As not a single dollar has flown in since the opened the doors to FDI in the retail sector, the government on Thursday tried to woo overseas investors by further relaxing investment norms in multi-brand retail, apart from raising the cap on foreign direct investment (FDI) caps in several sectors. The Cabinet has diluted
Pushed to a corner by the liquidity tightening measures by the Reserve Bank recently to salvage the rupee, which lost close to 12 per cent this fiscal so far, leading private lenders which are facing tight liquidity such as HDFC Bank and Axis Bank have raised fixed deposit rates by up to 4 percent, a
A major crisis erupted at the National Spot Exchange on Thursday after the Jignesh Shah controlled commodities bourse suspended most trades on its platform, prompting the government to order an enquiry by the commodity regulator FMC, while Sebi also began a separate probe amid a crash in shares of two listed group companies. The
In a complete U-turn, Bengal chief minister Mamata Banerjee on Thursday desparately tried to bury her past spars with the country's biggest industrial group the Tatas and other industrialists that marred her image, by claimeing that investment climate in the state is better now. She met top industry leaders,including Reliance Industries Mukesh Ambani here this
Following the recent Supreme Court order, the Election Commission has convened an all-party meeting on August 12 to frame guidelines on 'freebies' in election manifestos. Last month the apex court had said there is no enactment that directly governs the contents of the election manifesto. The EC has sought the opinion of various political
The Russian administration on Thursday disregarded the strong protests and lobbying from the US and offered a one-year asylum to the fugitive US intelligence leaker Edward Snowden, who left the Moscow airport where he was marooned for five weeks.Snowden slipped out of the Sheremetyevo airport in Moscow in a cloak-and-dagger operation overseen by his Russian
Despite the damming order passed by the Bombay High Court earlier this week that declared the BCCI probe into the IPL spot-fixing scandal "illegal", and the board vice-president calling for a fresh probe into the entire issue, a shamelessly defiant N Srinivasan has decided to chair the working committee todays in the Capital, signalling his
Following the government decision to bifurcate Andhra Pradesh and create a separate state called Telangana, similar demands spread to other rejoins like Assam, Bengal and UP. While two persons were killed in police firing in Assam as violence escalated in the agitation demanding a separate Karbi Anglong state in Assam, the long pending demand
After securing a political backing from an all-party meeting, the government on Thursday decided to protect all political parties from the ‘anti-democracy law’ that the RTI has become for the politicians, by amending the Right to Information (RTI) Act to keep political parties out of its ambit. The decision to change the transparency