Web Exclusive Sep 03, 2013 RBI suggests reducing govt stake in PSU banks In a discussion paper, Reserve Bank of India (RBI) suggested that the government may consider reducing its stake below 51 per cent in state-run banks. While reducing its stake, government may take certain protective rights by amending the statutes governing the PSU banks, the paper
Infra Finance Sep 01, 2013 Investment: A legacy of perception? An India-US Infrastructure Fund that was set up in 2010, but with the US recently lodging a formal complaint against India with World Trade Council on entry barriers to companies, things could be on wait-and-watch mode.
Communication Feature Sep 01, 2013 AAIs best CSR practice Airports Authority of India (AAI) bagged the '3rd Asia's Best CSR Practice Award' under the category Developing Sustainable Strategies for the year 2013. The award was received by Manoj Kumar, AGM (HR), AAI, in an inspiring event held in Singapore.
Policy Update Sep 01, 2013 Land transfer to metro rail firms The Union Cabinet recently approved the proposal for treating 50:50 joint ownership metro rail companies like DMRC at par with CPSUs for transfer of land. This will allow to transfer/alienation of land including defence land to metro rail companies having 50:50 partnership between the Government of India
Policy Update Aug 26, 2013 Current Account Deficit will be at 3.7% of GDP: Govt The Union Finance Minister P Chidambaram has recently told the Parliament that his Ministry has taken several measures to ensure the Current Account Deficit (CAD) be fully and safely financed in the current year. If the CAD is contained at $70.0 billion, it will amount to 3.7 per cent of GDP (as against 4.8 per cent in 2012-13), Chidambaram said.
Web Exclusive Aug 25, 2013 Rupee weakness puts upward pressure on interest rates Interest rate in India is rising on the back of the steep decline in the value of rupee against the dollar in recent months. Experts feel that the depreciating rupee raises domestic interest rate through three ways. First, in order to discourage speculation in the currency market, Reserve Bank of India (RBI) tightens liquidity and raises shor
Web Exclusive Aug 17, 2013 RBI, govt must introduce more steps to meet deficit Analysts opine that the government and the Reserve Bank of India (RBI) may require more effective measures to fight the current account deficit or balance of payments and fiscal problems. Though outward foreign investments have increased over the past few years, RBI's curbs will not mean much in actu
Web Exclusive Aug 11, 2013 Domestic steel output stands at 19.61 mn t in Apr-Jun 2013 Union Minister of Steel Beni Prasad Verma informed the Lok Sabha that domestic production of crude steel in the first quarter of the current year stood at 19.61 million tonne. He further said that steel is a deregulated sector, the role of the government is that of a facilitator providing a conducive policy environment
Web Exclusive Aug 11, 2013 Net profit of Gujarat Gas rises 91% Net profit of Gujarat Gas rose 91.2 percent to Rs 101.13 crore during Apr-Jun 2013 compared to Rs 52.88 crore in the year-ago period. Gujarat Gas is a subsidiary of GSPC Distribution Network (GNDL), which recently acquired 73.70 percent stake in the firm. Consolidated profit after tax (PAT) of the firm during the quarter stood at Rs 100.6 crore as against Rs 59.50 crore in the preceding quarter. It may be recalled that this is the first time the firm is reporting the consolidated profit afte