RBI calls for protector for bankers to fast-track financial decision making

Raghuram RajanPune, Jan 5 : Reserve Bank of India (RBI) Governor Raghuram Rajan called for the government to afford greater protection to bankers, stating that such a step will be necessary in order to fast-track financial decision making.

"If officers are hauled up for [fast-track financial] decisions, it will lead to delay in good decisions because of avoidance of risk on the part of the banker," Rajan said while addressing a two-day bankers ' retreat here.

Rajan further called for the cleaning up of bad debts of banks and the restructuring of other possible non-performing assets (NPAs) within a year in order to put the economy back on track.

'Banking sector of a country mirrors its economic rise': PM Modi

Narendra ModiPune, Jan 3 : Asserting that the banking sector of a country mirrors its economic rise, Prime Minister Narendra Modi on Saturday said Japan and China had the top ten banks of the world during their economic rise.

He said banks would be run professionally and there would be no interference but accountability was essential. He said the government had no vested interest, and public sector banks can derive strength from this fact.

Prime Minister Modi said he is against political interference but supports political intervention in the interest of the people. He said political intervention will enable the voice of the common man to reach such institutions.

Jaitley calls for reforms in banking sector

Arun JaitleyPune (Maharashtra), Jan 3 : Union Finance Minister Arun Jaitley on Saturday called for reforms in the banking sector while pitching for greater autonomy in government-controlled banks.

"Public sector banks and financial institutions have performed very important role. There is a need to get the best talent into the system. There is a need for far greater autonomy to them. And, we also need to understand the problems that these banks themselves are confronting," Jaitley told reporters on the sidelines of a meet with officials of public sector banks.

Need to rethink strategy for PSU banks: Banking Secretary

Pune - There is a need to rethink strategies for public sector banks in the country and the efforts for their consolidation would not be limited to merger and acquisitions, a senior finance ministry official said on Friday.

Financial Services Secretary Hasmukh Adhia also said that it was absolutely essential to implement banking reforms and making the banks stronger was necessary for the economic growth.

Speaking to reporters at a pre-event briefing on two-day financial sector retreat 'Gyan Sangam' here, Adhia also said that asset quality was a problem for many PSU banks, while low credit offtake was also an area of concern.

Merc launches locally-made S Class diesel model at Rs 1.07 cr

mercedes-benz-s-classPune: German car-maker Mercedes Benz on Thursday rolled out the locally made diesel variant of its luxury sedan S Class 350 priced at Rs 1.07 crore (ex-showroom Maharashtra).

This is for the first time that Merc is introducing the diesel variant of its popular S Class models. Besides, the company also commenced generation from its 100-kw rooftop solar plant at the Chakan facility, which will produce 1.50 lakh units of power annually.

Sterlite bags Punjab-Kashmir ultra-mega transmission project

Sterlite-TechnologiesPune, May 26 : Transmission solutions firm Sterlite Technologies Monday said its subsidiary Sterlite Grid Ltd has won its sixth ultra-mega transmission project (UMTP) awarded by the union power ministry.

"Sterlite Grid Ltd has been awarded its sixth ultra-mega transmission project (UMTP) on build-own-operate basis by the Ministry of Power," the company said in a release here.

"This Northern Region Strengthening Scheme project (NRSS 29) is part of the National Grid and is designed to carry over 1,000 MW of electricity from Punjab to the Kashmir Valley," it added.

BJP not seeking 'unwanted support' from other parties: Rajnath Singh

Rajnath SinghPune (Maharashtra), Apr 9 : Bharatiya Janata Party (BJP) president Rajnath Singh has said that his party is not in the business of seeking "unwanted support" from other parties during this year's general elections, and added that if any party wanted to help the BJP come to power, it should either merge with the BJP or become part of the National Democratic Alliance (NDA).

Addressing a rally here on Tuesday, Singh's missive appeared to be directed at Maharashtra Navnirman Sena (MNS) chief Raj Thackeray, who of late has been attempting to create divisions between the BJP and its long-term ally, the Shiv Sena.

Godrej announces JV to develop residential project in Pune

Godrej announces JV to develop residential project in Pune Godrej Properties Ltd., the real estate development division of the Godrej Group, has signed a deal with Oxford Group and Ekta World to develop a residential project in Mundhwa, Pune.

The Mumbai-based real estate developer said that the joint venture (JV) residential project, spread over 43 acres, will offer premium one, two, three and four BHK apartments.

Gadkari confident of BJP's victory in Lok Sabha elections, says Modi will be next PM

Nitin GadkariPune, Mar 3 : Expressing confidence on winning the upcoming Lok Sabha elections, Bharatiya Janata Party ( BJP) leader Nitin Gadkari has said that party's prime ministerial candidate Narendra Modi will definitely be the next prime minister of the country.

"We are confident that Bharatiya Janata Party-led NDA will win 275 seats in the next elections and Narendra Modi will surely be the next Prime Minister of India. If we run short of some seats, we will think about other options," Gadkari told media here yesterday.

'Pyar kiya to darna kya': Karzai on ties with India

Hamid-KarzaiPune, Dec 16 : Afghan President Hamid Karzai, acknowledging the “love affair” between India and Afghanistan, has said if India continues with its current levels of support to his government for the next 20 years, his country would "stabilise”.

Addressing students of Symbiosis International University in Pune, Karzai Sunday said his country would hold presidential elections April 5, 2014, and parliamentary polls in September 2014.

BMW launches new model

BMW-Z4-RoadsterPune, Nov 14 : German luxury car maker BMW Thursday launched the facelifted Z4 roadster car at Rs. 68.9 lakh.

The two-seater sports car with a retractable hard top roof has more contemporary features as compared to the outgoing model.

BMW's signature kidney grille has its slants coloured in silver instead of the traditional black or chrome giving it a sporty look, and the prominent side creases, wheel arches and angular headlamps further add to the car's striking appearance.

Tendulkar's retirement was coming: Dhoni

Mahendra-Singh-DhoniPune, Oct 12 : India captain Mahendra Singh Dhoni said Sachin Tendulkar's rertirement was on expected lines and lauded the cricketing great for staying on top of the game for the last 23 years or so.

"I knew it (retirement) was coming I am quite happy for him, for the kind of illustrious career he has had, for the time he was at the top throughout his career. For 23 years or so he was always at the top," said Dhoni on the eve of the first of the seven-match series here Saturday.

Dhoni said Tendulkar had to carry the burden of the expectations of the entire country for the last 23 years.

Pune faces shortage of drugs

Pune faces shortage of drugsThe city of Pune is facing a shortage of some basic life-saving drugs after wholesale chemists stopped purchasing medical supplies to protest the harassment by the officials of the Food and Drugs Administration (FDA).

Sanjay Dutt to make paper bags, earn Rs.25 a day

Sanjay-DuttPune, June 1 : Jailed Bollywood actor Sanjay Dutt will be trained to make paper bags at the Yerawada Central Jail, official sources said Saturday. He is likely to be paid Rs. 25 a day.

Dutt is undergoing his 42-month prison sentence after being linked to the 1993 Mumbai terror attack. It is his second stint in the jail.

A jail official said the actor will be trained to make high quality, heavy duty paper bags with a capacity of 6-8 kg, which are now gradually replacing plastic bags in the market.

US furniture giant opens factory in Pune

Steelcase-IncPune, April 23 : The US office furniture giant Steelcase Inc. has started a manufacturing unit at Chakan near here, hoping to further consolidate its position in the Indian markets, an official said here Tuesday.

The place will help enhance the services and logistics Steelcase provides to its growing Indian customer, giving timely delivery of products and services, tailor-made to suit the Indian clientele, said Uli Gwinner, president, Steelcase Asia Pacific.

Pune's German Bakery blast convict to hang

Himayat-BaigPune, April 18 : A Pune court Thursday sentenced German Bakery blast convict Himayat Baig to death for his role in the terror attack which left 17 people dead in February 2010.

Three days ago, Pune sessions court Special Judge N. P. Dhote had held Baig guilty in the case in which he was the lone accused arrested.(IANS)

Bharti Airtel to launch 4G-based voice calling services in Pune

Bharti Airtel to launch 4G-based voice calling services in PuneIndia's leading telecomservice provider, Bharti Airtel has confirmed reports that it is planning to launch new 4G-based voice calling services in Pune.

The company will become the first in the country to offer both voice and data based plan based on the 4g network in the country. Airtel said that it will launch the services based on the fourth generation TD-LTE network in the western Indian city.

President to open Iskcon Vedic Cultural Centre in Pune

President to open Iskcon Vedic Cultural Centre in PuneNew Delhi, Feb. 24 : President Pranab Mukherjee will undertake a one day visit to Pune on Sunday  to inaugurate the Vedic Cultural Centre of the International Society for Krishna Consciousness (ISKCON).

The Vedic Cultural Centre at Pune built by ISKCON is expected to become a spiritual, architectural and educational landmark of Pune. 

It includes two temples, an educational centre for training students in Vedic knowledge and a hall where over 5,000 people will be served free food every day.   (ANI)

Pune astronomers study behavioral changes in a dead star

Pune astronomers study behavioral changes in a dead starAstronomers working on a giant radio telescope in the western Indian city of Pune have help increase understanding of behavioral changes in a dead star.

The star in the outer space is believed to be unusual due to its radio waves and the scientists are already working solve the mystery and developing physics theories to explain its characterizes. An international team of researchers spotted the chameleon pulsar that changes its fundamental characteristics within seconds.

Mumbai FC face tough test against leaders Churchill Bros

/Mumbai-FCPune, Jan 23 : Mumbai FC will have their task cut out when they host table-toppers Churchill Brothers SC in I-League Round 18 encounter at the Shiv Chhatrapati Sports Complex, Balewadi here Thursday.

The hosts go into the game high on confidence after beating Prayag United SC 2-1 Saturday. Coach Khalid Jamil praised his side's performance after they played their hearts out. The win also helped Mumbai FC achieve the double over the team from Kolkata.

The Balewadi Stadium has proved to be a happy hunting ground for the hosts as they have lost only once while winning six and drawing two of the nine matches played at the venue so far.

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