The Reserve Bank of India has imposed a penalty of ` 1.00 lakh (Rupees One Lakh only) on Kasundia Co-operative Bank Ltd., Howrah in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 for violation of the provisions of Section 35A of the Banking Regulation Act, 1949 (AACS) relating to imposition of directives, for resorting to borrowings without prior approval from Reserve Bank of India.

MUMBAI - Construction of a state-of-the-art indigenously designed nuclear power plant unit began Monday in Gujarat, an official said here.

NEW DELHI - The environment ministry Monday cleared the Navi Mumbai airport, paving the way for a second airport to ease air traffic in Mumbai.

NEW DELHI - The much awaited mobile number portability (MNP), which allows subcribers to change their mobile operators while retaining their old number, will be inaugurated Thursday in Rohtak district of Haryana.

The Reserve Bank of India’s Reference Rate for the US dollar is ` 45.29 and the Reference Rate for Euro is ` 62.27 on November 22, 2010. The corresponding rates for the previous day (November 19, 2010) were ` 45.26 and ` 61.78 respectively. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of GBP and Japanese Yen against the Rupee are: