APN News

  • Sunday, September, 2021| Today's Market | Current Time: 03:11:10
  • Bad loans cast a outline on profit growth:SBI

    The country’s largest bank, the State Bank of India, reported a robust performance in the quarter to June, beating average earnings estimations of `2,440 crore of various broking houses and the ET Intelligence Group. The state-owned bank posted a profit of `2,914 crore for the June 2010 quarter, and not surprisingly, its stock rose by […]

    Double digit food inflation matter of concern: Pranab

     Finance Minister Pranab Mukherjee on Saturday expressed concern over rising prices as the food inflation, after a gap of two weeks, entered the double digits driven mainly by higher prices of essential items. “Of course it (food inflating) is a concern,” he told reporters on the sidelines of a meeting with chiefs of PSU banks. […]

    Rice exports dipped 13pc to 2.15 mt last fiscal

    India’s rice exports declined by 13 per cent to 2.15 million tonnes in FY2009-10 but in value terms it rose marginally to Rs 11,253 crore, the Rajya Sabha was informed on Wednesday.   The rice exports declined to 2.15 million tonnes in 2009-10 from 2.48 million tonnes in the previous fiscal, Minister of State for Commerce […]

    RBI proposes foreign investment in pvt banks below 50%

    The Reserve Bank on Wednesday suggested lowering the foreign investment limit in new private sector banks to below 50 per cent from 74 per cent currently, in order to strengthen the local banks.  “This would enable foreign capital to be used in the promotion of domestic banks … This would allow for foreign technical collaboration […]

    FM not averse to more fiscal, monetary steps to ease inflation

    Concerned over rising prices, Finance Minister Pranab Mukherjee has said more fiscal and monetary steps could be taken to ease inflation, if required. “The Reserve Bank is constantly watching monetary expansion. To improve the supply position, import doors are kept open and as and when some steps are called for, we will be in a […]

    Govt plans to divest stake in ONGC, IOC; may raise Rs 21k cr

    The government plans to sell 5 per cent of its stake in Oil and Natural Gas Corp (ONGC) and 10 per cent in Indian OilCorp (IOC) to raise about Rs 21,000 crore this fiscal, Oil Secretary S Sundareshan announced. “We have received a note from Department of Disinvestment that says they have approval of the […]

    Prices still main worry, says PMEAC; RBI optimistic

    The Prime Minister’s economic advisory panel expressed concerns over double-digit inflation even as the Reserve Bank exuded confidence that prices will come down by the second half of the fiscal on account of measures taken by it, among other things. “There are signs of weakening (of inflation), (but) the level of inflation still remains high. […]

    Abnormal rate hikes will impact investments, jobs: Pranab

    Finance Minister Pranab Mukherjee on Wednesday supported the gradual approach adopted by the Reserve Bank for tightening monetary policy, saying abrupt rate hikes would scuttle the growth and job scenario. “If the interest rates are hiked abnormally, naturally there will be no investment, there will be no growth, there will be no job creation,” Mukherjee […]

    Indian Economy moving fast towards USD 2 trillion mark

    The Indian economy would grow to USD 1.72 trillion in 2011-12, moving closer towards the USD 2 trillion mark, according to an assessment by the Prime Minister’s Economic Advisory Council (PMEAC). The country’s gross domestic product (GDP) at the market and current prices was measured at USD 1.31 trillion in 2009-10 and is estimated to […]

    China to Continue Exchange Rate Reform: PBOC

    China will continue to reform its exchange rate formation mechanism to consolidate coordinated and sustained economic growth amid a rise in production costs. “The current adjustment in the price of production factors and the reform of the exchange rate formation regime are in accordance with the correct direction of our country’s macro control policy,” wrote […]