The ministry in a letter dated May 15 overruled Petroleum and Natural Gas Regulatory Board's de-recognisation of Indraprastha Gas Ltd, saying IGL was government's authorised entity for city gas projects in Delhi, NOIDA, Gurgaon and Faridabad. PNGRB had asked IGL,
As Indians become wealthier they are spending more to stage elaborate multi-day events leading up to the ceremony. India's $31bn wedding industry is growing at 25 per cent a year, according to a report in the Indian magazine The Week.
The index touched a day's high of 17,293 in noon deals. The Sensex finally ended with a gain of 13 points at 17,243. The market breadth was positive - out of 2,795 stocks traded, 1,710 advanced, 1,009 declined and 76
In its annual report for the year 2007-08, the company said it has engaged Hewitt Associates, which has significant experience in dealing with best employers programmes, to work with the management in rolling out a major company-wide initiative. The global
Peninsula Land, the property development arm of Ashok Piramal Group, today announced its foray into the hospitality sector with a joint venture with textile maker and real estate developer Arrow Webtex. The JV will develop business hotels across the country.The
UK based Sun Group has firmed up plans to invest Rs 550 crore in the real estate sector of Punjab. "Initially, the company would set up multi facility project which will involve setting up of hotels, multiplexes and malls in
Milestone Capital Advisors, an independent venture fund with focus on real estate, has decided to invest up to Rs. 1,200 crore out of its total domestic outlay of Rs. 2,250 crore for affordable and green housing and warehousing in Tamil
Some things make the Reserve Bank of India (RBI) paranoid. The invasion of foreign money in the Indian property market has always been a familiar theme that rang alarm bells on Mint Street — the central bank's headquarters.Whenever it sensed
The country's premier food grain procuring agency Food Corporation of India, plays a critical role in maintaining adequate buffer stocks, ensuring that enough food grains are available for the public distribution system and national food security as a whole.
Under attack for freezing farm loans, State Bank of India on Tuesday said it would start lending for tractors and agri-equipment again ''as and when'' its non-performing assets in the segment come down.
Days before its meeting with the parliamentary standing committee on civil aviation, the Planning Commission, in a project appraisal letter to thefinance ministry, has backed the AAI proposal for the modernisation of the Kolkata airport but reiterated its stand, including
Around 60% of panellists anticipate a rise in activity at their company in the coming year, compared with just 2% that expect a decline. Positive sentiment was most widespread amongst Indian firms.
The combined entity would have a network of 1,167 branches, a strong deposit base of around Rs 1,22,000 crore and net advances of around Rs 89,000 crore. After the amalgamation, all the branches of Centurion Bank of Punjab will function
The 50-issue Nifty moved in a range of 5,160.05 and 5,072.40 before concluding the day at 5,104.95, a fall of 1.02 per cent over previous close of 5,157.70. Banking counters suffered the most on expectation of further strong measures by
Indian mutual fund assets are forecast to continue their meteoric rise and will more than double over the next five years on the back of strong economic growth, more mature financial markets and a highly competitive distribution system.
India's traditional commodity brokers, the ahratiyas, had often colluded to cheat farmers out of the proper prices for their produce, according to the report by the committee on financial sector reform headed by Raghuram G Rajan, a former chief economist
Foreign direct investment into India has surged to over $25 billion in 2007-08 and the country's foreign exchange reserve crossed $341 billion as of Tuesday, Ashwani Kumar, minister of state for commerce and industry has said.
India's Kotak Mahindra Bank, the former local partner of Goldman Sachs (NYSE:GS) , has become one of the first financial groups in the country to take steps towards seeking overseas acquisitions.
Banks should know that their conduct would adversely affect the faith of the public in banking institutions, a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari while dismissing Bank of India's appeal against a construction company observed. In the present
Indian firms, including Tata Steel, in the past have formed SPVs to acquire foreign companies to protect local operations and also to avoid legal hindrances. The SPV may be registered in a tax-haven country, like Mauritius or Bahamas, the sources
