FDI in telecom rises sharply to $ 2.3 billion in April-July

Foreign direct investment in the telecom sector rose sharply to 2.3 billion dollars in the first four months of the current fiscal. The Department of Industrial Policy and Promotion in a release said FDI in the telecom sector was just 1.3 billion dollars in the entire 2013-14 fiscal. It said payment...

CCI imposes Rs 2.83 cr penalty on Super Cassettes Industries Ltd

Competition Commission of India, CCI has imposed a penalty of two crore and 83 lakh rupees on Super Cassettes Industries Limited for abusing dominant position. An official release said that an order to this effect was passed today against the company on the basis of information filed by HT Media Lim...

Venkaiah Naidu stresses on need to expand EPFO services

Union Urban Development Minister Venkaiah Naidu has stressed on the need to expand the services of the Employees Provident Fund Organisation. He formally launched the enhancement of minimum pension to Rs 1000 per month for Andhra Pradesh, Telangana and Odisha states, at a programme held in Hyderabad...

Core Sector grows 5.8 % in August

Eight core industries grew by 5.8 per cent in August this year as against 4.7 per cent in the same month last year led by healthy growth in coal, cement and electricity sectors. According to data released by the Commerce and Industry Ministry, coal sector grew by 13.4 per cent, cement by 10.3 percen...

Urgent need for new fertilizer policy: IFFCO MD

Indian Farmers and Fertilisers Cooperative Limited, IFFCO has said that unless a new and favourable pricing policy comes into being, it might be compelled to curtain its Urea production. Talking to media persons in Allahabad, IFFCO Managing Director and CEO Udai Shankar Awasthi stressed on the urgen...

Indian economy to grow at 5.5 percent in current fiscal, estimates ESCAP

United Nation Economic and Social Commission for Asia and the Pacific,ESCAP has estimated that the Indian economy will grow at 5.5 percent in the current fiscal. Annual report on Economic and Social Survey of Asia and the pacific 2014 released in New Delhi today said, Asia -Pacific developing econom...

RBI relaxes KYC norms for opening bank accounts

The Reserve Bank of India, RBI, today relaxed Know Your Customer, KYC norms by allowing self-certification of documents for opening bank accounts. RBI has asked banks to allow self-certified copy of the document by mail, or post for opening an account. Banks have also been asked not to seek fresh do...

As Reserve Bank of India decided to unchange key interest rates, industry bodies and economists have came up with mixed reactions. Speaking to AlR, The Indian Econometric Society Secretary, N R Bhanumurthy said that one would expect the reduction in liquidity measures by RBI. But inflationary pressu...

Shapoorji Pallonji named 'Contractor of the Year' for 2014

One of the leading construction companies of India, Shapoorji Pallonji was named the 'Contractor of the Year' at this year's Qatar Contractors Forum & Awards ceremony for the year 2014. The Mumbai based construction giant was awarded top honors at a function in Doh...

Indian economy to grow at 5.5 % in current fiscal: UN-ESCAP

United Nation Economic and Social Commission for Asia and the Pacific,ESCAP has estimated that the Indian economy will grow at 5.5 percent in the current fiscal. Releasing its annual report on Economic and Social Survey of Asia and the pacific 2014 in New Delhi, said that the Asia -Pacific developin...