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Business

DoT examining legal implications of SC order before any action

The Department of Telecom will study the legal implications of the Supreme Court order cancelling 122 2G telecom licenses before deciding on the future course of action. “DoT has to first study legal implications of the order. It will require some time to understand and interpret the order before deciding on any action. As of […]

Banking

Central Bank Of India revises interest rate on NRE,FCNR(B),& RFC deposits

Revised interest rates, applicable to fresh FCNR(B) deposits accepted / renewals made on or after February 01, 2012 will be as under: You can contact author @ [email protected]

Stock & Share

Sensex gains over 560 points in past three trading sessions

The Sensex at the Bombay Stock Exchange rose 37 points, or 0.2 per cent, to 17,469, in early trade, today, on modest buying by funds and retail investors. Later, the Sensex traded in a narrow range, as it oscillated between the negative and positive zone, and stood a slim 9 points in positive territory, at […]

Banking

Central Banks special mega credit camp

by NR INDRAN / INT Central Bank of India organized a Special Mega Credit Camp at SPBT College,Ville Parle, Mumbai, for its branches under Mumbai and Thana Region. As the Bank has completed 100 years in Dec’11, the Bank has arranged this Credit Camp to sanction the loans of more than Rs100Crs. On this occasion […]

Business

SC scraps 122 2G spectrum licences granted under Raja’s tenure

In a major development having implications for the corporate sector, the Supreme Court on Thursday cancelled the 122 2G spectrum licences granted by former telecom minister A Raja on the ground that they were issued in a “totally arbitrary and unconstitutional” manner. Imposing a fine of Rs five crore each on three telecom companies, which […]

Business

Don’t see much impact on customer, auction preferred: Trai

Telecom regulator Trai on Thursday said there will not be much impact on customers due to cancellation of 122 2G licenses of eight companies, as around 95 per cent of total subscribers belong to operators which got licences before January 2008. “The Supreme Court judgement will be implemented. Customers will not be impacted from the […]

Stock & Share

Sensex up 131 pts led by IT, metal stocks

The Bombay Stock Exchange benchmark Sensex on Thursday made gains for the third straight day – up 131 points on sustained buying by funds, especially in IT and metal sectors amid strong gains in the Asian region on signs of growth in major global economies. Sensex, which had gained 437 points in last two sessions, […]

Finance

Govt discontinues weekly WPI release

The government on Thursday announced discontinuing releasing weekly primary and food inflation data based on the Wholesale Price Index. “Weekly WPI is discontinued henceforth,” the Ministry of Commerce and Industry, which releases the inflation data, said. The government, however, will continue releasing the monthly headline or overall inflation data, which also contains the break-up for […]

Business

Oil hovers below USD 98 amid mixed US demand signs

Oil prices hovered below USD 98 a barrel on Thursday in Asia amid mixed signs about the strength of US crude demand. Benchmark crude for March delivery was down 1 cent at USD 97.60 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 87 cents to […]

Business

Chrysler back in black two years after bankruptcy

Less than two years after a government-backed bankruptcy, iconic US automaker Chrysler posted its first annual profit and vowed to keep the money pouring at an even faster pace on Monday. Chrysler’s remarkable success at the hands of Italy’s Fiat comes after failed marriages to German’s Daimler and private equity group Cerberus and years of […]