Business
|
|
|
| FM pegs fuel subsidy for current fiscal at Rs 20,000-Cr | | | | NEW DELHI, May 23 (Agencies): A day after agreeing to dole out a record Rs 100,000 crore in fuel subsidy for 2012-13, Finance Minister P Chidambaram today said cash payouts to oil firms this fiscal will be just Rs 20,000 crore.
At a meeting called by Prime Minister Manmohan Singh, the Finance Minister had yesterday agreed to give an additional Rs 45,000 crore on top of the Rs 55,000 crore already paid to oil firms for selling diesel, cooking gas (LPG) and kerosene at government-controlled rates.
"We have done our sums and this Rs 45,000 crore is being given yesterday on account but we do not expect any more claims from the Ministry of Petroleum and Natural Gas for 2012-13," Chidambaram told reporters here.
State fuel retailers had lost Rs 161,029 crore in revenues on selling diesel, do... |  | |
| | HSBC fined Rs 5.5 lakh for unfair trade practice | | | | NEW DELHI, May 22 (Agencies): A consumer forum here has imposed a fine of Rs 5.5 lakh on banking major Hongkong and Shanghai Banking Corporation (HSBC) Ltd for unfair trade practice of keeping its customer's already settled loan account outstanding and charging interest from him.
The New Delhi District Consumer Disputes Redressal Forum pulled up the bank saying that HSBC's act was not only "motivated by commercial gains", but also by a "malicious mind" to "settle scores" with the complainant, who was a former employee, for challenging his termination in a labour court.
"In our considered view, opposite party (HSBC) has not only been motivated for its commercial gains, but also by a malafide malicious mind to settle scores of litigation in labour court over his challenge of termination,"... | | |
| | J&K Bank targets 25% growth in loanbook in 2013-14 | | | | JAMMU, May 21: J&K Bank today said it intended to grow its loanbook by 25 per cent in this financial year, with a 30 per cent growth in loans from its home state, Jammu and Kashmir (J&K). In deposits, it plans 18 per cent growth, with a 20 per cent deposit growth in Jammu and Kashmir and 17 per cent outside J&K.
"J&K continues to be a focus area for us," Mushtaq Ahmed, chairman and chief executive told Business Standard on Monday. It also plans to maintain its net interest margin (NIM) in the range of four per cent, backed by the higher NIM in J&K, in the range of 6 per cent.
According to bank officials, in the state of J&K, low cost current account-saving accounts are a large part of the total deposits, resulting into higher NIMs. As of March 2013, 64 per cent of its total deposits ar... | | |
| | Aircel launches first FOFO store in Jammu | | | | JAMMU, May 21: In its commitment to offer best products and services available to its customers, Aircel, one of India’s leading telecom players, inaugurated its first FOFO (Franchisee Owned Franchisee Operated) store in Jammu.
Aircel plans to set up 200 such FOFO stores across Jammu & Kashmir by 2013. Setting up FOFO stores across J&K will expand Aircel’ s footprint across cities, towns and villages and widen its reach to a large customer base.
Speaking on the occasion, Sundeep Talwar, Circle Operations Head – J&K, Aircel, said, “Aircel is delighted to inaugurate its first FOFO store in Jammu. In J&K, we aim to consistently provide our customers with innovative and best value for money products and services. Opening FOFO stores across J&K will help us tap more customers and give them ... | | |
| | GMR to pay Rs 70 k to man who tripped on pipe at IGI | | | | NEW DELHI, May 21 (Agencies): A 67-year-old flier, who was injured after tripping over some construction material lying around at the IGI airport terminal, has been granted compensation of Rs 70,050 by a district consumer forum.
The South West District Consumer Disputes Redressal Forum observed that there was deficiency in service on the part of the airport authorities and GMR Group, which manages the Indira Gandhi International airport, as the passenger was hurt when he stumbled over a cast iron pipe while moving towards the immigration counter on his return from Dubai in August 2008.
"We find the complainant on his arrival from Dubai at IGI Airport was grievously hurt by a cast iron pipe lying there. It is apparently deficiency on the part of opposite parties (GMR and airport authorit... | | |
| | Stock Guru Scam: ED to attach accused couple's property | | | | NEW DELHI, May 21 (Agencies): The Enforcement Directorate (ED) is set to attach properties worth more than Rs 125 crore of the main accused in the Stock Guru scam -- Ullas Prabhakar and his wife -- under money laundering laws.
The agency has recently recorded the statement of the duo who are lodged in Tihar jail here in judicial custody.
The agency had registered a regular case under the Prevention of Money Laundering Act (PMLA) sometime back after the couple was arrested by Delhi police last year.
Flats of the couple in places like Mumbai, Hyderabad, Ratnagiri, Nagpur and few other cities besides other assets like fixed deposits and cash with a total value of a little more than Rs 125 crore will be attached and prohibitory orders will be used against their usage or operation by the c... | | |
|
|
|
|
| |
|
|
| |
|
|
| |
|
| |
|
| |
 |
Market Report |
 |
|
BSE
Sensex |
 |
|
NSE
Nifty |
| |
|
|
|
| |
| |
|
| |
| |
| |
|