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CBI being used at political tool by BJP govt, alleges Mamata Banerjee

Dec 18, 2014 at 16:26 | Source: FirstPost

New Delhi: Pulling no punches in her attack against BJP for allegedly pursuing "political vendetta"against TMC, West Bengal Chief Minister on Thursday charged that CBI was being used as a "political tool" by the NDA government and...

Oct industrial output contracts, builds case for rate cut

Dec 15, 2014 at 01:45 | Source: FirstPost

NEW DELHI (Reuters) - India's industrial output contracted in October, its worst performance in three years, while retail inflation continued its declining trend, building the case for the Reserve Bank of India to lower interest rates early next year...

Taxi-app firm Uber hit by legal challenges and bans

Dec 04, 2014 at 11:57 | Source: BBC

Taxi-app firm Uber has clashed with Indian authorities over the way customers pay fares. It criticised antiquated rules that demand credit-card payments use a two-step authentication process. The row follows Uber's suspension of its operations i...

Financial reforms on course

Nov 30, 2014 at 12:12 | Source: Calcutta Telegraph News

Mumbai, Nov. 29 (PTI): The government will soon implement a large number of legislative and administrative recommendations of the Financial Sector Reforms Commission (FSLRC), which had suggested a major overhauling of financial sector regulations. &...

Indian economic growth slows to 5.3%

Nov 28, 2014 at 20:21 | Source: BBC

India's economy grew by 5.3% in the July-to-September period from a year earlier, down from a rate of 5.7% in the previous quarter. Although the rate was slower than earlier in the year, it was still better than many analysts had expected. The f...

Niche bank rules in place

Nov 28, 2014 at 04:36 | Source: Calcutta Telegraph News

Mumbai, Nov. 27: The Reserve Bank of India (RBI) today paved the way for more businesses to set up niche banks offering limited financial services in a country where almost half the population have no access to banking. Mobile telephone companies, s...

Green light for loan against core bonds

Nov 28, 2014 at 04:36 | Source: Calcutta Telegraph News

Mumbai, Nov. 27: The Reserve Bank of India today allowed banks to extend loans up to Rs 10 lakh to individuals against the collateral of long-term infrastructure bonds issued by them. The RBI said it was taking this step to provide liquidity to inve...

GDP may have slowed to 5.1% in Q2, clamour for rate cut grows louder

Nov 27, 2014 at 11:56 | Source: FirstPost

Bangalore: India's economic growth probably slowed to 5.1 percent in the July-September quarter from a year ago, but economists polled by Reuters doubted whether that would be enough to persuade the central bank to cut interest rates just yet.Clamour...

Kotak in general insurance

Nov 27, 2014 at 00:52 | Source: Calcutta Telegraph News

Mumbai, Nov. 25: Kotak Mahindra Bank today entered the general insurance sector after receiving approval from the Reserve Bank of India (RBI). The wholly owned general insurance subsidiary has received a capital infusion of Rs 100 crore. Though Kota...

RBI ready to give banks more flexibility to restructure stressed loans

Nov 26, 2014 at 09:36 | Source: FirstPost

The RBI is ready to give banks more flexibility in restructuring of stressed loans if it facilitates recovery of stalled projects, Governor Raghuram Rajan today said."The RBI is exploring ways to allow banks more flexibility in (loan) restructur...

Kotak Mahindra Bank enters general insurance biz

Nov 25, 2014 at 17:23 | Source: FirstPost

Private-lender, Kotak Mahindra Bank Ltd on Tuesday announced its entry into general insurance business.The bank has received the approval from the Reserve Bank of India (RBI) to form a subsidiary to commence this business, the lender said in a releas...

Kotak Mahindra Bank enters into general insurance business

Nov 25, 2014 at 15:40 | Source: FirstPost

Private-lender Kotak Mahindra Bank on Tuesday announced its entry into general insurance business.The bank has received the approval from the Reserve Bank of India (RBI) to form a subsidiary to commence this business, the lender said in a release.Kot...

Exports fall, gold imports surge, trade deficit widens in October: Key takeaways

Nov 18, 2014 at 11:10 | Source: FirstPost

India's trade deficit widened to $13.35 billion in October as exports contracted 5.04 percent and gold imports surged, the government data showed yesterday. In the year-ago period, the deficit stood at $10.59 billion.Gold imports jumped 280 percent t...

RBI needs to stop jewellers from cheating Indians with gold schemes

Nov 17, 2014 at 16:15 | Source: FirstPost

Indians losing due to the wiles and guiles of jewellers in India is as ubiquitous and commonplace as cyber crime in Nigeria. The customer is short changed on all fronts---weight, rate and purity with wastage charges being the icing on the cake for th...

Goldman Sachs sees RBI cutting rates by 0.5% starting February

Nov 17, 2014 at 13:15 | Source: FirstPost

Goldman Sachs Global Macro research on Monday changed its forecast on the possibility of Reserve Bank of India (RBI) cutting rates.The group now expects the RBI to cut its key lending rate, repo, by 0.5 percentage point beginning February changing it...

Bid to slash remittance expenses

Nov 17, 2014 at 10:17 | Source: Calcutta Telegraph News

Brisbane, Nov. 16 (PTI): Taking the concerns of India and other developing countries on board, the G20 today vowed to take “strong practical” measures to reduce the global average cost of transferring remittances to 5 per cent. India, wh...

Final rules for small banks soon

Nov 14, 2014 at 03:51 | Source: Calcutta Telegraph News

Mumbai, Nov. 13: The Reserve Bank of India (RBI) will invite applications for setting up small finance and payment banks by the end of this month after putting in place the final norms. “We visualise mobile firms, companies with large rural pr...

Indian media: Modi's Asean trade pitch

Nov 13, 2014 at 15:52 | Source: BBC

Indian papers have been highlighting Prime Minister Narendra Modi's trade pitch to Southeast Asian countries. Mr Modi on Wednesday invited the Asean (Association of South East Nations) nations to join India in its new era of economic progress. H...

Bank tech spend rise

Nov 10, 2014 at 04:27 | Source: Calcutta Telegraph News

Calcutta, Nov. 9: IT spending by banks and securities companies is seen to grow 10 per cent in 2014 at Rs 46,900 crore, according to a study by Gartner. The forecast includes spending by financial institutions on internal IT (such as personnel), har...

Jayant Sinha, son of BJP leader Yashwant Sinha and Harvard-IIT alumni, inducted into Council

Nov 09, 2014 at 15:35 | Source: FirstPost

New Delhi: The son of senior BJP leader and former minister Yashwant Sinha, Jayant Sinha, 51, was elected to the Lok Sabha this year from Hazaribagh in Jharkhand.Prior to joining the union council of ministers on Sunday, Jayant was a member of two ke...

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