‘RBI Does’t Act, Need to Criminalise Wilful Default’
Chennai, Feb 12 (IANS) The Reserve Bank of India (RBI) only notes cases of loan default but does not take any action and the only reform needed in India is action against wilful loan defaulters,…
Finance
Bad Loans Exposing Distress Among Indian Banks
Chennai, Feb 11 (IANS) The distress in India’s banking system is becoming evident by the day with more of these financing institutions reporting poor results in the third quarter of this fiscal, amid mounting bad…
RBI Had Rejected Headley’s Application to Open Business Account
Mumbai, Feb 11 (IANS) The Reserve Bank of India had rejected an application by Lashkar-e-Taiba (LeT) terrorist-turned-approver David Coleman Headley seeking clearance to open a business account in June 2007, a Mumbai special court was…
US Proposes $19 Bn Budget for NASA in 2017
Washington, Feb 10 (IANS) US President Barak Obama has proposed $19 billion for the US space agency in the fiscal 2017 budget – a little less that $19.3 billion NASA received for the fiscal 2016….
Modi Government Approach Banks for Funding Swachh Bharat Mission
New Delhi, Feb 9 (IANS) The Narendra Modi government is now looking at the private sector to aide its Swachh Bharat Mission and provide financial assistance for building toilets for poor families, union Rural Development…
Carbon and Sugar Tax Can Have Environmental, Health Benefits
London, Feb 3 (IANS) A combination of a carbon tax on food and sugary drinks could lead to health benefits, reduce greenhouse gas emissions and raise up to £3.6 billion in revenue, says a research….
India’s Central Bank Keeps Key Lending Rates on Hold
Mumbai, Feb 2 (IANS) Ahead of the federal budget for the next fiscal, India’s central bank on Tuesday kept its key lending rates unchanged in line with stakeholders expectations. The Reserve Bank of India (RBI)…
Bank of Japan to Introduce Negative Interest Rate
(150619) — TOKYO, June 19, 2015 (Xinhua) — Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a press conference at its headquarters in Tokyo, capital of Japan, June 19, 2015. (Xinhua/Stringer) Tokyo, Jan 30 (IANS)…
Mukesh Ambani, Premji, Shanghvi Among World’s Richest Billionaires
Bengaluru, Jan 28 (IANS) India’s richest business mogul Mukesh Ambani of Reliance Industries, Indian IT czar Azim Premji of Wipro and drug maker Dilip Shanghvi of Sun Pharma rank among world’s top 50 wealthiest billionaires….
IMF Implements Long Due Quota Reforms
Washington, Jan 28 (PTI) The IMF has announced the implementation of its long due quota reforms which was approved by the US Congress last year that will give more voting rights to emerging economies like…
US Stocks Tumble After Fed Statement
New York, Jan 28 (IANS) US stocks ended sharply lower on Wednesday, as Wall Street digested the newly-released Federal Reserve’s statement amid downbeat quarterly earnings reports. The Dow dropped 1.38 percent, and the S&P 500…
More Than 900 Kgs Of Gold Mobilised Under Monetisation Scheme
New Delhi, Jan 23 (IANS) The central government has mobilised more than 900 kgs of gold under its gold monetization scheme, a senior official said on Saturday. “Gold Monetisation Scheme: More than 900 kgs gold…
Reforms Moving in Right Direction but Inadequate: RBI Governor
Davos, Jan 22 (IANS) Describing the current level of economic reforms in India moving in the right direction but inadequate, Reserve Bank of India Governor Raghuram Rajan has said that business in the country needs…
RBI to Buy Government Securities Of Rs.10,000 Crore
Mumbai, Jan 19 (IANS) In a bid to infuse liquidity into markets, the Reserve Bank of India (RBI) will purchase government securities worth a total Rs.10,000 crore on Wednesday. “Based on the current assessment of…
Islamic State Faces Fund Crunch, Cuts Fighters’ Wages
Raqqa, Jan 19 (IANS/AKI) Islamic State has cut its fighters’ salaries by 50 percent in Syria as air strikes continue to target oil fields, supply lines and cash stores, affecting its revenue streams, The Independent…
Chinese Yuan Weakens
Beijing, Jan 19 (IANS) The central parity rate of the Chinese currency, or the yuan, weakened by 6 basis points to 6.5596 against the US dollar on Tuesday, according to the China Foreign Exchange Trading…
62 People Have Same Wealth As 3.5 Billion
By Chaitanya Mallapur Just 62 individuals had the same wealth as 3.5 billion people the bottom half of humanityin 2015, according to a new report, An Economy For The 1%, by global advocacy Oxfam….
RBI Should Let Rupee Slide to Help Exports: Assocham
New Delhi, Jan 17 (IANS) India should allow the rupee to depreciate to help exports remain competitive, while the RBI should use its ample forex reserves to defend the currency only in a rout situation,…
In a Global First, World Bank Embraces Zoo in India!
New Delhi, Jan 17 (PTI) The World Bank usually tames wild economies and helps countries stabilise their fluctuating finances, but in a global first, the banker for the world has gone to a zoo that…
World Bank to Help Bihar in Computer Literacy
Patna, Jan 16 (IANS) The World Bank may help Bihar in imparting computer education and communication skills to millions of youths, state officials said on Saturday. “World Bank country director Onno Ruhl during his meeting…