2. ICICI Bank launches NRI remittance
service
ICICI Bank has announced the launch of I-Express (the
option of visiting any partner outlet for instant credit into
the beneficiary account maintained with ICICI Bank in
India), an instant cross-border money transfer option for
non-resident Indians (NRIs).
The service would be available through the ICICI Bank's
select partners in the Gulf countries
3. RPower awards Rs 10K cr order to
GE for Samalkot project
Anil Ambani Group firm Reliance Power today said it has awarded a
Rs 10,000 crore equipment order to GE Energy India for the expansion
of its 2,400-MW gas-based power project at Samalkot, in Andhra
Pradesh.
GE will supply six frame 9FA gas turbines, 3 D-11 steam turbines and
generators for the power project under the contract.
4. TCS, Infosys plan to hire 50,000 &
40,000 respectively
With double-digit revenue growth returning to the $60
billion Indian IT-ITeS sector , top IT players, including
TCS and Infosys, are stepping up their hiring plans for the
next few quarters to meet the reviving demand in the US
and European markets.
5. ONGC's first commercial power project
to start next year
The state-owned Oil and Natural Gas Corporation's (ONGC) first
ever 726 MW commercial power project would start generating
electricity next year.
The ONGC's biggest power project is being commissioned in
Palatana, about 60 km south of here, at a cost of Rs 9,000 crore.
6. FOOD INFLATION FALLS FOR
THIRD WEEK TO 12.85%
Persistent high prices of food items could lead to
ever-increasing prices.
It stood at 12.85% for week ended October 23,
declining from 13.75% in previous week.
Index for food declined by 0.2%, reflecting an
actual decline of prices.
RBI increased key rates 6 times this year to bring
down inflationary expectations
Central bank expects overall inflation to ease by
5.5% by fiscal year end.
7. FOOD INFLATION FALLS FOR
THIRD WEEK TO 12.85%
Persistent high prices of food items could lead to ever-
increasing prices.
It stood at 12.85% for week ended October 23, declining
from 13.75% in previous week.
Index for food declined by 0.2%, reflecting an actual
decline of prices.
RBI increased key rates 6 times this year to bring down
inflationary expectations
Central bank expects overall inflation to ease by 5.5% by
fiscal year end.
8. FOREX RESERVES JUMP $2.6 bn
TO TOUCH $298 bn
Country’s forex reserves rose $2.6 bn on Oct 29, on
account of revaluation of gold reserves.
They are at $297.96 billion now.
Foreign currency assets comprising dollars, British pounds
& euro, rose $1,399 mn during week.
Value of gold in reserves rose $1,152 mn during week.
Special drawing rights, or SDRs (reserve currency with
International Monetary Fund) rose $4 mn.
Reserve capital with IMF rose $2 mn.
