Services sector activity in India expanded for the second consecutive month in October, driven up by rising new orders -- the fastest pace since June -- amid positive demand conditions, says a monthly survey. The Nikkei India Services PMI Business Activity rose to 51.7 in October, from 50.7 in September, indicating modest growth in the sector, as the reading remained below the long- run series
Steps like streamlining taxation together with proper implementation of incentive system together with healthy competition among states to attract domestic and global investors will help India achieve the target of breaking into top 50 in the World Bank’s Ease of Doing Business Rankings, Union Minister of State for Commerce and Industry, C.R. Chaudhary said at an ASSOCHAM event held in Ne
The Prime Minister, Narendra Modi, will inaugurate World Food India 2017 today from Vigyan Bhavan New Delhi, according to a statement released by Ministry of Food Processing Industries. World Food India is the most anticipated international mega food event, as India welcomes to host biggest ever congregation of global investors and business leaders of major food companies from 3-5 November in N
Former RBI governor Raghuram Rajan said the US Treasury should not label India as a "currency manipulator", as the country needs to build forex reserves to protect the economy from surge in outflows, reported PTI. Rajan, currently a professor at University of Chicago Booth School of Business, further said India runs a current account deficit, which could get larger on rise in crude oi
The finance ministry said it cleared two foreign direct investment (FDI) proposals of Rs 24.56 crore in October, reported PTI. The proposals included that of Sterling Commerce Solutions India which sought approval for issue of shares to the shareholders of three wholly-owned subsidiaries of IBM India Pvt Ltd upon their merger with the applicant, Finance Ministry said in a statement issued. The
Prime Minister Narendra Modi will on Friday inaugurate World Food India 2017, the biggest congregation of global investors and business leaders of major food companies, an official statement said.
Organised by the Food Processing Industries Ministry here, the three-day event aims to transform food economy and realise the vision of doubling of famers' income by establishing India a
With people feeling the pinch after tomato prices soared to Rs 100 per kg, an "on-demand hyper-local transport and logistics app" Jugnoo has offered to make doorstep delivery of tomatoes at just Re 1 per kg.
With its "Tomato Loot" initiative, Jugnoo has offered to deliver tomatoes at only Re 1 per kg for one week (November 3 to 10).
Samar Singla, CEO and
The State Bank of India (SBI) has deployed Microsoft Office 365 to improve communication and collaboration among its workforce.
This is one of the largest deployments of Office 365 in India, spanning SBI's countrywide network of 23,423 branches, enabling 263,000 employees and servicing more than 500 million customer accounts.
"We are excited about our partners
In the month of October 2017, the Department of Economic Affairs has disposed of three FDI proposals aggregating to foreign investment of Rs 24.56 crore, according to a data released by the Ministry of Finance. According to the Finance Ministry, the Department of Economic Affairs approved two proposal, including Sterling Commerce Solutions India’s Rs 24.56 crore proposal for issue of shar
Labour minister Santosh Gangwar has said that the Government is sincerely working towards creating new avenues for jobs and self-employment in the country. Commenting on the issue, Labour minister Santosh Gangwar told the media, "The central government is sincerely working to create new avenues of employment and self-employment."
He said that the Centre has recently "de
The Central Board of Direct Taxes (CBDT) has signed seven more advance pricing agreements (APAs) with Indian taxpayers as it looks to reduce litigation by providing certainty in transfer pricing. The seven APAs signed over the last month pertain to sectors like FMCG, semi-conductor, information technology, travel and leisure, office furniture and engineering.
"The Central Board o
The Reserve Bank of India today fixed the reference rate of the rupee at 64.5930 against the US dollar and 75.2831 for the euro. The corresponding rates were 64.5256 and 75.0755, yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.7860 and 56.72 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quo
The Competition Commission of India (CCI) has imposed a monetary penalty of Rs 4,78,545 on the All Kerala Chemist and Druggist Association (‘AKCDA’) for indulging in the anti-competitive practice. The commission found the All Kerala Chemist and Druggist Association (‘AKCDA’) and its District Units at Thrissur and Kasargod to be in contravention of the provisions of the C
India's largest lender State Bank of India (SBI) on Thursday announced reduction of interest rates on home and automobile loans by five basis points (bps).
In a statement issued here the bank said, it has reduced home loan interest rates to 8.30 per cent.
Similarly, automobile loan is now offered at a starting interest rate of 8.70 per cent per annum compared to ea
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for introduction of a Bill in Parliament to amend the National Council for Teacher Education Act, 1993 to grant retrospective recognition to the Central/State/Universities who are found to be conducting teacher education courses without NCTE permission.
“The amendment seeks to grant retrospectiv
A Nomura report has said that India's current account deficit (CAD) for this financial year is expected to be around USD 40 billion, or 1.5 per cent of GDP. As per reports, India's current account deficit (CAD) rose sharply to USD 14.3 billion -- 2.4 per cent of GDP -- at the end of first quarter of 2017-18. According to the Japanese financial services major, July-September CAD is expec
The presence of foreign banks in India declined in terms of number of branches and employees during 2016-17, while the number of overseas branches of Indian banks increased but there was marginal reduction in their employee strength, reveals a report released by the Reserve Bank of India. The Reserve Bank on Wednesday released the results of the 2016-17 round of the survey of international trad
A series of reforms will help India surpass China in World Bank's 'ease of doing business' ranking in the next two years, a research report by SBI said as per the PTI. India has jumped 30 places to rank 100th in the World Bank's latest report on ease of doing business. Among the BRICS countries, India is ranked 4th in ease of doing business index.
Compared to China, wh
The government has decided to designate the humble "khichdi" as the national dish to popularise it in global markets for commercial promotion.
During the World Food India conference, well-known chef Sanjeev Kapoor will attempt to create a world record by preparing 'Brand India Khichdi' using 800 kg of grains in a giant kadhai (wok).
The conference will be h
The Assam government on Wednesday signed MoUs with its Singapore counterpart for skilling over 78,000 rural youths in the state by 2019 and greening Guwahati.
The Memorandums of Understanding (MoUs) and Terms of Reference (ToR) for setting up the North East Skills Centre (NESC) and Greening Guwahati City was inked in the presence of Chief Minister Sarbananda Sonowal and Singapor
The State Bank of India (SBI) on Wednesday announced a donation of Rs 1.2 crore to the Queen Mary's Technical Institute in Pune for upgrading its training infrastructure for disabled soldiers.
The SBI's local Head Office and the Indian Army signed an MoU on Tuesday in Mumbai to ensure end-use of the amount.
The QMTI - an associate of the Indian Army - will also use t
As per the Official data, nearly 17 lakh companies had been registered in India as of last month, out of which a little over 5.32 lakh entities had closed down. The corporate affairs ministry data showed that there were 11.27 lakh active companies as of September while the count of active Limited Liability Partnerships (LLPs) stood at 1.03 lakh. The total number of companies registered in the c
Finance Minister Arun Jaitley has said that he will continue reforms that will help break India into top 50 nations of ease of doing business ranking. According to the World Bank, India's rank on 'ease of doing business' scale has risen from 130th to 100th this year, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution.
A top US-India business advocacy group has said that India's improved position in the World Bank's ease of doing business ranking will help the country attract more FDI. Commenting on the issue, Nisha Desai Biswal, the new head of the US-India Business Council (USIBC) told the media, "This is a significant movement and a very important barometer of India moving the right direction
In robust support to New Delhi's Act East Policy that aims at greater engagement with Southeast Asia, Singapore has strongly pitched for greater aviation, maritime and digital connectivity between India and the 10-member ASEAN.
"India will have to engage more and not less with southeast Asia," Singapore Foreign Minister Vivian Balakrishnan said at this year's S