Govt provides fiscal incentives for promoting wind energy projects

Government is providing fiscal incentives for promoting wind energy projects in the country. This includes 80 percent accelerated depreciation, concessional import duties on certain components of wind electric generators, excise duty exemption and ten years tax holiday on income generated from wind ...

The Government has said nationalized banks cannot stop disbursement of loans for fear of poor recovery. Replying to supplementaries in the Lok Sabha today, the Finance Minister Mr. Pranab Mukherjee, said that a balanced approach is needed to disburse loans in the priority sector. He said all necessa...

Strike disrupts normal banking operations

Sensex loses over 500 pts; Asian stocks slump

The BSE benchmark Sensex which plunged by 467 points in early trade today, lost more of its ground and was trading 564 points in the negative territory at 17,129 when reports last came in.The 30-share Sensex, which had lost nearly 620 points in the previous three straight sessions, tanked another 46...

Strike disrupts normal banking operations

Rupee falls by 25 paise to five-week low against dollar

The rupee today fell by 25 paise to trade at nearly five-week low of 44 rupees 79 paise against the US dollar in early trade.Dealers said dollar strength against the euro and a lower opening in the stock markets mainly put pressure on the rupee, which slumped to a five-week low.The rupee had closed ...

Cabinet clears equity infusion of <img src="rs.png" border="0" height="10"> 1,200 cr in Air-India

The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved an equity infusion of 1,200 crore rupees into Air India. According to an official press release, this decision will not only ease the cash flow situation of the Company but also preclude borrowings from markets at high cost. The r...

Oil prices down in Asian trade

Oil prices fell in Asian trade today after plunging more than five percent overnight. This follows weakening global economy and eurozone debt crisis threatening energy demand.New York&apos;s main contract, West Texas Intermediate light, sweet crude for delivery in September, was down 92 cents to...

Asian stocks slump on US sell-off

Asian stock markets have slumped; extending a global equity sell-off after Wall Street had its worst day for almost three years. Japan&apos;s main Nikkei 225 index shed 3.4 per cent to 9,329.75. South Korea lost 4.2 per cent while Australia slid 2.4 per cent.

Sensex plunges 467 points in early trade

The Bombay Stock Exchange benchmark Sensex plunged by 467 points in early trade on heavy selling by funds and investors in line with melting global markets. The 30-share Sensex, which had lost nearly 620 points in the previous three straight sessions, tanked another 467 points to trade at 17,226 poi...