Financial News India: Read all the latest finance news on credit card, online payment, bank loan interest rate, scams, GDP growth Inflation, Saving schemes, PPF, NSC, KVP Bank, FD calculators ULIP IIP numbers
Finance : Explore yoga fitness market trends, retention strategies, and tech innovations. Uncover insights on customer loyalty, VR classes, ...
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Finance : Explore the International Financial Services Centres Authority (IFSCA) Regulations 2024, governing payment and settlement systems ...
The International Cricket Council (ICC) tonight lifted the ban on news television channels covering the world cup finals following intervention by Information & Broadcasting Ministry, but will seek legal action against them for alleged violation of media guidelines. “The ICC has decided to commence legal action against the companies involved and will also seek to recover damages through the courts in India rather than bar the stations from the ICC Cricket World Cup final,” cricket’s global governing body said in a statement.
The Interpol’s General Secretariat Headquarters based at Lyon (France) has issued a clarification on an article “Interpol on the hunt for two Maldivians involved in planning Cricket World Cup Attack” published in the newspaper “Haveeru” on 26th March, 2011 in the Maldives which contains serious inaccuracies. The Interpol denied this news and required a correction from the newspaper.
State Bank of India (SBI) on Thursday extended its controversial special interest rate home loan product (teaser loans) till further notice. The product, which has faced flak from the sector regulator Reserve Bank, will continue to be sold till further notice from the lender, a highly-placed bank official said. The apex bank feels that teaser loans attract new customers with low interest rates, but existing customers who have to pay more are disadvantaged vis-a-vis the new ones.
Investors had lost around Rs 250 crore after their money was invested by Citibank fraudster Shivraj Puri in Nifty options, said a police chargesheet filed in the Rs 400 crore scam. As per the chargesheet filed in the Civil Senior Division Court here on Tuesday, a sum of Rs 292.68 crore, fraudulently obtained from investors, was invested by Puri in Religare Security Ltd, Bonanza Portfolio Ltd and India Infoline Trader Terminal, out of which around Rs 250 crore were lost, Gurgaon Police Commissioner S S Deswal said.
An Indian businessman has been sentenced to prison in California on charges he fraudulently tried to get H-1B work visas for workers from India to fill non-existent jobs in the US. Srinivasa Chennupati has been sentenced to six months in prison and three years of supervised release for making false statements on 11 applications for the high-technology worker visas, the Department of Justice said in a statement.
EXPORTS (including re-exports) : Exports during February, 2011 were valued at US $ 23597 million (Rs. 107215 crore) which was 49.7 per cent higher in Dollar terms (46.9 per cent higher in Rupee terms) than the level of US $ 15758 million (Rs. 73002 crore) during February, 2010. Cumulative value of exports for the period April-February 2010 -11 was US $ 208229 million (Rs 949278 crore) as against US $ 158497 million (Rs. 753384 crore) registering a growth of 31.4 per cent in Dollar terms and 26.0 per cent in Rupee terms over the same period last year.
Country’s Population Reaches 1210 Million as Per Census 2011. Up Remains Most Populous State With 199 Million. Overall Sex Ratio Reaches 940 – 7 Points Increases Over 2001. Literacy Rate Goes up to 74.04 Percent from 64.83 Percent
Vodafone, the world’s largest mobile operator by revenue, is to pay $5 billion in cash to buy out Essar Group from their Indian joint venture and bring an end to their increasingly fractious relationship. Vodafone, which has faced a host of problems since entering the fiercely competitive market in 2007, will take over Essar’s 33 per cent of the Vodafone Essar Limited company, giving it direct ownership of 75 per cent of the Indian operator.
Capital inflows, international trade and private and public enterprise have helped contribute significantly to India’s growth since liberalisation. With the idea of understanding how corruption is impacting each of these pillars and eventually the economy at large, KPMG in India conducted this survey with certain leading Indian corporates in order to understand their perception of how corruption is corroding the economy as well as the corporate environment. Some of the key findings include: * 68% of survey respondents believe that India can achieve more than the projected 9% GDP growth if corruption is controlled
Central Excise- Changes in excise duty structure on textile goods . Branded ready-made garments which are returned to the factory and cleared there from after being re-made, re-conditioned, repacked are exempted from payment of excise duty subject to the following conditions: ─ CENVAT credit on the returned goods is not availed
