Business News Updates

New Delhi: The Centre will disburse GST compensation cess amounting to Rs 20,000 crore to the state government on Monday night, Finance Minister Nirmala Sitharaman said. The decision was taken during the GST Council meet held on Monday. Related Story: Central Revenues Under More Strain Than GST Revenue: Centre To States Besides, Sitharaman said that […]

Bengaluru: Flipkart on Tuesday said it will unveil over 200 special edition products in partnership with more than 100 leading brands during its ‘Big Billion Days sale that begins from October 16 till October 21. The products will be across categories including fashion, electronics, mobile phones, large appliances, personal care, handicrafts and others. “The phenomenal […]

New Delhi: The government has exempted power trading transactions from the purview of tax deducted at source (TDS) and tax collected at source (TCS) to prevent practical difficulties in implementing the levy from affecting functioning of the exchanges. The Finance Act, 2020 inserted new section 194-0 in the Income Tax Act 1961 which mandated that […]

New Delhi: Dinesh Kumar Khara on Wednesday took charge as the new Chairman of the State Bank of India (SBI) for a period of three years. He succeeds Rajnish Kumar, whose term ended on October 6. Khara was appointed the Chairman on Tuesday. Prior to his new role, he was Managing Director, Global Banking & […]

New Delhi: The Centre on Wednesday appointed M. Rajeshwar Rao as the Deputy Governor of the Reserve Bank of India (RBI). Rao is currently an Executive Director with the central bank. “The Appointments Committee of the Cabinet has approved the appointment of M. Rajeshwar Rao, Executive Director, Reserve Bank of India to the post of […]

Singapore/New Delhi: Mukesh Ambani remains at No. 1 for the 13th year in the Forbes List of Indias 100 Richest, as the tycoon added $37.3 billion, bringing his fortune to $88.7 billion, a rise of 73 per cent. Amid the Covid-19 pandemic which hit India hard and led to a sharp economic contraction, half of […]

New Delhi: Increasing its stake in its ongoing fight with Google, leading digital payments platform Paytm on Thursday announced a Rs 10-crore fund for mini apps developers in the country. Addressing a mini apps developer conference, Paytm Founder Vijay Shekhar Sharma said that he is targeting “at least one million mini apps” to put an […]

Mumbai: Maintaining status quo for the second time in a row, Reserve Bank of India on Friday decided to keep benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis. The benchmark […]

Mumbai: In order to promote the housing sector, Reserve Bank of India on Friday decided to rationalise risk weightage on housing loans, making the product attractive for both borrower and lenders. With revision in the risk weightage, the requirement of capital provision for banks will come down. This will encourage banks to push housing loan […]

New Delhi: Oil marketing companies (OMC) kept petrol and diesel prices unchanged for the 12th straight day across the four metro cities on Sunday. In the national capital, petrol was…

New Delhi: Online shopping is likely to get a new boost in the coming festival season, as around 51 per cent consumers are likely to shop online during the period, according to a recent survey. In the 2019 survey of ‘LocalCircles’, only 27 per cent of those planning festive spending had indicated using ecommerce sites […]

New Delhi: The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy. At a press conference, Finance Minister Nirmala Sitharaman said festival advance was discontinued from 6th Pay Commission for central government employees. […]

New Delhi: Paytm on Tuesday announced the same-day settlement facility for all kinds of fund transfers on its payment gateway that will help businesses that depend upon immediate availability of funds to pay down-stream partners. The feature can be accessed from Paytm Merchant Dashboard or Paytm for Business app. The minimum amount that can be […]

New Delhi: Fuel consumers did not face any change in petrol and diesel prices for one-third of a month as stable global oil prices ensured that oil marketing companies did not need to go for a revision. Diesel prices have stayed at the same level since last October 3, completing 11 days when the fuel […]

Washington: The Indian economy, severely hit by the coronavirus pandemic, is projected to contract by a massive 10.3 per cent this year, the International Monetary Fund said on Tuesday. However, India is likely to bounce back with an impressive 8.8 per cent growth rate in 2021, thus regaining the position of the fastest growing emerging […]