UN downgrades India’s GDP forecast to 7.5% from 8.2%

New Delhi/Bangkok: The United Nations has downgraded its GDP growth forecast for India for 2016 to 7.5 per cent from 8.2 per cent estimated earlier, largely due to slow progress in implementing reform policies. In 2015, India is expected to see better growth compared to China, but the higher rate is due to a change […]

Sensex down 318 points to 19-month low

MUMBAI: The benchmark BSE Sensex plunged by 317.93 points today to hit a fresh 19-month low of 24,455.04 as muted earnings by some blue-chips and oil prices that fell below USD 30 a barrel combined to pull down the domestic equities for a second straight week. The broader NSE Nifty also broke below the 7,500-level […]

J&K SLBC holds meeting on IT-enabled Financial Inclusion in Jammu

J&K SLBC holds meeting on IT-enabled Financial Inclusion in Jammu

Srinagar: J&K State Level Bankers’ Committee (SLBC) convened a Steering Sub-Committee meeting to monitor IT-enabled Financial Inclusion, FLCCs, and Credit Plus Activities at Regional Office RBI in Jammu, J&K Bank said on Thursday. Regional director RBI D Sethy co-chaired the meeting with J&K Bank executive president (SLBC) S S Sehgal, it said in a statement […]

Govt to present Budget 2016 on Feb 29: Jayant Sinha

Govt to present Budget 2016 on Feb 29: Jayant Sinha

New Delhi: Minister of State for Finance Jayant Sinha said the government will present the Budget for 2016-17 on February 29, which will set a roadmap for the coming three years. “We are working hard on Budget that will be presented on February 29 and that will establish a roadmap for two or three years,” […]

Still in negative, wholesale inflation rises on costlier food items in Dec

Still in negative, wholesale inflation rises on costlier food items in Dec

NEW DELHI: Deflationary trend eased in December with WPI inflation moving up to (-)0.73 per cent as food articles, mainly vegetables, turned costlier. The Wholesale Price Index-based inflation has been rising for the last four months and was (-)1.99 per cent in November. In December 2014, it was (-)0.50 per cent. This is the 14th […]

SBI launches wealth management service for start-ups

SBI launches wealth management service for start-ups

New Delhi: State Bank of India launched its wealth management offering and inaugurated a dedicated branch for start-ups at Bengaluru on Thursday. While the wealth management service ‘Exclusif’ is targeted at the fast-growing affluent segment in the country, ‘SBI InCube’ -the branch for start-ups – would offer advisory services to the budding entrepreneurs under one […]

Aadhaar ID saving Indian govt about $1 billion per annum: World Bank

Aadhaar ID saving Indian govt about $1 billion per annum: World Bank

New Delhi: Hailing India’s Aadhaar digital ID, the World Bank has said the initiative is estimated to be saving the government about $1 billion annually by curbing corruption as it underlined that digital technologies can promote inclusion, efficiency and innovation. “We estimate that this (Aadhaar digital ID) is saving approximately $1 billion (Rs 650 crores) […]

GoI sets up panel on 7th Pay panel’s advice

GoI sets up panel on 7th Pay panel’s advice

New Delhi: Government of India on Wednesday decided to set up a high-powered panel headed by Cabinet Secretary P K Sinha to process the recommendations of the 7th Pay Commission which will have a bearing on the remuneration of 47 lakh central government employees and 52 lakh pensioners. The Cabinet has approved the setting up […]

BSNL starts 4G service with soft launch in Chandigarh

BSNL starts 4G service with soft launch in Chandigarh

NEW DELHI: State-owned BSNL on Wednesday started 4G services on a non-commercial basis in Chandigarh promising broadband speed of up to 100 megabit per second (Mbps). “We have done soft launch of 4G service in Chandigarh. It is non-commercial service as of now. It will be open for limited number of BSNL employees, while customers […]