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India’s Foreign Exchange Reserves up $5.84 bn
India's foreign exchange reserves increased by $5.84 billion to $327.88 billion for the week ended Jan 30, Reserve Bank of India (RBI) data showed. The reserves had declined by $97.9 million to $322.03 billion in the previous week (Jan 23).…
Govt to infuse Rs 6,990 Cr in Nine Public Sector Banks
The government has decided to infuse Rs.6,990 crore in nine public sector banks (PSBs) soon, out of the current year's budget, for which orders are being issued, an official statement said Saturday. "This year, the government of India has…
Rural India rises with Mahindra Insurance Brokers
(Mahindra FinanceMahindra Insurance Brokers Ltd. (MIBL) began life with an equity capital of Rs.50 lakhs, and all of 14 people. Today, it numbers over 650 people, with PAT of Rs. 42 crore in F2014. Its solutions now reach over 1 lakh…
Reliance Communications inks Agreement with Avaya Inc
Reliance Communications, part of the Anil Ambani-led group, has signed a five-year multi-million dollar agreement with Avaya Inc through which the latter will overhaul its business process outsourcing centres. The objective is to provide an…
Mirach Group deny Fraud, say Ready to buy Sahara Assets
Denying "unfounded" allegations of forgery, the US-based Mirach Capital Group has asserted that it remains "ready, willing and able" to buy Sahara assets, but its loan offer was no longer on the table. The syndicate of five UK and US…
BSE Sensex plunges 133 Points; Auto Stocks slide
A benchmark index of Indian equities markets closed Friday's trade down 133 points or 0.46 percent as interest sensitive stocks like automobiles and bank plunged. Heavy selling pressure was seen in automobile, bank, healthcare, capital…
Tata Communications bags $20-mn Deal from KION Group
Tata Communications has won a $20 million multi-year contract from the KION Group, the second largest global manufacturer of forklift trucks and warehouse technology, a statement said on Friday. Tata Communications will provide global wide…
Obama names Delhite Ajay Banga to Trade Policy Body
President Barack Obama intends to appoint Ajay Banga, the Indian-American President and CEO of MasterCard, as a member of the Advisory Committee for Trade Policy and Negotiations. The White House Thursday announced Obama's intent to appoint…
HDFC Bank mum over raising Rs.10,000 crore through QIP
Private lender HDFC Bank Thursday remained silent on reports it has raised over Rs.9,880 crore through its qualified institutional placement (QIP) and American Depository Receipts (ADR) that opened late Wednesday. According to reports…
PAHAL Yojana will End Black Marketing in LPG: Modi
Prime Minister Narendra Modi on Thursday said direct cash transfer schemes like the "PAHAL Yojana" will bring an end to black-marketing and subsidies will reach people more effectively. Expressing satisfaction at the registration of 10…