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HindustanTimes Fri,28 Nov 2014

Business

Telcos, supermarket chains, bigbiz can start payments banks

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.

Part of pension money may have to be invested in robust infra funds

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.

Banking correspondents to take‘Swachh Bharat’ to hinterland

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.

Ikea to double merchandise sourcing from India by 2020

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.

Nippon to up Reliance MF stake to 49%; Rs. 657 cr for first 9%

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%.

RBI sets up mkt intel units to fight ponzis

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.

E-governance in 2.5 lakh villages by March 2016

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.

Alibaba’s Jack Ma keen to invest in India, eyes small businesses

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.

AG against challenging HC verdict on Vodafone

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.

Nippon to hike stake in Reliance Capital AMC to 49%

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.

Rupee inches higher; month-end dollar demand offsets inflows

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.

Sensex recovers as ITC, HDFC rise; realty shares in limelight

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.

China's Alibaba to invest more in India

Chinese e-commerce giant Alibaba's founder and executive chairman Jack Ma Wednesday said he wanted to invest more in India.

Twitter to boost online voting and video with new tools

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.

Offshore black money: ED for seizing domestic equivalent

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.
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