World Bank to Cut 500 Jobs Globally, Create New Posts in India

Washington: The World Bank plans to slash 500 jobs in the next three years globally, even as it looks to create up to 300 new positions in India to meet business needs.

India says will take necessary steps to ensure financial market stability

NEW DELHI (Reuters) - India pledged on Thursday to take all necessary steps to ensure stability in financial markets as it tried to calm jitters over the U.S. Federal Reserve's decision to scale down its economic stimulus.

Direct tax collection poor at 40%, may add to slipping fiscal deficit target

NEW DELHI: The government's fiscal deficit target seems to be in fresh danger, with direct tax collections which contribute more than half of the central government's revenue being only 40% of the set target in the last eight months.

“Financial stability holds the key to economic growth”

Union Finance Minister Pranab Mukherjee said on Sunday that a sound and resilient banking sector, well-functioning financial markets, robust liquidity management, and payment and settlement infrastructure had become pre-requisites for financial stability.