Numaligarh Refinery Limited with Finland based Chempolis Limited jointly taking step to produce Ethanol from bamboo

RBI Governor asks global banks to keep it informed about any liquidity drain from their operations in India

Expecting global banks to weather the current turmoil, RBI Governor Raghuram Rajan has asked them to keep the Indian central bank informed about any liquidity drain from their operations in India. Addressing a banking conference organised by CII in Mumbai Thursday, Dr Rajan said at this point he doe...

RBI announces liquidity measures for March 2016

Reserve Bank of India has said it will inject adequate additional liquidity using a combination of appropriate instruments while continuing with its normal liquidity adjustment facility operations. The apex bank said this while announcing the liquidity measures for March 2016 Thursday.The RBI said, ...

Start-up with an overseas subsidiary is permitted to open foreign currency account abroad: RBI

Reserve Bank of India (RBI) has said a start-up with an overseas subsidiary is permitted to open foreign currency account abroad to pool the foreign exchange earnings. In view of the Government's 'Start-up India' initiative, regulatory relaxations are being given to them.R...

Sensex crashes 807 points to close below 23k mark

The domestic stock markets were battered down, today, in line with continued turmoil in the global bourses. The Sensex at the Bombay Stock Exchange sank a mammoth 807 points, or 3.4 percent, to 22,952. This is the biggest single-day fall of the Sensex in six months, and also a 21-month closing low. ...

UAE to store crude oil in India's strategic storage and give away two thirds of it for free

The UAE's national oil company Abu Dhabi National Oil (ADNOC) Company has agreed to store crude oil in India's maiden strategic storage and give two-third of the oil to it for free. India is building underground storage at Visakhapatnam , Mangalore and Padur to store about 5.33 mil...

Govt to revise small savings interest rates quarterly instead of annually: Shaktikanta Das

The government today said it will revise small savings interest rates every quarter, instead of annually. Speaking to reporters in New Delhi, Economic affairs secretary Shaktikanta Das said government will revise small savings rates in a day or two. He said interest rates on girl child, senior citiz...

Blackmoney: RBI invites applications for regularisation of declared wealth

IRDAI to continue cap on commission & other remuneration paid to insurance brokers

India nominee D J Pandian appointed as Vice-President of AIIB

India nominee D J Pandian has been appointed as Vice-President and Chief Investment Officer of the newly formed 100 billion dollar Asian Infrastructure Investment Bank (AIIB). Finance Ministry said in a statement, the primary responsibility of the Chief Investment Officer is leading the planning and...