RBI takes various steps for recovery of NPA: Jayant Sinha

India narrowing gap with China on FDI inflows: Nomura

India may this year surpass China in attracting foreign direct investment, in terms of percentage of its GDP, as the gap in inflows between the two has been narrowing on the back of ongoing reforms in the country. According to the Japanese financial services firm Nomura, the trend of rising inflows ...

Mallya not disclosing foreign assets: SBI to SC

A consortium of banks led by State Bank of India told Supreme Court that businessman Vijay Mallya is not cooperating in the investigation of cases lodged against him and is avoiding to disclose his foreign assets. Appearing for the central government, Attorney General Mukul Rohatgi, also told the ap...

Trade deficit with China growing, Govt admits in LS

The government has admitted in the Lok Sabha that trade deficit with China has been growing. Between April 2015 and February this year, the deficit stood at 48.68 billion US dollars compared to 48.45 billion US dollars in 2014-15. Stating this Commerce Minister Nirmala Sitharaman said China sends ma...

FinMin approves 8.7% interest on EPF for 2015-16

Finance Ministry has approved 8.7 per cent interest on Provident Fund deposits for over five crore subscribers of Employee Provident Fund Organisation, EPFO for 2015-16. The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments. This information was gi...

Mallya not disclosing foreign assets: SBI to SC

A consortium of banks led by State Bank of India told Supreme Court that businessman Vijay Mallya is not cooperating in the investigation of cases lodged against him and is avoiding to disclose his foreign assets. Appearing for the central government, Attorney General Mukul Rohatgi, also told the ap...

Govt hikes minimum wage for contract workers to Rs 10000

The minimum wage for contract workers has been increased to ten thousand rupees per month. This was informed by Labour Minister Bandaru Dattatreya in the Lok Sabha today. He said that the wage hike has been done based on a Supreme Court verdict. Asserting that the government is committed towards the...

FinMin approves 8.7% interest on EPF for 2015-16

Finance Ministry has approved 8.7 per cent interest on Provident Fund deposits for over five crore subscribers of Employee Provident Fund Organisation, EPFO for 2015-16. The EPFO pays rate of return to its subscribers on the basis of returns it generates from its investments. This information was gi...

IMF expects USD 500 billion revenue loss for Mideast oil exporters

The International Monetary Fund has said that oil exporting countries in West Asia lost a staggering 390 billion dollars in revenue due to lower oil prices last year. The IMF added that these countries should brace for even steeper losses of over 500 billion dollars this year. These losses translate...

P-Notes investment climbs to Rs 2.23 lakh crore

Investments through participatory notes, P-Notes, into the country's capital markets increased to Rs 2.23 lakh crore in March, after having hit an 18-month low in February. This also marks the first increase in investments via P-Notes in four months. But the percentage of FII investments vi...