In a bid to check inflation, which is hovering around 9 per cent, Reserve Bank of India on Tuesday raised its short term lending (repo) rate by 50 basis points to 7.25 per cent, while lowering the economic growth projection to 8 per cent for the current fiscal. The RBI has also increased the...
Banking
India to issue coins of Rs. 150 prior to budget
For the first time in the country’s minting history, government will issue coins of Rs. 150, marking the number of years of taxation in India. The special coins, to be released by Finance Minister Pranab Mukherjee before his Budget speech, will also be brought out in Rs. 5 denomination on the occasion of completion...
SBI to open 50 more branches in Gujarat by fiscal-end
The nation”s largest lender State Bank of India will open 50 more branches in Gujarat by fiscal-end according to Gujarat Circle Chief General Manager P Nanda Kumaran. Moving towards paperless banking culture, the state-run lender has proposed to open a separate 24X7 operationalSelf Service branch. “We will open a Self Service branch in Ahmedabadbefore...
RBI decides to withdraw all coins below 50 paisa
The government of India has taken a decision to withdraw ’25 paisa’ coin from circulation from June 30 2011. From this day the 25 paisa coins will cease to be legal tender in the country. The days of ‘chavanni’, ‘chhar aanaa’, ‘paavli’ will be over. ‘The minimum denomination coin acceptable for transaction will be...
Gujarat’s 3,502 villages to see financial inclusion by March 2012
Business Standard report suggests that according to State Level Bankers’ Committee (SLBC), there are 3502 villages in Gujarat having population over 2,000 that are going to get banking service by March 2012. Government of India initiated the Financial Inclusion Plan in which banks have to cover initially the villages having population over 2,000 which...
State Bank of India launches solar power ATM in Bhunga of Kutch border village
The State Bank of India today launched an ATM in traditional ‘Bhungo’ hut at Gujarat’s Kutch district border village Dhordo. Dhordo is going to witness a one-month long Ranotsav tourism event between 19 December and 19 January. About two thousand tourists and guests from all over the world will visit Dhordo tent city during...
Reserve Bank of India asks Surat based Udhna Citizen Co operative Bank to stop transactions
The Reserve Bank of India (RBI) has placed restrictions on the Udhna Citizen Co operative Bank , for poor liquidity conditions. The restrictions on the co-operative bank have been placed in accordance with Section 35A of the Banking Regulation Act, 1949. The bank was under the Reserve Bank of India (RBI) scanner and a...
India gets new Rupee symbol – Download it in various formats
The Union Cabinet today approved the symbol for the Indian Rupee. This symbol will be used by all individuals/entities within and outside India after its incorporation in `Unicode Standard’, ‘ISO/IEC 10646’ and ‘IS 13194’. A public competition was held amongst resident Indian citizens inviting entries for the symbol, which reflects and captures the Indian...
'The common virtue in top entrepreneurs is confidence in self'
By Japan K Pathak Do you know ? Suzlon’s Tulsi Tanti is world’s third-largest wind turbine supplier but Suzlon Energy was his 17th venture in life. Or do you know, Baba Kalyani, the Chairman and Managing Director of Bharat Forge contributes a part in every second truck in the US? You can have plenty...
Hinduja Group Chief Shrichand Hinduja meets Modi
Srichand Hinduja, head of Hinduja Group today met Gujarat Chief Minister Narendra Modi in Gandhiangar, official sources said. season of the witch movie online streaming the big bang quotes They discussed business development potential in the state in the fields of energy, gas, power and higher education and health care, they said. State Government...
Uco Bank targets double business from Gujarat in two years
A Kolkata-based public sector Uco Bank targets 100% business growth in Gujarat in next couple of years. Presently the state contributes around 4% to the total business of the bank. The bank recently launched a ‘Flagship Companies Centre’ in Ahmedabad. The centre, which is the fifth in the country will sanction loans exceeding Rs...