Business

February 10, 2014 12:52 PM

PSU bank employees begin two-day strike demanding wage revision<br/>

Employees of public sector banks across the country today began their two-day strike, demanding wage revision. They are also opposed to banking sector reforms. Cheque clearances, cash withdrawals and deposits in the banks&apos; branches are badly hit by the strike. However, private sector banks ...

February 9, 2014 11:58 AM

NABARD sanctions loans worth over Rs. 19,100 crore under RIDF

National Bank for Agriculture and Rural Development, NABARD has sanctioned loans worth over Rs. 19,100 crore under Rural Infrastructure Development Fund (RIDF) to states for agriculture and allied activities.NABARD Chairman H K Bhanwala said, over Rs. 19,000 crore were sanctioned till last week out ...

February 9, 2014 9:55 AM

Spectrum bids reach Rs 56555 crore after 42 rounds

Telecom firms have offered bids totaling over Rs. 56,554 crore for 900 and 1800 Megahertz, Mhz bands after 42 rounds at the end of sixth day of spectrum auction on Saturday.Telecom Secretary MF Farooqui said in New Delhi that Bids worth over Rs. 33,082 crore have been received for 1800 Mhz and Rs. 2...

February 8, 2014 9:03 PM

FinMin: Economic growth rate for current financial year not to be less than 5%

Finance Minister says, the economic growth rate for the current financial year will not less than 5 per cent. Chidambaram was commenting on the Central Statistics Office&apos;s projection of 4.9 per cent growth.Growth in 2012-13 slipped to a decade-low of 4.5 per cent. The economy expanded 4.6 p...

February 8, 2014 7:56 PM

S&P cuts outlook on Turkey's ratings to negative from stable<br/>

The credit rating agency, Standard &amp; Poor has cut its outlook on Turkey&apos;s ratings to negative from stable. It said that there were risks of a hard economic landing and that the country&apos;s policy environment was becoming less predictable. In a statement S&amp;P said Turke...

February 8, 2014 12:33 PM

Economy likely to grow by 4.9% in current fiscal

Economic growth in the current fiscal is estimated to rise by 4.9 per cent as compared to the growth rate of 4.5 per cent in 2012-13, with good performance of the farm sector. According to advanced estimates released by the Central Statistics Office, CSO in New Delhi, the growth rate in the manufact...

February 8, 2014 9:51 AM

RBI permits banks to use buffer to cover bad loans<br/>

The RBI has allowed banks to use one-third of their provisioning buffer for specific provisions for bad loans or non-performing assets. In a notification issued from Mumbai on Friday, the RBI has said that utilisation of this buffer could be made for additional provisions for financial distress, pro...

February 7, 2014 6:02 PM

Gold up Rs 30 to Rs 30,540 per ten grams in Delhi market

Gold rose 30 rupees, to 30,540 rupees per ten grams at Delhi&apos;s bullion market, today, on sustained buying by stockists, amid a firm global trend. But silver met with resistance and lost 300 rupees, to 44,800 rupees per kilo. Silver coins held steady at 87,000 rupees for buying 100 pieces. O...

February 7, 2014 2:31 PM

7th pay panel award date after commission submits report : Chidambaram

The Lok Sabha was informed today that the 7th Central Pay Commission is broadly in line with the composition of the previous Central Pay Commission. It will examine all aspects of emoluments&apos; structure of various categories of Central Government employees including Defence personnel.In a wr...

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