The government’s customs duty collections grew 32.8% to Rs 18,116 crore in September 2014, indicating that domestic economy and investment cycle may have turned with increased non-oil imports contributing to the rise in collections. Share on: whatsapp
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RBI to invite applications for bank licences
The Reserve Bank will soon invite applications for issuance of licences in three categories — small banks, payment banks and universal banks — to achieve financial inclusion target. Reserve Bank will shortly invite fresh applications to grant licence in three…
Credit growth up 11% but still lags deposits at 13%
After remaining sub-10 per cent for two consecutive fortnights, bank credit grew 11 per cent to Rs. 62,69,007 crore for the fortnight ended October 3. In the corresponding fortnight last year, bank credit stood at Rs. 56,50,107 crore. In the last fortnight, the credit…
Swiss Bank to provide timely info on black money
In a major breakthrough in India’s fight against black money allegedly stashed abroad, Switzerland on Wednesday said it will examine Indian requests for banking information on a priority basis and provide requested details in a time-bound manner. The Swiss authorities would also “assist…
SEBI issues guidelines on one-time registration process
Sebi on Monday issued guidelines to stock exchanges and clearing houses that require them to share information about their members, among others, as part of streamlining the registration process for market entities. The Securities and Exchange Board of India (Sebi) had…
RBI may Increase CRR
RBI is expected to increase CRR next month to signal a rate increase. In what could be the first sign of a rise in interest rates, bulk deposit rates have started rising. Deposits of over Rs 5 crore are usually classified as bulk deposits. At…
September retail inflation comes down to 6.46%
India’s annual consumer price inflation eased for a second straight month in September to 6.46 percent, its lowest level since the government started releasing the data in 2012. With core inflation coming off incrementally, RBI’s comments on controlling inflation may…
Merger &Acquisition hit a downfall of 65%
Mergers and acquisitions deals in India have dropped 65 per cent sequentially to $4.7 billion in the quarter ending September, according to Mergermarket, a global M&A intelligence service provider. Deals in the quarter were 20 per cent lower than $5.9…
Govt clears 25 FDI proposals worth ₹ 1,546.12 crore
The Government has cleared 25 Foreign Direct Investment proposals worth ₹1,546.12 crore which includes six related to single brand retail trade. The Finance Ministry, which gave the approvals based on recommendations made by the Foreign Investment Promotion Board, also cleared…
India’s services export at $12.24 billion in August is same as last year
India’s services exports in August 2014 were almost same from a year earlier at $12.24 billion. The services exports by Indian firms were at $12.31 billion in August 2013. However, import of services during the month rose by 7.5 per…