Business

The Reserve Bank today left lending rates unchanged citing risks to inflation due to spurt in farm loan waivers by states but raised lending capacity of banks to support economic growth. The government has been pressing for a cut in interest rates to increase private investment and had sought a meeting with the members of the Monetary Policy Committee, but ...

The Income Tax Department on Friday warned of a 100 per cent penalty against receiver of cash of Rs 2 lakh or above. “Cash transaction of Rs 2 lakh or more is prohibited with effect from April 1. Contravention of Section 269ST (of the Income Tax Act of 1961) will entail a levy of 100 per cent penalty on the ...

The Centre is examining all options, including disinvestment and privatisation of Air India, in order to turnaround the state-owned airline burdened by a mountain of debt, top aviation ministry officials said. A decision on the future course of actions for Air India is expected to be taken within three months. The ministry is working on a number of suggestions given ...

The Employees’ Provident Fund Organisation (EPFO) will invest Rs. 20,000 crore in exchange-traded funds this fiscal year as it has decided to raise the investment limit, Union Minister Bandaru Dattatreya said on Sunday. “Yesterday, the Employees Provident Fund Organisation Central Board of Trustees meeting held in Pune agreed on the proposal for raising ETF investments from 10 to 15 per ...

The world’s most popular cryptocurrency is now worth over $2,000 per coin.  That’s according to a range of bitcoin exchanges, including Coinbase and Kraken. That valuation puts the total market cap of bitcoin — the total number of coins in circulation — at $32.92 billion. Bitcoin first broke the $1,000 valuation mark way back in 2013, but a combination of ...

The GST (Goods and Services Tax) Council on Friday finalised tax rates for services. Education and healthcare have been exempted from the GST regime. “India has finalised four tax rates that will apply to services including telecoms, insurance, hotels and restaurants under a new sales tax which should be rolled out on July 1,” Finance Minister Arun Jaitley said. The ...

Setting the stage for rollout of goods and services tax (GST) from July, the Centre and states on Thursday decided on rates for specific products which may lead to lower prices for a majority of products of mass consumption. The idea is to ensure that the impact of GST is not inflationary. Rates on 1,211 items were finalised by the ...

ICICI Bank Ltd, India’s largest private sector bank, on Monday slashed interest rates by up to 30 basis points for borrowers availing home loans up to Rs30 lakh. Mortgage leader Housing Development Finance Corp. Ltd (HDFC) also lowered lending rates by 30 bps, matching those offered by State Bank of India (SBI) and ICICI Bank. ICICI’s decision comes close on ...

Market benchmark Nifty crossed the 9,400-level for the first time, while the Sensex surged to its lifetime high of 30,246.28 in late afternoon trade on Wednesday on widespread buying spurred by forecast of a normal monsoon this year. The 50-issue Nifty gained 89.90 points, or 0.96 per cent, to trade at 9,406.75, surpassing its previous intra-day high of 9,377.10 touched ...

The year 2016-17 is in real sense Exceptional Year with Exponential Growth for THDC India Limited (THDCIL). The Corporation has excelled in almost all the areas such as Capacity Addition, Energy Generation, Revenue Realization, Fiscal management. In Renewable Sector the Corporation has successfully Commissioned 02 Wind Projects (50MW Patan & 63 MW Dwarka in Gujarat) registering its presence in Western ...