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Commerce Minister Says India Aspires To Reach 3.5% Of Global Trade By 2020

Commerce Minister Nirmala Sitharaman said India’s share is 2% of total global trade. Commerce Minister Nirmala Sitharaman said India’s share is 2% of total global trade. New Delhi: Commerce Minister Nirmala Sitharaman on Saturday said that India should reach 3.5 per cent of total global trade by 2020 from its current share of two per cent. “Our share is 2 ... Read More »

Audi India Appoints Rahil Ansari To Replace Joe King As Head Of Operations

Volkswagen group firm Audi has announced a top management change in India with the appointment of Rahil Ansari as head of the operations here with effect from 1st February 2017. Ansari will take over as Head of Audi India from the incumbent Joe King, who will move back to Audi headquarters in Germany. Commenting on the change, Volkswagen Group Sales ... Read More »

LeEco and Coolpad Launch Cool S1 With 6GB of RAM, Harman Sound, 4070mAh Battery

LeEco in collaboration with Coolpad are swiftly coming out with affordable high-end smartphones. After launching their first joint handset, the Cool1 Dual in August and their second device, the Cool Changer 1C, in late November, the two companies have jointly launched their third smartphone, the Cool S1, in China. The Cool S1 priced at CNY 2,499 (roughly Rs. 24,360) for ... Read More »

Swipe Elite Max With 4G VoLTE Support, 4GB of RAM Launched at Rs. 10,999

Swipe Technologies, soon after launching the entry-level Elite Star, has now unveiled the Elite Max in India. Priced at Rs. 10,999, the all-new Swipe Elite Max is now available to buy exclusively via online retailer Flipkart. The company with its latest offering is targeting “youth, fashion-savvy women, and professionals.” The online retailer claims that the Elite Max is eligible for ... Read More »

Banks Must Keep Deposits Record Of Scrapped, Valid Notes, Says Government

s New Delhi: To avoid any malpractices, the government has asked all public sector banks to strictly maintain a record of deposits made through both old Rs. 500 and Rs. 1,000 notes and other valid currencies. In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that “maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as ... Read More »

Axis Bank Denies Local Media Report Of Threat To Its Banking Licence

Axis Bank said it has strong systems and controls in place as per central bank rules. Mumbai: Axis Bank on Monday slammed a regional newspaper report stating authorities were preparing to revoke the bank’s licence as “false and malafide”, saying it had strong systems and controls in place as per central bank rules. Axis, India’s third-biggest private sector bank, said ... Read More »

Demonetisation: RBI Seeks Details Of Fake Currency From Banks

Mumbai: To ascertain the amount of counterfeit currency, the Reserve Bank has asked all banks to send details of all fake notes detected during exchange and deposits of defunct old high-value notes post demonetisation. Banks are required to send details of fake currencies in three different dates, the first of which is December 16. The RBI in an advisory issued ... Read More »

Banks Receive Rs 12.44 Lakh Crore Of Old, Invalid Notes So Far, Says RBI

Mumbai: Banks have taken back Rs 12.44 lakh crore ($184.24 billion) of high-value currency that the government abruptly abolished last month, Reserve Bank of India Deputy Governor R Gandhi said on Tuesday. That represents about 80 percent of the Rs 15.44 lakh crore in 500- and 1,000-rupee notes that were circulating before Prime Minister Narendra Modi abolished them on Nov. ... Read More »

No Regulatory Obstacles For NRIs Depositing Banned Notes: Bank Of England

London: In a relief to British Indians and NRIs, the Bank of England has said that it does not foresee any regulatory obstacles to people wanting to deposit or exchange banned Rs. 500 and Rs. 1,000 notes at the UK branches of Indian banks. The banking authority’s chief stressed the issue was a matter for the Indian government, who must ... Read More »

Freedom 251 Maker Ringing Bells Refutes Reports of Shutting Down

Reports of Ringing Bells closing down its operations are surfacing online. In a statement on Thursday, the company is denying those reports however. TeleAnalysis reported that the maker of the Freedom 251 smartphone formed another company named MDM Electronics Private Limited, and had set up shop in Delhi, closing the curtains on Ringing Bells forever. However, the Indian company has ... Read More »