Finance

Banks’ credit growth was up 6.02 per cent to Rs 76,58,212 crore in the fortnight ended 9 June from Rs 72,22,939 crore in the same period of fiscal 2016.   The growth advances in the period...
Jun 22, 2017
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The Securities and Exchange Board of India (Sebi) has decided to issue a discussion paper on easing registration of foreign portfolio investors (FPIs). Markets regulator said it wants to ease the...
Jun 22, 2017
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In a second window post demonetisation, banks, post offices and cooperative banks have been allowed to deposit junked Rs 500 and Rs 1,000 notes with the central bank by July 20. "Such specified...
Jun 22, 2017
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The Government of India has notified 18 sections relating to registration of current central excise, service tax and VAT payers with the GST Network (GSTN) as well as transitional provisions under...
Jun 21, 2017
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Indian Accounting Standards (IND AS) have been made applicable by the central government, in a phased manner from financial year (FY) 2016-17. Since its implementation, taxpayers have expressed...
Jun 21, 2017
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Due to the changes proposed to the Prevention of Corruption Act, 1988 (POCA), liability of commercial organisationss under POCA and vicarious liability of directors and officer-in-charge of...
Jun 21, 2017
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Imagine yourself as a top executive in a company hit by a major crisis within the last 72 hours. First, and most importantly, there may have been serious damage to the community in which you...
Jun 21, 2017
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Q: Some experts feel GST rollout from July ​may lead to chaos.​ What are the reasons behind this opinion? Vishesh Chandiok: It is true that the multiple rounds of deliberations and differences of...
Jun 21, 2017
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One of the largest e-commerce players in the US was recently hit by a fraud scheme run from its resource centre in India, which resulted in losses running into several crores of rupees. The scheme...
Jun 21, 2017
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Entrepreneurs typically focus on setting up and building new businesses, raising capital, defining products, processes, etc. However, they must not forget to look at developing a strong culture in...
Jun 21, 2017
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In the wake of many states announcing loan waiver for farmers, Finance Minister Arun Jaitley ruled out any waiver of farm loans, asserting the Centre will adhere to fiscal targets, including fiscal...
Jun 21, 2017
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In accordance with international standards, the skill development and entrepreneurship ministry is all set to come out with a definition of skills (two years after the launch of the Skill India...
Jun 21, 2017
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“Every industry and every organisation will have to transform itself in the next few years. What is coming at us is bigger than the original internet and you need to understand it, get on board...
Jun 20, 2017
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The Reserve Bank of India's move on insolvency proceedings on 12 large loan defaulters is credit positive for Indian banks, said Moody's Investors Service on Monday, adding it will improve their...
Jun 20, 2017
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The Central Hall of Parliament will host a midnight function on June 30 to launch the new tax regime Goods and Services Tax (GST).   The government will use the Central Hall to launch the new...
Jun 20, 2017
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In its bid to counter China’s One Belt One Road (OBOR) project, India on Monday ratified the United Nations TIR Convention.   India is now the 71st country to join the international customs...
Jun 20, 2017
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Those traders and dealers who have not finished their registration process can continue to do their business from July 1 under the Goods and Services Tax (GST) regime using the provisional ID, a...
Jun 20, 2017
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Stating that the Brazil-Russia-India-China-South Africa (BRICS) nations have reached understanding on matters such as security and counter terrorism, Minister of State for External Affairs General V...
Jun 20, 2017
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Industry body Assocham is of the view that India Inc needs more time to get ready for implementation of India's biggest indirect tax reform. Assocham Secretary General D.S. Rawat has written a...
Jun 19, 2017
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The Goods and Services Tax (GST) Council should consider reducing the tax rate on man-made fibres, filaments and yarns from 18 per cent to 12 per cent, demanded the textile industry.   ...
Jun 19, 2017
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 Switzerland has ratified automatic exchange of financial account information with India and 40 other countries to help check black money deposits.   As per the Swiss Federal Council, the...
Jun 19, 2017
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According to a report by the US economists of Bank of America Merrill Lynch (BofAML), the Reserve Bank of India (RBI) is likely to step up forex buying and could as well go for a 25 basis points...
Jun 16, 2017
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In the wake of reports that builders are forcing customers to pay the entire cost of the flat before July 1 or face higher tax, the Central Board of Excise and Customs (CBEC) has warned builders to...
Jun 16, 2017
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Ahead of the Goods and Services Tax (GST) implementation from July 1, various retail stores have announced big discounts on electronics, home appliances, clothes, footwear and other items.   ...
Jun 15, 2017
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Expressing concern over “stress” in the telecom sector, four leading banks have asked the government to hike liquidity in troubled telecom companies. In a meeting with an inter-ministerial group (...
Jun 15, 2017
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Due to high bad loans and negative return on assets, public sector Central Bank of India has been placed under the Reserve Bank of India's watchlist on Prompt Corrective Action (PCA).   The...
Jun 15, 2017
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The Union Cabinet chaired by the Prime Minister Narendra Modi, on Wednesday, approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017.    The bill provides...
Jun 15, 2017
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In order to resolve the bad loan crisis, the internal advisory committee (IAC) of Reserve Bank of India (RBI), on Monday, identified 12 defaulters for resolution under the Insolvency and Bankruptcy...
Jun 14, 2017
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Good and Services Tax (GST) will be rolled out from July 1 and preparations are in full swing for its smooth implementation across the country, the government said as it sought to dispel rumours of...
Jun 14, 2017
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IDBI Bank has announced plans to establish an exclusive vertical to recover their mounting non performing assets (NPAs), according to a PTI report. “Our total NPAs stand at approximately Rs 45,500...
Jun 14, 2017
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Traders would have to declare only their GST Identification Number at the time of import or export after the implementation of the Goods and Services Tax (GST) on July 1, according to the Commerce...
Jun 13, 2017
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In order to bring in transparency and efficiency, subscribers of the Atal Pension Yojna (APY) will have to link their Aadhaar to their accounts to avail financial help up to Rs 1,000, said the...
Jun 13, 2017
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The industry repeated its demand for an interest rate cut by the Reserve Bank of India (RBI) to boost growth and consumer demand as India’s industrial output growth slipped to 3.1 per cent in April...
Jun 13, 2017
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The Goods and Services Tax (GST) Council will examine the concerns of trade and industry regarding the rates and the rollout of the new tax regime, said Union minister Arjun Ram Meghwal.    If...
Jun 12, 2017
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To deal with bad loans, the Finance Ministry is scheduled to debate on two innovative suggestions made by the latest Economic Survey -- Universal Basic Income (UBI) and creation of bad bank, said...
Jun 12, 2017
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Over 60 per cent of the software used by companies across India is not regulated and is more prone to cyber attacks such as phishing, website intrusions and defacements, virus and denial of service...
Jun 12, 2017
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Demonetisation, announced last year, may continue to result in slowing down of the economy and adversely affect businesses in India, said country's largest lender SBI.   The long-term impact of...
Jun 12, 2017
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To interact with sectors such as telecom, banking and export, the GST Council has set up 18 sectoral groups. They will sort out their issues in a time-bound manner for a easy transition to the new...
Jun 09, 2017
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In its latest report, Moody’s has highlighted a key issue facing the banking sector. It is estimated that the country’s large state-owned banks would require about Rs 70,000 crore to Rs 95,000 crore...
Jun 09, 2017
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Ahead of GST roll-out from July 1 –  the most important tax reform since independence, Finance Minister Arun Jaitley has solicited support from members of Parliament and state legislatures to...
Jun 09, 2017
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India needs open markets to grow at 8-10 per cent, said Chief Economic Adviser Arvind Subramanian, expressing concern over growing protectionism in global markets.   He further said India...
Jun 09, 2017
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Although consumers will pay a slightly higher tax while purchasing gold after the implementation of Goods and Services Tax (GST) from July 1, its overall impact on the gold industry will be good,...
Jun 09, 2017
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With an aim to create a bigger financing firm for the sector, the finance ministry is looking at the possibility of merger of India Infrastructure Finance Company (IIFCL) and Industrial Finance...
Jun 09, 2017
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Prime Minister Narendra Modi said that the Foreign Direct Investment (FDI) has witnessed a huge jump from $34,487 billion to $61,724 billion since 2013.    About the Goods and Services Tax (GST...
Jun 08, 2017
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As the government has abolished the Foreign Investment Promotion Board (FIPB), it will soon come up with the standard operating procedure (SOP) for the clearance of foreign investment proposals...
Jun 08, 2017
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To boost clean energy, the government has approved an IPO of Indian Renewable Energy Development Agency (IREDA). The Cabinet Committee on Economic Affairs (CCEA) on Wednesday allowed the govt's...
Jun 08, 2017
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Note ban announced last year hasn’t affected the economic growth of the country, the RBI said, while citing "surprises" like dip in inflation as well as GDP growth for maintaining status quo on...
Jun 08, 2017
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The Reserve Bank of India (RBI) has warned that the fiscal situation can get out of control if states unabatedly continue to waive farm loans.    Moreover, if the situation remains the same, it...
Jun 08, 2017
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The Reserve Bank on Wednesday said about 83 per cent of the currency has been remonetised so far. It also clarified that there was no shortage of cash in the system.   "According to our latest...
Jun 08, 2017
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The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.25 per cent in its monetary policy review on June 7, the second bi-monthly review for the financial year 2017-18.   ...
Jun 07, 2017
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