RBI may consider further cut in CRR: Gokarn

RBI Deputy Governor Subir Gokarn has said that the apex bank will consider a further cut in the cash reserve ratio, CRR if the systemic liquidity conditions continue to be tight. He, however, ruled out any immediate action and said that if another round of CRR reduction is to happen, it can happen i...

No need to file IT returns for salaried employees earning up to <img src="rs.png" border="0" height="9px" /> 5 lakh

Salaried employees earning up to 5 lakh rupees a year will not be required to file income tax returns from this year. A Finance Ministry notification said that the exemption from filing will be permitted only if the person has received a certificate of tax deduction in Form 16 from his or her employ...

Curtain down on Gulf Food-2012 today

RBI panel calls for 8 percentage points hike in PSL target for foreign banks

A Reserve Bank of India panel has called for a steep 8 percentage points rise in the priority sector lending, PSL, target for foreign banks to 40 per cent to bring them at par with the domestic banks. The PSL re-examining committee also came up with a slew of other recommendations such as doing away...

Sensex shoots up to 7 month high

The Sensex at the Bombay Stock Exchange on Tuesday climbed 139 points, or 0.8 percent, to a 7-month high of 18,429 on continued foreign funds inflows. The Nifty at the National Stock Exchange rose 43 points, or 0.8 percent, to 5,607. Stock markets in Japan, China, Hong Kong, South Korea and Singapor...

Deposits outside country to attract wealth tax

Deposits in banks located outside the country may attract wealth tax, as part of government&apos;s drive to unearth black money. The proposal is part of the Direct Taxes Code (DTC) bill. The draft legislation is being scrutinised by a Parliamentary panel. According Finance ministry this is one o...

India invites US to participate in port development

Country must target double digit growth: Pranab

Finance Minister Pranab Mukherjee today said the country needs to target a double-digit growth rate. Addressing a conference of the industry chamber Assocham in New Delhi, Mr Mukherjee attributed economic slowdown toReserve Bank&apos;s tight money policy and global financial problems, He said, t...

Country must target double digit growth: Pranab<br/>

Finance Minister Pranab Mukherjee today said the country needs to target a double-digit growth rate. Addressing a conference of the industry chamber Assocham in New Delhi, Mr Mukherjee attributed economic slowdown toReserve Bank&apos;s tight money policy and global financial problems, He said, t...

Oil Asia posts gains after Greece bailout

Oil prices extended gains in Asian trade today after eurozone finance ministers sealed a deal on a massive new bailout for Greece. New York&apos;s main contract, light sweet crude for delivery in March was 1.78 dollars higher at 105.02 dollars per barrel, and Brent North Sea crude for April deli...