APN News

  • Tuesday, April, 2024| Today's Market | Current Time: 01:56:07
  • Developing countries must stand united in its efforts to reform global institutions of governance & finance : PM

    The Prime Minister Dr, Manmohan Singh has said that developing countries must stand united in its efforts to reform global institutions of governance and finance. Addressing a joint press conference with the chairperson of the African Union and President of Equatorial Guinea Teodoro Obiang Nguema Mbasogo, Dr Singh said that the struggle for the transformation […]

    Banks cannot provide loans against IDRs: RBI

    Reserve Bank of India on Wednesday has said banks cannot extend loans against Indian depository Receipts (IDRs) issued by overseas companies. An IDR is a rupee-denominated instrument in the form of a depository receipt created by an Indian depository against the underlying equity of the issuing foreign company. It is similar to American or Global […]

    FDI declines 32 percent in Q1

    The foreign direct investment-FDI, in India saw a decline of 32 per cent during the first quarter this year. India received foreign direct investment worth 3.39 billion US Dollars during January-March. According to the latest data from the industry ministry, in the country received FDI worth 4.96 billion US Dollars in the first quarter last […]

    Over 2,000cr lost by banking sector in fraud during 2009-10: CBI

    CBI says, over 2,000 crore rupees were lost by the country’s banking sector in frauds during 2009-10. Addressing the ‘Third Conference of Central Vigilance Officers of 31 Public Sector Banks and Financial Institutions’ in New Delhi, CBI Director A P Singh said, these include over 200 frauds of above one crore rupees each. He warned […]

    2G case: Court defers order on Kanimozhi’s bail plea to 20th May

    In a sort of anti-climax, a special court on Saturday prolonged the suspense on the bail application of DMK MP Kanimozhi in the 2G spectrum case by deferring the pronouncement of its order till 20th May. “The order is deferred to May 20,” Special CBI Judge O P Saini said after marking the presence of […]

    ICICI Bank ties up with Sampath Bank for Money2SriLanka

    Mumbai:  ICICI Bank Limited (“ICICI Bank”), India’s largest private sector bank today, announced the launch of Money2SriLanka (M2SL), an online remittance tracking facility in collaboration with Sampath Bank PLC. ICICI Bank has a presence in Sri Lanka through its branch office in Colombo. M2SL is a web-based online remittance tracking platform which facilitates remittances from […]

    Agile Financial Technologies gets more agility with IDG Ventures India’s Investment

    Mumbai: Indian BFSI software products company, Agile Financial Technologies (www.agile-ft.com), announces the successful completion of its US$ 5.7mn Series A financing, led by IDG Ventures India (IDGVI). This funding will enable Agile Financial Technologies (Agile FT) to surge ahead with its organic and inorganic growth plans and expansion into new markets. With a rapidly growing […]

    RBI issues notification to Indian CEOs of all foreign banks functioning in India

    The Reserve Bank of India on Wednesday issued a notification stating that the Indian Chief Executive Officers of all foreign banks functioning in the country would be held responsible for incompliance of any regulatory and statutory banking norms. The notification also states that the CEO will be answerable for the audit process, review of the […]

    Pact between RBI, J&K Bank a win-win situation for state: Omar

    Jammu & Kashmir Chief Minister Omar Abdullah on Monday said the pact inked between J&K Bank and the Reserve Bank of India (RBI) was a win-win situation for the state government, the financial institution and people of the state. “The pact has only cancelled the overdraft facility to the state government, which had risen from […]

    NCAER Announces The Appointment Of Shekhar Shah As Its New Director-General

    New Delhi: The National Council of Applied Economic Research (NCAER) in New Delhi announced the appointment of the economist and World Bank Economic Adviser Dr. Shekhar Shah as its new Director-General. In making the announcement, Nandan Nilekani, President of NCAER’s Governing Body and Chairman of the Government of India’s Unique Identification Authority, said: “I am […]