Business

June 13, 2015 8:45 AM

Railway Ministry decides to run Suvidha trains

Railway Ministry has decided to run Suvidha trains from next month with dynamic fares to address the rush during peak travel seasons. An official release said, these trains will have dynamic fare system and there will not be any downward movement of the fare. Depending upon the demand, these trains ...

June 13, 2015 7:39 AM

Railways decides to stagger booking of Tatkal tickets

Railways has decided to stagger booking of Tatkal tickets by allowing reservations in AC class from 10 AM onwards and Non-AC class from 11 AM onwards. The new Tatkal booking schedule will come into effect from Monday. According to an official release, all types of ticketing agents will now be debarr...

June 12, 2015 8:30 PM

Retail inflation up at 5.01% in May

Retail inflation edged up to 5.01 per cent in May this year, on the back of a higher rate of price rise in pulses. Consumer Price Index-based inflation had stood at 4.87 percent in April this year, and 8.33 per cent in May last year. According to data released by the Ministry of Statistics &...

June 12, 2015 8:25 PM

Growth in industrial production improves to 4.1 % in April

Growth in the country's industrial output rose to a two-month high of 4.1 per cent in April this year, mainly lifted by the manufacturing sector. Growth in factory output, as measured by the Index of Industrial Production, had stood at 3.7 per cent in April last year. According to data rele...

June 12, 2015 9:09 AM

US becomes world's largest oil producer, surpasses Saudi Arabia

United States became the world's largest oil producer in 2014, according to a report by the BP energy company. BP economist Spencer Dale credits the shale revolution for a surge in American oil production that helped US producers leapfrog over Saudi Arabia. American output of natural gas an...

June 12, 2015 8:07 AM

RBI allows AIFIs to reverse excess provision on sale of NPAs

Reserve Bank of India has allowed All-India Term Lending and Refinancing Institutions (AIFIs) such as Exim Bank and Nabard to reverse the excess provision on sale of non-performing assets (NPAs) sold prior to February 26, 2014 to asset reconstruction companies to their profit and loss account. The g...

June 12, 2015 8:05 AM

Arun Jaitley to review financial performance of PSBs today

Finance Minister Arun Jaitley will hold the quarterly review meeting of the Chief Executive Officers of the Public Sector Banks and Financial Institutions in New Delhi today. Mr Jaitley will broadly review the annual financial performance of the Public Sector Banks during the Financial Year 2014-15....

June 12, 2015 7:29 AM

Utility bills valid proof of address to open account: RBI

Reserve bank of India has allowed postpaid mobile service, piped gas and water supply bills to be submitted as proof of address for opening account with banks or other financial institutions. The RBI in a notification issued in Mumbai said the utility bill which is not more than two months old are d...

June 11, 2015 7:42 PM

RBI extends ECB borrowing window for airlines till March 2016

The Reserve Bank today extended the deadline for aviation sector to raise funds through external commercial borrowings (ECBs) route by a year till March next year. As per the earlier guidelines, the scheme was valid till March 2015.In another notification, the RBI said the scheme of raising ECB for ...

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