FACTBOX - Modi's reform agenda to revive economic growth in India
Published on Saturday, November 29, 2014 10:34 AM
NEW DELHI - India's economy lost momentum in the first three months of Prime Minister Narendra Modi's government, amplifying industry calls for faster and deeper economic reform.
Following is the status of key pending reforms:
FDI IN INSURANCE
India scraps 20 pct export rule for gold imports - TV channels
Published on Saturday, November 29, 2014 10:39 AM
MUMBAI - India has decided to scrap the rule that required trading companies to export 20 percent of gold imported, known as 80:20 scheme, local television channels reported on Friday, citing unnamed government sources. ...
The curb was imposed last year to bring down gold imports which had pushed India's cur
Sahara looks to raise $650 million loan to fund bail
Published on Saturday, November 29, 2014 10:42 AM
MUMBAI - India's Sahara conglomerate said on Friday it aimed to raise $650 million in loans to secure the release of its chief, in jail for nearly nine months over the group's failure to refund billions of dollars to investors in outlawed bonds. ...
Sahara, which owns the Grosvenor House in London and the
Growth slows less than feared, easing pressure for rate cut
Published on Saturday, November 29, 2014 10:44 AM
By Manoj Kumar ...
NEW DELHI - A slowdown in India's economy in the last quarter will increase calls for Prime Minister Narendra Modi to step up reforms but was less severe than feared, giving the Reserve Bank ammunition to resist government pressure to cut interest rates.
Gross domestic prod
After record deal, more India bank takeovers on cards
Published on Saturday, November 29, 2014 10:45 AM
By Devidutta Tripathy and Sumeet Chatterjee ...
MUMBAI - India is set for more banking acquisitions after a record $2.4 billion takeover last week ended four years of a deals drought, as lenders fight for market share and wider reach amid looming competition from a new breed of players.
India eases gold import rules in surprise move
Published on Saturday, November 29, 2014 10:47 AM
MUMBAI - India on Friday scrapped a rule mandating traders to export 20 percent of all gold imported into the country in a surprise move that could cut smuggling and raise legal shipments into the world's second-biggest consumer of the metal after China. ...
The so-called 80:20 import rule tying imports to ex
FACTBOX - India's smaller private sector banks
Published on Saturday, November 29, 2014 10:26 AM
MUMBAI - India could be set for more banking acquisitions after a record $2.4 billion takeover last week ended four years of drought, but restrictive rules, reluctant sellers and sometimes difficult unions mean a flurry of deals is unlikely. ...
Below is a profile of the smaller banks in the private sector, which
Economic growth slows to 5.3 percent in Sept quarter
Published on Saturday, November 29, 2014 10:23 AM
By Manoj Kumar ...
NEW DELHI - Data released on Friday showing a slowdown in India's economy will put the Reserve Bank under renewed pressure to cut interest rates, while Prime Minister Narendra Modi takes his time over reforms needed for a revival.
India's gross domestic product expanded
Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions
Published on Friday, November 28, 2014 4:59 PM
By Nidhi Verma ...
NEW DELHI - Essar Group, a $39 billion conglomerate, is looking to tap frozen Iranian oil revenues to pay for its steel exports to Tehran, in a novel attempt to work around Western financial sanctions against the OPEC member state.
The National Iranian Oil Company (NIOC) propos