Category archives for: Business

Deflating food prices softens India’s WPI inflation

New Delh: Deflating food prices softened India’s wholesale price-indexed (WPI) inflation to 2.47 per cent in March from 2.48 per cent reported for the previous month, official data showed on Monday. According to the Commerce Ministry data, the WPI inflation in March 2017 was more than double at 5.11 per cent. “The annual rate of […]

After India, Microsoft takes ‘Project Sangam’ to Middle East, Africa

New Delhi: In a bid to bridge the widening skill gap, Microsoft on Monday announced expansion of the capabilities of its Cloud-powered “Project Sangam” to the Middle East and Africa. Launched in India by Microsoft CEO Satya Nadella last year, “Project Sangam” is a Cloud-hosted platform that leverages Azure services and professional networking platform LinkedIn […]

RBI must ensure safety of proposed cryptocurrency: Assocham

New Delhi: Welcoming the RBI’s move to explore introduction of an official virtual currency in India, industry chamber Assocham on Sunday cautioned that extreme care be taken to ensure safety of the data trail that cryptocurrency transactions can leave behind. Placing a ban on all regulated entities, including banks, from dealing in virtual currencies like bitcoins, […]

Adani Ports expands Dhamra Port capacity to 100 mtpa

Bhubaneswar:  Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of the Adani Group, on Saturday inaugurated the Phase II expansion of Odisha’s Dhamra Port, increasing its cargo handling capacity from 25 million tonne per annum (MPTA) to over 100 mtpa. The inauguration ceremony took place in the presence of […]

Some PSU banks can be privatised, though time is not right now: SBI Chairman

New Delhi: The time is not right for privatisation of public sector banks (PSBs), though some of them could be divested by the government after making them financially attractive, according to a top banker. “The time, though, is not right at present, because these banks would need time to be strengthened and one has to […]

RBI bars regulated entities from dealing in cryptocurrencies

Mumbai: In a bid to protect consumers and curb evils like money laundering, the RBI on Thursday barred all regulated entities, including banks, from dealing in virtual currencies like bitcoins, following its earlier multiple warnings on their risks. Regulated entities already providing services to any individual or business dealing in digital currencies have been given […]

PNB fraud: CBI questions four RBI officialsPNB fraud: CBI questions four RBI officials

New Delhi: The CBI on Thursday questioned four Reserve Bank of India (RBI) officials in connection with Rs 13,500 crore Punjab National Bank (PNB) fraud involving diamantaire Nirav Modi and his uncle Mehul Choksi, an official said. Those questioned includes three Chief General Managers and one General Manager of the central bank. Sources said the […]

India’s Forex reserves rise by $1.19 bn

Mumbai: India’s foreign exchange (Forex) reserves increased by $1.19 billion as on March 23, official data showed on Friday. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the overall Forex reserves rose to $422.53 billion from $421.33 billion reported for the week ended March 16. India’s Forex reserves comprise of foreign currency […]

Feeling ‘a loan’: Vijay Mallya to marry third time? Twitter already can’t handle it

Mumbai: Vijay Mallya reportedly to get married to his long-time rumoured girlfriend Pinky Lalwani. The couple allegedly started dating in 2011 when Lalwani was hired as a flight attendant for Kingfisher Airlines. Lalwani has remained a support to Mallya in his tough times, reports suggest. She was also present with him during his extradition case […]

RBI fines ICICI Bank Rs 59 cr for securities’ sales violation

Mumbai: The Reserve Bank of India (RBI) said on Thursday it has imposed a penalty of Rs 58.9 crore on ICICI Bank for non-compliance of its directions on direct sale of securities. The bank clarified its position saying its held-to maturity (HTM) sales happened “due to a genuine misunderstanding on the timing of the applicability […]

Designed by Gabfire themes