BUSINESS AWAAZ

RBI approves 10 entities to set up small finance banks

Seeking to promote financial inclusion, the RBI has granted approval to 10 entities, in principle, to set up small finance banks to provide basic banking services to small farmers and micro industries. The approval granted yesterday includes Ujjivan Financial Services and Equitas Holdings. The approval has been granted within a month of the RBI giving … Continue reading RBI approves 10 entities to set up small finance banks

RBI is well prepared to deal with US Fed impact: Jayant Sinha

The Finance Ministry today said that India has built multiple layers of defence to deal with a possible US Federal Reserve’s first hike in interest rates in nine years, and RBI is very well. prepared to deal with its impact. Minister of State for Finance Jayant Sinha said the goal of policymakers in India is … Continue reading RBI is well prepared to deal with US Fed impact: Jayant Sinha

Centre to resolve outstanding tax disputes soon: Jaitley

TIA NEWS / Finance Minister Arun Jaitley today said that the government would resolve outstanding tax disputes over the next few days through judicial or executive resolutions. Addressing India Economic Convention 2015 in New Delhi today, Jaitley said while a number of tax disputes have been put to rest since the BJP government took office … Continue reading Centre to resolve outstanding tax disputes soon: Jaitley

Weak monsoon likely to reduce Kharif foodgrain output by 2%

The country’s foodgrain production is projected to decline by 1.78 per cent to 124.05 million tonnes in this Kharif season due to poor monsoon. Foodgrain output was 126.31 million tonnes in the last kharif season. Releasing the first advance estimates for Kharif crops, the Agriculture Ministry said that the cumulative rainfall during the current monsoon … Continue reading Weak monsoon likely to reduce Kharif foodgrain output by 2%

Govt approves introduction of Sovereign Gold Bond Scheme

AMN The Union Cabinet today gave nod to introduction of the Sovereign Gold Bonds Scheme. Briefing media after the Cabinet meeting, Finance Minister Arun Jaitley said, the Bonds will be issued with a rate of interest to be decided by Government and calculated on value at the time of investment. Mr Jaitley said, the scheme … Continue reading Govt approves introduction of Sovereign Gold Bond Scheme

Global Investors Summit in Chennai

AMN / Tamil Nadu chief minister J.Jayalalithaa today inaugurated The Global Investors Meet at a colourful event in Chennai Trade Centre. Over 5000 delegates including a thousand from abroad are attending the two-day summit. Ms Jayalalithaa said in her address that the targeted investment commitment of one-lakh crore rupees in the meeting has already been … Continue reading Global Investors Summit in Chennai

Current regime of low inflation to sustain for longer period: RBI

AMN / RBI Deputy Governor R Gandhi has said that the current regime of low inflation is likely to sustain for a longer period. Delivering MR Pai Memorial Lecture in Mumbai, Mr. Gandhi said inflation is currently at a low level and this time around it will be possible to sustain inflation at lower levels … Continue reading Current regime of low inflation to sustain for longer period: RBI

Cabinet gives ex-post-facto nod to capital infusion in EXIM Bank

Union Cabinet today gave its ex-post-facto approval to the capital infusion made in the Export Import Bank of India (EXIM Bank) of 800 crore rupees to support the future growth of the Bank. An official release said, the Bank was set up as a statutory Corporation in 1982 for providing financial assistance to exporters and … Continue reading Cabinet gives ex-post-facto nod to capital infusion in EXIM Bank

Aircel-Maxis: CBI submit status report in SC on probe against Chidambaram

CBI today placed before the Supreme Court a fresh status report on the progress of its probe into the 2G spectrum allocation scam cases by covering in its ambit the investigation concerning former Finance Minister P Chidambaram in the Aircel-Maxis deal case. The CBI, in its charge sheet filed last year, had said it will … Continue reading Aircel-Maxis: CBI submit status report in SC on probe against Chidambaram

TRAI gives 15 days time to address call drop issue

AMN / Telecom Regulatory Authority of India, TRAI has given 15 day time to Telecom companies to address the call drops problem. Talking to media persons in New Delhi, TRAI Chairman RS Sharma said he told telecom firms that after 15 days, the department will have another test drive in the city of Mumbai and … Continue reading TRAI gives 15 days time to address call drop issue

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Strong Indian team for Asian Badminton Team Championships

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Mallya case: India gives fresh set of documents to UK

AMN India has given a fresh set of papers to the UK in the extradition case of businessman Vijay Mallya. Ex ...