Maruti Suzuki to face major losses with Manesar plant shut down
Indian auto giant Maruti Suzuki is facing a costly shut down of one of its plants in Manesar, after its manager died and 90 employees are behind the bars due to a major riot. The shut down of the plant…
Ford India announces completion of engine production plant in Chennai
Auto manufacturer, Ford India has on has on July 17, 2012 announced the completion of the expansion of its engine plant in Chennai. With this the company has increased the annual production capacity 36% to 340,000, which helps in transforming…
Corporation Bank plans to open more rural branches
With an intention to increase the lean farm loan portfolio with a higher rural penetration, the Corporation Bank intends to a higher rural penetration. The increase in the number of rural banks is planned this year but the shortage of…
Daiwik Hotel group to invest for hotels at pilgrim centres
Popular hospitality service provider, Daiwik Hotels has on July 18, 2012 announced that it plans to invest about Rs. 600 crores on setting up hotels in the pilgrim centres across the country. The company on Wednesday made a soft launch…
Planning Commission orders states to raise power tariffs
The states have been asked by the Planning Commission to increase the charges of electricity. The Planning Commission has also been asked to use the power subsidy to improve the essential services like drinking water, health and education. The Commission…
Reserve Bank Of India slaps fine on Karad Urban Cooperative Bank Ltd
A penalty of Rs. 5 lakh has been imposed by the Reserve Bank Of India (RBI) on Maharashtra based Karad Urban Co-operative Bank for violating guidelines. The penalty has been imposed for shifting of branch without the regulator’s prior approval….
RBI takes steps to save consumers from exploitative investment schemes
The first step has been taken by the Reserve Bank of India (RBI) to protect the consumes from the exploitative investment schemes. The RBI has released a National Strategy for Financial on July 16, 2012. Comments have been invited by…
Banks increase interest rates on long term fixed deposits
It was expected that there would be a fall in the interest rates of the deposits. But contrary to the expectations, the commercial banks are now seen increasing the interest rates on the fixed deposits of two to three years….
E-filing made mandatory for income above Rs. 10 lakh per annum
The filing of the IT returns electronically has been made mandatory by the CBDT for those individuals with an annual income of Rs. 10 lakh or above. E-filing was introduced a few years back, but just the small tax payers…
Costa Coffee inaugurates 100th coffee outlet in Mumbai
British multinational coffeehouse company Costa Coffee has inaugurated its 100th store in the Indian city of Mumbai. Costa Coffee entered in to the Indian market in the year 2005 while partnering with Devyani International Limited. At present the brand has…