‘Don’t write my obituaries, I’m not done yet’: Raghuram Rajan still the boss of RBI

‘Don’t write my obituaries, I’m not done yet’: Raghuram Rajan still the boss of RBI

Thursday, June 23rd, 2016 | Posted in Business News | by

Outgoing Reserve Bank of India (RBI) Governor Raghuram Rajan address the press on Wednesday. Rebutting his critics, Rajan said that the decision of not easing the lending rates was ‘well thought out’ and intended to control the inflation. Not only did he defended his rate regime, but also took a veiled jibe at economic commentators […]

Flipkart: Products on online shopping site to cost more by 15 to 20 per cent

Flipkart: Products on online shopping site to cost more by 15 to 20 per cent

Wednesday, June 22nd, 2016 | Posted in Business Featured News | by

Online shopping enthusiasts may get a slight burner from today with Flipkart planning to make a number of products 15 to 20 per cent costlier compared to its rival sites, Snapdeal, Amazon and Paytm. The sudden price hike is a part of #Online Dharna in which eSeller Suraksha, which is a platform for merchants selling […]

Government relaxes FDI norms in civil aviation, defence, pharma

Government relaxes FDI norms in civil aviation, defence, pharma

Monday, June 20th, 2016 | Posted in Breaking News Business News | by

Other sectors in which FDI norms have been relaxed include e-commerce in food products, broadcasting carriage services, private security agencies and animal husbandry. “Now most of the sectors would be under automatic approval route, except a small negative list. With these changes, India is now the most open economy in the world for FDI,” said […]

Raghuram Rajan exit affects Indian stock market, Rupee slumps 60 paise, Sensex falls 180 points

Raghuram Rajan exit affects Indian stock market, Rupee slumps 60 paise, Sensex falls 180 points

Monday, June 20th, 2016 | Posted in Business Featured | by

Raghuram Rajan exit affects Indian stock market, Rupee slumps 60 paise, Sensex falls 180 pointsThe Dalal Street reacted negatively to reports of Reserve Bank of India (RBI) Governor Raghuram Rajan’s exit with market opening in red. The Indian markets this Monday morning faced the burnt of Rajan’s exit as he won’t be serving as the […]

Raghuram Rajan says no to second term; Industry terms it nation's loss

Raghuram Rajan says no to second term; Industry terms it nation’s loss

Sunday, June 19th, 2016 | Posted in Breaking News Business Featured | by

Ruing that his work on containing inflation and cleaning up books of the banks was “yet to be completed”, Rajan said, “While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term […]

Salary hike of government employees could be more than recommendation by Pay Commission

Salary hike of government employees could be more than recommendation by Pay Commission

Friday, June 17th, 2016 | Posted in Business | by

After mulling over Pay Commission’s recommendations, the government found that the staffers need more hike than recommended cap. If Finance Ministry does not face any complexity in making funds available, the minimum proposed hike of 2.57 percent could be increased to 2.9 percent. Media reports suggest that the 7th Pay Commission could get in force […]

Arun Jaitley, State Finance Ministers attend GST meet in Kolkata

Arun Jaitley, State Finance Ministers attend GST meet in Kolkata

Tuesday, June 14th, 2016 | Posted in Business News | by

Twenty-two states are represented at the meeting, which began in the morning, by their finance ministers. West Bengal Finance Minister Amit Mitra is chairing the closed-door meeting, said a state government official. Discussions on the draft Goods and Services Tax Bill, including the overall framework, and the Information Technology process of the GST are on […]

Internet censorship! 240 escort service websites to be blocked

Internet censorship! 240 escort service websites to be blocked

Tuesday, June 14th, 2016 | Posted in Business News | by

In order to clean internet from obscene contents, the communications and IT ministry on Monday ordered the Internet Service Providers (ISP) to block 240 websites allegedly offering escort services. The government has asked the ISP to block the access to these websites or face action under the Information Technology Rules, 2009. The notable websites that […]

No legal basis for Enforcement Directorate action: Vijay Mallya

No legal basis for Enforcement Directorate action: Vijay Mallya

Monday, June 13th, 2016 | Posted in Business News | by

Reacting to the ED action, Mallya said “The assets purportedly attached under PMLA (Prevention of Money Laundering Act) date back to several years prior to the launch of Kingfisher Airlines. There is no rationale nor any legal basis for the series of actions initiated by the ED which is now making it more difficult to […]

India, US to expand eco cooperation, break down trade barriers

India, US to expand eco cooperation, break down trade barriers

Thursday, June 9th, 2016 | Posted in Business | by

The leaders of the two countries resolved to pursue US-India Totalisation Agreement and enhance engagement on intellectual property rights with a view to promote innovation and creativity. “In order to substantially increase bilateral trade, they (leaders) pledged to explore new opportunities to break down barriers to the movement of goods and services, and support deeper […]

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