Decision to cut interest rates on PPF, KVP taken to make economy more efficient: Jaitley

Government today said the decision to cut the interest rates payable on small savings including PPF and Kisan Vikas Patra has been taken to make economy more efficient. Replying to a media query in New Delhi, Finance Minister Arun Jaitley said the savings schemes are market linked and as debt has go...

Sensex surges 275 points; Rs appreciates 25 paise against dollar

The domestic stock markets resumed their winning ways, today, to end at an over two-month high, while the rupee continued to make solid gains against the dollar. The Sensex at the Bombay Stock Exchange surged 275 points, or 1.1 percent, to close at 24,953, on across-the-board buying by investors. Th...

Interest rate on small savings including PPF, KVP slashed

The government today cut the interest rates payable on small savings including Public Provident Fund, PPF and Kisan Vikas Patra KVP to align them closer to market rates. The interest rate on PPF scheme will be cut from 8.7 per cent to 8.1 per cent from 1st of April. According to a Finance Ministry o...

38 CPSUs achieve target of 20% public procurement from MSMEs

Thirty eight Central Public Sector Undertakings (CPSU) have achieved the target of 20 percent public procurement from MSMEs in the current financial year. This was revealed in a meeting chaired by Union Minister for MSME, Kalraj Mishra organized to review the implementation of Public Procurement fro...

RBI asks banks to remain open full day on Mar 30 and Mar 31

Reserve Bank has asked banks to keep their branches, which conduct government business, open for full day on March 30 and till 8 pm on March 31 to facilitate the transactions before annual closing of government accounts. In a notification issued in Mumbai, RBI said that the government has desired th...

India signs $35 mn loan with WB for MP project

India today signed loan agreement of 35 Million dollars with the world bank for Madhya Pradesh citizen access to responsive services project. The objective of the project is to improve access and quality of public services in the state. Ministry of Finance in a release said, the project is expected ...

SBI consortium starts e-auction of Vijay Mallya's Kingfisher House in Mumbai

Airtel to buy Videocon's spectrum in 6 circles for Rs 4,428 cr

Bharti Airtel today said it will acquire Videocon telecommunications's spectrum in six circles in the 1800 MHz Band for a consideration of Rs 4,428 crore. The six circles are Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat. The aforesaid spectrum is valid upto December 18, ...

Feeling global slowdown, US Fed keeps interest rate unchanged

United States Federal Reserve has kept its interest rate unchanged citing the impact of the global slowdown and turmoil in world markets. The Fed Reserve also cut its outlook for the US economy and gave a picture that is less bullish than many had expected for the American economy. Fed Chair Janet Y...

PFRDA chief hails NPS tax exemption

Pension Fund Regulatory and Development Authority Chairman Hemant Contractor today said the total number of Subscribers to National Pension System has reached 1.18 crore. Addressing media in New Delhi, the chairman said that launch of online platform, e-NPS and announcement of additional tax benefit...