Inaccessibility to automated teller machines (ATM), especially in remote areas, could soon be a thing of the past thanks to an initiative by the Reserve Bank of India (RBI). This initiative would allow non-bank institutions to own and operate ATM across India. These ATMs, commonly known as White Label ATMs (WLA) in developed countries, are […]
Mumbai: The market started to run fast on the last day of the week. The Indian benchmarks BSE Sensex and NSE Nifty scored the seventh weekly gain due to the foreign funds flow. On Friday, BSE & NSE gained the highest wave in the whole week. The NSE reached up to 0.77% on Friday, and […]
Before the budget, some of the Ministers of Parliament’s group scrutinized the Direct Taxes Code (DTC) Bill today praised for raising the income tax release limit up to Rs. 5 lakhs per annum. The Standing Committee of Finance, met under the Chairmanship of BJP leader, Yashwant Sinha, has decided to settle this report by March […]
According to the research done by a team, that railway needs to increase their safety provisions and for that they need about Rs. 1 lakh crore. That’s why the train fares may hike. But right now the Railways Minister, Dinesh Trivedi and his team of advisors are scrutinizing the whole recommendation committee’s plan. Indian Railways […]
Drug-maker GlaxoSmithKline Pharmaceuticals sees profits improve, due to continued growth of vaccines and specialty products, tighter expense control and new product launches for the 4th quarter of 2011. According to DrHasit B. Joshipura, Managing Director of GSK (India), the company was able to register good growth in its specialty business, thanks to the launch of […]
In a bid to gain a foothold in the male grooming and youth brand segment, Marico has acquired erstwhile Paras personal care brands from Reckitt Benckiser. This transaction is Marico’s second largest acquisition in India, after the acquisition of the Nihar brand from Unilever, a few years back. Marico has also made six brand acquisitions […]
The Department of Economic Affairs (DEA) asked the Revenue Department to decide about the increasing import duty on power equipments by keeping in mind the recent demands applied by the domestic power equipment manufacturers. It has been proposed to increase the duty by 10-12% in the upcoming budget 2012 – 2013, but the domestic strong […]
Reliance Communications Ltd. received the permission from the Reserve Bank of India for the refinancing from Industrial and Commercial Bank of China Ltd (ICBC) and Export Import Bank of China (EXIM) for deliverance of its outstanding FCCBs (Foreign Currency Convertible Bonds). The terrific FCCBs of US$ 1,182 million (approximately Rs. 5,825 crore at the prevailing […]
