Finance

Govt commissions study on new housing technologies by IIT Kanpur

With an objective of promoting new housing technologies, the Housing Ministry has commissioned a study by IIT Kanpuron testing new construction methods. The Ministry has approved a proposal in this regard made by the Indian Institute of Technology, Kanpur and agreed to support the study with a financial assistance of Rs 31.34 lakhs. The initiative comes in the context of ... Read More »

Android 6.0 Marshmallow rolling out to Sprint LG G Stylo

Less than a couple of weeks after the LG G4 on Sprint started receiving the Android 6.0 update, the carrier has started rolling out Marshmallow to LG G Stylo devices on its network. The update bumps the software version to LS770ZV7. Needless to say, the update will bring all the usual Marshmallow goodies, including Doze, a feature which promises improved ... Read More »

HDFC Bank chief on India’s economic recovery and why he won’t go abroad for growth

Aditya Puri, a former Citibank executive, has been at the helm of HDFC Bank since its launch in 1994, making him the longest-serving head of any Indian bank. HDFC Bank was for a while the world’s most expensive, as investors cheered its conservative approach and consistent double-digit growth. Still largely untouched by bad debts that are crippling state-run rivals, it ... Read More »

India ranks 4th in black money outflows per annum: Report

India ranks fourth in black money outflows with a whopping $51 billion siphoned out of the country per annum between 2004-2013, a US-based think-tank’s report said today. Notably India’s defence budget is less than $50 billion. China tops the list with $139 billion average outflow of illicit finances per annum, followed by Russia ($104 billion per annum) and Mexico ($52.8 ... Read More »

Rupee ends flat at 66.83 against dollar; halts five day slide

Breaking a five-session downfall, the rupee finished a tad higher against the American currency at 66.83 per dollar on mild selling of greenback. Weak dollar sentiment largely supported the rupee movement despite impending historic Fed rate hike even as domestic equities slumped to fresh three-months low. The domestic united opened flat with a positive bias at 66.83 per dollar compared ... Read More »

Tri-weekly Mumbai-Madgaon double-decker train from today

A new tri-weekly AC double decker train service between Mumbai and Madgaon in Goa will commence from Wednesday. The train will leave Lokmanya Tilak Terminus (Mumbai) on every Wednesday, Friday and Sunday at 05.30 am and reach Madgaon at 7.30 pm the same day, a Central Railway release said in Mumbai on Tuesday. On return journey, the train will depart ... Read More »

Pollution woes: Delhi announces new odd-even formula

In a change from its earlier plan, the Delhi government announced on Tuesday that private vehicles with odd and even registration numbers will ply on odd and even dates, respectively from January 1. “It will be datewise,” Transport Minister Gopal Rai told the media, days after the government said odd numbered vehicles would ply on Mondays, Wednesdays and Fridays and ... Read More »

Govt ready to impose more curbs on steel imports

The government is readying to impose more curbs on steel imports, including introducing a safeguard duty, after a 20 per cent import tax failed to contain losses for producers such as Steel Authority of India. SAIL, JSW Steel and Essar Steel have complained thatsurging imports from Indonesia, China, Japan, Russia, Ukraine and South Korea were squeezing their market share and ... Read More »

Government’s public debt rises 2.1 per cent in September quarter

The public debt of the central government provisionally rose 2.1 per cent in July-September this fiscal on a quarterly basis. The total public debt (excluding liabilities under the ‘public account’) of the government increased to Rs 54.12 lakh crore at September-end 2015, from Rs 53.01 lakh crore at June-end 2015, said the Quarterly Report on Debt Management for July-September 2015. ... Read More »

Real possibility of govt delaying fiscal deficit targets: Fitch

Managing fiscal arithmetic after implementing seventh pay panel recommendations will be a challenge and there is a “real possibility” of Finance Minister Arun Jaitley delaying the fiscal consolidation plan again, Fitch said on Monday. “The main issue for the budget will be fiscal issue, how are they going to manage the 0.5 per cent extra wage bill. Also, it would ... Read More »