India News

TRS calls for Telangana bandh

The Telangana Rashtra Samiti (TRS) has called for a Telangana shutdown today to protest the Narendra Modi-led government's reported move to issue an ordinance merging certain villages in Khammam district into residuary Andhra Pradesh.

Telangana chief minister-designate, K. Chandrasekhar Rao on Tuesday said that his government would oppose the Central ordinance on Polavaram project aimed to transfer the seven mandals of Khammam district to Seemandhra state.

Australia says missing Malaysia Airlines jet not where pings heard

Australian search officials said on Thursday they had finished searching an area near where four acoustic signals thought to be related to a missing Malaysian jetliner had been picked up, and had now discounted it as the final resting place of the plane.

Authorities narrowed the search for the missing Malaysia Airlines jet last month after picking up a series of pings near the site where analysis of satellite data put the last location of the plane some 1,600 km (1,000 miles) off Australia's northwest.

US author, poet, rights activist Maya Angelou dies at 86

American author and poet Maya Angelou, whose groundbreaking memoir I Know Why the Caged Bird Sings earned her international acclaim with its unflinching account of rape and racism in the segregated South, died on Wednesday at age 86.

The prolific African-American writer, known for her lyrical prose and regal speaking voice, died quietly at her home in Winston-Salem, North Carolina, Angelou's family said in a statement. No cause of death was given.

Rupee rises for 1st time in 4 days, up 11p

The rupee on Wednesday rose for the first time in four days and closed 11 paise higher at 58.93 against the US dollar following late selling of the American currency by exporters, amid stable local equities.

In the previous three days, the rupee had fallen 57 paise or nearly one per cent on equity-linked capital outflows.

RBI on inoperative foreign currency accounts

In a bid to manage unclaimed deposits, the Reserve Bank of India (RBI) has authorised banks to convert into rupee the credit balance in any inoperative foreign currency denominated deposit.

According to RBI, if a foreign currency denominated deposit with a fixed maturity date remains inoperative for a period of three years from the date of maturity of the deposit, at the end of the third year, the bank shall convert the balances lying in the foreign currency denominated deposit into rupee keeping in mind the exchange rate prevailing as on that date.

Bancassurance issue: Life insurers move towards non-bank distributors

Life insurance companies are looking to engage with non-bank distributors, in the backdrop of a lack of clarity on the delay in implementation of the bank-as-broker model and the need to expand their business.

Insurers, especially those not promoted by banks, are now looking to tie-up with other channels like large insurance brokers. They say they are moving away from bancassurance, not only due to the absence of clarity on the guidelines but also due to this channel reaching a saturation point.

Cong leader resigns from State Bank of India board

Deepak Ishwarbhai Amin, the Congress leader who was also a director on the board of State Bank of India, the country's largest lender, has resigned from the bank's board. The central board of SBI accepted his resignation at its meeting held on May 23, the lender said in a communication to the stock exchanges. Amin was appointed by the government on the SBI board in January 2012.