Oil prices edge up in Asian trade

Oil prices edged higher in Asia today after data showed US stockpiles dipping, while the Federal Reserve indicated interest rates would not be hiked until the middle of next year. US benchmark West Texas Intermediate for January delivery rose eight cents to 56.55 dollar while Brent crude for Februar...

Empays' instant money transfer service gets RBI stamp

RBI imposes penalty on ICICI bank, Bank Of Baroda

SpiceJet resumes operations after oil companies agree to supply fuel

SpiceJet airline has resumed its operations after the oil companies agreed to supply jet fuel to the airline. The budget carrier is getting fuel as per the terms of cash and carry agreement which was put in place about six months back. Earlier the SpiceJet had grounded all its aircraft due to non-pa...

Minorities from neighbouring counties to be given 5 year visa

Members of the minority communities from Pakistan, Afghanistan and Bangladesh will be given five years visa instead of one-year as part of government's effort to address their grievances and according citizenship in future. A Home Ministry statement said that the central government has deci...

Finance Ministry clarifies various aspects of PMJDY

The Finance Ministry today issued clarifications regarding various aspects of the Pradhan Mantri Jan Dhan Yojana, PMJDY, for the benefit of account holders under the scheme. A person who already has a bank account with any bank, need not open a separate account under PMJDY. He will just have to get ...

SpiceJet flights grounded after oil companies stop fuel supply

Flight operations of cash-strapped Spice Jet were grounded today due to no supply of jet fuel by oil marketing companies. Sources say, not even a single flight has taken off this morning due to fuel supply issue with the oil companies. The state-run oil marketing firms have not yet taken a decision ...

Aviation Ministry may ask banks to lend Rs 600 crore to SpiceJet

Coming to the rescue of the crisis-ridden budget airline SpiceJet, the Civil Aviation Ministry has said that it may request Indian banks and financial institutions to extend loans of up to Rs 600 crore to the airliner as part of measures to keep the carrier functional. A Ministry release said in New...

Petrol, diesel rates cut by Rs 2 per litre

The prices of petrol and diesel have been cut by two rupees per litre, including VAT. The new rate came into effect midnight last night. Now, petrol will cost 61 rupees and 33 paise per litre in Delhi, 68 rupees and 65 paise in Kolkata, 68 rupees and 86 paise in Mumbai and 63 rupees and 94 paise in ...

Indian economy has potential to grow at higher rate: Jaitley

Finance Minister Arun Jaitley has said that India has the potential to grow at a higher rate even at a time when the world economy is going through a critical phase. Talking to the students of Stanford University of USA who called on him in his office yesterday, Mr Jaitley mentioned about unexploite...