Security Printing & Minting Corporation of India Ltd. (SPMCIL) has achieved all the targets with regard to production of Bank Notes, Coins, Security Products (Passports, NJSPs, Postal Products and other Security Products) and production of the Raw Materials (Security Inks and Security Paper) during the year 2012-13. It has not only met with the original

IL&FS Infra Asset Management Limited (IAML), an Asset Management Company (AMC) promoted by IL&FS Financial Services Limited (IFIN) to manage the IL&FS Infrastructure Debt Fund (IIDF), signed a Memorandum of Understanding (MoU) with eight (8) Public Sector Banks (PSBs) including Allahabad Bank, Bank of India, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas

Following is the text of the Prime Minister, Dr Manmohan Singh’s speech at the Inaugural Session of the 46th AGM of the Asian Development Bank today:
“On behalf of the Government and people of India, I warmly welcome you all to the 46th Annual Meeting of the Board of Governors of the Asian Development Bank. I

Government announces each season minimum support prices for major agriculture commodities to ensure remunerative prices to the growers taking into consideration the relevant factors including the cost of production and changes in the input prices and organizes purchase operations through public and cooperative agencies. Besides, to raise farm income and to improve agriculture production and

The current account deficit (CAD) as per cent of GDP during the last five years are given below:

Years
Current Account Deficit as per cent of GDP

2007-08
1.3

2008-09
2.3

2009-10
2.8

2010-11
2.7

2011-12 (Up to December 2011)
4.0

The CAD is financed by capital account surplus and drawdown of foreign exchange reserves in case CAD exceeds capital account balance.  Capital

A provision of Rs 15,888 crore has been kept in the Union Budget 2012-13 for Capitalization of Public Sector Banks, Regional Rural Banks (RRBs) and other Financial Institutions including NABARD. Making the announcement during his Budget Speech in the LokSabha today, the Union Finance Minister ShriPranab Mukherjee said that government was also considering the possibility

The Government has adopted a multi-pronged strategy to extend banking facilities to hitherto unserved areas. Reserve Bank of India (RBI) in their Branch Authorization Policy for opening of Branches in unbanked rural centres, has advised all Scheduled Commercial Banks (SCBs) that while preparing their Annual Branch Expansion Plan, they should allocate at least 25 per

The Union Cabinet today approved the introduction of “The Export Import Bank of India (Amendment) Bill, 2011” to amend the Export – Import Bank Act, 1981 (the Act) in the Parliament.
The Bill seeks to increase the authorised capital of the Exim Bank from Rs.2000 crore to Rs.10,000 crore with the provision that the Central Government

Following is the text of Finance Minister’s speech at ASSOCHAM, Kolkata on 13-11-2011.
“It gives me great pleasure to be here in Kolkata and share my thoughts on a subject that has occupied centre stage since the outbreak of global financial crisis and its impact on economies around the world. I welcome this initiative of ASSOCHAM

Punjab National Bank (PNB) and MetLife India, an affiliate of MetLife Inc., announced Friday that PNB will be inducted as a joint venture partner in the company. The Board of PNB, in its meeting held on 28th July, accepted the offer made by MetLife India for acquiring 30% stake in the company.
The transaction is subject