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Finance


The Centre has approved programme worth Rs 74,000 crore towards ensuring an improved water supply, sewerage, and drainage, Union minister Hardeep Singh Puri said Tuesday. The housing and urban affairs minister was labeling the gathering at the National Water, Sanitation and Hygiene (WASH) Innovation Summit, which is being conducted by the National Institute of Urban …

How does rbi repo rate affect home loan rate

The Monetary Policy Committee of the RBI increased the policy rate by 25 basis points on Wednesday and the repo rate currently stands at 6.50 percent. This increase in repo rate will grow the cost of funds and therefore lead to a rise in the MCLR (marginal cost of funds based lending rate), which banks …

Hope Urjit Patel and team ‘have a spine’, show PM Modi his place Rahul Gandhi on RBI Board meet

After the RBI Central Board meeting in Mumbai on Monday, Congress president Rahul Gandhi hoped RBI Governor Urjit Patel and his team “have a spine” and resist Prime Minister Narendra Modi’s alleged trial to “destroy” every independent institution in the country. Tweeting, Gandhi said: “Mr. Modi and his coterie of cronies, continue to destroy every …

FPIs invest over $1 bn on easing oil prices, rupee recovery

Foreign investors have reached in nearly Rs 8,285 crore into the Indian capital markets so far this month, after pulling out hefty funds in October, due to the decrease in crude oil prices, recovery in rupee and improvement in the liquidity situation. The current infusion comes following a net outflow of more than Rs 38,900 …

Petrol price cut by 20 paise; now at mid-August levels

The price of petrol has been reduced by 20 paise a liter and diesel by 18 paise a liter. This is the 29th straight daily reduction in rates. The price hikes had, earlier, increased a political uproar. The rates have been on the decrement since October 18. This has cleared out all hikes in fuel …

Govt wants to ‘capture’ RBI’s reserves

Ahead of the RBI Board meeting, Congress leader P. Chidambaram said that the central government was determined to “capture” the bank to gain control over its Rs 9 lakh crore reserves. In a series of tweets, the former finance minister also claimed that the government and the Reserve Bank of India (RBI) are heading towards …

Govt to refund employers for seven weeks of maternity leave given to employees

The government will provide employers with the salaries for seven of the 26 weeks of maternity leave for women earning more than Rs 15,000 a month, the Women and Child Development ministry announced on Thursday. The announcement, which includes the government as well as the private sector, comes in the wake of complaints that many …

CBI c

The CVC’s “exhaustive” preliminary report on allegations against CBI Director Alok Vermafigures that some findings are “complementary” and some “very uncomplimentary”, needing further investigation by the panel, the Supreme Court said on Friday. A bench led by Chief Justice Ranjan Gogoi ordered that the confidential Central Vigilance Commission report be given to Verma in a …

SMEs floundering even as Gujarat prepares for global investor summit

Even as Gujarat Chief Minister Vijay Rupani is set to organize a roadshow in New Delhi on Friday for the upcoming investment extravaganza Vibrant Gujarat Global Summit (VGGS), industries in the State are reeling under cost escalations and improper policy implementation. Increasing concern over the deteriorating business atmosphere in the State, the Gujarat Chamber of …

urjit patel

RBI governor Urjit Patel is scheduled to come before a parliamentary panel on November 27 to brief it on various issues, comprising the stand-off with the government, status of the economy and demonetization, sources said. The 31-member Parliamentary Standing Committee on Finance, which comprise former Prime Minister Manmohan Singh, is headed by senior Congress leader Veerappa Moily. When asked, Moily …

NC will contest J&K Assembly polls

After boycotting the municipal and panchayat polls in Jammu and Kashmir, the National Conference (NC) stated that Friday the party would contest the state Assembly election to avoid the BJP from “installing its proxies via the backdoor”. “The (National Conference) working committee decided to stay away from polls was limited to ULB (urban local body) and …

Govt for greater involvement in the decision making of RBI

The government wants greater involvement in the Reserve Bank of India (RBI‘s) decision making as it feels the current practice leaves it out on many critical matters like single-day default turning a loan into an NPA, sources said ahead of the crucial board meeting of the central bank. The government feels that as the representative of the people, …