Business

March 13, 2015 7:32 AM

Mandatory documents required for export & import reduced to three

India has reduced the number of mandatory documents required for import and export of goods to three document each. Currently, around 10 documents are needed to fulfill the official obligations. The move will lead to reduction in transaction of cost and time. Directorate General of Foreign Trade has...

March 13, 2015 7:32 AM

Spectrum auction bids cross Rs 1 lakh cr mark

The government has garnered bids worth of over one lakh crore rupees from telecom operators at the end of eighth day of auction process of spectrum bands. Till now, 49 rounds of bidding have taken place. An official release said, there is aggressive bidding going on in all bands of 2100 Mega Hertz, ...

March 12, 2015 8:30 PM

Industrial production grows 2.6% in January

The country's industrial production grew 2.6 percent in January this year, mainly on account of better performance of the manufacturing sector and better off take of capital goods. Growth in factory output in December last year has been revised upwards to 3.23 per cent, from the earlier est...

March 12, 2015 8:29 PM

February retail inflation edges up to 5.37% on costlier food items

Retail inflation inched up to 5.37 per cent in February this year from the previous month, due to higher prices of food items, including vegetables. Consumer price-based inflation in January this year has been revised upwards to 5.19 per cent, from 5.11 per cent estimated earlier. Retail inflation i...

March 12, 2015 8:36 AM

RBI organizes Note & Coin Exchange Mela in Kolkata

In Kolkata, the Reserve Bank of India (RBI) organized a Note and Coin Exchange Mela at Howrah Station. Regional Director of RBI Mr. R. N. Kar said that adequate quantity of good quality notes and coins is being supplied by RBI to the banks. He urged the people to approach the banks for meeting their...

March 12, 2015 8:36 AM

Nine Executive Directors appointed in Public Sector Banks

The Government appointed nine Executive Directors in Public Sector Banks. The Appointments Committee of the Cabinet has approved the appointments. Mr Charan Singh will be the Executive Director of UCO Bank and Mr K.Venkata Rama Moorthy will be the Executive Director of Bank of Baroda. Mr R.P.Marathe...

March 12, 2015 8:00 AM

Finance Ministry allows 7 PSBs to raise funds from markets<br/>

The Finance Ministry has allowed seven public sector banks (PSBs) to tap markets for raising capital needed for expansion and meeting global capital adequacy norms. Citing fiscal constraints to allocate more Budgetary resources for capital infusion in Public Sector Banks, the government said that ba...

March 12, 2015 7:13 AM

IMF raises India's growth forecast to 7.2 pc for current fiscal<br/>

The International Monetary Fund (IMF) has raised India&apos;s growth forecast for the current fiscal to 7.2 per cent. In its annual assessment report for the country, IMF said that India has emerged as one of the fastest-growing big emerging market economies and the growth rate would grow by 7.5...

March 12, 2015 6:36 AM

Govt garners Rs 96000 cr on 7th day of spectrum auction

The government has garnered bids worth of 96,000 crore rupees from telecom players at the end of seventh day of auction process yesterday. Till now, 43 rounds of bidding have taken place and the government may rake in more than 1 lakh crore rupees from the spectrum sale, if bidding continues at the ...

March 11, 2015 8:58 PM

Govt garners Rs 96000 cr on 7th day of spectrum auction

The Government has garnered bids worth of 96,000 crore rupees from telecom players at the end of seventh day of auction process today. Till now, 37 rounds of bidding have taken place and the government may rake in more than 1 lakh crore rupees from the spectrum sale, if bidding continues at the robu...

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