RBI extends date of exchanging pre-2005 notes to Jan 1, 2015

RBI has extended the date for exchanging pre-2005 banknotes to 1st January, 2015. In a press release issued from Mumbai on Monday, RBI has advised banks to facilitate the exchange of these notes for full value and without causing any inconvenience to the public.The Reserve Bank has further clarified...

2nd meeting of India-UAE High Level Task Force on Investment gets underway in Mumbai

RBI extends date of exchanging pre-2005 notes to Jan 1, 2015

RBI has extended the date for exchanging pre-2005 banknotes to 1st January, 2015. In a press release issued from Mumbai today, RBI has advised banks to facilitate the exchange of these notes for full value and without causing any inconvenience to the public.The Reserve Bank has further clarified tha...

Centre sanctions additional fund for cleaning Ludhiana Buddha Nallah

The central government has sanctioned an additional 37 crore 50 lakh rupees for cleaning of Buddha Nallah of Ludhiana. Union Information and Broadcasting minister Mr. Manish Tewari has said, this was in addition to 50 crore rupees provided earlier by the Planning Commission and 16 crore rupees under...

2nd meeting of India-UAE High Level Task Force on Investment gets underway in Mumbai

Govt. clears disinvestments in state-owned IOC and BHEL<br/>

The government has cleared disinvestments in state-owned Indian Oil Corporation, IOC, and Bharat Heavy Electricals Limited, BHEL. The sale would fetch over 7,300 crore rupees to the exchequer in the current financial year. The decision to go ahead with stake sale of ten per cent in IOC and 5 per cen...

Bank of Bahrain and Kuwait plans to expand its operations in India

The Bank of Bahrain and Kuwait, BBK, plans to expand its operations in India by opening its fourth branch in the country in New Delhi. The CEO of BBK said that the bank would pump in an additional $15 million in its Indian operations this year. In 2013, it had invested about $30 million.

Petrol and diesel price hike<br/>

The Petrol price has been hiked by 60 paise per litre and diesel by 50 paise excluding VAT. The new rates came into effect midnight Friday night.Petrol will now cost 73 rupees and 16 paise a litre in Delhi, 80 rupees and 96 paise in Kolkata, 82 rupees and 7 paise in Mumbai and 76 rupees and 48 paise...

Indian economy grows 4.7 % in 3rd quarter of current fiscal

The Indian economy grew 4.7 per cent in the third quarter of this financial year. The growth was mainly due to improved performance in agriculture and services sectors. The country&apos;s gross domestic product (GDP) had expanded 4.8 per cent in the July-September quarter and 4.4 per cent in Apr...

IOC stake sale to ONGC, OIL at 10 percent discount

The government has approved 10 per cent stake sale in Indian Oil Corporation to state run Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL) at a discount of 10 per cent. It will fetch about 5,300 crore rupees to the exchequer.Petroleum and Natural Gas Minister Veerappa Moily confirm...