Individual bankers should take onus for loan sanctions: RBI Governor

Reserve Bank Governor Raghuram Rajan on Tuesday said there is a need to shift loan sanctioning process from the present committee-based approach to single banker taking up the responsibility. He also suggested for rewarding the person if the project goes on well.Addressing the annual bankers confere...

India's wholesale inflation rate rises to 3.55%

Wholesale inflation soared to a 23-month high of 3.55 per cent in July as vegetables, pulses and sugar turned costlier. The wholesale price-based inflation, reflecting the annual rate of price rise, in June stood at 1.62 per cent. In July last year, WPI inflation was minus 4 per cent.Wholesale price...

Petrol prices slashed by Rs. 1 per litre, diesel by Rs. 2

Price of petrol was cut by Rs. 1 a litre, and diesel by Rs. 2 per litre. This is the fourth reduction in rates since July. The new prices came into effect midnight last night. Indian Oil Corp, IOC said, Petrol will now cost Rs. 60.09 a litre in Delhi as compared to Rs. 61.09 a litre currently. The p...

Wall Street: All three major indices advanced to fresh record highs

On Wall Street, all three major indices advanced to fresh record highs on Monday, led by gains in commodity-linked shares as crude oil prices reached a one-month high. So the Dow Jones industrial average gained 60 points or 0.3 percent, to close at 18,636. The Standard & Poor's 500 ...

Prices of moong, arhar, gram daals, maida falls in wholesale market

Prices of moong, arhar, gram daals and maida have decreased in the wholesale foodgrain market. On Tuesday, moong dal opened at 7,500 rupees, a sharp fall of 800 rupees per quintal. Arhar was down by 200 rupees per quintal to 12,500 rupees. Gram dal was lower by 400 rupees per quintal to 9,500 rupees...

1st BIO-CNG project in India inaugurated in Pune

The first ever BIO-CNG project in India was inaugurated on Sunday in Pune, by the hands of Union Minister of surface Transport Nitin Gadkari and Defence Minister Manohar Parrikar. Speaking on this occasion, Mr. Gadkari said that Bio-Fuel will help in reducing the import of diesel up to 50 % and ther...

FM calls for reforms at municipal levels for ease of doing business

RBI should continue with Rajan's policies on inflation: Moody's

Moody's Investors Service has said, RBI Governor Raghuram Rajan's policy of tight leash on inflation has showed results and Reserve Bank should continue with similar policies and communication going forward. Moody's Investors Service Senior VP Sovereign Risk Group Marie Di...

1st BIO-CNG project in India inaugurated in Pune

The first ever BIO-CNG project in India was inaugurated on Sunday in Pune, by the hands of Union Minister of surface Transport Nitin Gadkari and Defence Minister Manohar Parrikar. Speaking on this occasion, Mr. Gadkari said that Bio-Fuel will help in reducing the import of diesel up to 50 % and ther...

FM Arun Jaitley calls for reforms at municipal levels for ease of doing business