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Petrol Prices Cut by Rs.2.16, Diesel by 2.10 From Today (May 16, 2017)

Following the global lead in falling fuel prices, the petrol prices in the country will see more than Rs.2 cut after almost six months of steep hike in the domestic ...

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Bangalore Techies in Panic as Recession Trends Begin to Show up

The news of recurrent firing in IT companies of Bangalore is not new but the latest thrust in news of almost all IT companies lining up their firing squads has ...

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Rating Agencies with ‘Poor Standards’? Questions India’s Chief Economic Advisor

India’s chief economic advisor Arvind Subramanian today lashed out at the functioning of the rating agencies in India for keeping India at a lower rating than China. Playing on the ...

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SBI Slashes Home Loan Interest Rates to 8.35%

India’s largest bank State bank of India on Monday slashed the lending rates for home loan interest rate to 8.35 percent, from its existing 8.6 percent. The other home loan rates ...

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Singh Brothers May Sell Fortis Majority Stake to TPG+GA Combine: Report

Erstwhile Ranbaxy brothers who had sold it for a whopping amount to a Japanese firm, are now planning to sell off majority of their stake in corporate hospitals chain Fortis ...

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Disinvestment of State-Owned 3 Major ITDC Hotels Begins

The Cabinet Committee on Economic Affairs on Wednesday approved the disinvestment of hotels of the India Tourism Development Corporation Ltd. (ITDC) to enable running and managing hotels on professional lines. ...

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Ujjivan Reports Decline in Profit Due to Non-Repayments Post-Demonetisation

Ujjivan Financial Services has reported 64.76% decline in its net profit which stood at Rs.19.35 crore in the quarter ended March 31, 2017. Last year, it reported a net profit ...

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New $50 Million Investment Fund Created by Water.org

WaterEquity, a WaterCredit Investment Fund 3 (WCIF3), with $50 million social impact investment fund, has been created by Water.Org to invest in enterprises serving water and sanitation needs among the ...

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IMF Brings Down India Forecast Post-Demonetisation

IMF Managing Director Christine Lagarde on Thursday said India growth forecast has been revised down to 7.2 percent for 2017 due to the impact of demonetisation, which had affected the ...

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New Lease of Life for Spandana Sphoorty Microfinance, Raises $270 Million

After 7 years of virtual hibernation, Hyderabad’s Microfinance lender Spandana Sphoorty Financial Ltd has raised $270 million of funding, to bail it out from the corporate debt restructuring cell (CDR). ...

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Inditrade Forays Into Wholly Digital Microfinance, Opens Solapur Branches

Microfinance is catching the attention of major investors ranging from Ratan Tata to Ananya Birla and now a fully integrated tech-based microfinance provider is appearing in the horizon promising only ...

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UP Govt Waives off Farmer Loans From Banks up to Rs.1 Lakh

The UP government under BJP has waived off crop loans taken from banks with a cap of Rs. 1 lakh for the fiscal year 2016-17. The ruling Bharatiya Janata Party’s ...

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Tax Collections Exceed Target, Thanks to Demonetisation

The total tax revenue targets of the revised estimates for 2016-17 for both Direct and Indirect Taxes was Rs. 16.97 lakh crore of which 8.47 lakh crore was for Direct ...

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Thos Gieskes Takes Over as MD of OikoCredit

Social investor Oikocredit has announced that Thos Gieskes  will take over as its new managing director from April 2017. Gieskes has worked in international business and finance, particularly in rural lending ...

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ADB Provides $32 Million to CreditAccess Asia

Asian Development Bank (ADB) last week signed a deal to provide $32-million credit to CreditAccess Asia (CAA), an Amsterdam-based microfinance holding company with operations in India, Indonesia and the Philippines. ...

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ICRA Cuts Outlook On Janalakshmi Microfinance to Negative

Ratings agency ICRA has cut the credit rating for Janalakshmi Financial Services Ltd (JFSL), from "A+" Positive to "A+" Negative in view of the impact of demonetisation and increasing non-performing ...

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Forget Happiness Index, Even Human Development Report Ranks India Very Low

The UN ‘Human Development Report 2016′, released on Tuesday by the United Nations Development Programme (UNDP), said the average human development improved significantly across all regions from 1990 to 2015 ...

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All Bank Cash Withdrawal ATM Limits Removed

After more than four months of agony and anxiety over demonetisation, the Reserve Bank of India on Monday removed the restrictions imposed on bank ATM withdrawals, bringing the situation back ...

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Mission Fingerling Allocated Rs. 520 Cr to achieve Blue Revolution

Recognizing the potential and possibilities in the fisheries sector, Indian government has unveild ‘’Blue Revolution’’ program to develop and manage fisheries for the socio economic development of the fishers and ...

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Microfinance Industry Upset with NO Waiver of Service Charges in Budget

budget

The Budget 2017 has received a mixed reaction from the microfinance industry that was worst-hit due to demonetisation. Though the budget was mainly rural-centric with several schemes and infrastructure for ...

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