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| Chidambaram for plugging regulatory gaps in financial sector |
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New Delhi: Amid outcry over Ponzi schemes causing huge losses to common people, finance minister P Chidambaram on Wednesday said there are regulatory gaps and efforts are being made to frame a new law to oversee financial sector.\"The present arrangements have a number of gap areas, where no regulators are unambiguously in-charge, such as issue of regulatory oversight over diverse Ponzi schemes th |
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| Gold price spurts Rs 680 to regain Rs 27K-level
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New Delhi: Gold prices on Tuesday jumped sharply by Rs 680 to Rs 27,050 per ten grams in the bullion market here on heavy buying by stockists and retail customers amid a sharp rebound on the global front.Recovering from from a 31-month low, silver spurted by Rs 2,030 to Rs 44,200 per kg.Gold had plunged to 21-month low in the previous session which triggered the value buying, traders said.Prices r |
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| StanChart to acquire Morgan Stanley\'s private banking arm
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Mumbai: Standard Chartered India on Monday said it has agreed to acquire the private wealth management business of Morgan Stanley India for an undisclosed amount, subject to regulatory approvals.\"Standard Chartered India has agreed to acquire Morgan Stanley\'s onshore private wealth management business here. The acquisition complements our existing private banking onshore business and will signif |
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| I-T Dept slaps Rs 582 cr tax demand notice on Infosys |
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New Delhi: Income Tax department has slapped a fresh USD 106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India\'s second largest IT firm.The Bangalore-based software services exporter is already contesting additional income tax demands of USD 214 million (about Rs 1,175 crore) for four fiscals years beginning 2005 and said it will take lega |
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| Delhi to get tout-free, seamless property registration system
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New Delhi: In a major revamp of existing property registration system, Delhi Government will put in place a transparent mechanism by end of the year under which people will be able to access hassle-free services in all 13 sub-registrar offices without any jurisdictional issue.The aim of the ambitious project -- first of its kind in the country -- is to offer people a tout-free and seamless propert |
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| Wal-Mart lobbying case \'closed\' due to lack of evidence: Report |
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New Delhi: India\'s investigation into whether Wal-Mart may have bribed Indian officials to gain wider access to the country\'s vast market has been \"closed\" due to lack of evidence, a report said on Saturday.The one-man committee of retired justice Mukul Mudgal probing the matter is likely to submit a report to the government next week saying there was no \"adequate\" evidence to suggest Wal-Ma |
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| S&P warns India of rating downgrade; retains negative outlook |
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New Delhi: Global agency Standard & Poor\'s on Friday warned that it may downgrade India\'s sovereign rating to junk grade if the government fails to pursue reforms and check deterioration in fiscal and current account deficits.While retaining India\'s sovereign rating at \'BBB-\' with a negative outlook, S&P said there is at least a one-in-three likelihood of a downgrade within the next 12 months |
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| ONGC pushes TCS to second at the end of trade |
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Mumbai: State-owned energy major Oil and Natural Gas Corporation (ONGC) on Thursday reclaimed the spot as the country\'s most-valued company, pushing IT giant TCS to the second slot. At the end of trade, ONGC commanded a market value of Rs 2,89,047 crore. This is about Rs 4,428 crore more than TCS\'s market cap of Rs 2,84,619 crore. ONGC scrip ended 0.82 per cent higher, while TCS lost 1.02 per ce |
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| Rupee ends little changed as euro fall offsets share gains |
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Mumbai: The rupee closed little changed on Thursday as gains in the domestic share market were offset by the euro\'s fall versus the greenback.The demand-supply in the market was also adequately matched, holding the pair in a fairly tight range for most of the day, dealers said.\"It was an absolutely dull day. There was bidding from importers all throughout while around 54.87/88 levels there was g |
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| RBI to launch inflation-linked bonds on June 4
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Mumbai: The Reserve Bank on Wednesday announced it will launch inflation-linked bonds every month, starting June 4, to attract household savings of up to Rs 15,000 crore this fiscal so as to discourage investments in gold.\"RBI, in consultation with Government of India, has decided to launch Inflation Indexed Bonds (IIBs),\" the central bank said in statement.The first tranche of the IIBs: 2013-14 |
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