India's GDP growth slows to 5.3 % in second quarter

The Indian economy grew at a rate of 5.3 per cent in July-September quarter on account of improved performance of mining, power and certain services sectors. The Gross Domestic Growth in the second quarter was better than 5.2 per cent of the same period last fiscal but was slower than 5.7 per cent r...

Global crude oil prices plunge

Global crude oil prices sold-off again, today. Brent crude oil futures slumped to an over four-year low of 71.12 dollars a barrel. U.S. crude oil also dropped to an over four-year low of 67.75 dollars a barrel. Oil tumbled after the Organization of Petroleum Exporting Countries yesterday decided not...

Economic growth declines to 5.3% in July-Sept quarter

Country's economic growth has declined to 5.3 per cent during July to September, from the previous quarter's 5.7 per cent. According to an official release, the manufacturing sector, which accounts for about 15 per cent of India's gross domestic product rose by 0.1 per cen...

India, Mozambique ink MoU for cooperation in oil, gas sector

India today signed a Memorandum of Understanding, MoU, with Mozambique for cooperation in the field of oil and gas. The MoU was signed in the presence of Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan in New Delhi. It seeks cooperation in the areas of upstream and downstream oil...

India, Mozambique ink MoU for cooperation in oil, gas sector

India today signed a Memorandum of Understanding, MoU, with Mozambique for cooperation in the field of oil and gas. The MoU was signed in the presence of Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan in New Delhi. It seeks cooperation in the areas of upstream and downstream oil...

RBI issues final norms for payment, small banks; Floor capital set at Rs 100 crore

Oil plunges to 4 year low after OPEC refuses to cut production output

The OPEC has decided not to cut its oil output target. The decision was announced by OPEC Secretary-General Abdallah Salem el-Badri in Vienna yesterday. He said they would not try to shore up prices by reducing production. The decision to maintain a production target of 30 million barrels a day appe...

RBI allow banks to lend against long-term infra bonds

The Reserve Bank of India has allowed banks to extend loans up to Rs 10 lakh to individuals against long-term infrastructure bonds issued by them, thus easing loan norms for low-cost housing. In a notification yesterday , the RBI said that loans ceiling and tenure should be within the maturity perio...

RBI issues final norms for payment, small banks; Floor capital set at Rs 100 crore

RBI issues final norms for small finance, payment banks