EU proposes ban on drift nets to protect marine animals and habitat

The European Union's executive on Wednesday, proposed to ban all use of drift nets in EU waters and on its vessels by year's end to better enforce the protection of dolphins, sharks, swordfish and bluefin tuna.Drift nets stretching for miles close to the surface have often been res...

CEA's Mathur pegs power loss at 1.40 lakh MW during transmission and distribution

The Chairperson of the Central Electricity Authority - CEA, Neerja Mathur has said that the Centre and state governments must interact closely to enable power supply at reasonable rates. She was speaking at the Inauguration of the Fifth Transmission and Distribution Conclave and round table summit o...

Listing on bourses at bank management's discretion: RBI panel recommendation

A RBI committee has come out strongly against the central bank's rule which states that banks must list on the stock exchanges within three years. According to the PJ Nayak Committee, this clause may be detrimental to the interests of minority shareholders. The committee formed to review Go...

Sony announces yearly losses of $1.3 billion

The Japanese electronics company Sony, which once led the consumer electronics market has announced yearly losses of 1.3 billion dollars. The firm that makes play station games console blamed the results on its decision to get out of the personal computer business as it goes through a restructuring.

Govt should reduce its holding in public sector banks to below 50 %, says RBI panel

State-run banks needs up to Rs. 5.87 trillion in core capital by March 2018

A RBI report has said that state-run banks will require up to 5.87 trillion rupees in core capital by March 2018 as they migrate to the capital intensive Basel-III framework.The panel on 'Governance of Boards of Banks' headed by former AxisBank chairman PJ Nayak said that the gover...

State-run banks needs up to Rs. 5.87 trillion in core capital by March 2018

A RBI report has said that state-run banks will require up to 5.87 trillion rupees in core capital by March 2018 as they migrate to the capital intensive Basel-III framework.The panel on 'Governance of Boards of Banks' headed by former AxisBank chairman PJ Nayak said that the gover...

Govt should reduce its holding in public sector banks to below 50 %, says RBI panel

RBI authorizes 29 banks to accept payments of IT dues

RBI has authorized 29 banks to accept payments of Income Tax dues. In a press release issued from Mumbai, RBI appealed to tax payers to remit their income tax dues sufficiently in advance of the due date. In order to minimize the hassle, tax payers can also use the facility of online payment or use ...

Govt likely to infuse additional capital of up to Rs. 8000 crore in public sector banks

The government is likely to infuse an additional capital of upto 8,000 crore rupees in the public sector banks during the current fiscal, to expand their capital base. This was disclosed by Financial Services Secretary GS Sandhu in New Delhi yesterday. He said, a provision of 11,500 crore rupees hav...