Business news

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RBI Hikes Repo Rate by 25 bps; Lowers MSF

The Reserve Bank of India on Tuesday hiked its repo rate by 0.25 percent to 7.75 percent. This is the second time the central bank raised its interest rates in the past two months. Oct 29, 2013
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6 New Cars Releasing This Festive Season: Nissan Terrano, New Range Rover Sport, Skoda Octavia and More

Indian auto market may be going through a lull period with most car manufacturers witnessing a slowdown in sales but October will see as many as six new cars hitting Indian roads, as car makers are optimistic that this festive season to boost their business. New cars like Nissan Terrano, New Range Rover Sport, Skoda Octavia, Volkswagen Vento GT TSI, BMW 5-series facelift and Toyota Innova facelift are expected to hit the roads this month. Oct 4, 2013
a-woman-poses-with-a-nokia-lumia-smartphone-in-this-photo-illustration-in-the-central-bosnian-town-of-zenica-may-6-2013

Nokia in Tax Dispute with Indian Authorities

Finnish mobile handset manufacturer Nokia is in a dispute with the Indian tax authorities over a tax bill of Rs.2080 crore. The Finance Ministry's income tax department claims that Nokia has evaded taxes on software downloaded on the mobile handsets manufactured in Nokia's Sriperumbudur facility. Nokia has denied these claims. Oct 1, 2013
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Ford India Recalls 1.66 Lakh Units of Figo, Classic

The Indian subsidiary of American auto major Ford Motor Company said it will recall 1,66,021 units of its best-selling compact cars - Figo and Classic, to fix the technical glitches in the rear twist beam (RTB) and power-assisted steering (PAS) hose. Sep 15, 2013
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