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    Demonetisation Impact: IMF Cuts India's Growth To 6.6 Per Cent

    The IMF on Monday cut India's growth rate for the current fiscal year to 6.6 per cent from its previous estimate of 7.6 per cent due to the "temporary negative consumption shock" of demonetisation, days after the World Bank also decelerated India's growth estimates."In India, the growth forecast for the current (2016 17) and next fiscal year were trimmed by...

    • 37 min ago
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    Group Led By Akhilesh Wins Samajwadi Party's 'Bicycle' Symbol

    In a major boost to Uttar Pradesh Chief Minister Akhilesh Yadav, the Election Commission on Monday recognised the faction headed by him as the Samajwadi Party and alloted the reserved symbol 'Bicycle' to it for contesting the coming Assembly elections.The group led by Akhilesh Yadav is the Samajwadi Party and is entitled to use its name and reserved symbol Bicycle, the...

    • 37 min ago
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    India Takes Up With Bahrain Non-Payment Of Salary To Workers

    India has taken up with Bahrain at a high level the issue of non-payment of salary to Indian workers, one of whom died during a protest against the employer, the External Affairs Ministry said on Monday."M/s G. P. Zachariadis Overseas Ltd., a construction company which employs nearly 1,500 Indian workers has been faced with severe financial hardship. This has resulted in...

    • 37 min ago
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    Increase In ATM Withdrawal Limit An Eyewash: Mamata

    West Bengal Chief Minister Mamata Banerjee on Monday described as an "eyewash", the Centre's announcement of increasing the cash withdrawal limit from ATMs and demanded that all restrictions be withdrawn immediately."Government eye wash announcement. Money not available in banks. All restrictions should be withdrawn immediately #DeMonetisation," Banerjee said in a...

    • 37 min ago
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    Akhilesh's Nameplate At Party Office As Mulayam Threatens Contest

    Supporters of the UP Chief Minister on Monday put up a nameplate at Samajwadi Party headquarters that read "Akhilesh Yadav, Party President", moments after Mulayam Singh Yadav stunned partymen by declaring he would fight against his son if he did not shed his "negative approach" towards Muslims.Hardly had the 77-year-old SP patriarch left the party headquarters...

    • 37 min ago
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    Rupee Rebounds Against Dollar On Robust Macro Data

    The rupee made a modest comeback on Monday against the American currency, gaining by 6 paise to end at 68.10 on fresh dollar selling by banks even as macro data improved significantly.Buoyant macro economic data released over the weekend alongside firm local equities largely supported the recovery momentum despite bullish dollar overseas.Though, trading was largely confined to narrow range bound...

    • 2 hrs ago
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    Reliance Industries Q3 Net Profit Up 10 Per Cent

    India's oil-to-telecoms conglomerate Reliance Industries Ltd beat analysts' estimates to post a 10 percent increase in third-quarter standalone net profit, as high margins from its core business of crude oil refining helped bolster earnings.The "standalone" profit and revenue figures include the company's refining and petrochemicals business and oil and gas exploration in...

    • 2 hrs ago
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    Steep Fall In Tractor Sales After Demonetisation

    Tractor sales, which are often seen a barometer of rural economic conditions, fell more than 50 per cent after the November 8 demonetisation announcement. As per data released by he Tractor Manufacturers Association (TMA), total industry sales (domestic and exports) in the month of December stood at 36,897 units compared with 100,261 units in October 2016.In the month of November, when the...

    • 2 hrs ago
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    Reserve Bank Relaxes Cash Withdrawal Limit With Immediate Effect

    The Reserve Bank of India (RBI) on Monday (January 16) relaxed cash withdrawal limits from automated teller machines (ATMs) and current accounts with immediate effect.The RBI has allowed individuals to withdraw upto Rs 10,000 ($146.84) per debit card per day from ATMs, higher than the Rs 4,500 currently. However, the overall weekly withdrawal limit of Rs 24,000 per card remains...

    • 3 hrs ago
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    MediaTek Holds Smartphone Design Training For Indian Mobile Brands In Taiwan

    MediaTek Inc successfully concluded its "Smartphone Design Training Program" created to accelerate the "Make in India" initiative.MediaTek has developed the training program to foster and educate talent for India's fast-growing handset industry by sharing its smartphone expertise and knowledge with a group of handpicked senior managers and...

    • 3 hrs ago

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