Finance

IT Exports to Expand by 12-14% in FY15: Nasscom

Nasscom expects the Indian IT sector to clock 12-14% growth in the upcoming fiscal year, on the back of strong economic fundamentals of Western nations.

Feb 10, 2015

A Railway Worker inspecting tanker wagons

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

HSBC Admits Swiss Banking Arm Held Accounts For Tax Evaders

"We acknowledge and are accountable for past compliance and control failures," the bank said

Feb 9, 2015

The Plaza, New York, partly owned by the Sahara Group

Mirach Capital Values Sahara's Overseas Hotels at $1.67 bn, Below Market Value

Its offer is seen as crucial to Sahara's efforts to raise funds to secure Subrata Roy's release from jail

Feb 9, 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

Banks Seek EOW Probe into ₹15,000 crore Fake Remittances Scam

The Mumbai customs department wrote to the banks that the documents submitted by the importers were fictitious

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

Sahara India's Troubles Multiply: Enforcement Directorate Files ₹3,600 Cr FEMA Charges over Luxury Hotel Investment

Sahara India suffered another setback, with the Enforcement Directorate issuing a show cause notice to the group, concerning FEMA violations in the purchase of London-based Grosnover House luxury hotel.

Feb 7, 2015

Sahara: Forged Letter Spoils Efforts to Secure Subrata Roy's Release

Bank of America denied issuing any letter to Mirach Capital Group

Feb 6, 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

HAL to Supply 14 Dornier Do-228 Aircraft to IAF in a Deal Worth ₹1,090 Crore

HAL will manufacture 14 Dornier Do-228 aircraft, will be better equipped to build more advanced aircraft when the Indian Air Force decides to place order for new generation multi-role aircraft

Feb 6, 2015