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May 11, 2015 2:24 PM
Communication and IT Minister Ravi Shankar Prasad today launched a dedicated e-commerce Centre in New Delhi to cater the e-commerce business enterprises. Speaking on the occasion, Mr Prasad said, e-commerce business has grown up to 70 thousand crore rupees and with the capacity of handling 30 thousa...
May 11, 2015 2:18 PM
Eminent banker K.V. Kamath was today appointed as head of the 50 billion dollars New Development Bank being set up by the five emerging economies of BRICS grouping. Finance Secretary Rajiv Mehrishi in New Delhi said, Mr Kamath will have a five-year term of the bank, which is likely to be operational...
May 11, 2015 7:37 AM
State-run Small Industries Development Bank of India- Sidbi and Maharashtra Government have set up a 200-crore rupee venture capital fund, with a view to provide easy financing options to micro, small and medium entrepreneurs -MSMEs, which traditionally face hurdles in formal sources of funding. Whi...
May 8, 2015 10:05 PM
Government auditor CAG today flayed Department of Fertiliser for delaying contract finalisation saying this has resulted in an unavoidable subsidy burden of Rs 5,555 crore. In its recent report tabled in Parliament today, CAG said, fixation of benchmark at a lower level in comparison to the then pre...
May 8, 2015 9:05 PM
Comptroller and Auditor General, CAG has said that Railways has suffered a huge loss of over Rs 29,000 crore in freight earning due to the non-compliance of rules in iron ore booking during May 2008 and September 2013. In its latest report tabled in Parliament today, the CAG found that iron ore carr...
May 8, 2015 9:01 PM
The Comptroller and Auditor General, CAG today criticized the Telecom Ministry for giving Mukesh Ambani-led Reliance Jio Infocomm undue benefit of over Rs 3,367 crore by allowing it to provide voice calling on broadband spectrum. In its report tabled in Parliament today, CAG said Reliance Jio was th...
May 8, 2015 11:56 AM
Finance Minister Arun Jaitley has announced that a high-level committee, headed by Justice A P Shah, will look into the controversial issue of payment of Minimum Alternate Tax (MAT) by Foreign institutional investors. He said this while replying to a debate on Finance Bill in the Rajya Sabha yesterd...
May 7, 2015 7:49 PM
To protect investors from illegal mobilisation of funds, capital markets regulator Securities and Exchange Board of India (Sebi) has barred four companies and their directors from raising money by issuing securities.The move followed by a complaint against four companies including-Bishal Horticultur...
May 7, 2015 6:50 PM
Continuing its weakness for the fifth session, the rupee dipped below the 64-mark to end at 20 months' low of 64.23 against the American currency on sustained capital outflows by foreign funds. Sustained dollar demand from importers and banks kept pressure on the Indian unit. Recent surge i...
May 7, 2015 4:49 PM
Reliance Industries lead the pack of 56 Indian companies which figured in the world's 2000 largest and most powerful public companies. According to the Forbes's annual list issued in New York, US and China dominate the current global business landscape with top 10 spots for a secon...
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