Economy News

RBI Eases KYC Norms to Avail Bank Accounts

Reserve Bank of India in a press release stated that the KYC norms have been made simpler, and now anyone can open a bank account with just one address proof - either permanent or local.

Jun 13, 2014

Rupee Opens 5 Paise Weak Followed by Dollar's Demand in Asia-Pacific

INR depreciated by 5 paise at early trade on Friday at 59.30 per dollar against aforesaid closing value of 59.25 a dollar.

Jun 13, 2014

Climate Change: After WB, ADB Approves Aid to Coastal States

Last month, Global Environment Facility (GEF) agreed to finance an ongoing million dollar project for Coastal protection, under the administration of Asian Development Bank.

Jun 12, 2014

Rupee Slips 9 Paise Against Dollar in Early Trade

The Rupee declined by 9 paise at early trade on Thursday at 59.36 a dollar against previous day's closing value of 59.27 per dollar at Interbank Foreign Exchange market.

Jun 12, 2014

Rolls-Royce 'Disappointed' as Emirates Cancels Orders for 70 Airbus A350 Aircraft

Emirates Airlines has cancelled an order for Airbus's 70 A350 aircraft, UK aero-engine maker Rolls-Royce has revealed.

Jun 11, 2014

Rupee Falls Flat due to Forthcoming CPI and IIP Release

Rupee declined at early trade on Wednesday at 59.32 per dollar against previous day's closing value of 59.29 a dollar. The fall can be attributed to increased demand for American currency at Interbank Foreign Exchange market and absence of major inflows.

Jun 11, 2014

India's Economic Growth Forecast: World Bank Projects 6.6% Growth for World's Largest Democracy by 2017

The World Bank has forecast India's economic growth at 5.5 percent in the fiscal year 2014-15, accelerating to 6.3 percent in 2015-16 and 6.6 percent in 2016-17, even as it projects a year of disappointing growth for developing countries.

Jun 11, 2014

Rupee Falls Flat by 10 Paise, Higher Inflows Resisted the Fall

Rupee depreciated by 10 paise at early trade on Tuesday at 59.24 a dollar against Monday's closing value of 59.20, due to increased demand for the US currency from importers.

Jun 10, 2014

Indian Rupee Gains 10 Paise, Worst Performing Yuan Expected to Surge by June End

Rupee VS Dollar: Rupee gained 10 paise at early trade on Monday at 59.08 a dollar against Friday's closing value of 59.18 per dollar.

Jun 9, 2014

Finance Minister to Meet Merchant Bankers Today in Mumbai

To envisage the outline of Fiscal year 2015, Finance Minister Arun Jaitley will meet merchant bankers in Mumbai on 7 June, Saturday.

Jun 7, 2014

FDI in Health Insurance Set to be Hiked to Health Insurance

The finance ministry is considering increasing the Foreign Direct Investment (FDI) in the insurance sector to 49 percent.

Jun 6, 2014

Rupee Touches 59.26 as Demand for Dollar Remains High

Rupee gained in the early trade on Thursday by seven paise as it opened at 59.26 per dollar, compared to previous day's closing value of 59.33-a-dollar.

Jun 5, 2014

Bollywood Films to Help India Meet its Trade Deficit with China; 'Dhoom 3' to Release as Part of Plan

India's trade deficit with China in the year 2013-14 is understood to be $35 billion, and to reduce the trade gap, the Indian commerce ministry will seek help from Bollywood films.

Jun 5, 2014

Rupee Slips in Early Wednesday Trade; Investors Place Hopes on Modi

The Indian rupee slipped in the early trade on Wednesday as it opened lower by 4 paise at 59.42 per dollar as against Tuesday's closing value of 59.38.

Jun 4, 2014

Rupee Remains Relatively Stable on Monday Morning; L&T Drives Market Up

The Indian rupee opened at 59.12 against the US dollar in early trade, as of 11:45 am on Monday.

Jun 2, 2014