State Bank of India is projecting a deposit growth of 25 per cent during the current fiscal compared to 14.85 per cent in 2012-13. "We are seeing a very good growth in deposits. We are looking at 25 per cent growth in deposits in the current fiscal. We have not yet decided on credit growth," SBI chairman Pratip Chaudhuri has said. Chaudhuri was speaking on the sidelines of the 5th ICC banking summit here this...........more

In connection with Cobrapost, Red Spider 2 Expose that was released today morning, the Secretary, Department of Financial Services Shri Rajiv Takru has asked the Chairman cum Managing Directors (CMDs) of various Public Sector Banks (PSBs) Including Allahabad Bank. Andhra Bank, Bank of Baroda, Bank of India ,Bank of Maharashtra, Central Bank of India, Dena Bank, Indian Overseas Bank, Punjab and Sind Bank, Punjab National Bank, UCO Bank, United...........more

  IT and software major Microsoft has emerged as India’s most attractive employer for the third straight year in 2013, according to a survey by HR service firm Randstad. The company was followed by Hewlett Packard and Google India in the second and third positions, respectively. Others in the top 10 most attractive employer list included —— IBM (4th), ONGC (5th), Sony (6th), Larsen & Toubro (7th), Steel...........more

  The Supreme Court on Monday "firmly" rejected Swiss drugmaker Novartis AG's demand for exclusive patent rights on cancer drug Glivec, ruling that the drug had failed in "both the tests of invention and patentability" under Indian law. The verdict in the case that was seen as a battle between research and innovation on one side and public health and affordability on the other boosts the prospect of...........more

Shri Subodh Kumar Agrawal, a fellow member of the Institute of Chartered Accountants of India (ICAI) with 24 years of standing has taken over as the new President of the Institute w. e. f. today. Shri K. Raghu has been elected as the new Vice-President of ICAI. Both later addressed a Press Conference and assured that the Institute will be ever vigilant in fulfilling the expectations that the society has from it.  Shri Agrawal has...........more

  As the squeeze tightened over grounded Kingfisher Airlines to pay up the dues of the government, lessors and service providers, its promoter Vijay Mallya today met Law Minister Ashwani Kumar apparently to discuss ways to deal with the situation. Mallya also visited the Prime Minister's Office at South Block but it could not be ascertained who he met inside, though there were unconfirmed reports of him having met Pulok...........more

The JET AIRWAYS group on Friday reported a net profit of Rs85 crore for the third quarter ended December 2012 on the back of higher fares and cost cutting measures. The airline had reported a net loss of Rs 101.22 crore in the same quarter last year. Improvement in the yields, decrease in costs has helped improve operating margins for the quarter despite a slowdown in traffic growth, higher fuel prices and impact of a weak rupee, the...........more

  Against the backdrop of some arrests over certain postings on social networking sites, Telecom and IT Minister Kapil Sibal on Friday said a provision in the Information Technology Act has been misused in some states and the Centre will soon issue an advisory to check it. "As per our assessment, there has been misuse (of Section 66A of IT Act) in some states...It is my personal opinion and also of Central Government that it...........more

  GMR Infrastructure today said that it will give more than $2.5 billion to Maldives over the concession period. Moreover, the Government will also receive another $1 billion through taxes and royalties. The company said that it cannot increase the charges in Male airport. At a press conference in Delhi, the GMR Group tried to rebut all issues as to why the Maldives Government decided to cancel the GMR-led consortium contract...........more

  The Supreme Court gave the Sahara conglomerate more time to repay billions of dollars it had raised from investors through bond sales that were later ruled to be illegal. The court ordered Sahara to initially deposit Rs. 51.20 billion with the SEBI and pay the remainder in two instalments in January and February. On August 31, the court had asked Sahara to repay within 90 days as much as 240 billion rupees...........more

  Looking to tap the Rs14,000 crore worth unorganised gold market in Haryana and Chandigarh, Reliance Money Precious Metals Pvt. Ltd. (RMPM), a Reliance Capital company, and the World Gold Council on Wednesday announced they would tie up with 10,000 jewellers in the region. Announcing their gold accumulation plan here, Reliance Money officials said that over 100,000 customers will be enrolled within one year. The '...........more

  Indian rupee gained against the greenback in morning trade on Thursday. Rupee was up by 8 paise or 0.14% against USD to Rs 55.03 compared to previous close of 55.11 (09.23 a.m.). In the spot market, the Dollar Index decreased 0.13% to 80.82 (22:43 ET). EURO- USD was trading at 1.28 up 0.12% while USD - Japanese Yen was trading at 82.44 down 0.10% (22:54 ET). At 09...........more

  Indian Bank recorded a 5.97 per cent rise in its net profit at Rs. 496.68 crore in the second quarter ended September 30, 2012, against Rs. 468.69 crore in the same period in the previous year. The rise was 6.50 per cent sequentially with the first quarter net profit at Rs. 461.74 crore. Addressing presspersons here on Saturday, T. M. Bhasin, Chairman and Managing Director, said the net interest margin was slightly lower at 3.2...........more

  A de-growth in its mainstay, the motorcycle segment, saw two-wheeler major Bajaj Auto report a marginal rise in its net profit at Rs.741 crore for the second quarter ended September 30, 2012, against the year-ago period. Sales declined by 4 per cent to Rs.5,139 crore selling 10 per cent fewer products at 1,049,208 units. Exports declined by 4 per cent to Rs.1,665 crore. Its operating profit fell 6 per cent to Rs.992 crore............more

  After failing to receive a response from Kingfisher Airlines on its show-cause notice issued on October 5, the Directorate General of Civil Aviation (DGCA) Saturday suspended its flying licence. The aviation regulator had given Kingfisher until Saturday to explain why its licence should not be cancelled. “The licence of Kingfisher has been suspended until further orders. The issue of dues between the airline and...........more