The Reserve bank of India on Thursday defined fresh rules that will allow a host of new businesses such as mobile phone companies, super-market chains and pre-payment card issuers to set up specialised banks offering limited financial services.
In a move that could boost the fund-starved infrastructure sector, the government is examining the possibility of making it mandatory for a portion of pension or retirement monies accumulated under the pension regulatory body to be invested in infrastructure projects with AA ratings.
The government is set to use the services of over 250,000 banking correspondents of public sector banks to spread the message of the ‘Swachh Bharat’ campaign, kickstarted by Prime Minister Narendra Modi, in the hinterland.
Seeking to take benefits from ‘Make in India’ campaign, furniture giant IKEA is all set to have fresh tie-ups with small and medium enterprises, to help the company double the merchandise it sources in India by 2020.
Japanese financial services giant Nippon will hike its stake in India's top fund house Reliance Mutual Fund from 26% to 49%, while investing Rs. 657 crore for the first tranche of 9%.
In a move geared to combat shadow banking through increased vigilance and intelligence gathering, the Reserve Bank of India in a recent organisational revamp, has set up market intelligence units across 16 out of 19 regional offices across the country.
Governance services offered over digital platforms will become operational across 250,000 gram panchayats (village councils) by March 2016 as the National Optical Fibre Network project is slated to be completed by then.
China’s richest person and founder of e-commerce giant Alibaba, Jack Ma, said on Wednesday that he is keen to invest more in India and help technology entrepreneurs here.
Attorney General Mukul Rohatgi has advised the government against challenging the Bombay HC verdict that Vodafone is not liable to pay an income tax demand of Rs.
3,200 crore in a case relating to transfer pricing.
Japan’s Nippon Life Insurance will increase its stake in Reliance Capital Asset Management Co to 49% from its existing 26% in two or more tranches, the Anil Ambani Group company said on Wednesday.
The rupee closed marginally stronger on Wednesday after being held in a tight range as dollar inflows into the domestic share markets were offset by demand for the greenback from importers looking to meet month-end commitments.
The benchmark Sensex on Wednesday recovered by 48 points to end at 28,386.19 on smart rise in bluechips, including ITC and HDFC, coupled with a spurt in realty shares, led by DLF, after government hiked floor area ratio in Delhi.
Chinese e-commerce giant Alibaba's founder and executive chairman Jack Ma Wednesday said he wanted to invest more in India.
Microblogging service Twitter, which has emerged as the prime internet platform for politicians, policymakers and journalists across the world to break, share and discuss news and build public opinion, is ready with new innovations that will help instant polls and easy reading of linked content.
Indians suspected of holding illegal assets abroad could have property or other possessions of equivalent value seized at home. This is one among many measures proposed to stamp out black money.