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India, Mozambique ink MoU for cooperation in oil, gas sector

India today signed a Memorandum of Understanding, MoU, with Mozambique for cooperation in the field of oil and gas. The MoU was signed in the presence of Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan in New Delhi. It seeks cooperation in the areas of upstream and down...


Oil plunges to 4 year low after OPEC refuses to cut production output

The OPEC has decided not to cut its oil output target. The decision was announced by OPEC Secretary-General Abdallah Salem el-Badri in Vienna yesterday. He said they would not try to shore up prices by reducing production. The decision to maintain a production target of 30 million barrels...


RBI issues final norms for payment, small banks; Floor capital set at Rs 100 crore

The Reserve Bank of India has issued final norms for payment banks and small finance banks that would allow mobile firms and supermarket chains, among others, to enter the banking arena to cater to individuals and small businesses. The move aims at deepening financial inclusion and boost saving habi...


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