RBI hikes its share in National Housing Bank with Rs.1,000 crore

The Reserve Bank of India (RBI) on Friday announced it has increased shareholding in its wholly-owned subsidiary, the National Housing Bank (NHB), by contributing Rs.1,000 crore towards its paid-up capital. “The Reserve Bank has contributed Rs.1,000 crore towards the paid up capital of the National Housing Bank on January 12, 2016, thereby increasing its shareholding […]

Odd-even ends, Kejriwal calls it a success

NEW DELHI:  The Delhi government’s odd-even scheme restricting movement of private vehicles on alternate days will end today amid indications that it could be reintroduced in the future. The move, aimed at curbing alarming levels of pollution in the national capital, meant that four-wheelers, which account for nearly a third of Delhi’s nearly 90 lakh […]

Economic growth to gain momentum: Jaitley

New Delhi: Finance Minister Arun Jaitley on Wednesday said the economy is moving in the right direction and the pace of growth will gather momentum in the coming quarters on the back on-going structural reforms. “The economic growth is moving in the right direction and its pace is expected to gather momentum in the coming […]

Cabinet approves new crop insurance scheme

In a bid to provide a social security net to millions of farmers across the country, who have been reeling under the impact of two consecutive droughts, the Union Cabinet on Wednesday approved a new crop insurance scheme having premiums as low as 1.5 per cent of the sum insured. The scheme, to be called […]

India’s Domestic Air Passenger Traffic Up 25% in November

New Delhi: India’s domestic passenger traffic surged by a robust 25.1 per cent in November last year, fuelled by higher capacity deployment, improved economic sentiment coupled with Diwali festival rush, even as other major aviation markets such as Brazil, Russia and Japan delivered a negative growth during the same period. The overall average domestic travel […]

Reliance Jio, RCom to Sign Spectrum Sharing Deal Next Week: Report

MUMBAI: Reliance Communications (RCom) and Reliance Jio Infocomm (RJIL) are likely to sign spectrum trading and sharing agreements next week. According to sources, as part of the agreement, RCom will receive about Rs. 4,500 crore from RJIL for sale of 800-850 MHz spectrum in 12 circles. The proceeds from the sale will be used to […]

Chinese Mobile Makers Commit Major Investment in ‘Make in India’ Initiative

In a fillip to Prime Minister Narendra Modi’s ambitious ‘Make in India’ initiative, over 100 top Chinese handset and component manufacturers gathered in New Delhi on Wednesday in what could bring $2-$3 billion investment in Indian mobile manufacturing operations in the next two years. Top officials from major Chinese companies such as Techno, Gionee, Coolpad, […]

HDFC’s New Fund Plans Logistics Foray, Targets Raising $500 Million

New Delhi: A new private equity fund of mortgage lender Housing Development Finance Corp (HDFC) will target raising $500 million from offshore investors for domestic property projects, including in warehousing and logistics, a senior company executive said. Asset manager HDFC Property Fund has mainly invested in housing projects through earlier funds but, for the first […]

India’s factory output falls, retail inflation inches up

Hopes of a revival in India’s manufacturing activity after a sharp spike in October were belied, with factory output actually registering a fall in the month after at a four-year low, according to official figures released on Tuesday. To deal a further blow, the annual retail inflation also crept up to 5.61 percent in December. […]

Modi Govt asks India Inc to focus on skilling

MUMBAI: Inviting India Inc to join the government’s initiative of creating skilled manpower, Union Minister Venkaiah Naidu today said the programme will be taken to the block level by creating training centres for various sectors.  “We have the inherent strength (manpower)  but we need to upgrade it. Today there is a huge shortage of manpower […]