Strategists in Modi's BJP, confident that his jobs-first policy pitch will secure a strong voter mandate, suggest that they would prefer to have one of their own at the helm of the RBI.
The benchmark BSE Sensex dropped by another 102 points in morning trade on Friday on selling pressure from operators mainly in refinery, capital goods and banking sectors, tracking lower Asian cues.
Gold edged lower on Friday as the market nervously awaited US nonfarm payrolls data, heading for its longest weekly losing streak in over six months as equities firmed and optimism grew about the US economy.
The rupee on Friday gained eight paise toclose at 60.08 against the dollar on fresh selling of the US currency by exporters and some banks notwithstanding weakness in local equities and firm greenback overseas.
The chief of Firefox browser maker Mozilla is stepping down in the face of controversy stirred by his support of a California bill to ban gay marriage.
Norwegian telecom operator Telenor on Friday said it has been allowed to offset Rs.
1,660 crore against payment due for spectrum bought in November 2012.
India’s services sector shrank faster in March compared to the previous month, raising worries about an early revival of the economy battling to claw out of a decade-low slowdown, the results of a latest monthly survey showed.
The CAG has issued a final warning to the DoT, asking it to reply within 10 days for failing to explain lapses in how it charged telecom firms for usage of spectrum and the way it handed out concessions.
It's bonanza time for airtravellers, with Air India, IndiGo and GoAir today joining the latest war over airfares, launched by SpiceJet which had earned the wrath of DGCA for offering one rupee air fares two days ago.
Markets retreated from all-time high levels on Thursday, with BSE benchmark Sensex closing over 42 points lower to register the first fall in seven days on profit-booking in banking, refinery and capital goods shares.
The rupee on Thursday dropped 26 paise to close at 60.16 against the dollar on fresh dollar demand from banks and importers in view of the US currency gaining in overseas markets and weakness in local equities.
Shares in IDFC Ltd surged as much as 8.8% on Thursday after the Reserve Bank of India (RBI) granted a preliminary bank licence to the infrastructure sector lender, one of the two firms to get the approval.
The rupee's recent rally is set to reverse course later this year as upbeat sentiment ahead of a general election wears off and economic growth remains slow, a Reuters poll found.
External factors have generally been much less important compared with internal factors for relatively large or closed economies such as China, India and Indonesia," the IMF said in its World Economic Outlook (WEO).
Banking, money transfer, shopping — online and offline, bill payment, paying for movie tickets --- name it, and there is a mobile payment gateway for it. Here's what is this mobile money all about.