Brexit results trigger financial turmoil across globe; Sensex sheds over 800 pts

Stock markets were beaten down across the world, today, after Britain voted, in an historic referendum, to leave the European Union. At home, the Sensex at the Bombay Stock Exchange had plummeted 811 points, or 3 percent, to 26,192, a short while ago. At one stage the market had crashed over 1,000 p...

Mixed response over UK's exit from European Union

Industry bodies have given mixed response over UK's exit from European Union. Federation of Indian Chambers of Commerce and Industry (FICCI) has congratulated the UK over its exit. FICCI in a statement said the world is an increasingly globalized one and this is an important result not just...

Arun Jaitley woos Chinese firms to invest in India's infra sector

Making a strong pitch for Chinese investments in India's expanding infrastructure sector, Finance Minister Arun Jaitley today said India will be the only economy in the world which is poised to grow at 7.5 to 8 per cent in an unsupportive global environment.Addressing 'Invest in In...

RBI releases framework on payments systems

FDI is the need of hour for development: Venkaiah Naidu

Union Minister for urban development M. Venkaiah Naidu on Thursday said that foreign direct investment is the need of hour for the development of the country.Speaking to news persons after participating the BJP working committee in Jaipur, he said that there are only two ways to raise the fund for d...

Indian industry should adopt global standards to sustain in market: Sitharaman

Commerce and Industry Minister Nirmala Sitharaman said Indian industry should adopt global standards to sustain in market.Inaugurating National Standards Conclave on Challenges and Technical Regulations in New Delhi on Thursday, the minister said it must be recognized that the days of differential s...

India-China secretaries level financial dialogue postponed

India-China financial dialogue at the level of Secretaries which was due to be held next week has been postponed for the time being.The Postponement has been necessitated because of inability of India's Economic Affairs Secretary Shaktikanta Das to travel to Beijing for the meeting which wa...

Govt closely tracking developments in UK: Shaktikanta Das

Before the voting on referendum, Economic Affairs Secretary Shaktikanta Das on Thursday said that Government is closely tracking developments in the United Kingdom. In a tweet, Mr Das said, India is well prepared.

Govt extends date for reporting accounts details under FATCA

Government has extended the date for reporting details of accounts under Foreign Account Tax Compliance Act (FATCA) by six months to December 31, 2016.An official release said, Central Board of Direct Taxes (CBDT) also excluded 'withholding foreign partnership (WP) and withholding foreign t...

Brexit: RBI says keeping close vigil on developments

In the run up to the 'Brexit' referendum tomorrow, the Reserve Bank of India has said that it is keeping a close watch on all the developments. In a statement issued from Mumbai today, RBI said it will take all necessary steps including liquidity support to ensure orderly condition...