New Delhi: In signs of better job market prospects, hiring activities increased across many sectors, including banking and pharma in April, says a survey by leading employment portal Naukri.com. Naukri.com's Job Speak Index climbed to 1,193 in April from 1,170 in March. The index is a monthly measure of online job demand. Noting that the first month of the financial quarter starts on a positive note, Naukri.com said the index...
08:10 PM, May 10, 2012
New Delhi: The Cabinet on Thursday okayed the Banking Laws (Amendment) Bill seeking to raise voting rights ceilings in private banks. The cabinet chaired by Prime Minister Manmohan Singh cleared the bill as recommended by the parliamentary standing committee on finance. The Banking Laws (Amendment) Bill, 2011 was tabled in Parliament in 2011 and sent to the parliamentary standing committee for its views. The committee headed by former finance minister...
08:28 PM, Apr 26, 2012
New Delhi: The Reserve Bank said that banks have not really made a significant penetration to extend mobile banking services, even among their existing customers. "Banks have not really made a significant penetration even among their existing customers to extend mobile banking services," RBI Deputy Governor KC Chakrabarty said at an International Banking Summit in Mumbai today. "The most important concern is that there is a significant percentage of financially...
11:44 AM, Mar 30, 2012
Vikram Limaye Age: 45 Career: Joined IDFC in 2005; prior to that, was associated with Credit Suisse First Boston in the US Education: CA, Mumbai University; MBA, Wharton Interest: Likes playing tennis Question: Where will the growth in infra-lending come from? Vikram Limaye: There is not much growth in the environment. Yet, we are clear that IDFC will focus on disciplined, profitable growth with no compromise on asset quality. So,...
04:29 PM, Mar 22, 2012
New Delhi: Finance Minister Pranab Mukherjee played it safe in unveiling the federal budget on Friday, pledging reforms but setting only modest targets for trimming a ballooning fiscal deficit, disappointing investors. The following sectors/companies will be hurt by the budget: * Oil explorers such as ONGC, Oil India (OILI.NS) and Cairn India (CAIL.NS) will be hit after the budget proposed to raise cess on crude oil to 4,500 rupees per...
11:45 PM, Mar 16, 2012
New Delhi: It is the D-day and the big question remains. Will political uncertainty make Finance Minister Pranab Mukherjee bid goodbye to controversial reforms like FDI in retail and fuel price hikes? In the aftermath of the Rail Budget fiasco, which saw Railway Minister Dinesh Trivedi having to face flak within hours of presenting the budget, mainly because his party chief Mamata Banerjee did not agree with the train fare...
08:05 AM, Mar 16, 2012
Mumbai: The Reserve Bank of India (RBI) has left key policy rates untouched on Thursday mainly on the back of high fiscal deficit and rising crude oil prices. The central bank has not cut rates for more than two years. In this period, the repo rate, which is the rate at which banks borrow money from RBI, has gone up by 3.5 per cent to 8.5 per cent. The Reserve...
11:19 AM, Mar 15, 2012
Unlike any other earlier budgets, the banking sector this time around is very keenly watching the finance minister for his announcements. The sector has been hit by under capitalisation, non-performing assets from various government and private sector lending like power, infrastructure, agriculture, among others. Lower credit growth due to slowing economy has added to the woes of the banking sector. Top on the list will be capital infusion in public...
06:47 PM, Mar 13, 2012
The Reserve Bank of India (RBI) is widely expected to hold interest rates steady at its policy review on Thursday ahead of the Budget, a new Reuters poll found, which showed expectations for a start to the rate cut cycle have been pushed back since January. The RBI will leave its key repo rate unchanged at 8.5 per cent, 17 of 20 analysts polled by Reuters said. In a January...
07:47 PM, Mar 12, 2012
When Finance Minister Pranab Mukherjee presents the Union Budget 2012 on March 16, experts will be keenly hearing his comments on fiscal deficit. India's fiscal deficit is a cause for worry now. It is expected to exceed the targeted 4.6% of GDP. Former finance secretary S Narayan says, fiscal deficit in percentage terms will be optically low due to inflation. "Projected fiscal deficit for the next year is unlikely to...
06:27 PM, Mar 02, 2012
New Delhi: A nation-wide 24-hour strike called by 11 major trade unions on Tuesday evoked a mixed response disrupting public sector banking operations and transport services in some states but normal life remained largely unaffected. The strike in protest against the government's "anti-labour policies" was by and large peaceful with no major incidents of violence being reported. Air services remained normal while train services were disrupted in some divisions of...
06:55 PM, Feb 28, 2012
New Delhi: Banking and transport services remained crippled in many parts of the country following the 24-hour nationwide strike called by 11 major trade unions. The strike call was given to protest against rising prices, disinvestment of profit-making PSUs and the violation of labour laws. West Bengal and Kerala were the worst hit. There were reports of a CPI(M) office in Kolkata being attacked allegedly by Trinamool Congress workers. The...
02:47 PM, Feb 28, 2012
New Delhi: Life has come to a standstill in parts of India due to the 24-hour nationwide strike by trade unions and government employees on Tuesday. In all, 11 trade unions across party lines along with 8 lakh public sector employees with the exception of those in the Railways are participating. Banking, transport and government services have been hit across the country including major cities like Delhi, Mumbai and Kolkata....
09:18 AM, Feb 28, 2012
Kolkata: As trade unions across India go on a strike on Tuesday, in West Bengal, Chief Minister Mamata Banerjee has instructed her ministers to ensure that no government employees take part in the bandh, which she said was Left sponsored. She has warned of consequences if her orders are violated. A 12-hour general strike called by the Left unions on Tuesday has the Bengal government seeing red. As rallies were...
07:54 AM, Feb 28, 2012
New Delhi: India may grind to a halt for the next 24 hours as a nationwide strike by trade unions and government employees has been planned for Tuesday. In all, 11 trade unions across party lines along with 8 lakh public sector employees with the exception of those in the Railways are expected to participate. Banking, transport and government services are likely to be hit across the country including major...
07:31 AM, Feb 28, 2012
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