New Delhi: After three years and 13 consecutive rate hikes, the RBI has finally reversed the gear. In a surprise move, the RBI cut the repo rate - at which it lends to banks - by half a per cent. It is a strong signal to banks to cut interest rates on loans. Deepak Parekh said, "RBI has bitten the bullet." The banks admit the signal can't be ignored -...
08:59 PM, Apr 17, 2012
New Delhi: This summer, get ready to face the heat. India is 21,000 MW short of electricity, which means long nights without power. The reason is that 25 power stations have just about four days of coal left to fuel the power plants and a little more than 30 stations have just 7 days of stock left. The Central Electricity Authority has warned that Delhi's Rajghat plant, Haryana's Mahatma Gandhi...
08:46 AM, Apr 16, 2012
Mumbai: Amid widespread protests by bullion traders, Finance Minister Pranab Mukherjee has called a meeting with jewellers' associations on Friday to sort out the issue related to increase in taxes on gold and non-branded jewellery. Protests against the Budget proposal to impose excised duty on jewellery have turned violent in Mumbai, Ahmedabad, Punjab and Delhi. The jewellers' associations which includes the Bullion Traders Association, Market Sarafa Association and diamond traders...
06:06 AM, Apr 05, 2012
New Delhi: For the urban India, banking means a stop at the nearest ATM, but what about the lakhs of people in the rural India who have no such access? But now thanks to the Eko system of banking, the mobile retail network has tied up with the SBI allowing almost 11 lakh rural customers to bank through their local shops. Sanjay Kumar works at a laundry in Delhi. In...
11:45 AM, Dec 14, 2011
New Delhi: On a day when the Opposition has managed to get the government to holdback FDI in multi-brand retail, it is a different story on ground as farmers want FDI in the small town of Hapur. The claim is being made by a Walmart funded centre in Hapur that pays farmers more than double for their produce. CNN-IBN travelled to Hapur and found out that Walmart has come as...
01:40 PM, Dec 07, 2011
New Delhi: The Manmohan Singh government has bitten the bullet, opening up India's retail sector to foreign investment. It is a bold policy move and a game changer for the retail market. Brands such as Wal-Mart, Tesco and Carrefour can now enter and tap the nearly 600 billion-dollar Indian retail market. The government has opened up the retail sector, allowing 51 per cent foreign investment in multi-brand retail and 100...
08:09 AM, Nov 25, 2011
New Delhi: A sudden spurt in employment opportunities in Bihar is posing a peculiar problem for the rest of the country. More than 50 per cent of Bihar's labour force which usually migrates to other states is choosing to stay back for jobs. Till a few years back, Ram Vilas worked as construction labour in Delhi. With Bihar's economy looking up, Vilas has returned to the pavilion, armed with a...
06:28 AM, Nov 18, 2011
However, in a two-hour long press conference, there was no clear announcement of how the airline plans to recover. ...
10:02 PM, Nov 15, 2011
New Delhi: Rising costs of aviation turbine fuel and a falling rupee have only added to the woes of the aviation sector in India. Air India accumulated losses of Rs 13,500 crore and Kingfisher airlines accumulated losses of over Rs 4,500 crore. These numbers cast a dark shadow on India's growing aviation sector. Indigo airlines is the only profitable airline posting a yearly profit of Rs 650 crore as disclosed...
06:12 AM, Nov 15, 2011
New Delhi: The Government has been blaming oil companies for increasing petrol prices as it is the only oil product that is deregulated. But how true is its claim that not raising prices will bleed these companies to death? Every time petrol prices are raised the nation goes through a wave of protests. Indian Oil Corporation, a Navratana company with an annual income of Rs 313000 crore, in the first...
07:00 AM, Nov 09, 2011
New Delhi: Pakistan's decision to grant India Most Favoured Nation (MFN) status is likely to boost trade between both countries. India exports vegetables and few other items valued at about 15 hundred crore rupees every year via the Attari-Wagah border crossing. And now with Pakistan granting MFN status to India the list of export items crossing the border is set to expand. The move is being welcomed in New Delhi....
11:30 AM, Nov 05, 2011
New Delhi: If you are trying to get your hands on a Formula 1 ticket, the good news is that 20 per cent tickets are still waiting to be sold. What's more, a lukewarm demand may have prompted the organisers to change their selling strategy. Instead of full season they have now given an option of only final race day tickets which has bringing down prices by almost 60 per...
06:58 AM, Oct 28, 2011
Sports' greatest travelling circus the Formula One has reached India and corporate India too has queued up for associating with this event. ...
08:55 AM, Oct 20, 2011
New Delhi: Just days before Diwali, the country is dangerously close to a big power crisis with many areas already seeing hours of load shedding. The government on Friday promised an improvement within five days. However, in West Bengal, the Kolaghat Power Plant is left with only 20 hours of electricity while the Bakreshwar plant is left with just one day of power. In New Delhi, the Rajghat plant may...
08:39 PM, Oct 14, 2011
New Delhi: The Planning Commission's definition for poor has raised a storm across the country. According to Planning Commission, Rs 32 is the limit after adjusting inflation. But let's check how realistic this limit is. Rickshaw puller Jitender Paswan earns Rs 100 a day. Out of this, he spends Rs 49 on food. If we break it up, it works out to Rs 20 on rice, Rs 15 on dal,...
12:26 PM, Oct 05, 2011
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