Indian information technology services are expected to have a growth rate of 11-13 per cent for FY16, lower than the forecast (‘guidance’) for FY15 of Nasscom, the sector's apex business association, says a study.

Based on a survey by research and advisory firm Offshore Insights, it predicts the sector will grow at 11.5 per cent for FY15, lower than Nasscom’s 13-15 per cent. Nasscom earlier this month said the sector might only manage to be at the lower end of its guidance.

Mumbai: Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank Ltd, expects the Reserve Bank of India (RBI) to reduce rates by an additional 50 basis points by the end of 2015. One basis point is one-hundredth of a percentage point.

Changing expectations about the timing of an increase in US interest rates could have an impact on the central bank’s ability to cut rates, Kotak said while speaking at the Kotak Institutional Equities investor conference, Millenium Makers of India, in Mumbai on Monday.

In growing use of technology, trading through mobile phones soared nearly three times last year at the National Stock Exchange, while Internet-based trades rose by 52%.

As per the latest data compiled by the NSE, the average daily turnover of trades through mobiles stood at Rs 156 crore in 2014, up from Rs 64 crore in 2013.

NEW DELHI: An over 16 percent growth in its passenger traffic helped national carrier Air India improve its ticket revenue by 8.4 per cent, which stood at Rs 1,500 crore in January over the period last year, an airline official said today.

Meanwhile, the carrier has also lined up sumptuous Indian cuisines, named after popular cricketers, to cater to its passengers on its flights to Australia for ICC World Cup there.

NEW DELHI: India's coal imports in January fell 21 per cent month-on-month as state-owned Coal India Ltd ramped up supply from new and existing mines, online trader mjunction said, a trend that is likely to continue this month.

Imports into the world's third-largest coal buyer is estimated to have risen 3 per cent to 15.79 million tonnes in January from a year earlier. Shipments were, however, much lower than the revised figure of 20 million tonnes for December, mjunction said.

It is called Swiss Leaks — a trove of secret documents from HSBC’s Swiss private banking arm that reveals names of account holders and their balances for the year 2006-07. They come from over 200 countries, the total balance over $100 billion. But nowhere has the HSBC Swiss list touched off a more raging political debate than in India.

Aam Aadmi Party (AAP) chief Arvind Kejriwal on Monday said that the party stood vindicated as the names it had revealed in connection with black money earlier is present in the HSBC bank's Geneva branch list naming 60 Indians and entities involved.

Taking it to micro blogging site, the AAP leader tweeted. "The names I revealed in a PC on 9 Nov 2012 are there in IE list today. We stand vindicated. But bigger Q is - what did 1st Cong and nw BJP do? Nothing? Why? Some of ths ppl claimto hv both BJP n Cong in thr pocket. Why doesn't BJP govt act against HSBC officials? They will spill beans. US did precisely that,"

Benchmark indices have extended losses and are trading near day’s low with Sensex and Nifty slipping over 1% weighed down by metal, auto and financials shares.

By 10:15, the Sensex was lower by 341 points at 28,377 whereas the Nifty has slipped by 100 points at 8,561 levels.

Shares of state-run ONGC are up over 1% to Rs 356 on the BSE on news that the disinvestment of 5 per cent stake in ONGC is unlikely this fiscal as the liquidity situation in the market is under stress after recent mega share sales while the subsidy issue remains unresolved.

The government on January 30 sold ten per cent stake in Coal India through an offer for sale and raised Rs 22,558 crore, close to one-third of which came from FIIs. While overseas investors put in about Rs 6,000 crore, retail investors pumped in close to Rs 2,000 crore in the issue.

Air India pilots have questioned the government’s move to penalise airline’s employees for any flight delay by way of cutting salary and said it will create an “unsafe” environment in the carrier.

“This futile exercise is going to be detrimental to flight safety as employees directly involved with the departure of a flight will try to cut corners in the safety practices in order to avoid delays,” said Indian Commercial Pilots Association (ICPA) in a letter to the management.

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