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RBI allows banks to act as insurance brokers

The Reserve Bank on Thursday allowed banks to act as insurance brokers.

Gold sale in Gulf to rise on limit revision for NRIs: Report

As part of the Budget proposal last week, it was announced that male passengers can carry gold worth Rs 50,000, and female passengers Rs 1 lakh compared to the earlier limit of Rs 10,000 and Rs 20,000, respectively.

Budget 2013: Chat online with Chidambaram on Google+

This is for the first time that any Union Cabinet Minister is using this medium to interact with the citizens and to respond to their questions about the Union Budget.

All-women bank to start operations from November: Chidambaram

India's first all-women bank will start operations from November this year through six branches spread across the length and breadth of the country, Finance Minister P Chidambaram said Sunday.

Bank for women mere 'tokenism' sans social change: J S Verma

The former chief justice had led the three-member panel that looked into laws on crimes against women in the aftermath of the December 16 Delhi gangrape incident which had sparked massive protests.

It is a very responsible Budget: Lord Paul

"It has to be accepted that the Finance Minister has done a good job to keep confidence of everybody in the Indian economy and also tried to deal with budget deficit and still make efforts to increase growth rate," Paul, Chairman of the Caparo Group, said.

‘No need to move retrospective amendment till Vodafone issue resolved’

On the Vodafone tax issue, Chidambaram categorically stated that the government will provide conciliation. “We want the matter resolved; we’ve asked them if they want it resolved, suggest a way forward. Clarity will only come into play post-Vodafone case settlement.”

Budget proposals will help widen distribution reach: Insurers

"Insurance broking is a specialised business and may require banks to develop additional skills. This move by the government will allow insurers to take advantage of the banks' distribution network," Tata AIG General Insurance CFO and Senior Vice-president-Finance Miranjit Mukherjee said.

Budget 2013 will woo more investors into MF sector

The mutual fund players have welcomed the Budget proposals to increase the income slab for the Rajiv Gandhi Equity Savings Scheme (RGESS) and allow pension and provident funds to invest in debt schemes, saying these steps will increase the depth of capital markets.

Budget evokes mixed reactions from market experts

Budget 2013-14 has received mixed reactions from stock market participants, with some terming it as "good for capital market", while others saying it is not "market friendly".

Proposed Women's Bank doesn't need special permission: RBI

Reserve Bank Deputy Governor Anand Sinha Thursday said the proposed all-Women bank may not take much time to come up as this would fall under the ambit of the already existing public sector bank guidelines.

Budget proposals to boost investments: Sharma

Steps proposed in the Union Budget today will help boost investments in the country and provide a thrust to the textiles industry, Commerce and Industry Minister Anand Sharma said Thursday.

Rural dev ministry gets Rs 80,194 crore budget allocation

Rural Development Ministry, which steers a number of flagship programme like MNREGA and PMGSY, has got an allocation of Rs 80,194 crore for 2013-14 fiscal.

Govt announces scheme for making renewable energy cheaper

Terming as priority the promotion of clean and green energy, Finance Minister P Chidambaram Thursday announced a scheme for making of renewable energy cheaper by providing for low interest bearing funds.

S&P, Fitch say India rating unaffected by Budget

Global rating agency Standard & Poor's Thursday said the Union Budget for fiscal year 2013-14 will have no impact on the country's sovereign credit rating.

Budget 2013 disappoints aviation, hospitality industry experts

Aviation and hospitality industry experts Thursday expressed disappointment at the 2013-14 general budget, saying contentious issues like high sales tax on jet fuel and taxation on travel trade had not been addressed.

Attractive schemes on the anvil to discourage gold buying

"The household sector must be incentivised to save in financial instruments rather than buy gold. Increasing savings and their optimal allocation for productive uses lead to higher economic growth," he said while presenting the Budget.

Govt to borrow Rs 4.84 lakh cr to bridge fiscal deficit

During 2012-13, the government borrowed Rs 4,67,384.06 crore from the market.

Union Budget 2013: Rs 2,030 cr given for development of NE region

The Ministry of Development of North Eastern Region was on Thursday given an allocation of Rs 2,030 crore in the Union Budget, which is an increase of Rs 101 crore as against last year's outlay of Rs 1,929 crore.

Govt to follow global practices to define FDI, FII

"In order to remove the ambiguity that prevails on what is FDI and what is FII, I propose to follow the international practice and lay down a broad principle," Finance Minister P Chidambaram today said in his Budgetary proposals.