Gulf-based global money transfer exchange reports remittance surge into India

The UAE Exchange, one of the global money transfer brands has said its total remittances business into India witnessed a growth of 6.44 per cent last year. This is the highest quantum since 2008. The annual remittance inflows crossed 7.18 billion dollar mark in 2013. Tamil Nadu, Kerala and Maharasht...

RBI extends ECB deadline for carriers to raise funds

Xi visit to France clears Airbus deal to supply 70 jets to China

European aviation giant Airbus has signed a deal to supply 70 jets, worth more than 10 billion dollars to China's state owned purchasing agency. The deal had been on hold because of a row between the European Union and outside countries over carbon emissions tax on flights. The breakthrough...

UK to have first offshore Yuan trading center outside Asia

Britain and China have signed a deal for the first clearing service for yuan trading outside of Asia.The move will make yuan, or renminbi, transactions in London's financial centre more efficient and quicker. In a statement, Britain's Treasury said the agreement between the Bank of...

Deeper sanctions on Russia to impact global economy: Obama

The United States and European Union are discussing deeper sanctions against Russia if there are further incursions into Ukraine.The US President Barack Obama said energy is obviously a central focus of our efforts, acknowledging it will have some impact on the global economy. He also says the Russi...

Investment limit in CPI-linked bonds increased

The RBI on Wednesday, notified that the government had doubled the maximum limit for investment in inflation-indexed national savings securities. RBI has informed that the maximum limit has been increased to Rs. 10 lakh per annum for eligible individual investors and Rs. 25 lakh per annum for Instit...

RBI extends deadline for aviation sector to raise funds through ECBs

RBI extends deadline for aviation sector to raise funds through ECBs till March 2015<br/>

SC grants conditional bail to Subrata Roy; Asks him to deposit Rs.10,000 crore to SEBI

The Supreme Court today granted conditional bail to Sahara Group Chief Subrata Roy. Sahara group has to submit Rs. 10,000 crore to Sebi out of which Rs. 5,000 crore has to be in cash and the rest in bank guarantee.The court has also agreed to de-freeze bank accounts of Sahara companies to raise the ...

EC to take view of issuance of new bank licences by RBI

The Election Commission has said it will take a view on Monday on the issuance of new bank licences by the Reserve Bank. Talking to reporters in New Delhi, Election Commissioner H S Brahma said RBI has already submitted clarifications in this regard sought by the Commission. Bimal Jalan panel, which...