Good Morning............... Headlines for today: 1. The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks. While payment banks will offer remittance services, small banks will offer low-ticket loans and basic banking services within a limited area of operation. 2. A Malaysia Airlines Boeing 777 with about 300 people on board crashed in eastern Ukraine near the Russian border on Thursday, the Ukraine government and a regional European aviation official reported. The Interfax news agency said the plane had been shot down. 3. State Bank of India may raise about Rs 20,000 crore by selling shares over two years to fund capital requirements and expansion plans as it looks to take advantage of the surge in stock prices, driven by optimism about the Narendra Modi government putting economic growth back on track. Indias largest bank is in discussions with the finance ministry over its financial requirements. 4. Power rates in Delhi will rise by 2.5% to 25% for various levels of consumption, the regulator said after considering the tariff petitions of the Anil Ambani-promoted BSES utilities and Tata Powers distribution arm, which supply electricity in the capital. 5. Riding on sustained growth in its key markets and industry segments, Tata Consultancy Services (TCS) has registered a 45 per cent jump in its first-quarter net profit, beating industry estimates. The bottomline was also boosted by a one-time gain of ₹490 crore.
Posted on: Fri, 18 Jul 2014 03:50:53 +0000
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