Sunday Edition

Govt respects independence, autonomy of RBI, says FinMin

Sunday, 15 Jan 2017 | PNS | NEW DELHI | in Sunday Pioneer

Refuting allegations of interference by an union of Reserve Bank of India (RBI), the Finance Ministry on Saturday clarified that the Government fully respects independence and autonomy of the RBI. “It is categorically stated that the Government fully respects the independence and autonomy of the RBI,” Finance Ministry said in...

Central Bank’s own figures indicate return of Rs15L-cr of banned notes

Sunday, 15 Jan 2017 | IANS | New Delhi | in Sunday Pioneer

Despite the Reserve Bank of India dismissing reports that suggested 97 per cent of the demonetised currency had returned to the bank’s coffers by December 30, its own weekly figures on ‘currency in circulation’ indicate that this number is correct. These figures, in fact, suggest that only Rs54,000 crore of...

Tech Mahindra launches incubator for UK startups

Sunday, 15 Jan 2017 | PTI | NEW DELHI | in Sunday Pioneer

IT firm Tech Mahindra has launched InnovateMK, an incubator that will work with technology startups in Milton Keynes in the UK. Over the next two years, InnovateMK aims to support more than 50 entrepreneurial ventures in the region, Tech Mahindra said in a statement. InnovateMK is also supported...

IFCI cuts benchmark lending rate by 75 bps

Sunday, 15 Jan 2017 | PTI | NEW DELHI | in Sunday Pioneer

Term finance lender IFCI on Saturday reduced its benchmark lending rate by 0.75 percentage point in line with market competition. The company has reduced benchmark lending rate from 11.50 per cent to 10.75 per cent with monthly rests, IFCI said in a statement. The new rate would be effective...

‘BRICS nations establishing themselves as economic force’

Sunday, 15 Jan 2017 | PTI | BEIJING | in Sunday Pioneer

BRICS countries are establishing themselves as an economic force, eminent Indian banker and New Development Bank chief KV Kamath has said, expressing confidence that the cooperation among the 5-nation bloc will be further strengthened during the Chinese presidency this year. With China to host the ninth BRICS annual summit in the...

SBI says home-loan queries jump three-fold since rate cut

Sunday, 08 Jan 2017 | PTI | Hyderabad | in Sunday Pioneer

State Bank of India (SBI) is leaving no stones unturned to kick-start the credit offtake, and last week’s steep 0.90 bps lending rate cut has resulted in a huge number of enquiries, especially for home loans, a top bank official said here on Saturday. “Credit growth has been very, very subdued...

MUDRA loan disbursals take a hit due to demonetisation

Sunday, 08 Jan 2017 | PTI | Hyderabad | in Sunday Pioneer

Loan disbursals by Micro Units Development and Refinance Agency (MUDRA) slowed down in the third quarter of current financial year following the demonetisation of high-value currencies, an official said on Saturday. “We have disbursed Rs 80,000 crore (from April 1 to December 31, 2016). There have been some lull during...

Apple cuts Cook’s salary by hefty 15% as iPhone sales decline first time

Sunday, 08 Jan 2017 | PTI | Los Angeles | in Sunday Pioneer

iPhone maker Apple has cut its CEO Tim Cook’s salary by a whopping 15 per cent for 2016 as annual sales declined for the year, missing targets that also led to the tech giant’s first annual revenue decline in 15 years. The company gave the 56-year-old $8.75 million in total...

‘Despite notes ban, India to grow faster than China’

Sunday, 08 Jan 2017 | PTI | SINGAPORE | in Sunday Pioneer

Indian economy will grow faster than China despite the temporary slowdown created by demonetisation, an Indian-origin academic and former Singapore diplomat said at a conference of leading world universities here on Saturday. “Even if the demonetisation created a slowdown, it is not going to change the long-term momentum of where...

Govt, NAWADCO work out modalities for Muslims’ empowerment: Naqvi

Sunday, 08 Jan 2017 | PNS | New Delhi | in Sunday Pioneer

Union Minister of State for Minority Affairs (Independent Charge) & Parliamentary Affairs, Mukhtar Abbas Naqvi on Saturday said here that the Central Government, National Waqf Development Corporation (NAWADCO) and Waqf Council have started a campaign on war footing to utilise the waqf properties for socio-economic-educational empowerment of Muslim community. While addressing...

SOUNDBITE

I want to personally thank Obama (and Michelle) for changing my life. His courage and compassion created equality for everyone.

TV host | Ellen DeGeneres

My father has care and concern for others. You can’t control the world; you can only control your reaction.

Actor | Hrithik Roshan

Virat (Kohli) has showed a lot of trust in me and it was very important for me that people in the dressing room trust me.

Indian cricketer | Yuvraj Singh
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