ECONOMY NEWS

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Indian stocks edge higher in lackluster trade; ITC up 3%

Govt extends deadline for linking Aadhaar with bank a/c  -   13/12/2017 18:40
T he government on Wednesday extended deadline by three months till March 31, 2018 for linking of Aadhaar number and Permanent Account Number to various schemes. Earlier, the deadline for linking the 12-digit unique identification number with both Permanent Account Number (PAN) and bank accounts was December 31, 2017. “After considering various representations received and inputs received from ba...
Govt working to strengthen banking system, says PM  -   13/12/2017 17:52
T he Prime Minister Narendra Modi has said that the Union Government is working to strengthen the banking system. “The issue of NPAs is a legacy received by the current Government, said PM while addressing the inaugural session of the 90th Annual General Meeting of FICCI. He said rumours are now being spread about the Financial Regulation and Deposit Insurance (FRDI) Bill. He said the Government...
Bad loans to banks by UPA regime a big scam, says Modi  -   13/12/2017 17:25
P rime Minister Narendra Modi today launched a blistering attack on the previous Congress- led UPA regime, saying that banks were pressured to give loans worth thousands of crores of rupees to select industrialists in a scam bigger than 2G, coal and Commonwealth Games scams. Speaking at the 90th AGM of industry association Ficci, Modi said the non performing asset (NPA) or bad loans problem is a "liabili...
Banks yet to pay CITs Rs 25 cr for note ban period, says CLA  -   13/12/2017 15:20
M ore than a year after the note ban, Cash in Transit (CIT) companies are waiting for payment of about Rs 25 crore from banks for their additional services rendered during the period, CLA said today. The Cash Logistics Association (CLA) Secretary General U S Paliwal said that these companies provided additional services for evacuating old Rs 500 and Rs 1,000 notes from ATMs across the country and recalib...
RBI sets rupee reference rate at 64.4525 against US dollar  -   13/12/2017 15:10
T he Reserve Bank of India today fixed the reference rate of the rupee at 64.4525 against the US dollar and 75.7768 for the euro. The corresponding rates were 64.4834 and 75.9292, as on Dec 12, 2017. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.9410 and 56.87 per 100 yens, respectively, based on reference rates for the dollar and cross-currency q...
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