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HindustanTimes Fri,22 Aug 2014

Business

RBI surplus falls 14.75% in FY14; transfers entire sum to govt

The Reserve Bank on Thursday said its surplus (profit) for the FY'14 fiscal declined 14.75% to Rs. 52,679 crore as its interest income from investments in foreign sovereign bonds declined during the year even as its investments increased.

Policy moves key to 5.5% growth in 2014-15: RBI

Greater political stability, commitment to fiscal consolidation, strengthening of the monetary policy framework and supportive implementation of policy measures have raised prospects of a turnaround in the economy, the Reserve Bank India said in its latest report.

Indian economy to grow 5.8% in 2014/15: Finance secretary Mayaram

India's economy is on course to grow by around 5.8% in the fiscal year to March 2015, the finance ministry's top official said on Thursday, expressing confidence that 'green shoots' of recovery were taking hold.

Wipro opens new centre in US for global customer care

IT services major Wipro on Thursday said it has launched a global Customer Experience Centre (CEC) at its Mountain View office in California.

Indian firms tool up for defence orders on Modi's 'Buy India' pledge

Some of India's biggest companies are pouring billions of dollars into manufacturing guns, ships and tanks for the country's military, buoyed by the new government's commitment to upgrade its armed forces using domestic factories.

Bill for defunct SIM: Reliance to pay Rs. 25,000

Reliance Communications Ltd has been asked by a consumer forum here to give a compensation of Rs. 25,000 to a man for issuing a mobile bill for a non-functional SIM.

Rupee snaps three-day gains on broad dollar rally post Fed minutes

The rupee declined by 13 paise to 60.74 against the US dollar in early trade on Thursday due to appreciation of the American unit against other currencies overseas.

Sensex rebounds 46 points as banking, consumer durables stocks rise

The benchmark Sensex on recovered about 46 points to end near record highs powered by gains in bluechips, led by banking, consumer durables and auto stocks, on buying by foreign funds and a drop in global oil prices.

RBI issues guidelines for NBFCs on lending against shares

With an aim to curb volatility in capital market, the Reserve Bank on Thursday asked NBFCs to maintain a loan-to-value (LTV) ratio of 50% in case of lending against collateral of shares.

Singapore's Changi out of race for GVK airports stake: Official

Singapore's Changi Airports International is now out of the race to pick up stake in GVK's airports business due to regulatory issues.

Oil ministry wants revenue sharing for future oil contracts

Seeking to revive interest in oil and gas exploration by simplifying rules, the oil ministry is looking at replacing the controversial Production Sharing Contracts with simpler revenue-sharing regime.

5 Indian firms among Forbes' most innovative companies

Five Indian companies, including Hindustan Unilever and Tata Consultancy Services, are among Forbes' list of the world's 100 most innovative companies that investors think are most likely to 'generate big, new growth ideas'.

Activa pips Splendor to July best-seller spot

With automatic scooters getting back in vogue, scooter market leader Honda Activa surged ahead of long time market leader Hero Splendor to emerge as the largest selling two-wheeler in the country in July 2014.

Giant set to bring Rs10.6-lakh cycle to India

Top bike maker Giant is set to bring the world’s fastest bicycle, Propel Advanced SL 0, to India at a sticker price that will put a Harley Davidson to shame — Rs10.6 lakh.

NTPC set to quit hydel power, NHPC thermal

India’s largest thermal power company, NTPC Ltd, is exiting its non-core assets comprising of 1,611 mega watt (MW) of hydel power projects to public sector units including National Hydroelectric Power Corp (NHPC) and others that possess core competence of executing hydro power projects.
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