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Rs 8,788-cr FDI proposals cleared in '02 lowest since 1992 — Govt may cozy up to NRIs
NON-RESIDENT Indians (NRIs) are filling in the gap in foreign direct investments (FDI) created by the apparent waning of interest of large multinational corporations to invest in India, according to FDI figures available with the Department of ...
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S&P retains `junk' status for local currency rating
INTERNATIONAL rating agency Standard and Poor's today retained India's local currency ratings, which it had downgraded last September to junk status. The agency said the rating remains constrained by high public debt and serious fiscal ...
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Rating move only a reiteration: Govt
THE Finance Ministry has downplayed the Standard & Poor's Rating Services' decision to maintain its `negative outlook' for the Indian economy, while not revising the country's long-term sovereign credit ratings at their existing `BB plus' ...
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Serious frauds office in the offing
THE Union Finance Minister, Mr Jaswant Singh, has said that he would seek the Union Cabinet's approval on Thursday for opening a serious frauds office in the country so that the problems of corporate governance could be addressed ...
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Deposit your cash... and be charged for it
BANKS, you would have thought, welcome cash. That's their business, after all. But they seem to think that there is too much of it floating around. They want to charge you, if you deposit cash in your current account. Being charged for remitting ...
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Maruti hikes prices
MARUTI Udyog today hiked prices of its vehicles, except Baleno and Versa, by 0.33 per cent to 1.7 per cent, citing higher input costs such as increased steel prices. As per the current revision, the 800 standard model will be dearer by Rs 2,135 ...
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Panel submits roadmap for divesting 4 PSUs
THE Disinvestment Commission has submitted its recommendations on four PSUs National Buildings Construction Corporation Ltd, Indian Medicines Pharmaceuticals Ltd, Cotton Corporation of India and Jute Corporation of India. In its report ...
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Current account deal limit raised
IN a bid to further liberalise the procedure for import of services, the Reserve Bank of India (RBI) has raised the limit for all admissible current account transactions up to $100,000 from the previous limit of $ 25,000. Where the advance ...
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Rajiv Nair quits Microsoft
MR Rajiv Nair, President of Microsoft Corporation India and the first employee of the software giant in the country, has quit the company. A Microsoft spokesperson said Mr Nair is evaluating options of "doing something on his own". Mr Nair ...
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