Raghuram Rajan warns of another global financial crisis..........

Reserve Bank of India Governor Raghuram Rajan has warned that the world economy could be heading towards a crash much like the Great Depression of the 1930s as advanced countries in a bid to pull out of the global downturn are working at cross purposes. He advocated greater coordination between the central banks of these countries so as to avert a replay of the 2008 financial crisis that the collapse of Wall Street firm Lehman Brothers...

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What Is IFSC ?

                                  INDIAN FINANCIAL SYSTEM CODEIFSC is an alpha-numeric code that uniquely identifies a bank-branch participating in  the NEFT system.This is an 11 characters code.FIRST 4th  alpha characters representing --- BANK NAMEThe 5th characters is --- ZEROThe last 6th characters representing --- BRANCH CODE In future when the number of branches increase, zero will be replaced an other numbers...

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Green signal for FDI in railway infrastructure

FDI is now allowed in all areas of Railways, except operations Ahead of Prime Minister Narendra Modi’s visit to the US, the Cabinet has cleared a proposal to allow 100 per cent foreign direct investment (FDI) in Indian Railways. Two American companies — GE and EMD — have been shortlisted for a proposed diesel locomotive factory to be built in Bihar. Now, except for Indian Railways’ operations, FDI can be brought into all special purpose vehicles, companies and joint ventures as an equity infusion, explained sources. The existing Department...

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SEBI gets powers to clamp down on fraudulent deposit schemes

Lok Sabha passes Securities Laws Bill Finance Minister Arun Jaitley   The Securities and Exchange Board of India (SEBI) will now have explicit powers to disgorge — recover — the illegal gains made through fraudulent deposit schemes and capital market offences. The assets recovered will be paid back by the market regulator to people who had lost their money in such schemes. The Securities Laws (amendment) Bill, 2014, which was...

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Sierra Leone declares emergency

Medecins sans Frontieres (MSF) staff put on their protective gear before entering an isolation area at the ebola treatment centre in Kailahun, Sierra Leone.— File Photo: Reuters Sierra Leone leader Ernest Bai Koroma declared a state of emergency on Thursday as the country struggled to contain the deadly ebola epidemic. The impoverished country, along with neighbouring Guinea and Liberia, is struggling to contain an epidemic that has...

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‘India can achieve manufacturing growth of 12-14%’

India has the capability to achieve 12-14 per cent average manufacturing growth over the next 10 years backed by the talent it has to drive innovation and critical decision it can take at the micro and enterprise level, said Ajay Shankar, Member Secretary, National Manufacturing Competitiveness Council, here on Thursday. Mr. Shankar was speaking at the Visionary Leadership for Manufacturing Programme (VLMF), an initiative organised by the Confederation of Indian Industry (CII) to transform the manufacturing industry. “In the past few...

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