Sensex up 70 points at 17,632

The BSE benchmark Sensex gained nearly 70 points in early trade today or 0.39 per cent, to 17,632. Buying in capital goods, refineries, power, auto and metal stocks helped the Sensex gain. In a similar fashion, the wide-based National StockExchange Nifty Index moved up by 19 points, or 0.35 percent,...

Switzerland ready to share bank account info with India

Switzerland has indicated it is ready to cooperate with India on sharing information related to Swiss bank accounts held by Indians within the framework of amended double taxation treaty between the two countries. Swiss Ambassador to India Philippe Welti told reporters in New Delhi yesterday. He was...

Gold, silver surge at bullion market

Gold rose 225 rupees, to 28,540 rupees per ten grams at Delhi's bullion market, today, on marriage season demand, and a firm overseas trend. Silver rose 200 rupees, to 56,700 rupees per kilo, on pick-up in demand from industrial units and coin-makers. Silver coins shot up 3,000 rupees, to 6...

Oil gains in Asian trade

Oil was higher in Asian trade today on hopes that Greece's plans to form a unity government would resolve the country's debt woes, analysts said.New York's main contract, light sweet crude for December delivery was 24 Cents higher at 94.50 US Dollars a barrel and Brent Nor...

India, US join hands to fight tax evaders

India and the US have joined hands to crack down tax evaders and bring to book those who have stashed black money in tax havens abroad. In a first of series of engagements between the two nations, a team of investigators drawn form investigation units in the Union Finance Ministry and the recently s...

Priority sector Bank lending grows lower in Sept 2011

Bank lending to the priority sector grew at a lower rate of 11.1 percent in September 2011, against the growth of 19.1 percent inthe same month last year, on account of lower offtake by agriculture and housing segments and fall in micro credit. According to the Reserve Bank of India data, credit dis...

CII calls for conducive environment to boost trade in SAARC region

RBI followed 'conventional' method to control inflation: Basu

Chief Economic Adviser to the Ministry of Finance Kaushik Basu said the Reserve Bank followed conventional methods of raising interest rates to tame inflation which do not seem to have worked. Talking to reporter in Kolkata Mr Basu said he expressed concern about the use of traditional methods by RB...

Conventional method to tame inflation by RBI not working: Kaushik Basu

Chief Economic Adviser to the Finance Ministry Kaushik Basu says, the conventional method of raising interest rates by the Reserve Bank to tame inflation does not seem to have worked. The central bank has hiked interest rates 13 times since March 2010 in its bid to tame inflation.Basu told reporters...

Conventional method to tame inflation by RBI not working: Kaushik Basu

Chief Economic Adviser to the Finance Ministry Kaushik Basu says, the conventional method of raising interest rates by the Reserve Bank to tame inflation does not seem to have worked. The central bank has hiked interest rates 13 times since March 2010 in its bid to tame inflation. Basu told reporter...