Category: South Asia

JAMMU, March 23 (Asia Pulse) – The Reserve Bank of India asked banks to comply with the prescription of opening at least 25 per cent of new branches in a year in unbanked areas with a population less than 10,000. “At RBI we have said at least 25 per cent of all the branches opened […]

NEW DELHI, Mar 23 (Asia Pulse) – Sanction-struck Iran is looking to import four major farm commodities — wheat, rice, sugar and tea — from India, an export body FIEO said. “They (Iranian traders) want to import four major agri commodities from India. They are wheat, sugar, tea and rice,” Federation of Indian Export Organisations […]

NEW DELHI, March 22 (Asia Pulse) – The Reserve Bank of India said the global financial crisis has impacted India significantly despite its sound banking system and negligible exposure of banks to sub-prime assets. “The global financial crisis impacted India significantly, notwithstanding the sound banking system, negligible exposure of banks to sub-prime assets and relatively […]

NEW DELHI, March 21 (Asia Pulse) – Service tax exemption on advertising on media platforms, excluding TV and radio, could result in availability of up to Rs 1,500 crore (US7 million) more to advertisers for spending on campaigns, according to industry experts. “Given that marketing budgets of companies always take into account the service tax […]

HYDERABAD, March 19 (Asia Pulse) – India will require 1,043 new passenger and cargo aircraft valued at US5 billion between now and 2030, according to a market forecast by aviation major Airbus. Of this, 1,020 will be passenger aircraft and 23 cargo. Indian market for new aircraft is the world’s fourth largest in both number […]

NEW DELHI, (Asia Pulse) – Rating agency Fitch said that India’s partial lifting of a ban on cotton exports has led to uncertainty over prices and time of purchasing of the natural fibre by the domestic textile companies. “This uncertainty on cotton price movements could over the long term increase raw material price risk and […]

NEW DELHI, March 15 (AsiaPulse) – Two Dubai-based Iranian private traders have defaulted on payment of Rs 184 crore (US$36.8 million) to nine Indian rice exporters, Parliament was informed Wednesday. There have been payment issues between India and Iran after sanctions imposed by the US. Iran mainly imports basmati rice from India. “Embassy of India, […]

NEW DELHI, March 14 (AsiaPulse) – India’s Department of Telecommunications plans to start auction of 2G spectrum by December 20 and allocate spectrum to players in March next year. “We will need time at least till December 20 to start auction of spectrum. There are various processes before it and will have to stick to […]

NEW DELHI, March 8 (AsiaPulse) – Chennai-based Tractors and Farm Equipment Ltd (TAFE) has entered into an alliance with Captain Tractors Pvt Ltd (CTPL) to develop and manufacture compact tractors in the sub-20 horsepower segment. “Through this alliance, TAFE aims to offer a complete range of products to the farming community of India,” TAFE Chairman […]

NEW DELHI, March 5 (AsiaPulse) – Car-maker Volkswagen on Thursday posted a 7.74 per cent decline in its sales in India at 6,529 units for February. The company had sold 7,077 units in the corresponding period last year. Compact car ‘Polo’ and sedan ‘Vento’ continue to be the backbone for the brand, with a total […]

MUMBAI, (Asia Pulse) – India’s diversified Adani Group said it will invest US$6 billion in overseas expansion by 2015, mainly in Australian mining and related assets. “We will be investing US billion into our overseas assets (spread in Australia and Indonesia) by 2015,” group Chairman Gautam Adani told reporters here after unveiling a new corporate […]

NEW DELHI (Asia Pulse) – The Indian Finance Ministry has written to all public sector banks asking them to ensure profits are not overstated and to make appropriate provisions for bad loans. In a letter to heads of public sector banks, the Finance Ministry said “instances of over-reporting of profit have been continuing year after […]