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RBI Permits Banks To Open Current Accounts For Export Proceeds In Addition To Special Rupee Vostro Accounts
India has been trying to promote rupee trade following the Russia-Ukraine war and the sanctions imposed by the West.
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America's Largest Reptile Sanctuary Applies To Import Gharials From India
America's largest reptile bank based in Arizona has applied to the federal government to import six gharials and another equal number of mugger crocodiles from Tamil Nadu, which it says would help preserve these endangered species.
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Crisis-Hit Sri Lanka Seeks $55 Million Loan From India To Buy Fertilizers
Sri Lanka has sought a $55 million loan from India for the procurement of urea amidst threatening a severe food shortage. The Cabinet has approved a proposal by the Prime Minister to sign an agreement with India to purchase urea.
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Imports, Exports Down, Bank Credit Has Declined: P Chidambaram Slams Government
The former finance minister said he has asked his family to tweet, giving two more economic indicators for the people to draw their own conclusions.
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Rupee Off Record Low, Logs Best Single-Day Gain In 18 Months: 10 Points
The rupee rose sharply against the US dollar to close at 72.37 on Wednesday, breaking its two-day fall. That marked the biggest single-day recovery in the rupee since March 14, 2017. The upmove in the rupee came on a day the government proposed a hike in effective import duty on some steel products, as part of its plan to cut "non-necessary" import...
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Government Says 7,000 Steps Taken To Improve Ease Of Doing Business
Steps taken to improve ease of doing business includefixing timeline for clearance of applications, de-licensingthe manufacturing of many defence products, reduction in numberof documents required for export and import, and mandatoryfiling of all returns on-line through a unified form.
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Pakistani Exports To India Grow Despite Border Tensions
Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year, a media report said on Friday. A report by the State Bank of Pakistan (SBP) revealed that Pakistan grew its exports to India during the first eight months of 2016-17 while curtailing imports by 23 per c...
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Public Accounts Committee Calls Heads Of Public Sector Banks To Discuss Bad Loans
During the meeting on February 27, the PAC will also undertake performance review of import and export trade facilitation through Customs Port and Special Economic Zones where representatives of Revenue Department will also be present.
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Indian Refineries Owe Over $2 Billion Oil Dues To Iran: Petroleum Minister
Four Indian refiners had outstandings of $6.11 billion in May, 2016 when formal banking channels were opened with Iran after nearly four years. They came down to $2.55 billion as on November 15 after public sector refiners paid most of their dues to Iran, the oil minister said.
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Services Export Up 13% At $13.46 Billion in May, Imports At $7.9 Billion
Services export rose by 13.4 per cent to $13.46 billion in May this year, the Reserve Bank data showed on Friday.
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Indian Oil, MRPL Make $330 Million Iran Payment Via Germany-Based EIH Bank
Domestic refiners Indian Oil Corporation (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have made a second tranche payment using Germany-based EIH bank to help clear past oil dues to Iran.
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Exports Shrink for 14th Straight Month, RBI Against Devaluation
India's exports shrank in January for the 14th straight month on continued weak demand from Europe, but the Reserve Bank of India (RBI) said it would not follow countries such as China and Japan in pushing down the currency to help.
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Iran Wants Indian Refiners to Pay Oil Dues in Euros: Report
Iran has asked Indian refiners such as Essar Oil and MRPL (Mangalore Refinery and Petrochemicals Ltd) to clear its past oil dues amounting to over $6 billion in euros within six months.
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Iran Wants Payment in Euro for Oil Sales, Old Dues From India: Report
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the US dollar following last month's sanctions relief.
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India Could Provide Soft Credit to Nepal
India has said it would consider providing a new Line of Credit to Nepal for the construction of a 76-km long fast track road that connects the Himalayan country with the Indian border.
-
RBI Permits Banks To Open Current Accounts For Export Proceeds In Addition To Special Rupee Vostro Accounts
India has been trying to promote rupee trade following the Russia-Ukraine war and the sanctions imposed by the West.
-
America's Largest Reptile Sanctuary Applies To Import Gharials From India
America's largest reptile bank based in Arizona has applied to the federal government to import six gharials and another equal number of mugger crocodiles from Tamil Nadu, which it says would help preserve these endangered species.
-
Crisis-Hit Sri Lanka Seeks $55 Million Loan From India To Buy Fertilizers
Sri Lanka has sought a $55 million loan from India for the procurement of urea amidst threatening a severe food shortage. The Cabinet has approved a proposal by the Prime Minister to sign an agreement with India to purchase urea.
-
Imports, Exports Down, Bank Credit Has Declined: P Chidambaram Slams Government
The former finance minister said he has asked his family to tweet, giving two more economic indicators for the people to draw their own conclusions.
-
Rupee Off Record Low, Logs Best Single-Day Gain In 18 Months: 10 Points
The rupee rose sharply against the US dollar to close at 72.37 on Wednesday, breaking its two-day fall. That marked the biggest single-day recovery in the rupee since March 14, 2017. The upmove in the rupee came on a day the government proposed a hike in effective import duty on some steel products, as part of its plan to cut "non-necessary" import...
-
Government Says 7,000 Steps Taken To Improve Ease Of Doing Business
Steps taken to improve ease of doing business includefixing timeline for clearance of applications, de-licensingthe manufacturing of many defence products, reduction in numberof documents required for export and import, and mandatoryfiling of all returns on-line through a unified form.
-
Pakistani Exports To India Grow Despite Border Tensions
Despite mounting tension along the border, the trade between Pakistan and India has remained intact since the beginning of the current fiscal year, a media report said on Friday. A report by the State Bank of Pakistan (SBP) revealed that Pakistan grew its exports to India during the first eight months of 2016-17 while curtailing imports by 23 per c...
-
Public Accounts Committee Calls Heads Of Public Sector Banks To Discuss Bad Loans
During the meeting on February 27, the PAC will also undertake performance review of import and export trade facilitation through Customs Port and Special Economic Zones where representatives of Revenue Department will also be present.
-
Indian Refineries Owe Over $2 Billion Oil Dues To Iran: Petroleum Minister
Four Indian refiners had outstandings of $6.11 billion in May, 2016 when formal banking channels were opened with Iran after nearly four years. They came down to $2.55 billion as on November 15 after public sector refiners paid most of their dues to Iran, the oil minister said.
-
Services Export Up 13% At $13.46 Billion in May, Imports At $7.9 Billion
Services export rose by 13.4 per cent to $13.46 billion in May this year, the Reserve Bank data showed on Friday.
-
Indian Oil, MRPL Make $330 Million Iran Payment Via Germany-Based EIH Bank
Domestic refiners Indian Oil Corporation (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have made a second tranche payment using Germany-based EIH bank to help clear past oil dues to Iran.
-
Exports Shrink for 14th Straight Month, RBI Against Devaluation
India's exports shrank in January for the 14th straight month on continued weak demand from Europe, but the Reserve Bank of India (RBI) said it would not follow countries such as China and Japan in pushing down the currency to help.
-
Iran Wants Indian Refiners to Pay Oil Dues in Euros: Report
Iran has asked Indian refiners such as Essar Oil and MRPL (Mangalore Refinery and Petrochemicals Ltd) to clear its past oil dues amounting to over $6 billion in euros within six months.
-
Iran Wants Payment in Euro for Oil Sales, Old Dues From India: Report
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the US dollar following last month's sanctions relief.
-
India Could Provide Soft Credit to Nepal
India has said it would consider providing a new Line of Credit to Nepal for the construction of a 76-km long fast track road that connects the Himalayan country with the Indian border.
