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Audi launches new finance scheme in India
Premium luxury car maker Audi, along with its finance arm on May 24, 2012 announced the launch of Audi CarLife-Advance. It is a new comprehensive package which covers the car financing, service plan and insurance as well as extended warranty.
A...
Bank Of Japan maintains ultra low interest rates
On May 23, 2012 the Bank Of Japan maintained its key interest rate unchanged between zero and 0.1 %. The bank also said that it would leave a 70 trillion yen asset purchase programme in place.
The unanimous decision to maintain the interest...
Delhi International Airport warns to shut operations on non payment of charges
Asia Bizz: On April 10, 2012 the authorities of Delhi International Airport said that it might have to shut down in a couple of months till the government approves the 774% increase in the airport charges. Recently, the Airport Economic Regulatory...
Japan’s Ogaki Kyoritsu Bank to have biometric dependent ATM
Asia Bizz: A regional bank in Japan, Ogaki Kyoritsu Bank, is expected to launch an automated teller machine (ATM) which will identify users with their palms. The bank will become the Asian country’s first financial institution to adopt the...
Indian government to shut down loss-making PSU banks
Asia Bizz: Looking at the non-performing assets (NPA), the Indian government is reportedly expected to take a move and direct state-owned banks to shut down its branches. The shut-down of the branches will cut the staff in the loss-making units.
DK...
State Bank of India Expects RBI to Bring Down CRR by 0.75 %
Asia Bizz: Popular Indian lender State Bank Of India (SBI) is reportedly expecting the Reserve Bank Of India (RBI) to further unlock liquidity by reducing the Cash Reserve Ratio (CRR) by 0.75 percent later in the month. The reduction in the...
BHEL open to collaboration with Chinese companies
Asia Bizz: India’s state-owned engineering and manufacturing company Bharat Heavy Electricals Limited (BHEL) said that it is open for collaboration with the Chinese equipment makers on April 3, 2012. BHEL is already facing stiff competition...
Service tax increased to 12 % -Effective from April 1
Asia Bizz: The budgetary proposal of raising the service tax to 12 % has come in to affect from April 1, 2012 in India. Hereafter, restaurant bills, telephone bills, and similar activities will cost more. Finance Minister Pranab Mukherjee increased...
RBI Bans Muthoot Fincorp From Taking Deposits
Asia Bizz: India’s gold finance company Muthoot Fincorp has recently received a ban by the Reserve Bank of India (RBI) from taking deposits from public. This is another blow to the industry where the regulatory attention is intensifying...
Tata Motors to Invest Rs 600 crores Towards FICV in India
Asia Bizz: Indian auto giant Tata Motors revealed on March 29, 2012 that it might invest about Rs 600 crores in the development of Futuristic Infantry Combat Vehicles (FICV). The company also stated that it plans to set up a manufacturing plant...