RESERVES

  • Maharashtra government does away with 5 per cent job quota for Muslims 6 hours 13 minutes ago

    Mumbai: Muslims will not get the five per cent reservations in Maharashtra government jobs as announced by the erstwhile Congress-NCP government just before Assembly polls last year, it was officially announced on Wednesday. "An ordinance to this effect (providing a five per cent job quota) lapsed on December 23 last...
  • Sensex falls 644 from top after hitting 30,000 on RBI rate cut 19 hours 56 minutes ago

    Mumbai: Benchmark indices nosedived in the last hour of trade on Wednesday after touching record highs earlier in the day spurred by the 25 basis point repo rate cut. The 30-share BSE Sensex shed 213 points to close at 29380.73, after hitting a new high of 30024.74 intraday. The 50-share...
  • RBI cuts repo rate by 25 basis points to 7.5%, home loans may be cheaper 20 hours 18 minutes ago

    Mumbai: In a surprise move, the Reserve Bank of India on Wednesday cut repo rate by 25 basis points from 7.75 per cent to 7.5 per cent with immediate effect. This is the second rate cut in the past two months. The cut in repo rate is likely to make home...
  • Union Budget 2015: India to inject $1.3 billion to shore up state banks 3 days ago

    Mumbai: India will inject 79.4 billion rupees ($1.3 billion) into state-owned banks in the next fiscal year to bolster their capital reserves, a smaller-than-expected sum which means the sector's heavyweights may have to turn to the market or curb lending. Successive governments have poured billions into India's bad-debt burdened state banks,...
  • Maharashtra minister threatens to quit if reservation quota is scrapped 5 days ago

    Mumbai: Maharashtra Social Justice Minister Rajkumar Badole on Friday said that he would quit if reservation quotas in government job recruitments and promotions were scrapped. "There is a year's time to appeal against the order. The government is positive on the issue. I will quit if quota is scrapped," Badole said...
  • Budget: Chanakya's opinion poll on public demands, ways to improve railways 6 days ago

    This is the first time in many years that a government with full majority will present its railway budget. Today's Chanakya carried out an opinion poll on the public's demands and ways to improve our railways right from tatkal reservations to cleanliness and safety. ...
  • FIIs pour Rs 10,000 crore in Indian capital markets in two weeks February 15, 2015

    New Delhi: Overseas investors have pumped in over Rs 10,000 crore in Indian capital markets in the first two weeks of this month on hopes of a pro-growth budget and rising expectations the government will accelerate reforms. The fund inflow this month takes the investment to above Rs 43,000 crore (USD...
  • RBI surprises by cutting repo rate by 25 basis points, hints lowering rates further January 15, 2015

    New Delhi: The Reserve Bank of India cut its repo interest rate by 25 basis points to 7.75 per cent in a surprise move on Thursday, making its first reduction in a year as inflation showed signs of slowing and the government was making efforts to contain the fiscal deficit. The...
  • Muslims deserve reservations, says Asaduddin Owaisi January 7, 2015

    Beed: The former Congress-NCP government in Maharashtra kept the Muslim community backward and it deserves reservations, MIM leader Asaduddin Owaisi has said. The Sachar committee and other similar panels had recommended reservations for the Muslim community, he pointed out. "The Congress-NCP government kept the community backward and denied it benefit...
  • Basin Reserve showed fluctuating nature of Test cricket January 7, 2015

    Wellington: The fluctuating nature of Test cricket was never more evident than the last five days at Wellington's Basin Reserve as New Zealand somehow managed to fight back to record an 193-run win in the second Test over Sri Lanka and seal a 2-0 series victory. Fortunes ebbed and flowed, individual...
  • Sensex rises 380 points to 3-week high; banking stocks in limelight January 2, 2015

    Mumbai: Rising for the sixth day in a row, the benchmark Sensex on Friday surged 380.36 points to end at over three-week high of 27,887.9 on encouraging manufacturing data and gains in banking stocks on hopes of sectoral reforms. The NSE barometer Nifty also soared over 111 points to close at...
  • Finance Minister Arun Jaitley denies pressuring RBI to cut rates December 30, 2014

    Mumbai/ New Delhi: Finance Minister Arun Jaitley denied on Tuesday that he was pressuring the Reserve Bank of India (RBI) into cutting interest rates, after his comment that the high cost of capital was stifling investment sent markets into a tizzy. Jaitley, in a speech in Delhi on Monday, said "costly...
  • SC refuses to interfere with Bombay HC order that stays Maratha reservation December 18, 2014

    Mumbai: The Supreme Court has refused to interfere with the order of the Bombay High Court which stayed the move to grant 16 per cent reservation to Marathas in public service and educational institutions in Maharashtra. "It is just an interim order, let the Bombay High Court decide it," a bench...
  • RBI slaps penalty of Rs 50 lakh on ICICI Bank, Rs 25 lakh on Bank of Baroda December 18, 2014

    New Delhi: The Reserve Bank of India (RBI) on Wednesday imposed a penalty of Rs 50 lakh on ICICI Bank and Rs 25 lakh on Bank of Baroda for violation of KYC norms, a statement issued by the apex bank said. "The Reserve Bank of India has imposed monetary penalty on...
  • Oil drops below $59 for first time since 2009 December 16, 2014

    London: Oil fell below $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month sell off as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand. International benchmark Brent crude has almost halved since reaching a 2014 high of $115 a barrel...
  • Full statement: RBI keeps key rates unchanged in its bi-monthly monetary policy December 2, 2014

    Mumbai: On the basis of an assessment of the current and evolving macroeconomic situation, RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent. Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been...
  • RBI expected to hold rates, sound dovish to soothe government December 2, 2014

    Mumbai: The Reserve Bank of India is expected to keep interest rates unchanged on Tuesday, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth. Forty-one of 45 economists saw the RBI keeping the repo rate at 8.00...
  • Seven tiger cubs spotted in Satpura tiger reserve November 23, 2014

    Bhopal: Seven tiger cubs have been spotted for the first time in Satpura Tiger Reserve which comprises parts of Madhya Pradesh's Hoshnagabad, Betul and Chhindwara districts. "Yes, seven new guests have arrived in our park," Tiger Reserve Field Director RP Singh told PTI. He said while one tigress has given birth...
  • Rate cut by RBI will give a good fillip to the economy: Arun Jaitley November 18, 2014

    Pushing for a rate cut by the Reserve Bank of India, Finance Minister Arun Jaitley said that the measure would give a good fillip to the economy. Jaitley's comments came on the back of a slide in crude oil prices and inflation moderating. "I am quite clear in my mind...
  • Maharashtra: Bombay HC upholds Muslim quota in educational institutions, Maratha quota stayed November 14, 2014

    Mumbai: The Bombay High Court has stayed Maharashtra government's decision to give 16 per cent reservation to Marathas in public service and educational institutions. The High court has also stayed the state government's decision to provide 5 per cent reservation to Muslims in public service but allowed them reservation in...
  • Watch: IIP up by 2.5 per cent against 0.4 per cent in August November 13, 2014

    With consumer price inflation dipping and factory output growing slightly, all eyes are now on the Reserve Bank of India. Will it or will it not cut rates at its next meeting is the question. ...
  • Rajnath Singh urges Maoists to end violence and be part of democracy November 13, 2014

    Gurgaon: Home Minister Rajnath Singh on Thursday urged Maoists to end violence and be part of democracy for the betterment of India and its people. Rajnath Singh was speaking as the chief guest during the 75th Raising Day of the paramilitary Central Reserved Police Force (CRPF. The minister said there was no...
  • RBI against loan waiver scheme by state governments November 13, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan expressed reservation over the loan waiver scheme by various state governments and also suggested reasonable interest rate ceiling on loans from microfinance lenders. "Repeated loan waivers by various state governments distorts credit pricing, thereby also disrupting the credit market," he said at a function...
  • Pay Rs 20 for using ATM over 5 times a month November 1, 2014

    New Delhi: Using ATMs to withdraw money or for other purposes like balance enquiry beyond five times in a month will attract a levy of Rs 20 per transaction from Saturday. As per the Reserve Bank's new guidelines that comes into force from Saturday, bank customers in six metros-- Delhi, Mumbai,...
  • RBI redistributes work among Deputy Governors October 21, 2014

    Mumbai: The Reserve Bank, which is in the process of restructuring some of its departments, redistributed work among its four Deputy Governors. It said that consequent on reorganisation of the departments/work areas in the Reserve Bank effective on November 3, 2014, the portfolios of the Deputy Governors has been redistributed....
  • Telangana CM urges PM to implement 33% reservation for women October 1, 2014

    Hyderabad: Telangana Chief Minister K Chandrasekhar Rao wrote to Prime Minister Narendra Modi on Wednesday to implement 33 per cent reservation for women in Parliament as well as state legislatures. In a letter written to the Prime Minister, Rao also sought 33 per cent reservation for Other Backward Classes (OBC) both...
  • Bombay HC to set up inquiry into allotment of flats from CM's quota September 29, 2014

    Mumbai: The Bombay High Court on Monday said that it will initiate inquiry by a retired High Court judge into the alleged illegal allotment of flats under the Chief Minister's quota. The division bench headed by Justice Abhay Oka asked the Advocate General to consult the registry and come up...
  • Need to break back of inflation: Raghuram Rajan September 25, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan said there was a need to "break the back" of inflation which remains high and controlling it would make the apex bank's position more comfortable. "The real problem is inflation that is persistent. We have been emphasising again and again in order to break...
  • Exclusive: How India is managing its tiger reserves September 16, 2014

    There are 47 tiger reserves in India that are key to the survival of the beautiful beast, who continues to face threats from poachers and loss of habitat in the name of development. In those reserves lives not just the tiger but the world's hope as India, where 60 per cent...
  • Money laundering: RBI takes action against erring UCBs September 14, 2014

    New Delhi: Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money. The central bank has also asked state governments to take stern action against any other erring UCBs after reports emerged...