Business

January 9, 2014 12:08 PM

RBI relaxes gold loan norms

People seeking loan against gold jewellery can now borrow more. The Reserve Bank of India has allowed Non-Banking Financial Companies, NBFCs to lend up to 75 per cent of the value of gold.It was 60 per cent earlier. RBI said, it has been done in view of the moderation in the growth of gold loan port...

January 9, 2014 12:06 PM

Rupee declines by 10 paise in late morning trade

Trimming initial losses, the rupee was down 10 paise in late morning trade today at 62 rupees 17 paise against the dollar. This was attributed to mild demand for the American currency from banks and importers due to higher greenback overseas. After gaining 23 paise to close at a one-week high of 62 ...

January 9, 2014 12:05 PM

Sensex flat in morning trade

Trimming initial gains, the Sensex at the Bombay Stock Exchange was trading flat in late morning trade, a short while ago. The 30-share index, which opened 42 points in the green, was trading just 2 points in the positive territory at 20,731, when reports last came in.The Nifty at the National Stock...

January 9, 2014 9:32 AM

Sensex posts small gain at close; rupee ends stronger

Snapping a five-day losing streak, the Sensex at the Bombay Stock Exchange ended with a small gain of 36 points, or 0.2 percent, at 20,729, today. The Nifty advanced 12 points, to 6,175.Stock markets in Japan, Hong Kong and Singapore rose between 1 percent and 1.9 percent. The rupee closed 23 paise ...

January 9, 2014 9:31 AM

India-Korea Fin Min meet ends; Future roadmap charts closer trade ties

India and Koreaon Wednesday, agreed to make efforts to expeditiously conclude the revision of double taxation avoidance pact after reviewing their positions on major pending issues. Both the nations also agreed to consider issuing licences for establishing bank branches and offices in each other&amp...

January 9, 2014 9:27 AM

Govt to retain policy of allowing 100% FDI in existing pharma firms

The government on Wednesday, decided to retain the policy of allowing 100 per cent FDI in the existing pharma firms. In a statement, the Department of Industrial Policy and Promotion, however, said that as far as the contentious issue of non- compete clause is concerned, the Foreign Investment Promo...

January 9, 2014 9:25 AM

SEBI ushers in new regime for overseas investors

Ushering in a new regime for overseas investors as FPIs (Foreign Portfolio Investors), Securities and Exchange Board of India - Sebi on Wednesday, issued operating guidelines for depository participants to register these new entities.This will help ensure that their combined holding in any listed co...

January 8, 2014 6:07 PM

Gold prices fall in London markets<br/>

Gold prices have fallen in London markets for the second day in a row. This follows speculation that US data will strengthen the dollar and boost the case for the Federal Reserve to slow stimulus. The yellow metal fell by 0.6 per cent to 1,224 dollars an ounce and silver by 1.8 per cent to 19.52 dol...

January 8, 2014 5:57 PM

Economy to grow at 5 per cent during current fiscal, says Finance Minister

Finance Minister P.Chidambaram has said that the Indian economy will clock five percent growth during the current financial year despite sluggish growth in the world economy. He said the fundamentals of the Indian economy are strong and the government is focussing on financial sector reforms. The Fi...

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