Bangalore: Karnataka State Road Transport Corporation on Saturday announced a 10.50 per cent hike in bus fares to mop up an additional Rs 186.72 crore annually, citing the mounting financial burden imposed by hike in diesel prices.
In tandem, Bangalore Metropolitan Transport Corporation also announced a modest fare hike ranging from Re 1 to Rs 3.
The hike would come into affect from midnight, KSRTC and BMTC said in separate statements.
KSRTC said the financial burden on the Corporation due to fuel price hike will be Rs.120.10 crore per annum....
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08:49 PM, Jun 15, 2013
Anil Rego, personal finance expert and CEO and founder of Right Horizon joined IBNLive readers for an interaction on financial planning and investment tips. Q. I'll be retiring after 10 yrs. Should I invest in fixed deposit or pension plans for retirement planning? Which will give more and guaranteed returns? Asked by: Madhu A. It is good that you are planning to do it well in advance. it is good...
06:12 PM, Jun 13, 2013
New Delhi: Goa Chief Minister Manohar Parrikar will meet Prime Minister Manmohan Singh in Delhi on Wednesday. The Chief Minister is expected to demand a special status for Goa and push for a financial package for those affected by closure of mining activity in the state. An all-party will be meeting Prime Minister today and the Congress is likely to be represented by MP Francisco Sardinha in Delhi. Goa's Leader...
09:52 AM, Jun 12, 2013
Berlin: Germany has approved new measures to rein in high-risk financial business of banks and to decouple them from retail banking as part of a comprehensive reform to prevent a repeat of the financial crisis five years ago and to minimise the costs for taxpayers if banks were to be bailed out in the future. The Bundestag, the lower house of parliament, on Friday voted with the majority of the...
07:40 AM, May 19, 2013
London: The Financial Times' website and Twitter feeds were hacked on Friday, renewing questions about whether the popular social media service has done enough to tighten security as cyber-attacks on the news media intensify. The Syrian Electronic Army, an online group that supports Syrian President Bashar al-Assad, was behind the incident which followed a phishing attack on the company's email accounts, FT reported on its website. The attack is the...
12:46 PM, May 18, 2013
London: The website and Twitter feed of British newspaper the Financial Times were hacked on Friday, apparently by the "Syrian Electronic Army", a group of online activists who say they support Syrian President Bashar al-Assad. The group posted links on the newspaper's Twitter feed to a YouTube video, uploaded on Wednesday, which purports to show members of the al Qaeda-linked Nusra Front Syrian rebel group executing blindfolded and kneeling members...
08:29 PM, May 17, 2013
Mumbai: JM Financial Ltd has said that former Citi Chief Executive Vikram Pandit and his business partner, Hari Aiyer are to buy a 3 per cent equity stake in the financial services company through an issue of warrants. JM Financial also said it would set up a fund jointly with Pandit's firm to buy distressed assets. The fund is targeting an initial capitalisation of $100 million, JM Financial said in...
09:05 PM, May 16, 2013
Kolkata: A deposit firm agent committed suicide, while police quizzed a CEO of a company under the Saradha group banner Monday as West Bengal continued to grapple with the fallout of the chit fund scam, purported to be the biggest financial scandal to hit the state. Ujjwal Samaddar, 27, who worked for Sanmarg, a chit fund company, was found hanging on Sunday in his home in north 24 Parganas district's...
04:45 AM, May 14, 2013
CNN-IBN had exposed how 40 financial companies in Odisha had duped investors of more than Rs 20,000 crore. ...
03:18 PM, May 11, 2013
Mumbai: Inflation is likely to be range-bound and stay around the current levels in this financial year as supply-side issues, along with recent price adjustments in fuel prices, will offset the recent gains, RBI said on Thursday. "Headline inflation in 2013-14 is expected to remain range-bound around the current levels," RBI said in its annual Macroeconomic and Monetary Developments report. It added: "While sluggish global growth may dampen global inflation...
12:59 AM, May 03, 2013
Bhubaneswar: A scam as big as the chit fund fraud in West Bengal has been exposed, but this time it is in Odisha. A CNN-IBN exclusive shows how fraudulent investment companies are duping investors in the state. Investors have been swindled off nearly Rs 20,000 crore by 40 finance companies in Odisha. Seashore Group, one of the companies being probed by Odisha police, has duped over 80,000 investors and collected...
06:38 PM, May 01, 2013
New Delhi: With the Lok Sabha passing the Finance Bill and Demands for Grants for various ministries, Government on Tuesday said it will continue with its efforts for passage of other bills on food security and land acquisition, which are "equally important". "I don't think it is correct to say that with the passage of Finance Bill, the government's concerns are over or its interest is over. All other bills...
03:42 PM, Apr 30, 2013
It was a Parliament washout again on Monday as the opposition kept up the heat on the government in the Lok Sabha and Rajya Sabha over the 2G and coal allocations controversies. ...
05:35 PM, Apr 29, 2013
New Delhi: Expressing concern over the misuse of central funds in Odisha, a delegation led by state Congress president Niranjan Patnaik met Prime Minister Manmohan Singh to seek a need-based financial package for the state, party leaders said in Delhi on Saturday. "The prime minister has said that there is no discrimination whatsoever with Odisha as is being claimed by the state government, and under the revised guidelines of backwardness,...
06:01 AM, Apr 28, 2013
London: WikiLeaks has said it has secured a victory in Iceland's Supreme Court against the financial blockade imposed by Visa and MasterCard on donations for the secret-spilling site. Visa and MasterCard were among half a dozen major US financial firms to pull the plug on WikiLeaks following its decision to begin publishing about 250,000 US State Department cables in late 2010. WikiLeaks has claimed that the financial blockade led to...
06:54 AM, Apr 25, 2013
Washington: Finance Minister P Chidambaram on Friday said the three stimulus packages India had provided to the economy in the wake of the global financial crisis post 2008-09 lead to a higher fiscal deficit, inflation and slowdown in growth. He said the government is going to take more steps on the supply side to bring down the inflation and ensure 7 per cent growth rate in 2014. The three stimulus...
03:10 AM, Apr 20, 2013
Jaipur: Accusing BJP leaders of tarnishing image of Rajasthan, Congress on Wednesday said the opposition leaders' statements reflected their "frustration". PCC president Dr Chandrabhan said that the BJP leaders in Suraj Sankap Yatra were making statement to hurt the image of the state which, he said, was on development path due to better financial management by the Congress government. "The BJP leaders are making such statements which are not in...
01:42 AM, Apr 18, 2013
Beijing: The fifth BRICS summit has promoted unity among major emerging economies and injected fresh impetus into the cooperation mechanism, Chinese Foreign Minister Wang Yi said on Sunday. President Xi Jinping attended the summit, which brought together leaders of Brazil, Russia, India, China and South Africa, as part of his first overseas trip since assuming the presidency in March 2013. The meeting in Durban marked the first time that the...
04:58 AM, Apr 01, 2013
Nicosia: Major depositors in Cyprus's biggest bank will lose around 60 per cent of savings over 100,000 euros, its central bank confirmed on Saturday, sharpening the terms of a bailout that has shaken European banks but saved the island from bankruptcy. Initial signs that big depositors in Bank of Cyprus would take a hit of 30 to 40 per cent - the first time the euro zone has made bank...
04:08 AM, Mar 31, 2013
Nicosia: The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests and would end anxiety, but he also announced "very temporary" capital controls to stem a run on the island's banks. Returning on Monday from fraught overnight negotiations in Brussels, the conservative leader said the 10-billion euro rescue plan agreed there in the early hours of the morning was...
07:35 AM, Mar 26, 2013
