Economy News

Cabinet clears Bill to grant greater autonomy to ports

The Major Ports Authority Bill would help in faster and transparent decision making, which would benefit the stakeholders.

Dec 15, 2016

No extension in deadline: Rs 500 notes can't be used to pay utility bills after December 15 midnight

The old Rs 500 and Rs 1,000 notes can be submitted in bank branches where a person holds an account until December 31.

Dec 15, 2016

Don't trust your bankers: Three bank employees are sacked every two days, says CVC report

Between 2011 and 2015, as many as 3,100 bank employees were fired, according to data collected by the Central Vigilance Commission.

Dec 14, 2016

Demonetisation: Rs 12.44 lakh crore of demonetised notes of Rs 500 and Rs 1,000 returned to RBI

The deputy governors also reacted on the arrest of RBI official K Micheal for illegally converting Rs 1.51 crore of old notes.

Dec 14, 2016

US Ambassador to India Richard Verma says demonetisation does not impact Indo-US ties

The US Ambassador to India also said the US' relationship with India is much broader than that with Pakistan.

Dec 14, 2016

Railways to monetise unused land parcels, may get up to Rs 8,000 crore

The Railways has already identified 49 sites measuring 497.21 hectares for commercial development.

Dec 14, 2016

Bengaluru RBI officer arrested on Tuesday laundered money for 30% cut

Michael Kattukaran and his accomplices allegedly exchanged Rs 1.51 crore worth of demonetised notes for new currency.

Dec 14, 2016

Mukesh Ambani, Jeff Bezos, Jack Ma, Bill Gates collaborate for $1 billion energy fund

Breakthrough Energy Ventures fund will fight climate change through innovation in clean energy.

Dec 14, 2016

Demonetisation effect: Indian Railways staff want higher cash component in December salary

In a letter to the Railway Board, the NFIR says the cash component of salary for December be raised to mitigate shortage.

Dec 14, 2016

Demonetisation effect: Tenants in Bengaluru petition PM Modi seeking action against homeowners who demand cash as rent

Bengaluru has numerous colleges and is an IT hub where many students and employees from rest of India come and stay in rented accommodation.

Dec 14, 2016

Post demonetisation, use of old notes leads to jump in sales of drugs

Patients are said to be stocking up their medicines by exchanging old notes in pharmacies.

Dec 14, 2016

Is Congress trying to escape demonetisation debate by raising Kiren Rijiju issue in Parliament?

Rijiju has called the allegations baseless, and the power ministry has explained how he is not involved in the NEEPCO scam.

Dec 14, 2016

Delhi: Income Tax dept raids hotel in Karol Bagh, Rs 3.25 crore in old notes seized

So far, five people have been arrested in connection with the case.

Dec 14, 2016

PM Modi's demonetisation decision drags retail inflation to 2-year low in November

The drop in November retail inflation is largely due to fall in prices of food items after demonetisation of high-value currencies by PM Modi.

Dec 13, 2016

Black money after demonetisation: How RBI is using CCTV footage to monitor bank staff and customers

An ever-vigilant RBI is leaving no stone unturned to ensure that money launderers are caught.

Dec 13, 2016