Business

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 ...

Facebook will likely need “a few years” to fix the problems uncovered by the revelations on the hijacking of private user data, chief executive Mark Zuckerberg said in an interview released. Speaking to the news site Vox, Zuckerberg defended the company’s business model and shot back at criticism of the social networking giant from Apple CEO Tim Cook last week. ...

The Central Government has clearly refused to reduce the price of petrol and diesel despite the fuel prices reaching all time high. The government said that it is not possible to cut the excise duty immediately after the increase in the price of petrol in international markets. Due to this, there will be no reduction of petrol and diesel prices ...

DAINIK NATION BUREAU Uttarakhand Chief Minister Trivendra Singh Rawat met the representatives of the Apparel (Textile) Export Promotion Council, Government of India at the secretariat here on Monday. He emphasized on promoting the textile industry in the state as well as focus on greater job creation in the region. He further said that the state government plan to encourage such ...