New Delhi: India will start getting details of bank accounts held by its citizens in Switzerland from September, ending the era of Swiss bank secrecy. The development is a major success of the Modi government’s fight against black money ever since it first came to power in 2014. “India will receive information of the calendar […]
Chennai: Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. “Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When […]
New Delhi/Mumbai: Seeing big opportunity in the country’s non-alcoholic malt-drink market — a niche but potentially a high-volume category — global biggies such as Coca-Cola and Heineken have entered the beverage segment. A non-alcoholic malt drink is a high energy beverage, brewed in the same fashion as beer or ale. The beverage generally contains under […]
Chennai: Finance Minister Nirmala Sitharaman on Sunday said that the government is consulting several sectors of the economy and the recent announcement are result of such consultations. Speaking to reporters here days after the mega bank mergers, Sitharaman said that she was ready to talk to representatives of every sector whoever approached her. She said […]
New Delhi: In an apparent sign of economic slowdown, India’s GST collections in August dropped to Rs 98,202 crore from over Rs 1.02 lakh crore in the previous month, the finance ministry said on Sunday. However, total Goods and Services Tax (GST) mop-up for August this year was 4.5 per cent higher than the Rs […]
Chennai: Finance Minister Nirmala Sitharaman on Sunday said that the GST Council will take the final call on reducing the tax rate on motor vehicles. Speaking to reporters here, she said that the government is addressing the issues of the automotive segment on the backdrop of the recent slowdown in sales. “One of the suggestion […]
San Francisco: Signal boosters can reportedly disrupt entire networks and now retail giant Amazon has been found selling unlicensed mobile phone signal boosters. The Federal Communications Commission (FCC) started tightly regulating signal boosters five years ago as the devices, if misconfigured or poorly manufactured, can knock out service for everyone who happen to be close […]
The Budget this year presented in July mandated some income tax changes that have come into effect from September 1, 2019. Here are some of the changes that will affect the individuals as much as corporate/companies or business establishments. The government has introduced a new Section called 194N in income tax laws under which cash […]
New Delhi: With the Reserve Bank of India (RBI) extending the deadline for mobile wallets to become fully Know Your Customer (KYC) compliant, people using PhonePe, Paytm, Amazon Pay or other such wallets will have no trouble doing their transactions as usual at least till February 29, 2020. The deadline for mobile wallets to become […]
New Delhi: Ahead of the commercial launch of Jio Fibre on Thursday, Bharti Airtel on Monday announced the launch of Airtel Xstream which will offer Live TV, video, music, news, and sports across an OTT smart stick, Internet-enabled set top box and hand-held devices. The Sunil Mittal company launched a set top box (STB) along […]
Mumbai: The rupee tumbled by 67 paise to 72.09 against the US currency in early trade on Tuesday, tracking weak opening in domestic equities amid strong dollar demand from banks and importers. Forex traders said the US tariffs on imports from China took effect on Sunday and were followed later by Beijing’s retaliation. Following this […]
Mumbai: State-run banks on the exchanges traded on a weak note during the early trade on Tuesday after the government announced plans to merge 10 public sector banks into four. Punjab National Bank which will be merged with the Oriental Bank of Commerce and United Bank of India, fell over 7 per cent, the most […]
Chennai: Commercial vehicles major Ashok Leyland Ltd on Tuesday claimed that it is the first Indian original equipment manufacturer (OEM) to meet the BS-VI emission norms for all its heavy duty trucks. In a statement issued here, the company said its full range of heavy duty trucks — Gross Vehicle Weight (GVW) 16.2 ton and […]
New Delhi: The government on Tuesday approved over Rs 9,000 crore capital infusion in IDBI Bank with a view to increasing the lender’s capital base. The Union Cabinet has cleared re-capitalisation of IDBI Bank with one-time infusion of funds by both the government and the LIC, Information and Broadcasting Minister Prakash Javadekar told reporters here. […]
Mumbai: Investor panic over the country’s lower than expected GDP growth figure of 5 per cent in the first quarter ending June, released last week, led the key market indices to decline by over 2 per cent on Tuesday. Consequently, the India ‘VIX’, or the volatility index — the market expectation of volatility over the […]
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