Business

DAINIK NATION BUREAU The Ministry of Road Transport and Highways is planning to develop a new e-way between Delhi and Mumbai. This would reduce the travel time by 12 hours between two metros. This was disclosed by the Minister Nitin Gadkari while releasing a joint study report on “Insurance requirements of the Indian Logistics and Warehousing Industry”, here on Tuesday said ...

The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department, a senior official said today. The single Income Tax Return (ITR) form, notified by the CBDT on April 5, has been put on its website, https://www.incometaxindiaefiling.gov.in, yesterday. “Other ITRs wil be available shortly,” he said. ...

DAINIK NATION BUREAU For the last few weeks, several states especially BIMARU states have reported shortage of currency. Now similar reports are coming from eastern Maharashtra, Bihar and Gujarat too. The government is checking with banks and the Reserve Bank of India to ensure adequate supply of currency. Sources in the finance ministry said the cash crunch was not alarming ...

Proper implementation of the Goods and Services Tax (GST) in India can be worked upon and is not an “unfixable problem”, former RBI governor Raghuram Rajan has said, reiterating that demonetisation was “not a well-planned, well thought-out” move. With the Modi government bringing in ambitious reforms like GST and demonetisation, Rajan said it would be good if such measures were ...

audi Aramco, the world’s biggest oil company, on Wednesday announced a $44-billion deal to build a giant refinery complex in India with three Indian firms. The refinery at Ratnagiri on the west coast will handle up to 1.2 million barrels of oil a day, the Saudi company said in a statement after signing a memorandum of understanding with Indian Oil ...

DAINIK NATION BUREAU Charges for SMS alerts on banking transactions may not squeeze account holders much but can be a reasonable earning for many banks, especially in accounts with meagre monthly transactions though income from SMS alert service goes against the advisory from the sector regulator. While Reserve Bank of India told banks to send SMS alerts for every transaction ...

DAINIK NATION BUREAU The RBI Governor Urjit Patel-led monetary policy committee (MPC) on Thursday maintained status quo on the short-term lending rate — repo rate — at 6 per cent, in its first bi-monthly policy review of 2018-19. Five of six members voted in favour of the decision. Reverse repo was kept unchanged at 5.75 per cent. No changes were ...

Leading e-commerce company Amazon has reduced the number of employees in India. The company has shown the way out of approximately 60 employees about a week ago. Following this step, Amazon is re-structuring its business spread all over the world. Under this, the company has started the sorting process of its employees. Media reports have also said that the company ...

DAINIK NATION BUREAU Facing allegations of wrongdoing in the loan extended to Videocon Group, ICICI Bank MD and CEO Chanda Kochhar has pulled out of the annual session of FICCI Ladies Organisation (FLO) to be held this week, where she was to be felicitated by President Ram Nath Kovind, according to the organiser. Kochhar was to be the Guest of ...

DAINIK NATION BUREAU Apportioning blame to the Reserve Bank of India (RBI) over the PNB loan fraud , Central Vigilance Commissioner K V Chowdary today said there had been “no apparent audit” by the central bank during the period of the scam. Chowdary stressed the need to put into place a more robust auditing system. “They did not do this ...