UCB not allowed to issue co-branded credit cards: RBI

Reserve Bank of India in its guidelines on credit card operations by urban cooperative banks (UCBs) has said that they are permitted to issue general purpose cards to their customers, but are not allowed to issue co-branded credit cards. General purpose cards are those that are issued under the trad...

Govt urges States to consider unified agriculture market for farmers's benefits

Government today urged states to think about the unified agriculture market for the states so that farmers can sell their agriculture produce at single place. Addressing the meeting of the consultative committee of Ministry of Agriculture in New Delhi, Agriculture Minister Radha Mohan Singh said, th...

SEBI replaces colour codes for mutual fund with 'riskometer'

The Securities and Exchange Board of India has replaced the mandatory colour codes with a 'riskometer' that will help investors to understand better the risks involved in mutual fund investments. In a circular issued from Mumbai today, SEBI has said that the existing colour codes w...

Blackmoney: IT dept files 121 cases against HSBC account holders

The Income Tax department has slapped 121 cases against entities whose names have appeared in the HSBC Geneva bank list even as undisclosed income to the tune of 4,800 crore rupees has been brought under tax net in these cases at the end of the last fiscal. Quoting sources, PTI reports that the case...

Govt takes number of steps to promote MSMEs: Kalraj Mishra

Conduct stress test regularly on money mkt schemes: Sebi to AMCs

8 core sectors production drops 0.1% in Mar; a 15-month low

Eight core industries registered a negative growth of 0.1 per cent in March, the lowest performance in 15 months, due to a steep decline in production of steel, cement and refinery products. The output had expanded by 4 per cent in March last year. The previous low logged by the core industries was ...

SAIL prepares hot metal production target of 50 million tonnes by 2025

Steel Authority of India Limited has prepared a draft vision envisaging hot metal production target of 50 million tonnes by 2025. Replying to a question in the Rajya Sabha, Minister for Steel Narendra Singh Tomar said the estimated investment for achieving the target will be around one lakh 50 thous...

World Bank extends support to quake-hit Nepal

The World Bank has extended support to earthquake-hit Nepal. World Bank President Jim Yong Kim has said the global body would help the Himalayan country in assessing the damage and reconstruction work. He said that World Bank is in close contact with the Nepalese authorities and will do everything p...

US economic growth slows sharply

The United States economic growth slowed sharply in the first three months of this year. Yesterday's report from the Commerce Department said, the gross domestic product expanded at an annual rate of just two tenths of a percent. That is much slower than the 2.2 percent rate of the last qua...