Business

July 15, 2015 9:06 PM

Exports dip 15.82 per cent in June to USD 22.3 billion

Falling for the seventh straight month, the country's exports plunged 15.8 per cent in June, year-on-year, to 22.3 billion dollars. Exports fell due to the global slowdown, and a fall in crude oil prices that impacted shipments of petroleum products. According to data released by the Commer...

July 15, 2015 8:55 PM

RBI sets up panel for action plan on financial inclusion

The Reserve Bank of India has set up a committee to work out a five-year action plan to spread the reach of financial services to unbanked population. According to a press release issued by RBI today, the 14-member panel, to be headed by RBI executive director Deepak Mohanty, will review the existin...

July 15, 2015 11:03 AM

Rupee strengthens by 4 paise to 63.35 against dollar

The rupee strengthened by 4 paise to 63.35 against the US dollar in early trade today at the Interbank Foreign Exchange on selling of American currency by exporters. A fall in dollar against major world currencies globally also helped strengthen the domestic currency. The rupee had recovered 13 pais...

July 14, 2015 8:24 PM

FDI up 48% since 'Make in India' campaign launch

The Foreign Direct Investment equity inflows has increased by 48 per cent during October 2014 to April 2015 as compared to the corresponding period last year. The increase in FDI is attributed to the launch of Make in India initiatives in September last year. In 2014-15, the country witnessed unprec...

July 14, 2015 7:49 PM

RBI concerned over cases against banks in Maha on farm loans

RBI deputy governor S S Mundra today said that initiating criminal proceedings against banks for "not" meeting farm loan target is not the right thing to do. Speaking to reporters in Mumbai today, Mr. Mundra said RBI is deeply concerned and has flagged this issue with the Finance M...

July 14, 2015 7:33 PM

FDI up 48% since 'Make in India' campaign launch

The Foreign Direct Investment equity inflows has increased by 48 per cent during October 2014 to April 2015 as compared to the corresponding period last year. The increase in FDI is attributed to the launch of Make in India initiatives in September last year. In 2014-15, the country witnessed unprec...

July 14, 2015 2:36 PM

Government to cap kerosene subsidy at Rs 12 per litre

Government has decided to cap the subsidy payout on kerosene at Rs 12 per litre. Kerosene is sold through public distribution system at Rs 14.96 per litre against the actual cost of Rs 33.47. The difference of Rs 18.51 per litre is termed as under-recovery or revenue loss. A senior official said the...

July 14, 2015 1:59 PM

Government caps kerosene subsidy at Rs 12 per litre

Government has decided to cap the subsidy payout on kerosene at Rs 12 per litre. Kerosene is sold through public distribution system at Rs 14.96 per litre against the actual cost of Rs 33.47. The difference of Rs 18.51 per litre is termed as under-recovery or revenue loss. A senior official said the...

July 14, 2015 1:09 PM

Wholesale inflation falls further to (-)2.4% in June

Wholesale price inflation continued in the negative territory in June falling further to - 2.4 percent from - 2.36 percent in May. According to data released by the Ministry of Commerce and Industry, the annual rate of inflation, as per the official wholesale price index, stood at 5.66 percent in th...

July 13, 2015 8:46 PM

Retail inflation at 8-month high of 5.4 pc in June

Retail inflation rose to an eight-month high of 5.4 per cent in June this year, from 5.01 per cent in May. Retail inflation measured in terms of the Consumer Price Index had stood at 6.77 per cent in June last year. According to official data, overall retail food inflation increased to 5.48 per cent...

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