reserve 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 |

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 |

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 |

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 |

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 |

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 |

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 |

West Bengal exhorts financial players to invest in state


August 23rd, 2012 - 6:52 pm ICT by IANS
New Delhi, Aug 23 (IANS) The union urban development ministry and the West Bengal government Thursday exhorted banking and financial institutions to set up their branches at its International ... 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 |

Coin shortage makes everyday life difficult in West Bengal


August 19th, 2012 - 5:34 pm ICT by IANS
Kolkata, Aug 19 (IANS) School teacher Nandita was surprised when a teenager manning the cash counter at a coffee shop in a private hospital offered her two bubble gums ... Read more...

Posted in Business |

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 |

Inflation down by 6.87 percent


August 14th, 2012 - 4:33 pm ICT by IANS
New Delhi, Aug 14 (IANS) India's headline inflation fell to 6.87 percent in July from 7.25 percent in the previous month, putting pressure on the Reserve Bank of India to ... 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 |

Don’t draw unwarranted conclusions, PM tells rating agencies


August 11th, 2012 - 3:38 pm ICT by IANS
New Delhi, Aug 11 (IANS) Prime Minister Manmohan Singh Saturday took international rating agencies to task for cutting India's growth forecast and asserted that the fundamentals of the economy ... Read more...

Posted in Business |

Factory output dips by 1.8 percent in June (Roundup)


August 9th, 2012 - 8:23 pm ICT by IANS
New Delhi, Aug 9 (IANS) India's industrial output dropped 1.8 percent in June, the third time in four months, due to a sharp contraction in manufacturing production, government data ... Read more...

Posted in Business |

Textile firms’ loans of Rs.35,000 crore to be restructured


August 8th, 2012 - 9:23 pm ICT by IANS
New Delhi, Aug 8 (IANS) The government has directed public sector banks to restructure loans worth Rs.35,000 crore to textiles firms, which are facing financial problem, Minister of State for ... Read more...

Posted in Business |

Textiles firms seek loan restructuring


August 7th, 2012 - 8:35 pm ICT by IANS
New Delhi, Aug 7 (IANS) Apparel Export Promotion Council (AEPC) Tuesday urged the government to direct banks to restructure loans to textiles industry, which is reeling under Rs.155,809 crore ... Read more...

Posted in Business |

Chidambaram’s efforts will help revive growth: FICCI


August 7th, 2012 - 8:10 pm ICT by IANS
New Delhi, Aug 7 (IANS) Enthused by Finance Minister P. Chidambaram's assurance of fine-tuning policies, industry body FICCI Tuesday said this would help revive economic growth."It is quite obvious ... Read more...

Posted in Business |

Employees Provident Fund approves Reliance-Nippon stake deal


August 7th, 2012 - 6:27 pm ICT by IANS
New Delhi, Aug 7 (IANS) The Employees Provident Fund Organisation (EPFO) Tuesday gave its nod to the 26 percent stake sale by Reliance Capital Asset Management Company to Japan's Nippon ... Read more...

Posted in Business |

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