Arun Jaitley underlines need to contain inflation, boost growth

New Delhi: Attributing the present monetary woes to a "decade of jobless growth", Finance Minister Arun Jaitley Sunday underlined the need to hold price rise and rush financial reforms to increase low-cost developed.

"Reviving the expansion impetus, containing price rises and varying the prototype of enlargement to profitable employment is today an superseding main concern," he said in his Facebook post summing up his one week in office.

RBI governor Raghuram Rajan meets Narendra Modi

New Delhi: Ahead of financial policy evaluation on Tuesday, Reserve Bank Governor Raghuram Rajan Sunday called on Prime Minister Narendra  Modi and is probable to have discussed the macro-economic circumstances and issues connected to value increase.

The RBI's bi-monthly strategy evaluation on June 3 will be the first after Prime Minister Narendra Modi unspoken office on May 26.

RBI cautions public against fake website

Mumbai: The Reserve Bank on Monday cautioned the public not to fall quarry to bogus offers made by a false website in its name donation savings accounts.

"It has come to the perceive of the RBI today that a false website has been shaped at
http://www.Rbi-inonline.Org/savings.Html by some unknown persons offering various banking amenities and asking members of public to be valid online for breach 'RBI Savings Account'.

SEBI clears Diageo's open offer worth Rs 11,448.91 cr for USL

New Delhi: worldwide fluid giant Diageo Plc has established market regulator SEBI's permission for an open offer to obtain extra 26 percent stake in United feelings Ltd for Rs 11,448.91 crore.

This is the subsequent open offer made by Diageo to gain best part manage in India's number one fluid hard.

As part of the contract to buy 53.4 percent wager in Vijay Mallya-led UB group's USL, Diageo has made a Rs 11,448.91 crore open offer for pay for of 26 percent wager in the company from non-promoter shareholders.

The open offer, which was complete last month, has been now empty by the Securities and Exchange Board of India, according to a public announcement.

FY'14 CAD narrows to 1.7% of GDP at $32.4 bn

Mumbai: Helped by a sharp restraint in imports, particularly of bullion, India's current account deficit (CAD) sharply pointed to 1.7 percent of GDP, or USD 32.4 billion, in FY'14 from 4.7 percent in FY'13, Reserve Bank said Monday.

"Contraction in the deal shortage, attached with a increase in net invisibles' receipts, resulted in a lessening of the CAD to USD 32.4 billion, or 1.7 percent of GDP, from USD 87.8 billion, or 4.7 percent of GDP in 2012-13," it said.

For the March sector, CAD, a calculate of the inflow and loss of foreign currency, stood at USD 1.2 billion, or 0.2 percent of GDP, as beside USD 18.1 billion, or 3.6 percent of GDP, in the same epoch previous fiscal, the RBI said.