India will see signs of recovery this fiscal: RangarajanSeptember 17th, 2009 HYDERABAD - Indian economy will see "definite signs of recovery" in the second half of the current financial year and will grow between 6 and 6.5 percent in the fiscal, Prime Minister's Economic Advisory Council chairman C. Rangarajan said here Thursday.
India's economy to grow by 7 percent: MinisterJuly 21st, 2009 NEW DELHI - India's economy is expected to grow at around 7 percent this fiscal, Minister of State for Finance Namo Narain Meena said in the Rajya Sabha Tuesday. "As per the Economic Survey for 2008-09 and assuming the monsoon would be normal, India's gross domestic product (GDP) is expected to grow at around 7 percent in the fiscal 2009-10," Meena said.
Reserve Bank survey lowers India's growth forecast to 5.7 percentMay 14th, 2009 MUMBAI - A study based on a survey conducted by India's central bank has lowered the country's economic growth forecast to 5.7 percent for this fiscal from the earlier projection of 6 percent because of a sharp downward revision in the anticipated expansion of industrial output. The study, conducted on the basis of a survey among 17 professional forecasters, has kept unchanged the growth rate for the farm sector and the services industry at 3 percent and 7.5 percent, respectively, as per a statement issued by the Reserve Bank of India (RBI) Thursday.
Treasurer says Australian economy forecast to grow 2.25 percent in fiscal 2010-11May 12th, 2009 Australian economy forecast to grow in 2010-11CANBERRA, Australia — Treasurer Wayne Swan says the Australian economy is forecast to shrink half a percentage point in the next fiscal year then rebound to 2.25 percent growth in the following 2010-11 fiscal year. Swan revealed the current Treasury forecasts Tuesday as he released his government's budget for the next fiscal year beginning July 1, 2009.
ICICI Bank's Kamath joins Infosys as directorMay 2nd, 2009 BANGALORE - Infosys Technologies Ltd appointed K.V. Kamath, non-executive chairman of ICICI Bank, as an additional director to its board, the IT bellwether said Saturday.
India's ICICI bank quarterly profit down 35 pct on low fee income, braces for more bad loansApril 25th, 2009 India's ICICI bank quarterly profit down 35 pctMUMBAI, India — ICICI Bank Ltd., India's largest private bank, said Saturday that its quarterly profit slid over 35 percent as the global financial crisis eroded fee income in commercial and retail banking. The bank said it was also bracing itself for rising bad loans by increasing provisions.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
Shikha Sharma new managing director of Axis BankApril 20th, 2009 MUMBAI - Axis Bank Ltd Monday said it has appointed Shikha Sharma as the bank's managing director and chief executive for the next five years. Sharma, currently chief of ICICI group's life insurance business, will replace Axis Bank's present chief executive P.J.
India needs more stimulus measures: AhluwaliaApril 7th, 2009 NEW DELHI - India should have more fiscal stimulus measures to help the economy weather the global slowdown, Planning Commission Deputy Chairperson Montek Singh Ahluwalia said here Tuesday. 'We should have more fiscal stimulus measures.
ICICI Prudential to consolidate business in KeralaMarch 19th, 2009 THIRUVANANTHAPURAM - Private life insurer ICICI Prudential Life is focussing on consolidating business in Kerala rather than going for major expansion, a top official said here Wednesday. In the first 11 months this fiscal, the company's business has crossed Rs.4.05 billion (Rs.405 crore), ICICI Prudential vice-president K.S.
ICICI Bank slashes home loan ratesMarch 7th, 2009 MUMBAI - Two days after the country's central bank lowered key rates, private lender ICICI Bank Friday cut interest rates in new home loans by 25-50 basis points. For home loans less than Rs.2 million, the lending rate would come down to 9.75 percent from 10 percent, a bank spokesperson said.
Economy will grow by 7 percent: PranabFebruary 11th, 2009 NEW DELHI - The Indian economy will grow by 7 percent this fiscal even as recent projections by global agencies like the International Monetary Fund (IMF) say that advanced countries' economies would shrink by 2 percent, Minister for External Affairs Pranab Mukherjee said here Thursday. 'I am proud to say that in 2008-09 India will still grow by 7 percent,' said Mukherjee while addressing the 81st annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI).
Chhattisgarh's industrial sector to grow over 9 percentFebruary 3rd, 2009 RAIPUR - Chhattisgarh's industrial sector is expected to grow 9.41 percent this fiscal, Chief Minister Raman Singh said here Wednesday. Speaking in the state assembly, he said the agriculture and service sectors were estimated to grow 1.10 and 9.46 percent respectively.
ICICI Bank, LIC Housing cut home loan ratesDecember 30th, 2008 MUMBAI - Two more lending institutions - ICICI Bank and LIC Housing - Wednesday cut their interest rates on home loans by up to 75 basis points (bps). While LIC Housing Finance cut rates for existing home loan borrowers by 75 bps effective Thursday, ICICI cut rates by 50 bps with immediate effect.
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