RBI relaxes trade credit norms
Mumbai: Relaxing norms to raise funds from abroad, the Reserve Bank on Tuesday said now all types of companies can avail trade credit facility from overseas for import of capital goods. Earlier, only companies in the infrastructure sector were allowed to raise such trade credits.
OVL may raise stake in Venezuela oil project
New Delhi: ONGC Videsh Ltd and its partners are mulling raising stake in Venezuela’s $20 billion Carabobo-I oil project.
SFIO asked to complete Saradha probe by Dec
New Delhi: The government has given time till December to the Serious Fraud Investigation Office to complete its probe into the alleged fraudulent money pooling schemes run by 54 entities, including Saradha group.
PSU bank employees’ unions call off strike
New Delhi: A section of public sector bank employees, who had threatened to go on strike on Wednesday, have deferred it following assurance from the government that there is no plan for merger of banks at present.
TCS sets up all-female BPO in Saudi Arabia
MumbaI: Tata Consultancy Services (TCS) has tied up with Saudi Aramco and GE to set up the first all-female BPO centre in Saudi Arabia.
Spectrum auction likely in January
New Delhi: The department of telecommunications is likely to conduct the third round of spectrum auction by January and expects to garner minimum revenue of about Rs 11,000 crore this fiscal, telecom secretary MF Farooqui said.