RBI released the list of applicants for small and payment banks

The Reserve Bank of India (RBI) has released the list containing the names of applicants of small and payment banks on 4 February 2015. It states that 72 applications for small finance banks and 41 applications for payment banks were received. The last date for the receipt of applications for the license of small and […]

micromax dethrones samsung Business

Micromax dethrones Samsung as largest smartphone firm in India

Micromax dethrones Samsung to become the largest smartphone firm in India. The Indian smartphone maker overtook the Korean company Samsung from the top spot. Based on the data of October-December quarter Micromax controlled 22 per cent of total market share in smartphone business. On the other hand Samsung’s marketshare was slightly below (20 percent) than […]


The 6th bimonthly monetary policy review by RBI

The 6th bimonthly monetary policy has been disclosed by Reserve Bank of India (RBI). The apex bank has decided to keep Repo rate unchanged at 7.75%. Also Cash reserve ratio (CRR) was kept unchanged at 4%. However it has decided go for a cut in SLR. To encourage banks to lend more, the central bank […]

foreign exchange remittance Business

RBI increases Foreign exchange remittance limit to $250,000 per person a year

The Reserve Bank of India (RBI) on tuesday doubled the foreign exchange remittance limit upto $250,000 per person a year. Means Indians spend upto this much this much amount abroad without permission RBI said during its bimonthly monetary policy review. Now they can buy property, hold shares or debt instruments, or any other assets or […]


ICICI bank launched contactless credit and debit card

India’s largest private sector bank ICICI became the first bank to launch contactless credit and debit card on 7th January 2015. These cards are based on the near field communication (NFC) technology. Means customers can make eloctronic payments just by waving the cards near the point of sale terminals instead of swiping. The bank’s contactless […]

Zomato_Logo Business

Zomato acquired Turkey based Mekanist

In a major business deal restaurant discovery company Zomato acquired Turkey based Mekanist. The Mekanist is one of the most popular restaurant discovery search engines in Istanbul and Ankara. After the present acquisition Zomato’s total market presence will rise upto 50000 from 27500. Shortly Mekanist’s traffic and restaurant related content will be shifted to Zomato […]

icici twitter Business

Twitter based money transfer facility by ICICI bank

ICICI Bank, India’s largest private bank, has launched its twitter based banking services. It will enable customers to transfer money through the micro-blogging Web site. This facility also enables customers to view their account balance, view the recent transactions and recharge mobile pre-paid through Twitter. To avail twitter based money transfer facility Savings account holders […]