Economy News

RBI Orders Tighter Compliance on Suspicion of $3.2bn Iran Export Scam

The central bank asked Indian banks to tighten compliance and asked them to be more vigilant on suspected money laundering cases.

Feb 10, 2015

RBI Deputy Governor Directs Lenders to Improve Asset Quality

Reserve Bank of India's Deputy Governor R Gandhi reiterated the central bank's stand on the need for lenders to improve asset quality.

Feb 9, 2015

Budget 2015: Govt Mulling Incentives to Individuals, Companies to Boost Savings, Investments

The corporation tax rate is 30 per cent and has remained unchanged for the last seven years

Feb 9, 2015

No Proposal to Hike Rail Fares at Present: MoS for Railways Manoj Sinha

Railway's Sinha said that there are no proposals currently being considered to hike rail fare. He insisted that details would be out only when the Railway Budget is presented in the Parliament.

Feb 7, 2015

Foodpanda Acquires JustEat India, to Cover More Than 200 Cities

The online food ordering service is now in direct competition with Zomato.

Feb 7, 2015

Budget 2015: Modi Chairs Maiden NITI Aayog Meeting, Discusses Economic Policy Formulation with Noted Economists

The maiden NITI Aayog meeting saw discussions between the PM and economists on attracting investment, boosting domestic savings and the condition of agricultural sector and financing infrastructure.

Feb 7, 2015

Defence Production Reforms Will be Ready Soon, Says Parrikar

He says 'proper' laws should be framed for defence projects

Feb 6, 2015

Global Bodies Lined up for Funding Infrastructure Development: Arun Jaitley

Arun Jaitley told industrialists that the expected infra boom would witness a combination of funding, which would see significant participation from international bodies.

Feb 6, 2015

'Make in India' Scheme: Huawei Invests $170 mn in R&D Facility in Bangalore

Huawei has opened its largest R&D center in Bangalore, which is expected to seat 5,000 employees.

Feb 6, 2015

Budget 2015: RBI Governor Raghuram Rajan Favours Higher Tax Exemption Limit On Financial Investments

A rise in the limit will improve savings rate

Feb 5, 2015

₹80,000 Cr of Unspent Funds at Jaitley's Disposal to Help Limit Fiscal Deficit to 4.1%

The finance minister is expected to use the amount unspent by government agencies to help cover the budget deficit.

Feb 4, 2015

AirAsia India Planning To Launch Red-Eye Flights; Fares May Go Down

AirAsia India is planning to launch red-eye flights.

Feb 4, 2015

World's Top Sovereign Wealth Funds Listen to Modi's Reform Plans

He was addressing 20 top global investors who manage assets worth about $11 trillion globally

Feb 4, 2015

Modi Gets Cracking on State-Owned Institutions to Spend $19bn Cash Hoard

The Modi government has gone after state-owned entities, sitting on piles of cash, to deploy the asset into capital expenditure and to increase overseas investments.

Feb 3, 2015

RBI Holds Rate; Says Tracking Govt Fiscal Consolidation and Inflation

The RBI has decided to hold rates steady, at least until the Fiscal Budget to be presented on Feb 28. Instead, it decided to lop off 50 basis points on SLR, which frees us additional funds for banks to increase lending.

Feb 3, 2015