Business

India’s GDP is expected to grow at 7.3 per cent in the fiscal year 2018-19, and 7.5 per cent in the following two years, the World Bank has forecast, attributing it to an upswing in consumption and investment. The bank said India will continue to be the fastest growing major economy in the world. China’s economic growth is projected to ...

DAINIK NATION BUREAU State Bank of India (SBI) customers holding regular savings accounts with the lender are required to maintain a monthly average balance (MAB) to the tune of Rs. 1,000-3,000, according to bank’s corporate website- sbi.co.in. The monthly average balance, which is the average of end-of-day balances in the savings account in a month, varies depending on the location ...

DAINIK NATION BUREAU Reserve Bank of India has appointed infosys cofounder Nandan Nilekani in a committee. The Reserve Bank of India (RBI) on Tuesday announced formation of a high-level panel to assess digitisation of payments in the country. The Committee on Deepening of Digital Payments will be chaired by Nandan Nilekani, the RBI said in a statement. The committee, which ...

DAINIK NATION BUREAU Indian economy is expected to grow at 7.2 per cent in 2018-19, a tad higher from 6.7 per cent in the previous fiscal, mainly due to improvement in the performance of agriculture and manufacturing sectors, the Central Statistics Office (CSO) said Monday. The CSO estimate is, however, a bit lower than 7.4 per cent growth projected by ...

The Government is planning to set up a Credit Guarantee Fund (CGF) for encouraging start-up companies with a view to providing funding facilities in the country. The scheme has yet to be made operational. Incentives being provided to Startups under Startup India initiative are: Self-Certification under 6 Labour Laws & 3 Environmental Laws Relaxations in Public Procurement Norms Faster exit ...

DAINIK NATION BUREAU The printing of Rs 2000 banknote, introduced post-demonetisation in November 2016, has been reduced to the “minimum” by the Reserve Bank, a top finance ministry official said Thursday. Soon after the sudden decision to ban old Rs 500/1000 currency notes by the government, the Reserve Bank had come out with the Rs 2000 currency note along with ...

DAINIK NATION BUREAU The Cabinet Committee on Economic Affairs (CCEA) has approved the merger of state-run Vijaya Bank, Bank of Baroda and Dena Bank on wednesday. With these merger this would become become the third largest bank in the country, after SBI and ICICI Bank. It will be applicable by April 1, 2019. This was disclosed by the government by ...

The total gross GST revenue collected in the month of December, 2018 is Rs. 94,726 crore of which CGST is Rs. 16,442 crore, SGST is Rs. 22,459 crore, IGST is Rs. 47,936 crore (including Rs. 23,635 crore collected on imports) and Cess is Rs. 7,888 crore (including Rs. 838 crore collected on imports). The total number of GSTR 3B Returns ...

Reserve Bank of India has removed the restriction on opening a new account in Paytm Payments Bank. This stoppage on Paytm was related to violation of Know Your Customer (KYC) Rules. After the withdrawal, Paytm will now be able to open an account for its payment bank and e-wallet, although the company will have to follow the rules of Know ...

Continuing its winning streak for a fourth straight session Monday, the BSE benchmark Sensex surged over 150 points as investors maintained their bullish stance in early trade on positive cues from other Asian bourses. Strengthening rupee also supported the upward move in the domestic stock market, dealers said. The domestic unit gained paise 19 to 69.76 against the US dollar ...