Gain From Low Crude Prices Being Used for Infra Development: Jaitley

New Delhi: Under attack for not passing on benefits of fall in crude prices to consumers, Finance Minister Arun Jaitley on Monday said the savings are being used for developing infrastructure to push growth and create jobs besides enabling oil marketing companies meet their losses that once stood at Rs….

Bullion Strike Continues As Finance Minister Refuses To Budge

New Delhi: The protest by gold and jewellery traders entered the 14th day today even as Finance Minister Arun Jaitley rejected demands for rollback of one per cent excise duty on non-silver jewellery. Jewellers across the country have been protesting against the proposed excise duty on non-silver jewellery items as…

Review Investment In Non-core Business: Government To Banks

New Delhi: The government has advised PSU banks to review their investments in different non-core banking activity and take suitable necessary decisions with regard to disinvestment in existing ones, Minister of State for Finance Jayant Sinha informed Parliament. Banks have also been asked to review investments with regard to existing…

Government Warns PSU Banks Against Purchase of Costly Staff Cars

New Delhi: The Finance Ministry on Tuesday warned public sector banks against purchase of “high value” staff cars, some of which are then sold to officials at a depreciated price. “…it has been pointed out by the Vigilance Commission that banks are purchasing high value cars/vehicles,” the ministry’s Department of…

HealthCare Global Raises Rs 292 Crore From Anchor Investors

New Delhi: Ahead of its IPO, cancer-care network operator HealthCare Global Enterprises (HCG) has raised Rs 292 crore through issuing of shares to 11 anchor investors, including International Finance Corporation. HealthCare Global Enterprises has allotted 1,34,10,000 equity shares at Rs 218 per share aggregating to Rs 292.34 crore to 11 anchor investors, the company said…

Emerging Debt Swelled $1.6 Trillion In 2015, Poses Risks: Report

London: Total debt in emerging markets grew by dollar 1.6 trillion in 2015 to more than dollar 62 trillion, the Institute of International Finance said on Wednesday, warning that higher indebtedness raised repayment risks and endangered future economic growth. The Washington-based group, one of the most authoritative sources of data…