Business

September 1, 2014 8:24 PM

RBI asks banks to set time line to process loans

The Reserve Bank of India on Monday asked banks to set a time line to process loans. However, the RBI did not set any particular time frame for it. The central bank also asked banks to make suitable disclosures about time lines by conveying credit decisions through their websites and notice boards. ...

September 1, 2014 8:07 PM

Govt relaxes onion import norms

In light of public concern over high prices of onion in the market, Government on Monday relaxed the import norms of onion by allowing fumigation in India up to 30th of November this year. According to the Ministry of Agriculture, consignments of imported onions, which arrive in Indian ports without...

September 1, 2014 7:25 PM

Reliance Group, Nippon launch funds for Japan investors

As Prime Minister Narendra Modi sought greater investments from Japan, financial sector giant Nippon Life today said it will partner Anil Ambani-led Reliance Group for a proposed Reliance Bank and launched two India-focussed funds for Japanese investors. The two funds will direct investments by Japa...

September 1, 2014 6:25 PM

Core industries growth slows to 2.7% in July

After showing some signs of recovery in April, growth in the output of eight core industries slowed to 2.7 per cent in July as against 5.3 per cent in the same month last year. Growth in the sector, which has a combined weight of about 37. 9 per cent in the Index of Industrial Production was 2.7 per...

September 1, 2014 1:44 PM

Reliance Group, Nippon Life launch India funds for Japan investors

As Prime Minister Narendra Modi sought greater investments from Japan, financial sector giant Nippon Life today said it will partner Anil Ambani-led Reliance Group for a proposed Reliance Bank and launched two India-focussed funds for Japanese investors. The two funds will direct investments by Japa...

September 1, 2014 1:01 PM

Nifty breaches 8,000-mark for first time; Sensex hits new peak of 26,813

Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,813 in opening trade today. This follows positive economic growth data for the April-June quarter. The National Stock Exchange index Nifty crossed the 8,000-lev...

September 1, 2014 10:50 AM

Petrol price cut by Rs1.82 per litre; diesel hiked by 50 p

Petrol price has been cut by 1 rupee and 82 paise a litre while diesel price hiked by 50 paise. The new rates came into effect midnight last night. Now, petrol costs 68 rupees and 51 paise per litre in Delhi, 71 rupees and 55 paise in Chennai, 76 rupees and 14 paise in Kolkata and 76 rupees and 41 p...

September 1, 2014 10:41 AM

Nifty breaches 8,000-mark for first time; Sensex hits new peak of 26,813

Continuing their record setting spree, the NSE Nifty breached the 8,000-mark for the first time ever and BSE Sensex logged a new peak of 26,813 in opening trade today. This follows positive economic growth data for the April-June quarter. The National Stock Exchange index Nifty crossed the 8,000-lev...

September 1, 2014 10:39 AM

SEBI sets one-year target to complete probe

Capital markets watchdog Securities and Exchange Board of India, SEBI has fixed one-year target for completion of all its investigations, while sharply focusing on cases involving bigger offences. In an interview to PTI, SEBI Chairman U K Sinha said, this 12-month target would apply to all the cases...

September 1, 2014 9:23 AM

RBI eases norms to refinance external commercial borrowings<br/>

The Reserve Bank of India has eased norms to refinance External Commercial Borrowings (ECB) and allowed banks to approve even those cases where the Average Maturity Period (AMP) of fresh borrowings exceeds residual maturity of existing loan.However, borrowers would be required to follow certain cond...

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