India’s state-run banks were trading lower on fears that margins may be hit after some cut their base rate, reacting to a government directive to review lending rates after RBI’s deeper than expected cut in its policy rate on Tuesday.
Indians one of fastest growing Asian group in US
April 12th, 2012 
Malvika Asians are the fastest growing race group in the United States with Indians (3.2 million) making up the third largest Asian group after the Chinese (four million) and Filipinos (3.4 million).
India second in air traffic growth
April 9th, 2012 Ziaulla Namani In a report released by IATA India bagged second position in domestic air traffic growth in the world after Brazil, but the high growth hid the financial weakness facing the Indian carriers, global airline body the report has said.
Indian tops the first time property buyers list in Dubai
April 4th, 2012 Ziaulla Namani While Dubai remains a hot and one of the favourite destinations of Bollywood. It has definitely fascinated other strata of India as well..
As per the Dubai real estate data, No other national has purchased property to the tune Indains have in 2011.
As per the Dubai real estate data, No other national has purchased property to the tune Indains have in 2011.
Indians have topped the list of first-time property buyers in Dubai in 2011, having bought properties worth 2.1 billion dirhams (Rs 292 crore), Dubai Land Department data has revealed.
The Indians topped the list of new investors in Dubai properties and conducted 927 transactions worth 2.1 billion dirhams.
Muallim, an Islamic magazine, a platform to tap Indian Muslim
April 1st, 2012 Ziaulla Namani Maxim Media Pvt. Ltd. an Indian media house has announced to launch ‘Muallim’ a monthly English Islamic Magazine, which they claim will soon be a household name among the Indian Muslims who are well versed in English.
Mobile services revenue in India to reach USD 30 billion in 2016
March 29th, 2012 Ziaulla Namani India’s mobile subscriber base is forecast to reach 696 million connections in 2012, up nine per cent from 638 million in 2011, research firm Gartner said.
India’s mobile connections will exceed 900 million to achieve 72 per cent penetration by 2016.
Breather on overseas direct investments for India
March 29th, 2012 Ziaulla Namani The Reserve Bank relaxed various norms on overseas direct investments to offer more flexibility to the Indian companies and individuals.
“To grant more flexibility to the Indian party, it has been decided to further liberalise various provisions or regulations of overseas direct investments…” the RBI said in a notification.
“Proposals from the Indian party for creation of charge in the form of pledge or mortgage on the immovable or movable property and other financial assets of the Indian Party and their group companies may be considered by the RBI,” it said.
On bank guarantee for computation of financial commitment, the RBI said, “…the bank guarantee issued by a resident bank on behalf of an overseas JV or WOS of the Indian party, which is backed by a counter guarantee or collateral, shall be reckoned for computation of the financial commitment.”
Keeping in view the nature of the compulsorily convertible preference shares (CCPS), the RBI said, CCPS shall be treated at par with equity shares and the Indian party is allowed to undertake financial commitment based on the exposure to JV by way of CCPS.
Meanwhile, the RBI also relaxed various norms overseas investments by resident individuals as well.
“It has been decided to grant general permission to resident individuals various norms such as acquiring qualification shares of an overseas company for holding the director post, acquiring shares in a foreign company through ESOP scheme etc…” it added.
Source – PTI
Indian Exe. to have better salary than Asian peers
March 29th, 2012 Malvika Heads of Indian companies will have an average salary hike of 8.3 percent in 2012 against that of 8.4 percent in 2011, a study said.
Indian economy to become world’s largest by 2050
March 29th, 2012 Malvika India will be the largest economy of the world by 2050, according to the 2012 edition of the Wealth Report, launched today by Knight Frank and Citi Private Bank.
Indian E-com. market to grow to USD 260 billion
March 28th, 2012 Ziaulla Namani The domestic e-commerce market has the potential to grow between USD 125 billion and USD 260 billion by 2024-25, according to an industry report.
The report, ‘E-commerce: A boon for the current economic downturn’ by First Data Corporation and ICICI Merchant Services, says urban Indian consumers are now confident enough to make online purchases of up to Rs 25,000, from Rs 2,000-5,000 in the recent past.
Income tax dues of Rs 2.73 lakh crore in dispute
March 28th, 2012 Ziaulla Namani A tune to Rs 2.73 lakh crore of outstanding income tax dues are locked up in tax disputes at various levels, Parliament was informed.
“As on September 30, 2011, a net amount of Rs 3,50,000 crore approximately is outstanding as income tax dues, out of which Rs 2,73,000 crore approximately is locked up in tax dispute at various levels,” Minister of State for Finance S S Palanimanickam said in a written reply to the Rajya Sabha.
Indians confident about their economy
March 28th, 2012 Malvika According to a report, Indians have emerged as the second most confident people about their economy across the world on easing inflationary pressure and increased foreign investments.
RBI applies brakes to curb gold loan boom
March 22nd, 2012 Ziaulla Namani To curb growth of gold loans, the RBI directed non-banking finance companies in the business to restrict the loan size to 60 per cent of the value (called Loan-to-Value) of gold jewellery.
130 Indian B-schools on the verge of cluser
March 22nd, 2012 Ziaulla Namani The business of running business schools isn’t easy. Around 130 management institutes or 4% of all B-schools in India are expected to close shop this year, twice as many as last year, thanks to faculty shortage, lack of students, substandard curriculum and poor infrastructure
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India in most promising market list
March 22nd, 2012 Malvika According to the survey covering 1,600 business leaders from ten emerging and developed markets, India has emerged as the second most promising market after China in terms of maximum opportunity for rapid growth among emerging market economies.
