'India has the potential to grow at more than 7%, with the monetary policy providing a supportive hand.'
In its first overseas acquisition after parting ways with Honda, country's largest two-wheeler maker Hero MotoCorp (HMC) on Monday said it has picked up 49.2 per cent stake in US-based high-end motorcycle maker Erik Buell Racing (EBR) for $ 25 million (about Rs 148 crore).
EBR that produces race-only machines for bikes may just help Hero MotoCorp Ltd. (formerly Hero Honda Motors Ltd.) to build a powerful range of bikes post its divorce with Honda Motors.
The bank also announced that it will reduce its external benchmark linked lending rate as well as repo linked lending rate by 40 basis points from July 1.
Private sector lender ICICI Bank has revised its external benchmark lending rate (EBLR) to 8.10 per cent, and state-owned Bank of Baroda has raised the rate to 6.90 per cent with immediate effect after the RBI hiked the key repo rate. Likewise, two other public sector banks -- Bank of India and Central Bank of India -- have also raised the repo linked lending rate. In an out of turn Monetary Committee Meeting (MPC), the Reserve Bank on Wednesday announced to hike the benchmark repo rate -- the short term lending rate it charges to banks -- by 0.40 per cent to 4.40 per cent with immediate effect, aimed at taming the rising inflation caused by the global geopolitical situation.
'Overnight, the Chetak had new markings and thereafter flew on the call sign, Echo-Bravo-Romeo.' 'By all accounts, this was the first aircraft of the Bangladesh Air Force.'
The CAG has pulled up the union government for adopting an erroneous process of devolution of IGST to states and short-transfer of cesses to reserve funds, which resulted in under-reporting of deficit figures for the 2017-18 and 2018-19 fiscals. The Integrated Goods and Services Tax (IGST), which is levied on inter-state sale of goods and services, is shared between the Centre and states in the 50:50 ratio. In its report on the union government accounts tabled in Parliament, the Comptroller and Auditor General of India (CAG) found that a sum of Rs 13,944 crore was left unapportioned and retained in the Consolidated Fund of India (CFI) in 2018-19, even though the amended IGST Act now provides for a process for ad-hoc apportionment of IGST.
Syrian President Bashar al-Assad has acknowledged to a visiting delegation of envoys from India, Brazil and South Africa that "some mistakes had been made" by his security forces in tackling the unrest in the country.
The Rail Budget will announce introduction of AC suburban trains in Mumbai.
The government Rs 20 lakh crore package includes Rs 1.7 lakh crore of fiscal stimulus announced in the first phase, Rs 5.6 lakh crore stimulus provided through various monetary policy measures and Rs 5.94 lakh crore through the second phase, implying Rs 6.70 lakh crore package is still to be announced.
Railway Minister Suresh Prabhu faces a stiff dilemma on whether to raise fares and freight rates in his second Rail Budget.
The perfect platform to grab attention and engage with prospective customers, the 2016 Auto Expo will see over 100 exhibitors displaying some very interesting products. However, our eyes at MotorBeam are keen on some highly awaited launches that will be redefining products for their respective manufacturers.
The Centre is likely to cut budgetary support to the railways by around Rs 5,000-10,000 crore for 2018-19, out of the total budgeted GBS of Rs 53,060 crore. Due to this cut in GBS, the railways is likely to depend more on borrowings, asset monetisation, and internal generation to meet the capex target of Rs 1.465 trillion for the current year.
If you thought the performance bike buffet ended at the curb, then you have been gravely mistaken. Check out the top 5 performance bike launches for 2015 that we can't wait to get our hands on.
The company's operations are slated to commence in Burkina Faso and Ivory Coast next week.
The upcoming July derivatives expiry later in the week would also add some volatility to the market proceedings.
Hero today sells its products in 19 countries across Asia, South and Central America and Africa.
All are entry-level performance bikes that don't cost a bomb!
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