Giving a boost to affordable housing, the RBI on Thursday eased the norms for home loans for up to Rs 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit.
China on rsday lowered its economic growth rate target to about seven% for this year after it registered 7.4% GDP, the lowest in 24 years, as the world's second largest economy continued to slowdown weighed down by dropping exports.
Pharma tycoon Dilip Shanghvi on Wednesday surpassed Mukesh Ambani as the world's richest Indian with a net worth of $21.5 billion, two days after the RIL chief was ranked India's wealthiest.
A fag-end recovery in key frontline heavyweights Thursday led to a positive close for Indian markets after a day's breather with the benchmark Sensex gaining 68.22 points to end at 29,448.95.
Fast-food giant McDonald's announced on Wednesday it would stop serving chicken raised with antibiotics that are important to human health, as worries grow over resistance to crucial drugs.
Snapping its four-day falling streak, the rupee today recovered by 5 paise to 62.20 against the US dollar in early trade at the Interbank Foreign Exchange market on back of selling of the American currency by exporters.
The Reserve Bank of India (RBI) cut its main lending rate — the repo rate — by 0.25 percentage points in a surprise announcement on Wednesday rekindling hopes of home loan rates falling below 10% for the first time in seven years. RBI governor Raghuram Rajan expects banks to cut lending rates by April.
Expect your EMIs to come down soon as banks indicated they would take a call on reducing lending rates within the next few days, soon after RBI sprung a surprise 25 basis points (bps) cut in the repo rate.
Anil Ambani-led Reliance Infrastructure Ltd on Wednesday announced the acquisition of Pipavav Defence and Offshore Engineering Company Ltd with management control for an estimated Rs 820 crore.
The day witnessed aggressive bidding by all eight companies to acquire airwaves in four bands, the premium 900 MHz band, 1,800 MHz and 800 MHz has been put on sale, besides 5 MHz in the 2,100 MHz band, across 17 out of 22 telecom areas in the country.
Banks hinted they could cut lending rates as early as next month, after a second interest rate cut in two months heaped pressure on lenders that have largely kept rates unchanged, citing weak credit demand and a lack of liquidity.
The Reserve Bank of India (RBI) lowered its policy repo rate by 25 basis points to 7.5% on Wednesday, delivering its second cut this year on the back of easing inflation and a government commitment to fiscal discipline.
Steel producer Usha Martin bagged Brinda and Sasai coal blocks in Jharkhand for Rs 1,804 per tonne, in the second round of auctions that began on Wednesday.
The Sensex on Wednesday made history by surpassing 30,000 level after RBI announced a surprise rate cut within days of the Budget but the benchmark wiped off all gains to end with a 213-point loss on heavy profit-booking.
In line with weak stocks, the rupee on Wednesday slipped by a hefty 33 paise -- its fourth straight daily loss -- to close at 62.25 against dollar amid RBI Governor Raghuram Rajan's comment that an "excessively strong rupee" is undesirable as it triggers disinflationary pressures.