“The RBI has obliged on the Government’s call to the Central Banker to support its growth agenda by cutting Repo rate by 25 basis points. An improvement in trade deficit, drop in core inflation, achievement of 5.2% fiscal deficit and slowing growth prompted RBI to act. Read more
Tag: Banking
Parliament’s Stromy Winter Session: UPA proposes Insurance, Banking Bills
From today Parliamentary Winter Session will start amid UPA is set to heat up key economic reforms Bills in sectors like insurance, pension and banking in Session, aiming to raise FDI limits.
As per Parliamentary Affairs Minister Kamal Nath, a total of 25 legislative proposals would go through before parliament in its upcoming session over a period of 29 days and 10 for introduction. And in that list, Banking Laws (Amendment) Bill, Companies Bill and Pension Fund Regulatory and Development Authority Bill, are included for passing. Read more
Nifty& Sensex breaches a 18-month high record
Union Cabinet’s meeting on second round of reforms of pension and insurance in FDI to 49% has raised the hopes in investors for more scope of investment and breaks the record with 50-share Nifty reaching 5,800 mark on Thursday.
Sensex is showing strong hopes that UPA will bring more FDI Caps in Insurance and Pension as well as Infrastructural sectors along with approval of Bills today, bringing more opportunity in PSU banking, auto sector, civil aviation and infrastructure sector. Read more
Airtel & Axis Bank ties-up to provide mobile banking services
India’s top mobile phone operator Bharti Airtel, earlier has charged under ED scanner for money laundering, announced its partnership with Axis Bank to offer Airtel mCommerce banking and payment services to India’s customers.
Introducing its subsidiary’s plan, the company said, “No-frills savings account of Axis Bank will be opened for customers on the Airtel Money platform called Airtel Money Super Account powered by Axis Bank, offering customers banking transactions, including cash deposit, money transfer and withdrawal.” Read more
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