duvvuri Subbarao said here Friday."Banks need to raise the interest ... Read more...

Posted in Business |

Rs.585-crore loan disbursed for minority communities


September 22nd, 2010 - 10:59 pm ICT by IANS
New Delhi, Sep 22 (IANS) The government has disbursed over Rs.585 crore to more than 2.5 lakh beneficiaries for the economic development of minority communities in India over the last four years, ... Read more...

Posted in Business |

IDBI best public sector bank for SME financing: D&B


August 27th, 2010 - 4:05 pm ICT by IANS
Mumbai, Aug 27 (IANS) IDBI Bank has received the best public sector bank award for financing small and medium enterprises (SMEs) from global business information provider Dun and Bradstreet (D&B)."IDBI Bank has ... Read more...

Posted in Business |

Mukherjee to meet chiefs of public sector banks today


August 14th, 2010 - 11:50 am ICT by ANI
New Delhi, Aug 14 (ANI): Union Finance Minister Pranab Mukherjee will meet chiefs of public sector banks here today to take stock of the financial performance of the banks and their ... Read more...

Posted in National |

Mukherjee emphasises need to strengthen Self-help Groups movement


July 20th, 2010 - 10:28 pm ICT by ANI
Hyderabad, July 20 (ANI): Finance Minister Pranab Mukherjee on Tuesday emphasized the need to strengthen movement of Self-help Groups for financial inclusion so that small and marginal farmers could get access ... Read more...

Posted in National |

Punjab’s 2010-11 plan pegged at Rs.9,150 crore


June 10th, 2010 - 9:35 pm ICT by IANS
New Delhi/Chandigarh, June 10 (IANS) Punjab's annual plan for 2010-11 was Thursday finalised at Rs.9,150 crore. The decision was taken at a meeting between Punjab Chief Minister Parkash Singh Badal and Planning Commission's ... Read more...

Posted in Business |

Work for minorities without caring for credit: Minister


May 14th, 2010 - 11:29 pm ICT by IANS
New Delhi, May 14 (IANS) States should work in unison with the central government for the welfare of minorities without caring for credit, Minority Affairs Minister Salman Khurshid said Friday. The governments of ... Read more...

Posted in Politics |

Foreign varsities to invest money earned back in India


March 24th, 2010 - 6:38 pm ICT by IANS
New Delhi, March 24 (IANS) The foreign investors setting up educational campuses in India cannot repatriate the money aboard and will have to invest the amount back into the sector in the ... Read more...

Posted in Uncategorized |

107 industries applied for CISF security cover


March 8th, 2010 - 7:21 pm ICT by ANI
By Shreeraj GudiNew Delhi, Mar 8 (ANI): One hundred and seven industries have applied for Central Industrial Security Force (CISF) security cover for their respective installations.Revealing this at a press conference, ... Read more...

Posted in National |

50 percent increase in funding for minority welfare


February 26th, 2010 - 3:51 pm ICT by IANS
New Delhi, Feb 26 (IANS) The government Thursday proposed a hike of 50 percent in plan allocation for the next fiscal for the welfare of minority communities in India. Finance Minister ... Read more...

Posted in Business |

Econonomic Survey says bank credit has grown by 13.9 per cent


February 25th, 2010 - 5:33 pm ICT by ANI
New Delhi, Feb.25 (ANI): The Economic Survey for 2009-10 presented by Finance Minister Pranab Mukherjee in Parliament on Thursday has revealed that bank credit has recorded a growth of 13.9 per ... Read more...

Posted in National |

Energy sector needs to be given priority, says Farooq Abdullah


February 11th, 2010 - 8:52 pm ICT by ANI
New Delhi, Feb.11 (ANI): Union Minister for New and Renewable Energy Farooq Abdullah on Thursday that there is need to consider energy sector in priority sector.Speaking at an ongoing two-day wind ... Read more...

Posted in National |

West Bengal expects 35 percent growth in farm loan


February 10th, 2010 - 7:51 pm ICT by IANS
Kolkata, Feb 10 (IANS) West Bengal expects to achieve a growth of 35 percent in loans to farm and small scale sectors in the current fiscal, state Finance Minister Asim Dasgupta said ... Read more...

Posted in Business |

Govt. initiative to establish Power Exchanges benefited country: Shinde


July 8th, 2009 - 7:33 pm ICT by ANI
New Delhi, July 8 (ANI): Union Minister for Power Sushilkumar Shinde on Wednesday said that the Government's initiative to establish Power Exchanges in India has benefitted the country.The minister said it ... Read more...

Posted in National |

Sops for renewable energy projects should continue: Abdullah


June 19th, 2009 - 10:35 pm ICT by IANS
Chennai, June 19 (IANS) New and Renewable Energy Minister Farooq Abdullah Friday said his department would request the finance ministry to continue with existing incentive schemes for renewable power projects. "We find there ... Read more...

Posted in Business |

Kerala banks post marginal growth in advances


April 25th, 2009 - 4:44 pm ICT by IANS
Thiruvananthapuram, April 25 (IANS) Banks in Kerala have posted a marginal growth of 6.3 percent in advances from Rs.80,131 crore in June 2008 to Rs.85,174 crore as on Dec 31, according to ... Read more...

Posted in Business |

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