Business

Multilateral institutions like the IMF need to re-examine "rules of the game" but central banks should not ignore international responsibilities despite their domestic mandates, RBI Governor Raghuram Rajan has said.

The rupee commenced lower at 63.78 per dollar from last close of 63.72 at the Interbank Foreign Exchange market on Tuesday and immediately touched a low of 63.81 on initial demand for the American currency from banks and importers amid downward correction...

A Financial Services Cell has been created in the Railway Ministry to focus on resource mobilisation aspect.

The rupee shed 21 paise to hit a four-month low of 63.77 against the US dollar in early trade.

Modi, who flew down to this German city after his two-day visit to France, also unveiled a bust of Mahatma Gandhi at the City Hall.

The cut in interest rate on home loans, with effect from Monday, is higher than the reduction of 0.15 per cent in base rate that came into force on April 10.

The CM also announced setting up an "Innovation Fund" to promote such activities.

The benchmark Sensex on Tuesday inched lower by about 18 points to close at 27,957.49, wrapping up 2014-15 with hefty 25 per cent gain -- its best performance in six fiscal years -- buoyed by foreign investments after the Narendra Modi-led government took...

IAG currently owns 26 per cent of SBI General Insurance, with SBI, India's largest lender, holding 74 per cent.

The rupee had snapped its seven-day winning spree by slipping seven paise to close at 62.33 against the dollar in Wednesday's trade.

The 30-share barometer, which rose 298.67 points in the previous session, gained 70.59 points, or 0.24 per cent, to 28,806.97 in early trade.

The rupee gained 9 paise to 62.72 against the dollar in early trade at the Interbank Foreign Exchange.

Market has turned volatile ahead of the Fed decision, the RBI's policy next month and company earnings for the March quarter, stock brokers said.

The passage of the bill represents a rare victory for Modi, who was elected last May on a promise of jobs and economic growth.

Earlier last week, RBI had said that it will soon put into circulation one rupee currency notes and would be legal tender as provided in The Coinage Act 2011.

The US continues to be the top defence exporter followed by Russia, France and the UK, the ranking unchanged from 2013, the information agency said in its annual defence report.