RBI to lower ceiling on bank loans to a single corporate group
Published on Friday, August 22, 2014 3:11 PM
MUMBAI - The Reserve Bank of India (RBI) plans to impose stricter limits on how much a bank can lend to a single corporate group, a move aimed at curbing risk in the banking sector at a time when bad loans are on the rise. ...
Currently, banks are allowed to lend up to 40 percent of their core capital to a single
Indians keep their faith with Modi, best hope for economy - poll
Published on Friday, August 22, 2014 2:38 PM
NEW DELHI - More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. ...
The 'Mood of the Nation Poll' by India Today-Hansa Res
Water reservoirs at 65 pct of capacity in past week
Published on Friday, August 22, 2014 1:54 PM
NEW DELHI - Water levels in India's main reservoirs in the week to Aug. 21 were at 65 percent of capacity, down 12 percentage points from a year earlier, government data showed on Friday. ...
However, the latest weekly level is higher than 63 percent recorded for the previous week.
India to hike iron ore royalty, miners may struggle to pass on extra cost
Published on Friday, August 22, 2014 2:11 PM
SINGAPORE/NEW DELHI - The cabinet has agreed to raise the royalty rates for iron ore and other minerals, a mining ministry official said, raising the cost for domestic miners, and potentially making imported ore more attractive. ...
There is a danger for miners that they will be unable to pass on the cost f
Government raises sugar import duty to 25 percent from 15 percent
Published on Friday, August 22, 2014 1:56 PM
NEW DELHI/MUMBAI - India, the world's biggest sugar consumer, raised the import duty on the sweetener to 25 percent from 15 percent as part of efforts to help regional mills struggling with lower prices and higher stocks. ...
A rise in the duty will make imports unviable for port-based refiners despite
RBI to conduct frequent term repos for flexible cash management
Published on Friday, August 22, 2014 2:24 PM
By Neha Dasgupta and Suvashree Choudhury ...
MUMBAI - The Reserve Bank of India (RBI) said it would conduct more frequent term repos but retained the overall borrowing limit for lenders, in a bid to make borrowing more flexible without injecting additional liquidity into markets.
United Spirits falls; excluded from derivatives trading
Published on Friday, August 22, 2014 11:25 AM
Market Eye - United Spirits falls 3.2 percent after NSE excludes the stock from the derivatives segment. ...
NSE says company has not submitted financial results for the year ended March 31, 2014 and quarter ended June 30, 2014.
Zee Entertainment will replace United Spirits in the NSE
Arvind Subramanian likely to be chief economic adviser
Published on Friday, August 22, 2014 12:48 PM
By Manoj Kumar and Rajesh Kumar Singh ...
NEW DELHI - U.S.-based economist Arvind Subramanian is poised to be named as chief economic adviser to Prime Minister Narendra Modi's government, two sources at the finance ministry said on Friday.
If confirmed, the appointment would bring a second ec
LIC ties up with five insurance repositories: Media Report
Published on Friday, August 22, 2014 10:34 AM
Life Insurance Corporation (LIC), India's largest life insurer, has tied up with all the five insurance repositories to enable its policyholders to manage their policies through a single account, reported PTI.
People having more than one insurance policy in the life segment with LIC can have one single account with which they c ...