| May 22, 2015, 11:12 pm IST
The government hopes to sell shares in ONGC and India Oil Corporation. to raise about a third of its budget target for asset sales of $11 billion and reduce its fiscal deficit to 3.9 per cent of GDP in the 2015/16 fiscal year.
| May 22, 2015, 5:57 pm IST
Arun Jaitley said it's too early to consider the improvement in the bad loan situation last quarter as a "turnaround" and was keeping his fingers crossed.
The 30-share index opened higher and quickly regained the crucial 28,000-mark in afternoon trade to hit the day's high of 28,071.16 on optimism over rate cut by the Reserve Bank of India.
The local currency had surged 18 paise to 63.64 in Thursday's trade on fresh selling of the dollar amid the latter's weakness in overseas markets.
| May 21, 2015, 11:14 pm IST
As per its Terms of Reference, the panel would give its recommendations to Sebi (Securities and Exchange Board of India) on issues related to the further development of the alternative investment and startup ecosystem in India.
The 'Seat Select' option is available on domestic routes between Delhi, Mumbai, Bangalore, Kolkata, Chennai and Hyderabad for flights operated on Boeing 737 aircraft.
Forex dealers said besides selling of the American currency by exporters and banks, the dollar's weakness against other currencies overseas supported the rupee.
The rupee gained in the early trade. It has opened higher by 9 paise at 63.73 per dollar versus 63.82 on Wednesday.
The two areas where there is some displeasure is maiden budget and a continuation of tax uncertainty.
The government has said while the tax will not apply from April 1, 2015 onwards, past incomes will face the levy, a stand challenged by foreign investors.
| May 20, 2015, 9:36 pm IST
The SpiceJet offer, which was announced on Tuesday, is valid till midnight on Thursday and tickets can be booked for travel between July 1 and October 15.
| May 20, 2015, 11:46 am IST
Multilateral institutions like the IMF need to re-examine "rules of the game" but central banks should not ignore international responsibilities despite their domestic mandates, RBI Governor Raghuram Rajan has said.
| May 20, 2015, 11:47 am IST
The expectations from the new government when it came to power in 2014 were "probably unrealistic" but it has taken steps to create an environment for investment and is "sensitive" to concerns of investors, RBI Governor Raghuram Rajan has said.
The rupee had recovered by five paise to close at 63.67 against the US currency in the previous session.
Across South Asia, the expansion is expected to be driven by buoyant household consumption and a gradual recovery in investment.
Noting that policy rates cannot be reduced significantly below zero, though a number of European countries are testing these limits, Rajan said equilibrium long term interest rates may stay higher than levels necessary to incentivise investments.
The rupee commenced lower at 63.78 per dollar from last close of 63.72 at the Interbank Foreign Exchange market on Tuesday and immediately touched a low of 63.81 on initial demand for the American currency from banks and importers amid downward correction in domestic equities.
The Indian rupee opened with marginal loss of 8 paise at 63.79 per dollar against previous close of 63.71.
Earlier this month parliament approved the annual finance bill containing the amendments to the Foreign Exchange Management Act (FEMA).
| May 18, 2015, 8:43 pm IST
A Financial Services Cell has been created in the Railway Ministry to focus on resource mobilisation aspect.