Ringing Bells starts refunding money to customers

Noida-based Ringing Bells, which has promised to sell smartphones for Rs 251 apiece, has started refunding money to customers due to negative speculation around its claim.

“There was a lot of negativity around us so we have decided to take money from customers only after delivering phones to them. We are refunding money to those who have paid for booking the phones and giving them an option of cash on delivery," Ringing Bells Director Mohit Goel said.

Budget 2016, Banks want govt to focus on public spending over fiscal deficit road map

Banks and financial institutions pitched for a delay in the fiscal deficit road map and for more focus on greater public spending to ensure economic revival, at a Budget 2016 meeting with Finance Minister Arun Jaitley on Tuesday.
The institutions also wanted incentives to encourage cashless transactions through debit/credit cards and rationalisation of interest rate of small savings schemes.
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The two-hour meeting saw heads of the country's public and private sector banks - including State Bank of India, Axis Bank, Bank of Baroda, ICICI Bank, LIC, IIFCL, IDBI Bank, NABARD, Citi Bank and L&T Finance Holdings - discuss key measures that could be introduced in the Budget 2016-17 to ensure economic growth revival.