Stocks on Wall Street fell sharply on Friday

Stocks on Wall Street fell sharply on Friday as jitters in emerging markets spooked investors. In New York, the Dow Jones fell 318.24 points, just shy of 2%. The Nasdaq fell 2% to 4130.44, while the S&P 500 also dropped 2% to end at 1790.31. On Thursday, Argentina abandoned efforts to defend...

Prior 2005 bank notes will continue to be legal tender: RBI

In view of the apprehensions raised regarding the move to withdraw banknotes printed prior to 2005, the Reserve Bank of India, RBI todayclarified that its aim was to remove these notes from the market as they have fewer security features compared to the notes printed after 2005.In a press release is...

PAN allotment to undergo change from 3rd of next month

The procedure for Permanent Account Number (PAN) allotment will undergo a change from the 3rd of next month. According to an official release, every PAN applicant has to submit self-attested copies of Identity Proof, Address Proof and Date of Birth documents and also produce original documents for v...

Sensex dips 240 points on profit booking: Closes at 21,134

Snapping a four-day winning streak, the Sensex at the Bombay Stock Exchange dropped 240 points from a record closing high, to end at 21,134, on profit booking by investors, amid falling global markets, today. The Nifty at the National Stock Exchange declined 79 points, or 1.2 percent, to 6,267.

Finance Ministry nod for Rs 1000 minimum monthly pension plan for workers in organised sector

The Finance Ministry has approved a proposal for providing a minimum monthly pension of 1,000 rupees to the workers of the organised sector, under the Employees' Pension Scheme. This would benefit around 27 lakh people. Pensioners are expected to get benefit with effect from April 1 this ye...

Country's growth story intact, reiterate Indian leaders at WEF meet in Davos

Rupee loses 20 paise to quote at 62.13 vs Dollar

The rupee today fell 20 paise to 62 rupees 13 paise against the US dollar in early trade at the Interbank Foreign Exchange market on increased demand for the American currency from importers. The rupee had lost 12 paise to close at two-week low of 61 rupees 93 paise against the dollar yesterday.

Highest ever broadband speed achieved by UK scientists; no more costly upgrades

Scientists in the UK have achieved the fastest ever broadband speeds of 1.4 terabits per second, enough to transmit 44 high-definition movies at once.The British Telecom and a French networking equipment company jointly tested the high speeds of 1.4 terabits per second on the existing fibre network ...

Favour free ATM services: Finance Services Secretary Takru

Financial services secretary Rajiv Takru has said that he favours free ATM services as they exist now. Speaking to reporters in Mumbai on Thursday, Mr. Takru said that if these services are made expensive then customers may end up at bank counters and warned that a teller service is far more expensi...

New RBI guidelines for loan restructuring norms by NBFCs

In order to minimise the risk of defaults, RBI has issued revised guidelines for loan restructuring norms by non-banking financial companies, NBFCs. In a notification issued from Mumbai yesterday, RBI said that rules for restructuring loans by NBFCs will be the same as those of banks.The key provisi...