Business

Disinvestment-bound Air India is seeking loan worth over Rs 1,100 crore for modification of two Boeing aircraft scheduled to be acquired next month for ferrying VVIPs, according to an official document. The two Boeing 777-300 ER aircraft are to be delivered in January 2018 and the cost for “modification in its (planes) interior configuration” is estimated to be USD 180 ...

DAINIK NATION BUREAU The Reserve Bank of India (RBI)  kept repo or key lending rate unchanged at 6 per cent amid inflation concerns. This was announced by RBI while disclosing the monetary policy committee report public today. The central bank reiterated that it is maintaining a “neutral” stance in monetary policy. Five members of the monetary policy committee voted to ...

Benchmark Nifty trimmed losses during fag-end trade to close marginally lower today following selling in metal, realty, IT, auto and infra stocks. Investors maintained their cautious stance ahead of RBI policy decision tomorrow. Negative global cues and weak Nikkei India services PMI data also weighed on sentiment. However, buying in media, energy, banking and financials sectors capped the losses. Overseas, ...

GST collections slipped almost 10 per cent to Rs 83,346 crore in October as tax rates on several product were cut and teething troubles with the new regime pushed back implementation of key provisions. As many as 50.1 lakh Goods and Services Tax (GST) returns filed for October resulted in a revenue of Rs 83,346 crore, down from over Rs ...

DAINIK NATION BUREAU ASSOCHAM has urged Uttarakhand government to urgently set up a special ‘investment monitoring task force,’ to ensure timely and effective implementation of live investment projects worth over Rs two lakh crore attracted by the state from global and domestic private and public sources as of FY-17 to create around 30,000 direct jobs in next five years. “Speeding ...

To provide a major boost to air connectivity in the Northeast, 92 new routes will be opened in the region in the second round of the government’s ‘Udaan’ scheme, Union Minister of State for Civil Aviation Jayant Sinha said in Imphal. Sinha also announced a direct bi-weekly Air India flight from Delhi to Imphal from January next year, which he ...

The government has not asked the Reserve Bank to pay any special dividend and is only seeking Rs 13,000 crore of surplus lying with the central bank, Economic Affairs Secretary Subhash Chandra Garg has said. In August, the RBI had paid a dividend of Rs 30,659 crore for the fiscal ended June 2017. It was less than half the Rs ...

Moody’s Investors Service (“Moody’s”) has upgraded the Government of India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. India’s rating has been upgraded after a period of 13 years. India’s sovereign credit rating was last upgraded in January 2004 to Baa3 (from Ba1). Government of India welcomes ...

Debt-laden Air India has received a loan worth of Rs 1,500 crore from Bank of India to meet urgent working capital needs less than a month after floating a tender in this regard, an airline source said. For the second time in recent months, the flagship carrier has received loans from a public sector lender. Battling multiple headwinds, the disinvestment-bound ...

The GST Council, in its 23rd meeting held at Guwahati on 10th November 2017, has recommended the followingfacilitative measuresfortaxpayers: Return Filing a) The return filing process is to be further simplified in the following manner: All taxpayers would file return in FORM GSTR-3B along with payment of tax by 20th of the succeeding month till March, 2018. For filing of ...