India Business News

Micro-financing effective for reducing poverty: Selja

by sulekha news on Apr 17 2013 8:45PM IST

New Delhi, April 17 (IANS) The government Wednesday said micro-financing was an effective tool for reducing poverty.

Regulate development in Western Ghats, says panel

by sulekha news on Apr 17 2013 8:25PM IST

New Delhi, April 17 (IANS) Moving away from ecologist Madhav Gadgil's report calling for declaring the entire Western Ghats ecologically sensitive, a panel headed by Planning Commission member K. Kasturirangan Wednesday limited the area to 37 percent and sought a regulatory regime on development activities.

After SBI Life, Haryana blacklists ICICI Prudential

by sulekha news on Apr 17 2013 8:15PM IST

Chandigarh, April 17 (IANS) The Haryana government Wednesday announced that it has debarred ICICI Prudential Life Insurance Company Ltd from doing business with it and with agencies under it.

Risk capital fund for young entrepreneurs

by sulekha news on Apr 17 2013 7:55PM IST

Mumbai, April 17 (IANS) Young entrepreneurs from low income groups can now look forward to getting funds to start sustainable enterprises.

Infotech opens office in Silicon Valley

by sulekha news on Apr 17 2013 7:55PM IST

Hyderabad, April 17 (IANS) Infotech Enterprises, a global engineering solutions company, has opened its office in the heart of Silicon Valley in the United States.

Vodafone, ICICI Bank launch mobile wallet service M-Pesa

by sulekha news on Apr 17 2013 7:35PM IST

Kolkata, April 17 (IANS) Vodafone India and ICICI Bank here Wednesday launched M-Pesa, a mobile money transfer and payment service, in West Bengal, Bihar and Jharkhand. A nationwide rollout is expected within a year-and-a-half.

Haryana, Punjab wheat procurement crosses 25 lakh tonne

by sulekha news on Apr 17 2013 7:05PM IST

Chandigarh, April 17 (IANS) With stocks arriving in grain markets after the harvest festival of Baisakhi April 13, procurement of wheat in Haryana and Punjab has already crossed the 25 lakh-tonne mark, food and supplies officials of both states said Wednesday.

TCS profit rises 33.6 percent in 2012-13

by sulekha news on Apr 17 2013 6:15PM IST

Mumbai, April 17 (IANS) Tata Consultancy Services (TCS), the country's largest software exporter, Wednesday said its net profit increased 33.6 percent to Rs.13,917 crore for the financial year ended March 31.

Sensex closes in red; oil and gas, IT stocks plummet

by sulekha news on Apr 17 2013 5:55PM IST

Mumbai, April 17 (IANS) A benchmark index of the Indian equities markets closed in red Wednesday, after a smart rally the previous day, as losses in oil and gas and information technology (IT) stocks offset gains in auto, bank and metal stocks.

Ma Foi Connecting to raise $7 million private equity

by sulekha news on Apr 17 2013 5:35PM IST

Chennai, April 17 (IANS) City-based management consulting company Ma Foi Connecting Dots hopes to raise around $7 million from private equity and is open to acquire boutique consulting firm in the finance space, said a group official Wednesday.

'Centre, not states, responsible for PRIs'

by sulekha news on Apr 17 2013 5:35PM IST

New Delhi, April 17 (IANS) The main responsibility for effective devolution of functions, finances and functionaries to Panchayat Raj Institutions (PRIs) rests with the central government and not with the states, an expert committee has said.

Backing investment, Himachal says yes to Ford ski resort

by sulekha news on Apr 17 2013 5:09PM IST

Shimla, April 17 (IANS) The multi-billion high-end ski resort project, promoted by Alfred Ford of the Ford Motor Company, near Himachal Pradesh's resort town of Manali is expected to see the light of day after more than five years of logjams.

Pink Princie Golconda diamond creates record at auction

by sulekha news on Apr 17 2013 4:45PM IST

New Delhi, April 17 (IANS) A cushion-cut sparkler of a 34.65 carat pink diamond that originated from the ancient mines of Golconda in south India has been sold for$39,323,750, one of the highest prices for a privately owned diamond.

Goa unaware of quantum of illegally mined ore

by sulekha news on Apr 17 2013 4:25PM IST

Panaji, April 17 (IANS) The Goa government is unaware of the quantum of illegal ore mined from Goa in the last three years and the loss caused to the exchequer, Chief Minister Manohar Parrikar told the Goa legislative assembly Wednesday.

A bridge too far in Himachal Pradesh!

by sulekha news on Apr 17 2013 4:20PM IST

Shimla, April 17 (IANS) A bridge in Himachal Pradesh seems too far for over 34,000 people - in spite of Rs.21 crore spent on it, the Comptroller and Auditor General of India (CAG) has found.