Business

DAINIK NATION BUREAU India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest. In a statement, the government also said that the companies will be prevented from entering into exclusive agreements with sellers. The new rules will be applicable from February 1. “An entity having equity ...

The government has prepared a revival plan for Air India that provides for a comprehensive financial package, differentiated strategies for each of the airline’s core businesses and robust organisational reforms, Union Minister Jayant Sinha said Thursday. Various initiatives to turnaround the national carrier, which is staying afloat on a bailout package extended by the previous government, including monetisation of real ...

DAINIK NATION BUREAU Among the series of defaults by various companies in 2018, IL&FS was by far the biggest. Consider these numbers: IL&FS’ total debt stood at Rs 91,000 crore, out of which Rs 57,000 crore was from public sector lenders. The amount due to banks is over 10 percent of the net worth of all public sector banks in ...

Operations at branches of public sector banks across the country were impacted Wednesday due to a strike by unions against the proposed merger of Vijaya Bank and Dena Bank with Bank of Baroda (BoB). The strike has been called by the United Forum of Bank Unions (UFBU) – an umbrella organisation of all 9 unions including the All India Bank ...

DAINIK NATION BUREAU Buoyant after its recent victory in the Hindi heartland, the Congress on Tuesday laid out part of its economic agenda for the 2019 General Election, promising a fresh “Goods and Services Tax 2” and junking the current one, should it come to power. It chose Punjab Finance Minister Manpreet Badal to make the announcement. Tearing into the ...

State-owned Punjab National Bank (PNB) has launched a special card for Kumbh Mela 2019. The bank has partnered with the Uttar Pradesh government to create a model for digitization at this edition of Kumbh Mela, PNB said in a statement issued on Sunday. It is estimated that 12 crore devotees will participate in this event which happens every 12 years. ...

DAINIK NATION BUREAU Shaken with the loss of five assembly elections i.e. Madhya Pradesh, Rajasthan, Chhattishgarh, Telangana and Mizorum, Narendra Modi led NDA regime has given huge relief to the people today. They curtailed the GST rate on several goods, which are usually being used by common man. This was announced by the union finance minister Arun Jaitely on Saturday. ...

Benchmark equity indices witnessed heavy selloff Friday after investors booked profits in realty, banking, IT and auto bluechips amid weak signals from global markets. The BSE Sensex plunged 689.60 points, or 1.89 per cent, to 35,742.07, while the NSE Nifty slipped 197.70 points, or 1.81 per cent, to 10,754. The 30-share index ended the week 527.93 points lower, while the ...

The Department of Industrial Policy and Promotion (DIPP) announced results of thefirst ever States’ Start-up Ranking 2018 at an event in New Delhi today. DIPP began this exercise from January, 2016.             States have been identified as leaders across various categories such as Start-up policy leaders, incubation hubs, seeding innovation, scaling innovation, regulatory change champions, procurement leaders, communication champions, North-Eastern ...

DAINIK NATION BUREAU The Central Goods and Service Tax (CGST) department has detected a fraud of Goods and Service Tax (GST) and Input Tax Credit (ITC) in the metal scrap business across Madhya Pradesh, Maharashtra and Gujarat. The fraud amount is likely to around Rs 200 crore, an official said. According to officials, the fraud was committed during the past one-and-half ...