Business

DAINIK NATION BUREAU Strange but true, Indian bank customers will have to spend more to do banking. Certain services may be costlier as banks may ask customers to pay more for free services like chequebooks and ATM cards but also increase charges across the board to pay a retrospective tax. It is going to happen because the Prime Minister’s Office (PMO) refused ...

Public sector lender Indian Overseas Bank (IOB) Friday said its board has approved raising up to Rs 300 crore on a private placement basis through globally accepted Basel III complaint bonds. “The board of directors of the bank, have by circular resolution. approved the raising of tier II capital by issue of tier II Basel III compliant bonds for an ...

In view of the disturbances caused to daily life by Cyclone Titli in the district of Srikakulam, Andhra Pradesh, and by Cyclone Gaza in eleven districts of Tamil Nadu viz., Cuddalore, Thiruvarur, Puddukottai, Dindigul, Nagapatinam, Theni, Thanjavur, Sivagangai, Tiruchirappalli, Karur and Ramanathapuram, the competent authority has decided to extend the due dates for filing various GST returns as detailed below: ...

DAINIK NATION BUREAU Demonetisation was a massive, draconian, monetary shock that accelerated economic slide to 6.8 per cent in the seven quarters after it against the 8 per cent recorded prior to the note ban, says former chief economic advisor Arvind Subramanian. Breaking his silence on the November 8, 2016 decision of Prime Minister Narendra Modi, he says that he ...

RBI Governor Urjit Patel Tuesday appeared before a parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among other issues, sources said. Patel was earlier scheduled to appear before the panel on November 12. Source said issues related to November 2016 demonetisation of old Rs 500/1000 notes, reforms in the RBI, stressed assets in the ...

The BSE benchmark Sensex pared early gains and turned choppy after opening over 200 points higher Monday, led by fall in IT and pharma stocks amid strengthening rupee. The 30-share Sensex pared early gains and was trading 4.38 points, or 0.01 per cent, higher at 34,985.40. The NSE Nifty too witnessed similar movement, and was trading 10.15 points, or 0.09 ...

Amazon on Wednesday said that a website glitch accidentally exposed names and email addresses of some of the e-commerce giant’s customers. Amazon declined to disclose the extent of the software slip-up. “We have fixed the issue and informed customers who may have been impacted,” an Amazon spokesman said in response to an AFP inquiry. There was no breach of Amazon ...

Prime Minister of India Narendra Modi launched a Grand Challenge on resolving seven identified Ease of Doing Business problems with the use of cutting edge technologies. The objective of this Challenge is to tap the potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology. The Prime Minister, Narendra Modi, at a ...

DAINIK NATION BUREAU The Reserve Bank of India (RBI) will set up an expert committee comprising members appointed jointly with the Union Government, the bank said after a nine-hour board meeting on Monday. The committee will look into the “excess” capital supposed to be held by the central bank. The government claims that the RBI holds Rs 3,60,000 crore by ...

DAINIK NATION BUREAU Shares of Jet Airways slumped 7 per cent Monday after Tata Sons said no concrete “proposal” had been made by the group so far for acquiring the beleaguered carrier. The stock dropped 6.88 per cent to settle at Rs 323 on BSE. During the day, it tumbled 12.57 per cent to Rs 303.25. On NSE, shares of ...