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October 6, 2018 1:21 PM
RBI has kept all key policy rates unchanged in its fourth bi-monthly monetary policy review announced yesterday. A six-member Monetary Policy Committee (MPC), headed by Governor Urjit Patel, decided to keep the repo rate unchanged at 6.5 percent and the reverse repo rate at 6.25 percent. Repo rate i...
October 5, 2018 8:50 PM
Minister of Commerce and Industry, Suresh Prabhu today announced the setting up of a fast track, single-window mechanism to promote Russian investments in India. The Minister was addressing the India - Russia Business Summit organized by the Department of Industrial Policy and Promotion (DIPP), Inve...
October 5, 2018 8:22 PM
Reserve Bank of India (RBI) will announce its bi-monthly monetary policy review on Friday. Experts believe that the Central Bank may raise policy rates by 25 basis points, for the third time this year amid surging crude oil prices and weakening rupee.
October 4, 2018 8:45 PM
Benchmark domestic stocks today nosedived more than two percent amid falling rupee, crude prices hike and negative global cues. Sensex at the Bombay Stock Exchange fell 806 points or 2.24 percent to 35,169. The Nifty at the National Stock Exchange also slipped 259 points or 2.39 percent to 10,599....
October 4, 2018 8:39 PM
The government has decided to cut Rs 2.50 per litre on both petrol and diesel. Out of this, the oil marketing companies will absorb one rupee per litre and Excise duty on petrol, diesel to be cut by one rupee 50 paise. Addressing a press conference in New Delhi today, Finance Minister Arun Jaitley ...
October 4, 2018 8:03 PM
Minister of Commerce and Industry, Suresh Prabhu today chaired an inter-ministerial meeting on the issue of trade deficit and its impact on rupee as well as ways to boost exports. The meeting was attended by Secretaries of 16 Ministries and concerned departments of the government in New Delhi. Disc...
October 4, 2018 5:00 PM
The provisional gross collections of Direct Tax up to September this year is higher than the collections for the corresponding period of last year. It is 16.7 per cent higher at 5.47 lakh crore rupees. Finance Ministry, in a release, today said the refunds amounting to 1.03 lakh crore rupees have b...
October 4, 2018 12:30 PM
The Rupee hit a new low against the US dollar today. It plunged 43 paise to 73 rupees and 77 paise against the American currency. The Sensex at the Bombay Stock Exchange tanked 756 points to trade at 35,219 a short while ago. The Nifty was also down 242 points at 10,616.
October 4, 2018 7:39 AM
The Reserve Bank of India (RBI) has allowed state-owned oil companies to borrow long term working capital from overseas. RBI relaxed the policy on borrowing up to 10 billion US dollar from the overseas by the state owned fuel retailers. Till now oil marketing companies including Indian Oil Corp, ...
October 4, 2018 7:22 AM
Reserve Bank has imposed a penalty of five crore rupees on Federal Bank for non-compliance of certain RBI directions among other deficiencies. In a press release issued yesterday, RBI said Federal Bank had failed to report large borrower exposure for assessment under risk-based supervision. The ban...
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