Expecting positive outcomes from Prime Minister Narendra Modi’s visit to the UAE, Confederation of Indian Industry (CII) has hoped that the visit will help attract more funds from the Gulf nation into India’s infrastructure sector. CII said that with the UAE transforming itself into a knowledge-based economy and considering India’s leadership in key sectors such … Continue reading PM UAE visit to help attract funds to infrastructure sector: CII
The government has appointed, P S jayakumar as MD and CEO of Bank of Baroda and Rakesh Sharma as MD and CEO of Canara Bank. This is the first time the government has chosen the two candidates from the private sector to head the Public Sector Banks. The announcements were made along with MD and … Continue reading Govt selects pvt sector professionals to head BoB, Canara Bank
AMN- Government has extended the deadline for submission of public comments on the proposed policy framework for net neutrality till August 20. The submission of views was earlier scheduled to close yesterday. Department of Telecom said in a notice on its website that last date for submission of suggestions and comments on report of committee … Continue reading Govt extends deadline for comments on net neutrality
Bank Board Bureau to monitor key performance indicators of PSU banks AMN Finance Minister Arun Jaitley today said that the government has decided to set up a Bank Board Bureau,BBB through which public sector banks PSBs would be monitored for key performance indicators. The BBB will start the functioning from 1st April next year and … Continue reading Jaitely launches Plan Indradhanush to revamp public sector banks
India’s wholesale prices fell by 4.05 percent in July, their ninth straight decline and their lowest in at least a decade, mainly driven by weak food and fuel prices, government data showed. The data, released on Friday, compared with a 2.8 percent year-on-year fall forecast by economists in a Reuters poll and a provisional 2.4 … Continue reading July WPI prices fall 4.05 percent
AMN / The Economist has examined the consequences if India’s monsoon fails in future. The report explores the potential effects on India and the world if the nation experiences a more erratic rainy season. The report is part of The World If, a compilation of scenarios of what might happen across politics, business and technology. … Continue reading If India’s monsoon fails ?
AMN / Reserve Bank of India has asked all banks to provide interest concession of 2 per cent on short term crop loans of up to 3 lakh rupees. In a notification issued yesterday, the RBI said that interest subvention of 2 per cent per annum will be made available to public and private sector … Continue reading RBI asks banks to provide short-term crop loans at lower rate
AMN Finance Minister Arun Jaitley today asserted that government was determined to roll out Goods and Services Tax from April next year. Addressing a press conference in New Delhi, Mr. Jaitley attacked opposition party for disruption in Parliament saying it was aimed at delaying the GST Bill. He alleged that Congress party’s real intent was … Continue reading Govt determined to roll out GST from April next year: Arun Jaitley
The International Monetary Fund has welcomed Beijing’s newly announced system to value the country’s currency, saying it will allow market forces to play a greater role in the nation. China cut the yuan’s value against the dollar for a second day today, sending ripples through financial markets and raising fears that the currency could fall … Continue reading IMF welcomes China’s new mechanism to value currency
Stock markets fell across the world, and emerging market currencies were under pressure after Chinese yuan weakened further. In Asia, Japan’s Nikkei 225 index fell 1.6 percent; Singapore’s Straits Times index slumped 2.9 percent; Hong Kong Hang Seng plunged 2.4 percent; South Korea’s Kospi slipped 0.6 percent; and China’s Shanghai Composite index lost 1 percent. … Continue reading Stock markets fall globally after Chinese currency weakens further
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