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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 |

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 |

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 |

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 |

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 |

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 |

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 |

926 bank branches to accept advance income tax


August 22nd, 2012 - 8:47 pm ICT by IANS
Mumbai, Aug 22 (IANS) In a bid to make tax filing easier, the Reserve Bank of India (RBI) Wednesday directed 926 branches of public and private sector banks in Mumbai ... Read more...

Posted in Uncategorized |

Public sector bank’s non-performing assets not alarming: FM


August 18th, 2012 - 5:30 pm ICT by IANS
New Delhi, Aug 18 (IANS) Finance Minister P. Chidambaram Saturday said non-performing assets (NPAs) of public sector banks (PSBs) have risen marginally in the last fiscal and there ... Read more...

Posted in Business |

India’s forex reserves rise to $289.15 bn


August 11th, 2012 - 5:30 pm ICT by IANS
Mumbai, Aug 11 (IANS) India's foreign exchange (forex) reserves grew by $502.2 million to $289.15 billion for the week ended Aug 3, 2012, the Reserve Bank of India's (RBI) data ... Read more...

Posted in Business |

India’s forex reserves rise by $1.31 billion


August 4th, 2012 - 3:39 pm ICT by IANS
Mumbai, Aug 4 (IANS) India's foreign exchange (forex) reserves grew by $1.31 billion to $288.64 billion for the week ended July 27, 2012, Reserve Bank of India data showed.The forex ... Read more...

Posted in Business |

India’s forex reserves rise by $589 mn (Lead)


July 29th, 2012 - 6:56 pm ICT by IANS
Mumbai, July 29 (IANS) India's foreign exchange (forex) reserves grew by $589 million to $287.34 billion for the week ended July 20, central bank data showed.Foreign currency assets, the biggest ... Read more...

Posted in Business |

Inflation, fiscal deficit leave little room for rate cut


July 29th, 2012 - 5:34 pm ICT by IANS
New Delhi, July 29 (IANS) The Reserve Bank of India (RBI) is unlikely to cut interest rates when it reviews the monetary policy Tuesday as a ballooning fiscal deficit, high ... Read more...

Posted in Business |

India’s forex reserves rise by $589 bn


July 29th, 2012 - 4:52 pm ICT by IANS
Mumbai, July 29 (IANS) India's foreign exchange (forex) reserves grew by $589 billion to $287.34 billion for the week ended July 20, central bank data showed.Foreign currency assets, the biggest ... Read more...

Posted in Business |

Subbarao moots producer price index to measure inflation


July 17th, 2012 - 8:30 pm ICT by IANS
Mumbai, July 17 (IANS) The Reserve Bank of India Tuesday mooted a producer price index (PPI) that would be able to measure inflation more accurately.According to Reserve Bank of India ... Read more...

Posted in Business |

Government failed to check slowing economy, says BJP


June 25th, 2012 - 8:09 pm ICT by IANS
New Delhi, June 25 (IANS) The Bharatiya Janata Party Monday criticised the moves of the finance ministry and the Reserve Bank of India (RBI) to boost the slowing economy, ... Read more...

Posted in Politics |

‘India must cut subsidies, push reforms to defend rupee’


June 24th, 2012 - 5:09 pm ICT by IANS
New Delhi, June 24 (IANS) The Indian rupee is likely to slide further and might soon touch 58 to the dollar as regulatory measures by the central bank are unlikely ... Read more...

Posted in Business |

Sensex tanks 244 points as RBI keeps rates unchanged (Roundup)


June 18th, 2012 - 7:31 pm ICT by IANS
Mumbai, June 18 (IANS) A benchmark index of Indian equities markets fell 244 points after the Reserve Bank of India (RBI) left benchmark rates unchanged in its mid-quarter monetary ... Read more...

Posted in Business |

India’s central bank keeps key lending rates unchanged (Lead)


June 18th, 2012 - 1:04 pm ICT by IANS
Mumbai, June 18 (IANS) The Reserve Bank of India (RBI) Monday kept key lending rates unchanged. The re-purchase rate remains unchanged at eight percent, which automatically keeps the reverse re-purchase ... Read more...

Posted in Business |

SBI lowers deposit rates by 0.25 percent


June 7th, 2012 - 5:57 pm ICT by IANS
Mumbai, June 7 (IANS) The country's largest lender State Bank of India (SBI) Thursday announced lowering of interest rates by 0.25 percent on term deposits of select maturity period, ... Read more...

Posted in Business |

India’s forex reserves drop by $1.74 billion


June 2nd, 2012 - 3:43 pm ICT by IANS
Mumbai, June 2 (IANS) India's foreign exchange reserves fell by $1.74 billion to $290 billion for the week ended May 25, the Reserve Bank of India (RBI) data showed Saturday.The ... Read more...

Posted in Business |

India’s forex reserves drop by $1.80 billion


May 26th, 2012 - 5:31 pm ICT by IANS
Mumbai, May 26 (IANS) India's foreign exchange reserves fell by $1.80 billion to $290 billion for the week ended May 18, registering a sharp drop for the third week in ... Read more...

Posted in Business |

India’s forex reserves drop by $1.37 billion


May 19th, 2012 - 6:10 pm ICT by IANS
Mumbai, May 19 (IANS) India's foreign exchange reserves declined by $1.37 billion to $291.80 billion for the week ended May 11, largely due to drop in the value of core ... Read more...

Posted in Business |

Rupee dips to new intra-day low of 54.91 to a dollar


May 18th, 2012 - 7:03 pm ICT by IANS
Mumbai/Kolkata, May 18 (IANS) The Indian rupee slumped to a new intra-day low of 54.91 against a dollar Friday even as the Reserve Bank of India assured further intervention in ... Read more...

Posted in Business |

Inflation accelerates to 7.23 percent in April


May 14th, 2012 - 2:47 pm ICT by IANS
New Delhi, May 14 (IANS) India's inflation rose faster-than-expected to 7.23 percent in April as compared to 6.89 percent in the previous month, mainly driven by a sharp increase in ... Read more...

Posted in Business |

India’s forex reserves fall by $2.187 billion


May 12th, 2012 - 5:07 pm ICT by IANS
Mumbai, May 12 (IANS) India's foreign exchange (forex) reserves declined by $2.187 billion to $293.17 billion for the week ended May 4, official data showed. Forex reserves had risen by ... Read more...

Posted in Business |

With bumper wheat crop, Punjab farmers rich by Rs.14,110 crore


May 11th, 2012 - 8:58 pm ICT by IANS
Chandigarh, May 11 (IANS) Having achieved a record wheat crop of over 120 lakh tonnes this season, Punjab farmers have become richer by Rs.14,110 crore."Punjab farmers are richer by Rs.14,110 ... Read more...

Posted in Business |

Sharma seeks differential rate for industry as output falls


May 11th, 2012 - 7:25 pm ICT by IANS
New Delhi, May 11 (IANS) The Reserve Bank of India (RBI) should devise a mechanism of differential rate of credit for manufacturing sector to revive growth, Commerce and Industry ... Read more...

Posted in Business |

India’s industrial output contracts by 3.5 percent in March


May 11th, 2012 - 3:00 pm ICT by IANS
New Delhi, May 11 (IANS) India's industrial output shrank by 3.5 percent in March due to poor show of manufacturing and mining sectors, dampening hope for any early revival of ... Read more...

Posted in Business |

BJP concerned about India’s falling forex reserves


May 7th, 2012 - 9:50 pm ICT by IANS
New Delhi, May 7 (IANS) The main opposition Bharatiya Janata Party Monday voiced concern over India's depleting foreign currency reserves, which have declined by $12.8 billion in recent years."Our ... Read more...

Posted in Business |

India’s forex reserves rise by $758.3 million


May 5th, 2012 - 3:12 pm ICT by IANS
Mumbai, May 5 (IANS) India's foreign exchange (forex) reserves rose by $758.3 million to $295.36 billion for the week ended April 27, official data showed. Forex reserves had risen by ... Read more...

Posted in Business |

India’s forex reserves rise by $1.46 billion


April 28th, 2012 - 3:06 pm ICT by IANS
Mumbai, April 28 (IANS) India's foreign exchange (forex) reserves rose by $1.46 billion to $294.60 billion for the week ended April 20, official data showed. Forex reserves had risen ... Read more...

Posted in Business |

Jayalalithaa opposes rate hike on rural infra loans


April 27th, 2012 - 2:42 pm ICT by IANS
Chennai, April 27 (IANS) Tamil Nadu Chief Minister J.Jayalalithaa Friday urged Prime Minister Manmohan Singh not to raise the interest rates on loans provided under the Rural Infrastructure Development ... Read more...

Posted in Business |

India’s financial system still strong, says RBI deputy governor


April 26th, 2012 - 4:53 pm ICT by IANS
Hyderabad, April 26 (IANS) India's financial system was strong and there was nothing to worry about, Reserve Bank of India (RBI) Deputy Governor K.C. Chakrabarthy said Thursday after Standard & ... Read more...

Posted in Uncategorized |

SBI, Allahabad Bank cut interest rates


April 23rd, 2012 - 9:34 pm ICT by IANS
Mumbai, April 23 (IANS) The State Bank of India (SBI), the country's largest lender, said Monday that it will cut interest rates on term deposits by upto 1 percent.However, ... Read more...

Posted in Business |

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