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TOP BANKING AND FINANCE UPDATES- 14/04/2016

Growth can surpass 7.5 pc if monsoon forecast comes true: FM
Washington: India may grow faster than 7.5 pc GDP growth rate it recorded last yr if predictions of above-average monsoon rainfall come true, Finance Minister Arun Jaitley has said.

Credit downgrades jump marginally in FY16
Mumbai: The number of downgrades in credit rating of companies jumped marginally last fiscal, though it moderated from the highs of 2013-14, Care Ratings said today.

Tender for BPO scheme by end of this month: Prasad
New Delhi: Telecom Minister Ravi Shankar Prasad today said the government by the end of this month will float a tender for rural BPO scheme.

Modi for sci farming, processing to up farm income
New Delhi: Prime Minister Narendra Modi today pitched for value addition and use of scientific methods in agriculture to double income of farmers and making the country self sufficient.

Monica Malhotra Kandhari new MD of MBD group
New Delhi: Publishing house MBD Group today announced appointmemt of Monica Malhotra Kandhari as Managing Director (MD) and Sonica Malhotra as Joint Managing Director of the company.

'Lenders should earmark 15% funds for renewables'
New Delhi: Global financial bodies like World Bank should give a clear roadmap on funding to renewable energy for next five years and provide 15 per cent of their total funding for clean energy, said a senior official.

Shipping sect push won't get banks out : SBI
Mumbai: The ongoing thrust on the shipping sector will not help lenders with a revival in the asset quality, but can be of benefit over a longer period, State Bank of India chief Arundhati Bhattacharya today said.

Govt to mobilise Rs 1 lk cr investment in ports: Modi
Mumbai: Seeking Rs 1 lakh crore investment in developing sea ports, Prime Minister Narendra Modi today promised to personally handhold investors for a "safe, secure and satisfactory" berthing so as to transform country''s 7,500-km long coastline an "engine of growth".

FinMin plans to launch second CPSE ETF this fiscal
New Delhi: With the revamp of the existing CPSE ETF stuck in procedural hurdles, Finance Ministry is planning to launch a new Exchange Traded Fund (ETF) comprising stocks of 10 PSUs in the current fiscal.

"Banks told to calculate pension post 6% DR hike"
New Delhi: All banks have been asked to calculate revised amount of pension following the recent six per cent hike in Dearness Relief (DR), the Centre has said.

US criticises China's increasing repression
Beijing: The US has criticised China''s increasing "repression and coercion" of political activists, drawing a tit-for-tat reaction from the Communist nation which slammed America''s rampant violation of civil rights by excessive use of police force and gun-related crimes.

Hero Cycles patriarch Satyanand Munjal is no more
Ludhiana: Hero Cycles patriarch Satyanand Munjal, 99, passed away at his residence in Model Town here today, his family said.

US visa fee hike discriminatory, targeted at Indian IT cos: FM
Washington: India has expressed concern over the hike in visa fee by the US, saying it is "discriminatory" and largely affects Indian IT professionals.

Iran ends free oil shipping to India
New Delhi: Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees.

Australian town with cricket pavilion, lake up for sale
Melbourne: A picturesque town in Australia complete with a fishing lake, golf-course and cricket pavilion is up for sale and may fetch up to 13 million dollars, according to media reports.


Canara Bank to raise up to Rs 3,000 cr from bonds
New Delhi: Public lender Canara Bank plans to raise up to Rs 3,000 crore from bonds to augment capital base and fund growth.

FCI to raise Rs 20,000-cr short-term loan
New Delhi: State-run Food Corporation of India (FCI) has invited bids from the scheduled banks for raising short-term loan of Rs 20,000 crore for one month period.

PM pitches for Rs 1 lakh cr investment for port development
Mumbai: Pitching for making country''s 7,500-km long coastline an "engine of growth", PM Modi said India wants to mobilise Rs 1 L cr investment to enable port development.

US stocks jump as JPMorgan gives banks a big boost
New York: US stocks are climbing today afternoon. Banks, which have struggled this year, are making the biggest gains after JPMorgan Chase posted quarterly results that weren''t as bad as analysts expected. Industrial companies are rising on signs of strength in China''s economy.

India world's largest remittance recipient in 2015: World Bank
Washington: India was world''s largest remittance recipient in 2015 despite experiencing a USD 1bn from previous year, the first decline in its remittances since 2009, the World Bank said today.
TOP BANKING AND FINANCE UPDATES- 14/04/2016 Reviewed by Manohar Veera on 1:11:00 AM Rating: 5

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