Promoters pump in Rs.650 crore into RCom
Reliance Communications Ltd. (RCom) said it had received the first instalment of Rs.650 crore from its promoters Telecom Infrastructure Finance Private Ltd., towards preferential allotment of 8.67-crore warrants for a total consideration of Rs.1,300 crore. “The Rs.650 crore is equivalent to 50... read more »
EPFO settles 11 lakh claims in July, 43 lakh since April
Retirement fund manager EPFO has settled over 11 lakh claims, including transfer and withdrawal of provident fund, last month. “Employees’ Provident Fund Organisation (EPFO) has settled more than 11 lakh claims during July 2014. This has taken the cumulative total during this financial year to... read more »
Reserve Bank proposes ‘anytime anywhere’ bill payment system
The Reserve Bank of India (RBI), on Thursday, issued draft guidelines for the implementation of Bharat Bill Payment System (BPPS). The draft guidelines outline the requirement and the basic tenets of operating the BBPS, and prescribe the eligibility criteria, standards for settlement model and... read more »
Raghuram Rajan warns of another global financial crisis
Reserve Bank of India Governor Raghuram Rajan has warned that the world economy could be heading towards a crash much like the Great Depression of the 1930s as advanced countries in a bid to pull out of the global downturn are working at cross purposes. He advocated greater coordination between the... read more »
