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Economic growth may cross 8% in next 2 yrs: Suresh Prabhu

June 08, 2018

New Delhi: India's GDP growth is likely to cross 8 per cent in the next two years and the government is taking a number of steps including formulation of a new industrial policy to double the economy's size to USD 5 trillion in 7-8 years, Commerce Minister Suresh Prabhu said today. "We are working on few strategies to boost economic growth. We are...

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Petrol, diesel prices was hiked today

May 14, 2018

New Delhi: After a 19-day pre-Karnataka poll hiatus, petrol price was today hiked by 17 paise a litre and diesel by 21 paise as PSU oil firms began passing on the spike witnessed in international rates to consumers. Petrol price in Delhi was hiked to Rs 74.80 per litre from Rs 74.63 while diesel rates were increased to Rs 66.14 a litre from Rs 65....

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Rupee gains 12 paise against dollar

May 14, 2018

The rupee strengthened by 12 paise to 67.21 against the dollar in early trade on Monday on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market. Forex dealers attributed the rise in the rupee to weakness of the dollar against other currencies overseas. However, industrial output growing by 4.4 ...

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Walmart acquires India's Flipkart

May 09, 2018

NEW DELHI: Walmart Inc has agreed to pay $16 billion for a roughly 77 per cent stake in Indian online shopping site Flipkart, the US retailer's biggest foreign investment ever as it battles rival Amazon.com Inc in one of the world's biggest emerging markets. The remainder of the business will be held by some of Flipkart's existing shareholders, in...

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India will be the fastest growing major economy in 2018: IMF

May 09, 2018

United Nations: The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that rises to 7.8 per cent in 2019 with medium-term prospects remaining positive. The IMF's Asia and Pacific Regional Economic Outlook report said that India was recovering f...

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Customers' money safe, says PNB

April 03, 2018

NEW DELHI: State-run lender Punjab National Bank (PNB) has said its customers' "money is safe with us". Addressing its customers through a FAQ document, the fraud-hit bank said: "The bank has a strong balance sheet of around Rs 11 lakh crore and sufficient non-core assets to meet any contingent liability on the bank. We are and will always be comm...

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Key Indian equity indices open flat

April 03, 2018

MUMBAI: Key Indian equity indices opened on a flat note with nominal losses on Tuesday. Around 9.16 a.m., the wider Nifty 50 of the National Stock Exchange (NSE) fell by 19.75 points or 0.19 per cent to trade at 10,192.05 points. The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 33,197.42 points, traded at a 33,253.12 po...

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RBI fines ICICI Bank Rs 59 cr for securities' sales violation

March 29, 2018

Mumbai: The Reserve Bank of India (RBI) said on Thursday it has imposed a penalty of Rs 58.9 crore on ICICI Bank for non-compliance of its directions on direct sale of securities. The bank clarified its position saying its held-to maturity (HTM) sales happened "due to a genuine misunderstanding on the timing of the applicability of RBI's direction...

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Equity indices open lower, Nifty50 slips below 10k mark

March 23, 2018

Mumbai: Key Indian equity indices on Friday opened on a subdued note following a global sell-off, with the Nifty50 of the National Stock Exchange (NSE) slipping below the 10,000-level. At 9.16 a.m., the Nifty50 -- which opened at 9,968.80 points -- declined by 120.20 points or 1.19 per cent to trade at 9,994.55 points. The barometer 30-scrip Sens...

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