The Finance Ministry is considering a proposal to rope in professionals from the private sector for appointment of chairman and CEO-cum-managing director in state-owned financial institutions as it looks for talent from a wider pool of applicants.
.jpg)
Banks had a tough time in recovering loans from corporates in 2014.
RBI has kept interest rate unchanged at 8 per cent since January
Prime Minister Narendra Modi on Wednesday said he has asked soft drink makers like Pepsi to try and mix aerated drinks with 5 per cent fruit juice to help distressed farmers find a new market for their produce.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
The central bank will have to draw a balance between the need to fuel economic growth and contain inflation.
Much to the delight of borrowers, home and car loan rates came down to as low as 8 per cent, the lowest in six years, during the year.
The government had first mentioned raising foreign direct investment ceiling in insurance sector to 49 per cent from the current 26 per cent in the 2004 Union Budget and introduced a Bill to do so over a year ago.
The pinnacle of a market economy is when the consumer feels like king. Never before have Indians had such a vast choice and for the icing on the cake, prices from kitchen goods to cars started falling in 2008.
Volatility in lending and deposit rates witnessed during the year is expected to end in 2009 with interest rates seen to be going down, due primarily to an easy monetary stance being pursued by the Reserve Bank of India to push growth.
Five major steel producers including SAIL, Tata Steel and Essar have decided to hold the price line for up to three months after an appeal by Prime Minister Manmohan Singh not to manipulate prices for short-term gains. India has said it will take measures to bring down steel prices, but would first wait to see if producers do it on their own. High steel prices are partly to blame for soaring inflation, which rose to 7.33 per cent for the week ended April 12.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances