Finance

The Income-Tax department has promoted its over 65 officers to the position of Principal Commissioners.    The move is aimed to hasten its process to check shell companies.   The government...
Aug 21, 2017
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Prime Minister Narendra Modi has recently met upcoming entrepreneurs and now he will meet more experienced entrepreneurs from the industry to discuss policy inputs to build a ‘New India’.   ...
Aug 21, 2017
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State Bank of India accounts for over 27 per cent of the total amount owed to public sector banks by wilful defaulters.    As on March 31, there were about 1,762 wilful defaulters, who owed Rs...
Aug 21, 2017
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To curb money laundering and other malpractices through the stock market, the Securities and Exchange Board of India (SEBI) is likely to link Aadhaar to all financial market transactions, as per a...
Aug 21, 2017
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The government is reportedly mulling over setting up a new mechanism in order to put possible public sector banking mergers on fast track. The idea is to push consolidation in the banking sector, an...
Aug 21, 2017
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The ongoing spat between Infosys founders and management over MD and CEO Vishal Sikka has resulted into Sikka's departure from the Bangalore-based IT firm, according to corporate governance experts...
Aug 18, 2017
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In its second bi-monthly Monetary Policy Committee (MPC) meeting, the Reserve Bank of India (RBI) has projected quarterly average headline inflation in the range of 2-3.5 per cent in the first half...
Aug 18, 2017
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After State Bank of India (SBI) and a couple of other lenders, HDFC Bank, Punjab National Bank (PNB) and YES Bank have also announced a rate cut on their savings bank interest rates. With the...
Aug 18, 2017
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The state-run banks are more stressed than their private sector counterparts.    According to a recently released CARE Ratings report, public sector banks (PSBs) figure among the top 20 banks...
Aug 18, 2017
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Over 200 entrepreneurs and startup founders from the financial, education, health and other major sectors brainstormed and pitched for continuity and predictability of pricing as well as ease of...
Aug 17, 2017
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Citing reasons that low food prices were unusual and vulnerable to upward pressures, RBI Governor Urjit Patel had pushed for a moderate rate cut of 25 basis points, said minutes of the Monetary...
Aug 17, 2017
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The Telecom Regulatory Authority of India (TRAI) has proposed setting up of Cloud Services Advisory Group (CSAG) as oversight body to periodically review the progress of cloud services and suggest...
Aug 17, 2017
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In the wake of rising non-performing assets (NPAs), there may be a need for the government to set up industry committees to determine the valuation of large stressed accounts and get large public...
Aug 16, 2017
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The weaker Chinese currency Yuan will intensify a flood of cheap Chinese goods into India. It is likely to hurt India’s factories and blow out its biggest bilateral trade deficit, said Soumya Kanti...
Aug 16, 2017
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Prime Minister Narendra Modi said his government would intensify the fight against black money and would lead the country on a new track of economic progress in days to come.     In his address...
Aug 16, 2017
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The month of July witnessed a low level of domestic mergers and acquisitions (M&A) transactions this year valued at $400 million compared to the same month last year and the reason could be...
Aug 14, 2017
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India will be under extreme pressure to raise its offer on eliminating tariffs on goods at the trade ministers’ meeting of Regional Comprehensive Economic Partnership (RCEP) countries to be held in...
Aug 14, 2017
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The Indian economy is going to enter in its strongest growth phase, said a report adding a full blown bull market is yet to play out with the wide-based Nifty expected to touch 11,500 in 2018...
Aug 14, 2017
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The tax-GDP ratio will see an increase of 30 basis points (bps) each in 2018-19 and 2019-20 due to the impact of demonetisaion and the roll-out of the Goods and Services Tax (GST), according to the...
Aug 11, 2017
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Introduction of the bill in the Lok Sabha seeking to deal with insolvency of financial service providers is a significant step, Economic Affairs Secretary Subhash Chandra Garg said.   The...
Aug 11, 2017
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The government on Thursday made a surprise introduction in the Lok Sabha of ‘The Code on Wages’ Bill. The Bill seeks to empower the Centre to fix a “universal minimum wage” for all categories of over...
Aug 11, 2017
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In a move likely to hurt the Finance Ministry’s Budget arithmetic, the Reserve Bank of India has halved its dividend payment to the government to Rs 30,659 crore for the year ended June 2017....
Aug 11, 2017
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The Institute of Chartered Accountants of India has constituted Digital Accounting and Assurance Board (DAAB), which will act to foster a strategy on aspects related to digital accounting and...
Aug 11, 2017
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Under the Goods and Services Tax (GST) regime, the government has notified the timeline for furnishing final tax returns for the month of July and August.   In June, the GST Council and...
Aug 10, 2017
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As demonetisation of higher denomination currency brought in more number of individuals in tax net, direct tax collections jumped 19 per cent in the first four months of the current fiscal.   ...
Aug 10, 2017
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India has lent an ear to domestic players in its attempt to provide a level-playing field to the industry plagued by Chinese products. The Government has imposed anti-dumping duty on 93 products...
Aug 10, 2017
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The government has struck off 1.63 lakh companies from register who were not doing business for long.    It has followed the process under Section 248 of the Companies Act 2013 for de-...
Aug 10, 2017
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With an aim to incorporate fresh thinking into policy-making, Prime Minister Narendra Modi will soon interact with young entrepreneurs from all over the country and across sectors. The participants...
Aug 10, 2017
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As a result of Budget advancement by a month, the government's expenditure went up 27 per cent in April-June of the current fiscal to over Rs 6.50 lakh crore, Finance Minister Arun Jaitley said...
Aug 09, 2017
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The Securities and Exchange Board of India (Sebi) has asked stock exchanges to take action against 331 listed firms, which are alleged to be shell companies as per the Ministry of Corporate Affairs...
Aug 09, 2017
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The online facility for filing first tax returns under the new Goods and Services Tax (GST) regime is fully functional now. All the businesses need to do is just log into their account at the GSTN...
Aug 09, 2017
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As a result of demonetisation and operation clean money, there is a substantial increase in the number of Income Tax Returns (ITRs) filed, said the tax department, adding ITRs filed for 2016-17...
Aug 08, 2017
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The Centre will amend the GST Act, 2017 to hike the compensation cess on SUVs, mid-sized, large and luxury cars after the Goods and Services Tax (GST) Council proposed to increase it to 25 per cent...
Aug 08, 2017
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Banks, in consultation with the Reserve Bank of India, have decided not to extend loans to the real estate projects which are not registered under RERA.   "We have to look for some security...
Aug 08, 2017
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The government has collected Rs 8.5 lakh crore as income tax on individuals and businesses, in 2016-17, according to an estimate by the income tax (I-T) department.    The collection was 14.5...
Aug 08, 2017
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The roll-out of goods and services tax (GST) had its impact on the services sector, with its activity in July falling to its lowest level in four years.   The Nikkei India Services PMI Business...
Aug 04, 2017
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The Lower House of Parliament, on Wednesday, passed a bill to replace the NPA ordinance, which was promulgated on May 7 this year.   The bill “The Banking Regulation (Amendment) Bill, 2017”...
Aug 04, 2017
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More than 60 per cent of marketers in India are of the view that new-age technologies will impact their workplace practices and consider it the next big disruptor in the industry, said a report...
Aug 04, 2017
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To enable exit of the Reserve Bank of India (RBI) from Nabard and increase authorised capital of the development institution six times to Rs 30,000 crore, a bill has been passed by the Lok Sabha...
Aug 04, 2017
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As India’s role is expanding in the global arena, Niti Aayog Vice-Chairman Arvind Panagariya has suggested to Prime Minister Narendra Modi to find a full-time Sherpa for G20 talks.   ...
Aug 03, 2017
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Indian Cellular Association (ICA) has criticised the business climate in the country saying cumbersome processes have emerged out of distrust between tax officials and customs authorities.  ...
Aug 03, 2017
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The Security and Exchange Board of India (Sebi) has taken action against officials of MCX  and its promoter Financial Technologies India Ltd (FTIL) for alleged insider trading in 2012.  It is...
Aug 03, 2017
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More than 31 per cent of the chief financial officers (CFOs) across India feel the roll-out of GST is most challenging for them, says a survey report conducted by Deloitee. As per CFOs, who were...
Aug 03, 2017
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The Reserve Bank of India (RBI) cut repo rate by 25 basis points to 6 per cent in its latest monetary policy review, reducing the key policy rates for the first time in this fiscal as expected...
Aug 02, 2017
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The Reserve Bank of India (RBI) is likely to cut rate on August 2 by a quarter percentage point to a more than 6-1/2 year low after inflation slumped.    RBI will cut its repo rate by 25 basis...
Aug 02, 2017
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The GST Council will meet on August 5 to finalise a mechanism to operationalise anti-profiteering clause which seeks to pass on the benefits of reduction in taxes to consumers, Finance Minister Arun...
Aug 02, 2017
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The government has witnessed 21.4 per cent year-on-year growth in direct tax collection at over Rs 1.80 lakh crore in direct tax till July 15 in the current fiscal, a PTI report said. “The current...
Aug 02, 2017
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The Government of India is aggressively spending this fiscal. Over 30 per cent of budget committed for the year has already exhausted in the March-June quarter.    According to a data released on...
Aug 01, 2017
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With the retirement of Deputy Governor S.S. Mundra, the Reserve Bank of India (RBI) has allocated his portfolios to other deputy governors.    The banking supervision department will be looked...
Aug 01, 2017
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Talks have been initiated to constitute the next Finance Commission, which would suggest principles for sharing taxes between the Centre and the State and allocation of each State for the five-year...
Aug 01, 2017
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