The 30-share index rose by 152.43 points, or 0.42 per cent, to hit a new high of 35,664.01, surpassing its previous intra-day record of 35,542.17 hit on Friday.
The 30-share index rose by 152.43 points, or 0.42 per cent, to hit a new high of 35,664.01, surpassing its previous intra-day record of 35,542.17 hit on Friday.
In India, it will take 941 years for a minimum wage worker in rural India to earn what the top paid executive at a leading Indian garment firm earns in a year.
Prime minister Narendra Modi is expected to pitch India as a growth engine for the global economy.
Kochouseph Chittilappilly was speaking at the third business summit organized by the alumni group of Vijayee Bhava.
Lack of a proper scrutiny system, flawed data collection and failures in the follow-up process were blamed for the revenue loss.
Between April-December period of the current fiscal, engineering exports to the US grew by over 50 per cent to $7.5 billion.
Price Waterhouse moved SAT against the SEBI order barring it from auditing listed companies for 2 years in connection with the 2009 Satyam Computers scam.
The new conditions include ones such as those that say companies must pursue an arbitration in India for 5 years before they can opt for international arbitration.
The poll that covered 28 economists also voted in a majority that the benefits of GST will not come by before 2019.
The new Bill, which will soon be put up for the cabinet’s approval, modifies several of the proposals made in 2014.
The GST council is expected to hold a follow-up meeting in 10 days to deliberate on issues including GST on petroleum products and real estate.
Netanyahu's remarks came at a power-breakfast where he held discussions with top Indian CEOs, industrialists and bankers at the iconic Hotel Taj Mahal Palace.
Japan is funding most of the project, and Japanese companies are likely to supply at least 70 percent of the core components of the rail line.
It was not immediately clear whether the revision was due to spending cuts, or if the govt would tap the short-term T-bill market to raise the remainder.
The 8% stamp duty and another 2% registration fee charged on the value of the transacted property is a major source of revenue for the govt of Kerala.
The 30-share index had crossed the 35,000-mark jumping to an all-day high of 35,118.61, and closed at 35,081.82.
The skyrocketing fuel prices are burning a hole in the pockets even as the central and state governments are passing the buck on each other.
Under GST, inter-state movement of goods beyond 10 km, with a value of Rs 50,000 and above, will mandatorily require e-way bill from February 1.
There has been an increasing trend of compliance after the striking-off and disqualification exercise that has affected a whopping 2.26 lakh companies already.
In 2017 alone, there was an increase of 15.2 per cent in the foreign tourist arrivals to the country.
The Caledonian, a grand Edwardian hotel overlooking Edinburgh Castle, joins his portfolio of 650-million-dollar worth of luxury properties across the UK, the Middle East and India.
With the latest inflation prints moving up, the Reserve Bank is likely to raise its inflation forecast for March and may leave the key rates unchanged in the upcoming policy review next month.
Wholesale food prices in December rose 2.91 per cent year-on-year, compared with a 4.10 per cent rise a month earlier, the data showed.
At present formal sector workers with five or more years of service are eligible for Rs 10 lakh tax free gratuity after leaving job or at time of superannuation.
Kerala Development Fund and Expatriates Chamber of Commerce (ECC) are some systems to be set in motion by the government to tap investments of NRKs and ensure their support towards progress of the state.
Since Kerala is a consumption-driven economy, GST is particularly beneficial for the state, Gopinath told reporters on the sidelines of the 'Loka Kerala Sabha'.
Vegetables in December became costlier by a whopping 29.13 per cent, while prices of milk-based products rose by 4.37 per cent.
This does not mean that a passenger will not be able to carry the mobile phone on a flight.
The study also shows a wide gap between 3G and 4G speed claims of internet service providers and their actual performance.
The cabinet also eased FDI rules for the aviation and the construction sectors.
India, despite initial setbacks from demonetization and GST, is estimated to have grown at 6.7 per cent in 2017, according to the 2018 Global Economics Prospect released by the World Bank.
Gross collections before adjusting for refunds have increased by 12.6 per cent to Rs 7.68 lakh crore during April-December 2017.
These bonds with seven-year maturity would open for subscription from January 10, a finance Ministry statement has said.
Attacking the former Congress-led UDF government, he said these firms collectively recorded a loss of Rs 113 crore in the previous financial year and got back into the profit track in just year-and-a-half of the Left government.
The proposal to develop NRK centers will be discussed in detail at the Loka Kerala Sabha, an initiative aimed at connecting Kerala expats across the world with their home state.
The new Rs 10 note in the Mahatma Gandhi series is designed in the base color of chocolate brown and has the motif of the Konark Sun Temple in Odisha on the reverse.
The Central Statistics Office (CSO) reported that the Gross Domestic Product (GDP) at constant (2011-12) prices for 2017-18 is likely to touch Rs 129.85 lakh crore.
India's tourism sector grew over 10 per cent in the six months ending September, compared to near 8 percent in the year-ago period.
The new bonds will be available in denominations of Rs 1,000 each and the interest received is taxable at a marginal rate.
The lenders which are majority-owned by the government have more than two-thirds of India's banking assets.
US oil exports have flourished since the 40-year ban on shipping crude overseas was lifted in 2015.
The Reserve Bank of India (RBI) granted license to carry on payments bank activities on January 20.
One of the bugs is specific to Intel but another affects laptops, desktop computers, smartphones, tablets and internet servers alike.
India has been seeking amendments to this formula, fearing that full implementation of its food security programme may result in breaching of the WTO subsidy limit.
The Financial Resolution and Deposit Insurance Bill (FRDI), 2017 provides only 'additional protections' to the depositors in a more transparent manner, the ministry said.
The proposed changes would have a dramatic effect particularly on Indian visa holders considering more than half of all H-1B visas have been awarded to Indian nationals.
In November, the GST Council had lowered the tax rate to a uniform 5 per cent from 12 per cent on non-AC restaurants and 18 per cent on air-conditioned ones.
Power tariffs are a politically sensitive issue in the country, where more than three quarters of the electricity is generated by coal-fired power plants.
Eight core sectors expanded at the fastest pace in more than a year at 6.8 per cent in November 2017 on account of robust performance in segments like refinery, steel and cement.
The Indian job market is in a state of flux, thanks to rising adoption of artificial intelligence, and upskilling is the only way employees will be able to survive this transitory phase.
The bank did not change the marginal cost of funds-based lending rate which would have brought down the cost for all borrowers.
Until now, the refrain was that the income from GST has reduced and the compensation from the Centre has been delayed.
With this the total number of projects sanctioned under KIIFB has risen to 276, at an estimate of Rs 18,939 crore.
The fiscal deficit estimate has widened after a fall in the post-GST tax collection, lower PSB dividents and overall slack in tax collection.
Karnataka got maximum compensation from the Centre at Rs 3,271 crore, followed by Gujarat (Rs 2,282 crore) and Punjab (Rs 2,098 crore).
Cryptocurrencies are not legal tender and have no regulatory permission or protection in the country, the finance ministry said.
Pointing out that the whole market depends on trust, Sebi chairman Ajay Tyagi said as the regulator Sebi just cannot let it happen again.
The state-run lender said it has time till March 2018 to raise the funds required to meet the Basel III capital adequacy norms put in place to guard against a repeat of the situation following the 2008 US financial crisis.
The world economic league table has forecast for 192 countries up to the year 2032.
The latest release said that the government will raise the amount through dated securities.
India's LPG purchases have surged from just 1 million tonnes a month in early 2015 to reach 2.4 million tonnes in December.
As many as 53.06 lakh tax returns had been filed till December 25.
India's ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.
BSNL, which has 10 crore mobile customers across India, expects to roll out 10,000 4G mobile towers by March 2018.
There may be further such fluctuations with the craze for Bitcoins and other cryptocurrencies continuing.
Conceding that times are difficult for the IT services sector, Murthy dismissed the commonly attributed threats of artificial intelligence and automation as 'more hype than reality.'
Supersonic passenger travel will make a comeback if three US-based companies can make jets quiet and efficient enough to win over buyers and fliers.
Read on if you are looking for a home loan and want to know where to go for and how to get the best rate with least hassles and most benefits.
The steel and rail ministries have been at loggerheads over the state-run network's decision to buy rails from overseas.
The 51-year-old actor pipped Shah Rukh Khan to the top after raking in Rs 232.83 crore in the period of October 1, 2016 to September 30, 2017, backed by endorsements of several brands.
An inter-disciplinary standing committee on cybersecurity has been constituted by the RBI comprising academia, information security audit, forensic and cybersecurity experts.
The report noted that the central banker could be consciously withholding the high value currency even as the smaller denomination in circulation has touched 35%.
Banks in Kerala have so far given away just 411 loans under the program, or less than a sixth of the target of 2,626, shows a report of the state-level bankers' committee.
The park, which will come up with assistance from Singapore and South Korea, will have facilities for small and mid-size industries to set up their units.
The minister said no further amendment to any law would be required for the same as the 115th Constitutional amendment already provides for it.
Describing India's economic condition as largely positive and favorable to growth, Sebastian Vergara, a UN economic affairs officer, said the country needs to unleash the next set of reforms to achieve its potential.
Market analysts observed that cues from Parliament's winter session, coupled with the direction of foreign fund flows and the rupee's movement against the US dollar will also impact investors' risk-taking appetite.
The govt officials were warned in the run up to the launch that a key part of the GST technology, allowing users to connect to the GST network, was not working smoothly.
Vodafone said India does not have any jurisdiction on the issue as there is an investment pact with the United Kingdom.
Wholesale food prices in November rose 4.10 per cent year-on-year, compared with a 3.23 per cent rise a month earlier.
Modi on Wednesday sought to allay the fears of bank account holders, saying their deposits in banks will be safe and their interests would not be harmed in any way.
Bitcoin, a virtual currency, is not regulated in the country and its circulation has been a cause of concern among central bankers the world over for quite a while now.
It has also revised downward the gross domestic product outlook for next fiscal beginning from March 2018 to 7.3 per cent from 7.4 per cent.
The jump in retail inflation comes within days of the Reserve Bank warning that there may be a spike in prices in the coming months.
A host of natural and economic factors have probably pushed up the retail inflation rate to 4.20 per cent breaching the Central Bank's medium-term target.
Here are some facts that you might not know about the largest and best-known cryptocurrency.
According to the statement, the net direct tax collections represent 49 per cent of the total budget estimates of direct taxes for 2017-18.
The surge in reserves was aided by an increase in foreign currency assets, a major component of the overall reserves.
Bitcoin fell 12.6 per cent on the Bitstamp exchange at $14,500.76 as of 05:30 GMT, after rising to a record $16,666.66.
The supply of bitcoin will eventually be capped at 21 million, and some 16.7 million have already been released.
Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers across the world.
Tesla says the battery has the capacity to power 30,000 homes for up to an hour in the event of a severe blackout, but is more likely to be called into action to boost supply during peak demand periods.
The World Energy Outlook Report, 2017, launched by the IEA, was relaunched in association with Delhi-based think tank The Energy and Resources Institute (TERI).
The RBI also kept the reverse repo rate unchanged at 5.75 per cent.
It was the government's second attempt to sell the diamond after it rejected the highest bid of $7.8 million at an initial auction in the capital Freetown in May.
The statement was issued after the cryptocurrency, which trades 24 hours a day and seven days a week, climbed as high as $11,799.99 on the Luxembourg-based Bitstamp exchange.
Experts say the central bank will hold the repo rate at 6 per cent, the lowest since November 2010.
The government is eyeing a three-fold increase in the AYUSH sector by 2022 and predicts double-digit growth in the industry.
Emerging from an acrimonious spat, Infosys now needs a realisitic rebound under the new man handpicked by the veteran founder Nilekani who returned to the helm following Sikka's exit.
The launch of the facility is part of the bank's constant endeavour to transfer the benefits of technology-enabled banking to its customers.
Calling Mittal a 'friend', Ambani said profits and losses are risks businesses take and it is more important to find out if the country and the consumers gained after Jio.
There are over 20 cases pending against India, among the highest against any single nation.
The 39 staffers at these four check posts were redeployed at other offices in Idukki.
Integrated field practice at the university is a unique learning experience with 'practicums' every week, longer exposure visits, field research, internships opportunities and independent field projects.
The breakthrough is the latest in a spectacular run for the online money dubbed 'digital gold' by its advocates, which began life in 2009.
During her speech, Ivanka showered lavish praise on prime minister Narendra Modi who is "doing to build India as a thriving economy - a beacon of democracy - and a symbol of hope to the world."
The Australia-based entrepreneur, who is studying in 7th grade, has so far developed five apps including the one to save turtles, and is currently working on the sixth one for increasing awareness about traffic rules.
At its last meeting in October, the Monetary Policy Committee left the repo rate at 6.0 percent, near a seven-year low.
Adani is also seeking A$2 billion in outside financing to construct the first stage of the mine and was in talks with China Machinery Engineering Corp (CMEC).
The former RBI governor made a strong case for broad-basing economic growth and generating more employment opportunities.
Central and state government schemes like the Pradhan Mantri Awas Yojana and Life Mission seek to financially support people to have their own house, but lack of awareness could stop you from availing of the benefits.
'The new initiatives in the next 18 months should focus on health and education sectors as these two are going to be critical for human resource development,' says Niti Aayog vice-chairman Rajiv Kumar.
Even the government-run Civil Supplies Corporation (Supplyco) outlets have not lowered prices in accordance with the new tax rates, their bills showed.
The world's fourth-largest rail system is undergoing a five-year overhaul to replace ageing tracks, improve efficiency and end a spate of deadly train accidents
The clarification comes amid rumors about a possibility that the central government will withdraw bank cheque book facility to encourage digital transactions.
In an effort to improve user experience, M4M, Malayala Manorama's match-making portal, has started using intensive data sciences.
Three-year budget for its flagship public health program, almost 20 per cent lower than what the health ministry said was needed.
The social networking giant expects to train about five lakh people in India on digital skills by 2020 and has unveiled two programmes designed for individuals and startups.
Buying from e-commerce platforms is cheap, but there is a place online where you could get it even cheaper — Welcome to the marketplace for refurbished products.
As many as 40 per cent of the businesses filing returns on GST Network (GSTN) portal have nil tax liability.
The state is heading for a financial crisis thanks to the lavish spending of the money it received during the previous Onam.
The digital ad spend, currently at Rs 9,800 crore, will see an exponential increase on widespread usage of 3G-4G services and the ongoing surge in Internet penetration.
The dredgers named Shanti Sagar 10 and 12 have reached the port on Sunday. Two years ago, it was Shanti Sagar 12 that had kicked off the port work.
Emirates Hospital, a 100-bed facility, owned by Abu Dhabi group KBBO, opened in October 2017 and recently added obstetrics, pediatrics and neonatal intensive care unit among others.
If you fall victim to online fraud, take it up with the police immediately and you could get the money back in your account within hours
The state will be left with no option other than to write off the bad loans if the Kerala Bank plan is to go ahead.
Adhia said that the country's key economic parameters like low inflation, reduction in fiscal deficit and increasing tax buoyancy show that economy is in robust shape.
'In all probability, the Center may withdraw the cheque book facility in the near future to encourage digital transactions,' said CAIT secretary general Praveen Khandelwal.
Does it make sense to put money in gold deposit schemes that jewelers are promoting aggressively but regulators are not very fond of?
The decision was aimed at boosting tourism in the state where cruise liners often come calling along with international tourists.
The announcement comes after the Japanese companies agreed in February to trade expertise in parts supplies and research and development.
Moody's has changed the outlook for the country's rating to stable from positive and said this was based on the Indian government's 'wide-ranging program of economic and institutional reforms'.
A Reuters investigation documented at least 12 cases of prescient messages about major Indian companies being posted in WhatsApp groups limited to traders.
Though traders are trying up stock up on kettunira materials and other pooja items, the implementation of GST has resulted in prices of most items going up.
The first and easiest method is to ensure that the 15-digit GST number is printed on the bill.
The approval by the cabinet paves the way for immediate establishment of the apex body, which is mandated to ensure that the benefits of GST rate reduction is passed on to consumers.
The government has already borrowed Rs 14,000 crore, including the Rs 8,500 crore it borrowed during Onam.
The ministry had made a similar move after rollout of GST on July 1, with the deadline for dual MRP till September 30.
Arun M Kumar, the Malayalam-speaking India head of global consultancy firm KPMG, talks to Onmanorama.
Kerala has fallen off the consideration set of many investors, as frequent strikes vitiate the state’s business atmosphere.
Retail inflation, a key input for RBI in setting the key interest rate, has been rising consistently since June.
The wholesale price index (WPI), with the revised base year of 2011-12, went up in October to 3.59 per cent from 2.60 per cent in September.
Islamic or Sharia banking is a finance system based on the principles of not charging interest, which is prohibited under Islam.
The distributed ledgers, as blockchain is called, is the underlying technology used in encrypted digital currencies such as Bitcoins.
A Dubai-based bank has approached EOW to initiate proceedings against 40 Keralites, who have taken loans worth crores of rupees and fled the UAE.
Out of the total $25.38 billion, the company had notched $12 billion worth of sales within just the first two hours of the festival.
The compensation will be decided after pegging the market price at 10 times the revised fair value.
The agency that awarded and carried out solar projects was the government organization that took the severest hit from the scam.
The Congress said that if electricity, petroleum, real estate are kept out, 50 per cent of total revenue stays out of GST ambit.
'India is the only country in the world with billion biometrics and as many mobile phones and bank accounts and therefore, in future, it will be the only nation which will make a lot of disruptions,' says Amitabh Kant.
Top finance ministry officials and bankers will meet to discuss lending reforms designed to prevent another bad loans crisis.
The GST Council has decided to slash tax slabs of 178 items from 28 per cent to 18 per cent.
On June 1, 2017, making Aadhaar and PAN mandatory for availing financial services including insurance and also for linking the existing policies with the same.
GST revenue is shared equally between the center and the state, resulting in a shortfall, sometimes as gaping as 20%.
KSEB had stopped the distribution after the GST burden pushed up the prices.
The World Bank credits India's 'extraordinary' achievement of quadrupling of per capita income to reforms taken in last three decades.
As per the latest data of the National Payment Corporation of India, the number of payments through UPI has zoomed to 76.96 million at end-October 2017.
The council, headed by Arun Jaitley, is scheduled to meet on November 10 to consider lowering of the 28 per cent GST rate on certain common use items.
After railways, power sector reported second highest incidence of overall cost overrun.
According to reports, tax rates for small businesses and traders may be reduced and the minimum revenue threshold for companies that need to pay tax could be raised.
Regulated sectors such as banking, insurance, telecom and exchange industry players were among the first to introduce Adhaar-based 'e-KYC' to meet the stringent norms of regulators.
At an 'Ease of Doing Business' event, Narendra Modi hard-sold India as an investment destination saying ranking will improve further when the impact of the GST and all reforms are accounted for.
This is the first time Apple tuned its iPhone X launch global, with India on its map right on Day 1.
The RBI had recently approved the formation of such banks in Chhattisgarh and Jharkhand.
This is the first time that the state is moving against merchants who have been found overcharging consumers in the name of GST.
The BoE's nine rate-setters voted 7-2 to increase the Bank Rate to 0.50 percent from 0.25 percent.
India has scored a 'perfect 10' in terms of protecting shareholders' rights, even as advanced economies like the US, UK, Singapore and New Zealand have failed to get this top-billing in the World Bank's latest 'ease of doing business' report.
The event intends to promote the culture of innovation among students and technology professionals.
This case once again highlights the persistent attempts of anti-competitive conduct by chemist and druggist associations.
India is one of the top 10 improvers in this year's assessment but the report does not take into account the big bang reform of Goods and Services Tax.
India needs reasonably big banks both in public and private sector to be able to compete domestically and be competitive internationally, it was observed.
The government has a target of keeping the fiscal deficit for the current year at 3.2 per cent of the GDP.
The three and four-star hotels are apprehensive about the financial viability of the proposal.
'The spurious and non-branded LED products are a serious threat to not just the organized and compliant market players but also to the government's key programs like Make in India,' the report said.
The ministerial panel working to make GST composition scheme more attractive suggested slashing tax rate for manufacturers and restaurants.
The government recently unveiled a Rs 2.1 lakh crore, representing 1.2 per cent of GDP, recapitalization package for public sector lenders which will be injected over two years.
India handset shipments reached an all-time high of over 84 million for the first time ever, driven by strong sale of both feature phones and smartphones.
The finance minister said the process of making a cleaner economy is set in motion to achieve the aspirations like being a developed economy and the fastest growing among major economies of the world.
All states barring Rajasthan and Arunachal Pradesh, have been given compensation for the first two months (July-August) after Goods and Services Tax rollout.
Economists had expected that US economic growth would slow down to 2.5% in the third quarter due to disruptions caused by hurricanes Harvey and Irma along the Gulf Coast.
The network will connect 10,000 technology education institutions in India, covering 5 crore students, ex-students, teachers and parents.
The new policy aims to increase electronic industry’s annual turnover five times.
Shanthamma chechi will come with her samovar-fitted boat by the resorts and honk a couple of times to notify the teatime.
Dassault Aviation, France chairman Eric Trappier and Reliance Group chairman Anil Ambani laid the foundation stone for the Rs 6,500 crore-Dassault Reliance Aerospace Limited manufacturing facility.
Despite a global clamp down on new and existing investments, Dubai Holdings had assured they will stay on the SmartCity project, convinced on the returns.
The Kerala capital will turn a hub of cybersecurity and financial technology when Technopark expands into its fourth phase.
The number of billionaires worldwide rose above 1,500 in 2016, a 10 percent jump from 2015, according to Swiss banking giant UBS and auditors PwC.
The move came after critics said that the tech giant was not taking the congressional probe seriously enough.
'The program is the biggest infrastructure program, including Bharatmala, that will see India having 50 corridors including the existing six,' says Union minister Nitin Gadkari.
The massive project aims to construct 83,000 km of roads within the next five years.
Despite the stimulus package, NPA-related bad news could return to haunt the Indian banking sector by mid-2019 studies say.
The govt. is keen to complete the circle of connectivity by linking the Sagarmala and Bharatmala roads.
Finance minister Arun Jaitley said the capital infusion would be done over the next two fiscal.
If analysts are to be believed, Indian banking industry is set to hit a massive logjam with a mammoth bad loan burden.
Seeking to boost the economy, Arun Jaitley announced a massive Rs 6.92 lakh crore infrastructure spending and another Rs 2.11 lakh crore for bank recapitalization to revive investments as well as growth.
Federal Bank is the largest Kerala-based listed company by market value.
It will become a transparent and comprehensive data base of credit information aimed at improving ease of doing business and controlling delinquencies.
IPPB, a public limited company, seeks a pan India roll out with 650 branches in the remotest corners of the country by early 2019.
Cyrus sends a text 'I am being sacked' to his wife Rohiqa, before putting on his jacket and heading for the board meeting, says Nirmalya Kumar in his latest blog titled 'How Cyrus Mistry was fired'.
Wedding services like marriage garden/marriage hall booking, tent booking, confectionery services and photography are expected to be affected.
The Goods and Services Tax, which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilize, he said.
Bharat 1 phones, international roaming and massive discounts are some of the goodies on offer.
They will be free to start business ventures on their own or in partnership with students.
God's own country is not even among the top five tourist destinations if we are to go by the number of foreign tourist visits.
The banks that do not set up Aadhaar enrollment and updation centers at least 10% branches will face fines after October 31.
The apiculture farmers can ensure decent returns by selling their honey to the Khadi and Village Industries Board.
Bharti Airtel Ltd and Idea Cellular Ltd gained over 3 percent each after Reliance Industries Ltd's telecoms arm Jio revised tariff offers.
The communications firm, part of WPP group, noted that Indian consumers are becoming more positive in their perceptions of brand authenticity.
The new rules target toys, electronic goods, machinery, food processing, construction and chemicals, sectors dominated by China.
The feature-packed phone, priced Rs 2,200, is being made by Micromax and will be available in markets from Friday.
The government has already used up nearly all of its budget for the current fiscal year and tax revenues are expected to fall far short of initial expectations.
As per a recent data released by global job site, there has been a 38 percent decrease in Indians looking to move to the US and 42 percent decrease in Indians eyeing for the UK in the last year.
The study also found a 11 percent surge in women workforce at entry levels in 2017, compared to 2016.
USA and Southeast Asia retained their position as the major importers of India's seafood, followed by the European Union (EU) and Japan.
Cooling of food prices helped ease India's annual rate of inflation based on the wholesale price index in September.
For every one percent of the population brought under the coverage of Internet services, there will be a 2.5% jump in the GSDP.
The law aims at ending the discrimination against differently abled persons, ensuring equal role for them in society and job opportunities and promoting male-female parity.
In a 'global invitation for expression of interest', the government asked private players to submit the bids by December 8.
India should continue with the fiscal consolidation through revenue measures, as well as further reductions in subsidies, says deputy director Asia Pacific department of IMF Kenneth Kang.
'RBI is not behaving properly. It (RBI policy) is anti- growth,' says FICCI president Pankaj Patel .
The whole environment of doing business has changed in a matter of months, Arun Jaitley told a Washington audience at an event organized by the US-India Strategic and Partnership Forum.
The charity event, organized by Oracle India, Rotary Foundation and Needy Heart Foundation supported 73 heart surgeries for BPL children in 2016.
NRKs can make their monthly remittances to NRI bonds being issued by the Kerala Infrastructure Investment Fund Board on behalf of KSFE, with state guarantee.
The matter will be discussed in the next meeting of the GST Council to be held on November 9.
Antony Thomas, group chief information officer (CIO), GE global, is taking over as group CIO of Japanese vehicle manufacturer Nissan.
The Indian telecom sector is in the midst of a wave of consolidation after the entry of Reliance Industries', Reliance Jio Infocomm venture.
The dispute sparked a series of government actions that prompted the world's biggest seed company to withdraw from some businesses in India.
While the International Monetary Fund has lowered India's growth forecast for the current fiscal by 0.5 percentage points, the World Bank has pegged economic expansion at 7 percent, down from 7.2 percent projected earlier.
India's economic momentum has been affected by disruptions from the withdrawal of banknotes and uncertainties around the Goods and Services Tax (GST), the World Bank said.
The International Monetary Fund raised its current year growth forecast for China to 6.8 percent.
Oil and Natural Gas Corporation holds 13.77 percent stake in India's biggest refiner Indian Oil Corporation.
The lowering of tax in the poll-bound Gujarat follows Union finance minister Arun Jaitley recently writing to all state governments nudging them to reduce taxes on petrol and diesel.
At the event jointly organized by CII and US India Business Council in New York, Jaitley said global integration of Indian economy is happening at a time when other economies are becoming more protectionist.
According to him, fuel prices in Kerala have not increased compared to that of the states ruled by the Bharatiya Janata Party (BJP).
Environment groups say the mine in Queensland state would contribute to global warming and damage the Great Barrier Reef.
The number of PSBs with govt majority stakes may drop by around half, but only after the NPAs are tackled.
India's state banks have battled rising bad loans in recent years, a fight that has dampened credit growth and slowed a long-awaited economic revival.
Many of the leading global brands refuse to supply to the government agency because they do not want to pay 400 percent tax.
While aggregate deposits rose, the rate of growth fell by nearly two thirds.
Reliance Industries chief Mukesh Ambani emerged as India's wealthiest for the 10th straight year as his net worth swelled to $38 billion.
The state government also said the tax rate on some goods would cause hardship to the poor.
In the P2P networks, given NBFC status in September, crowdsourced funds can be lent and borrowed via bank accounts on online platforms subject to strict caps.
The central government wants the states to cut the value-added tax on petroleum products by 5 percent. Kerala finance minister said the state had no plans to forego the tax.
Companies adapting to the wisdom of 'Uberization', internet should become a right, says industry veteran.
Rajnish Kumar, currently a managing director at the bank, will have a three-year term.
The event will be attended by 140 representatives from 39 countries, apart from 150 delegates from across India.
He said that people must take collective responsibility and change their mind set if real change was required.
India's ambitions to become a smartphone-making powerhouse are foundering over a lack of skilled labor and part suppliers along with a complex tax regime.
The sluggish pace of development, however, is not so bad considering the track records of the governments in the previous six years.
Movement of big ships through Ernakulam shipping channel was partially affected after the fishing boat, which was being towed to the shore, sank on September 19.
Electric vehicles remain expensive due to the high cost of batteries and automakers say lack of charging stations could make the plan unviable.
The decision came after several companies and retailers body CAIT highlighted that they are still left with huge unsold stocks of pre-GST goods and need more time to clear that.
The United States, Japan, Germany and China boast the highest numbers and together make up for almost two-thirds of the total.
The company has started shipping JioPhones from Sunday and delivery of all phones is expected to be completed within 15 days.
The stretch would be opened for commercial operations before the commencement of FIFA U-17 football matches next month.
Kerala Startup Mission has tied up with Mahindra & Mahindra group to offer a platform for young and budding entrepreneurs to develop and market their ideas.
The Center had requested states to reduce the VAT rate on ATF by one percent, to encourage flight services connecting important cities in the country.
GE has created around 1,000 jobs at the plant and a maintenance shed, and 5,000 jobs in the supplier network.
The law makes it mandatory for jewelers to keep records of customers' personal identification numbers or tax code number for transactions above Rs 50,000.
The telecom and IT industry will have to partner with every sector of the economy and the government, every business and every institution, from the biggest to the smallest, Ambani said.
The phone will impose a massive subsidy cost on the telecom giant and breach the extremist right's call to boycott all things Chinese.
Government earnings from petroleum products increased three times over a period of five years till 2017, primarily on account of increase in indirect taxes from time to time.
In a bid to facilitate research and development activities for 5G service rollout, the government is looking at setting up a Rs 500-crore support fund.
OTT's have changed the viewing experience with on-demand content and is set to further change the landscape with the introduction of artificial intelligence and virtual reality.
Reports claim that the package could unlock around Rs 40,000 crore and may be announced by the PM in the BJP national meet today evening.
The founder has said Facebook's business has performed well and he can fully fund philanthropy and yet retain voting control of Facebook for 20 years or more.
The Indian School of Business Management in Hyderabad carries a fee of Rs 2.5 lakh plus the GST of Rs 46,000.
The petroleum minister said that the government needs tax money to fund development projects, adding that he hoped petroleum will soon come under GST.
The former PM urged the young business graduates to imbibe democratic values in life and in the management of enterprises entrusted to their care.
Subramanian, a senior fellow at the Peterson Institute for International Economics, was appointed India's chief economic adviser in October 2014. His term was for 3 years, which was to end on Oct 16.
So far this year India has attracted $23.7 billion in debt investment and $6.08 billion in equity purchases, helping the rupee rise 4.8 percent.
To cut the cost of procedures such as angioplasty and knee surgery, National Pharmaceutical Pricing Authority has dramatically reduced prices of knee implants and cardiac stents in recent months.
Pledging support to the revival of the banking system, the union finance minister said that all government efforts were directed to make banks stronger in terms of resources.
The government will soon announce a model tenancy act' and a national rental housing policy.
In many homes, they have replaced the cable or satellite television. In some other cases, they have become the second TV.
Growth in Indian economy slowed to a three-year low of 5.7 percent in the quarter that ended in June.
The govt is reportedly looking for expert advice on setting up a company on PPP model or constituting a cooperative. The chief secretary will set up the expert committee for the study.
Eating out has become a burden with the introduction of GST. The present rates mean a tax of Rs 180 on a food bill of Rs 1000 and a monthly tax rate of Rs 30,000 on establishments that earn more than Rs 20,000 in a day.
The special list also includes Donald Trump. Forbes referred to him as the 'Salesman and Ringmaster Extraordinaire: Owner, Trump Organization; 45th President Of The United States.'
The finance minister said an announcement with regard to the additional steps will be made after consulting prime minister Narendra Modi.
The country's leading insurer is seeking to raise Rs 8,400 crore from the anchor investors and has already raised Rs 2,226 crore on the opening day.
The cut in the charge runs contrary to the demands made by established operators, including Bharti Airtel and is a big win for the new entrant Reliance Jio.
The decision to import sand was in view of shortage and environment issues caused due to mining of sand from river beds in the state.
These companies are also saying they shouldn't be held liable for defects in products manufactured in collaboration with local partners.
The govt is looking at creating a combined entity with ample assets which can serve as a collateral in availing international loans.
Two of the airline's subsidiaries: low-cost arm Air India Express and Alliance Air, have significant operations.
The bank expects to collect Rs 2,000 crore as penalty on savings bank accounts which have failed to maintain a minimum balance.
Finance minister Arun Jaitley will launch this payment app on September 18 in Delhi, according to an official communication sent by the finance ministry.
Earlier the center had said that the final decision on commercial release of GM mustard will be taken in September and the planting will commence in October.
Assam is the first state to approve such a legislation, which was passed unanimously.
CAD widened to $14.3 billion in the first quarter (April-June) of 2017-18 and the trade deficit widened to $11.64 billion in August from just a month ago.
The company with its long-running ties with Kerala, is optimistic about the SmartCity project expected to fetch Rs 280-300 crore rental per year from the 6,50,000 square foot IT complex.
Sluggish economic growth, continued stress in some sectors, and slow place of resolution proceedings has been constraining recoveries.
The last such high level of inflation was witnessed in April when the rate of price rise was 3.85 percent.
Other big player to join India's growing digital payment market is Facebook-owned WhatsApp.
India is held back by a number of factors, including low educational attainment and low deployment of its human capital, meaning the skills available are not getting put to good use.
The Civet coffee, also called as Luwark coffee, is expensive because of the uncommon method of producing such a coffee.
It was unclear whether the group at the RBI plan to issue a recommendation on cryptocurrencies to the government, or if the review is at an early or advanced stage.
KSIDC to acquire 5,000 acres for new ventures, to offer financial assistance to 1,500 start-ups.
The Center on Tuesday approved an amendment bill that seeks to double tax-free gratuity for formal sector employees to Rs 20 lakh.
Dimon's comments come as the bitcoin, a virtual currency not backed by any government, has more than quadrupled in value since December to more than $4,100.
The latest move comes close on the heels of the corporate affairs ministry canceling the registration of 2.09 lakh companies that have not been carrying out business activities for a long period.
India's consumer price index rose 3.36 percent in August from a year earlier.
The impact on the exchequer on account of dearness allowance would be Rs 3,068.26 crore per annum in the financial year 2017-18.
The renegotiated deal will mean 15% lesser revenue for the company and shows how the new plants in Australia and the US have further stressed the oversupplied market.
The new protocols are only meant for domestic passengers and those traveling to international destinations will have to get their hand baggage tags stamped as usual.
The tax rates on common man's utility, including raincoats, rubberbands and batter for idli and dosa, have been reduced.
There were 700 advance remittances made for imports through various current accounts opened during the period from January 2015 to May 2015.
According to the study report, Kerala is second only after Karnataka in various parameters, including infrastructure and cost management.
Inflow of foreign currency into Indian equity and debt markets have contributed massively to the rising gold reserves and FCA.
The figure could fluctuate based on the success of Facebook's' programming, covers potential spending through 2018.
The road transport and highways minister said a Cabinet note on electric vehicles is ready and that will take care of charging stations.
BSNL has started discussion with Larsen & Toubro and HP for end devices that will be required for 5G services.
Donald Trump scrapped the Deferred Action for Children Arrival, a move likely to impact 8,00,000 undocumented workers including more than 7,000 Indian-Americans.
The institute is a top choice for international students, including those from India.
Tax officials say the owners of shell companies create elaborate smokescreens, including naming personal servants and chauffeurs as board directors.
Stocks were dumped and investments moved to safe haven buying, post the North Korea nuclear tests, sending spot gold up by 0.1 percent to $1,335.36 per ounce.
In a tweet, the CBEC extended the deadline for filing GSTR 1, GSTR 2 and GSTR 3 for the month of July to 10th, 25th and 30th September 2017, respectively.
The central banker said that there is no authorization for virtual currency in the country and the users are at their own risk.
The RBI, facing flak from the opposition parties for demonetization, made the disclosure to the Parliamentary Standing Committee on Finance.
Some banks have even asked the ATM companies to begin testing the new note for recalibration of the machines, though they have not got supplies of the new currency.
MoS finance ruled out legalizing cryptocurrency in the securities and commodities transactions any time soon.
The EPFO receives close to 1 crore offline applications for the settlement of EPF withdrawals, pension fixation or for getting group insurance benefit.
The consumer affairs ministry is closely monitoring onion prices, which are ruling high in the range of Rs 40-50 per kg.
The interactive drive program, Tata Motors Experience Center, was held at the Jawaharlal Nehru Stadium in Kochi.
Fake currency is on the increase despite all government efforts to plug their flow, the Reserve Bank of India's (RBI) data shows.
10 of the 14 non-core assets, put on auction Thursday, fetched handsome bids, giving hope to the debt-ridden carrier.
The figures deliver a blow to prime minister Narendra Modi who is facing criticism for disrupting business activity through his shock cash squeeze last year.
Russian candy and cookies; Indian handicrafts and spices; Brazilian nuts and propolis; and South African grapefruit and wine were the best sellers.
Using the new bankruptcy law, the central bank has prodded banks to initiate insolvency proceedings against 12 large corporate defaulter to resolve Rs 2 lakh crore or almost a fourth of the country's bad debt.
The Reserve Bank of India has identified 33 stressed accounts within which UCO Bank alone has exposure to Rs 7500 crore.
The center warned penalties after several debt laden state distributors were pushing the developers to renegotiate tariffs and costs of solar power, risking bad loans and closures.
The cabinet passed an executive order, or ordinance, to raise the maximum levy to 25 percent from 15 percent.
GAGAN Message Service is expected to overcome 'the problem of last mile reach', since the messages can be received directly on a hand-held receiver or on a mobile phone.
Sebi has approved the extension and the decision will be subject to approval of the shareholders.
The market has been blinking red to an auction as the recent disruptions have sparked mergers and consolidations, and would prefer 5G rollout by 2019.
The new document incorporates in simplified form all the changes made over the past year further liberalizing foreign investment rules.
The forum will highlight a range of topics concerned with the future of the global economy, including the FDI reality, the Fourth Industrial Revolution and the impact of new technology.
The company is building 4G products based on high capabilities and value propositions.
'In its first two budgets, the government had already allotted Rs 50,000 crore for Kerala Infrastructure Investment Fund Board towards various projects,' said chief minister Pinarayi Vijayan.
From search engine optimization and web development to ethical hacking and game testing, jobs are galore in the freelance space.
The Samsung heir was convicted of bribery, embezzlement, capital flight, perjury. Lee denied wrongdoing.
Boardroom battles over a spate of issues including corporate governance and an acquisition led to the exit of Infy's first non-founder chief executive Vishal Sikka.
Remote monitoring allows traditional concrete control towers to be replaced with dozens of high resolution, infra-red cameras around runways that feed live images to screens in buildings far from the airport.
Post the finance minister's announcement of public sector bank mergers and healthy buying in banking, metal and automobile sector stocks, the indices opened higher than closing values.
Amid mounting NPA burdens, more public sector banks may go the SBI way, merging and consolidating to withstand market shocks.
Most of the startups are software-related, contributing 51.5 percent of the total space.
The banking giant has announced up to 100% off in processing fee of car, personal and gold loans, including takeovers.
The premium muscatel flavor second flush leaves have run out of stock due to the GJM agitations, posing the risk of alternatives dethroning the Indian teas.
The extension comes amid technical glitches in the website and requests for extension following flood misery in several states.
The stocks crashed by Rs 30,000 crores on Friday when Sikka resigned. Buyback will involve 4.92% of the total equity amounting to Rs 13,000 crore.
The Infosys board has emerged squarely blaming Murthy for Sikka's resignation, Rs 30,000 crore wiped out in stocks.
SBI has not revealed the categories of accounts on which the fine has been levied for non-compliance with its minimum balance requirements.
The PM, finance minister and economic survey emerged with varying statistics on the number of tax payers added since demonetization.
Sikka attributed his resignation to time-consuming 'disruptions' amid tensions between the founders and management on corporate mismanagement.
U B Pravin Rao will be the interim CEO and MD.
The ban affects jewelry, including partly processed jewelry, coins and medals.
India ranked 5th with 7 publicly traded companies listed in the top 200 globally.
Vegetable prices which had witnessed a 21.16 percent contraction in June, shot up by 21.95 percent in July.
The report said key investments will be in innovation in the fields of energy, transportation and manufacturing, among others.
Industry leaders say the city has become the ground for implementing the Make in India initiative.
UBI reported a net loss of Rs 211.46 crore in the quarter ended June 30, 2017 as compared to a net profit of Rs 38.32 crore in the year-ago period.
The subsonic train can cover the distance between Delhi and Mumbai within 55 minutes and Chennai and Bengaluru in 20 minutes.
The Tesla founder said that the looming war was a much lesser danger than that posed by the chatbots under development.
The research paper on RBI website says excess deposit growth during demonitization period was at 4-4.7 percentage points.
On a quarterly basis, factory output growth during April-June slowed down to 2 percent from 7.1 percent in the corresponding period last year.
Tighter monetary policy meant real interest rates were substantially higher than in comparable emerging economies, further clouding the economic outlook.
The shipbuilder, which also repairs ships, had seen strong investor interest in the IPO with the sale last week being subscribed more than 76 times.
The government's fiscal prudence has won strong backing from markets, helping spark a record-setting rally in stock markets and contributing to a rally in bond markets.
The employees fear that the central government would sell majority of the shares in future, leading to the privatization of the public sector unit.
Corporate income tax grew 7.2 percent on gross terms and personal income tax by 17.5 percent.
Sahara has asked for timeline review in depositing Rs 1,500 crore by September 7, as a part payment of Rs 24,000 crore it owes, to avoid a global auction.
The restrictions include limiting trading in the affected companies to once a month and curbs in the trading of shares held by the promoters and directors of the companies.
The prices of essential commodities had not reduced, he said, adding that more exemptions will be demanded in GST council meet.
The govt's line of thinking is that contracting private investment coupled with below target inflation warrants a 50-75 basis point rate cut.
The companies can now file a draft proposal with the NCLT, making full disclosures, subject to scrutiny and approval from the stock exchanges and regulators for alleged violations.
The growth in ITRs filed by individuals is 25.3 percent with over 2.79 crore returns having been received up to August 5 as against over 2.22 crore returns filed in the corresponding period last fiscal.
Effective on Saturday, the interest rate on savings bank balance of up to Rs 50 lakh has been reduced to 3.5 percent from the current annual 4 percent.
Investors bid for about 2.59 billion shares, compared with nearly 34 million shares on offer.
People who held bitcoins before the split will now have free access to an equal amount of bitcoin cash, can mine more at faster speeds and will be able to trade it for fiat currencies or other digital tokens.
The central bank attributed its prediction on factors such as planned pay hikes for government employees, a recovery in food prices, and the impact on prices from the launch of a national goods and services tax on July 1.
The RBI also cut the reverse repo rate by 25 bps to 5.75 percent.
There have been reports that suggest that Bahl and co- founder Rohit Bansal are trying to convince the Snapdeal Board to go for an alternate plan, instead of selling the company to Flipkart.
Citing legalities, the state GST department has not initiated any comprehensive action so far to stop producers and distributors making the most of GST or pass on the benefits to consumers.
Jeff Bezos, chairman and CEO of Amazon, was worth almost $91 billion after Amazon's share price rose more than 1 percent in morning trading in New York.
The Reserve Bank is reportedly expected to introduce Rs 200 notes in the coming months to ease pressure on lower- denomination currencies that are in short supply.
Jaitley said the first significant step taken by the government, which shook the system, was penal action against those who stashed money abroad.
The GST Council raised the cess on cigarettes to take away an estimated Rs 5,000 crore annual windfall manufacturers could have reaped from lower GST rates.
Gold imports declined to $2.45 billion from almost $5 billion a month ago.
Global soft drinks giant submitted before the Supreme Court that it would not resume operations in its controversial plant in Palakkad district’s Plachimada, thus ending a 12-year-long legal battle with local people.
Yusaffali's Birmingham-based Y International (UK) Ltd's role in boosting the UK's position as an investor friendly destination.
India’s first portfolio-driven platform for job seekers and recruiters, the one-year-old website, promoted by Bangalore-based ThoughtGrid Interactive, boasts of a talent pool that comprises more than 30,000 candidates, and over 4,500 employers.
Police teams have zeroed in on the prime suspect in Rajasthan who will be brought to Mumbai.
The mobile app will also help people link their 12- digit biometric identifier Aadhaar with PAN card.
The purchase comes after prime minister Narendra Modi's visit to the US in June when president Donald Trump said his country looked forward to exporting more energy products to India.
RBI has asked customers to inform their bank of unauthorized transactions or of online frauds within 3 days of it taking place.
India is examining the use of private vehicles as shared taxis in an effort to reduce car ownership and curb growing traffic congestion in major cities.
Soon, a notification may be issued by the Reserve Bank of India with regard to issuance of new Rs 200 bills.
The solicitor general then sought time to seek instructions for granting an opportunity to people to deposit their money on a case-by-case basis.
An additional levy of about eight percent under GST over 30 percent local body tax had pushed the total taxes to over 60 percent, theater owners say.
Microsoft officials in India have 'in principle agreed' to the request, Gulshan Rai, India's cyber security coordinator, told Reuters over the phone on Friday.
E-filing of ITR is mandatory for all individuals except whose income is less than Rs 5 lakh per annum and those who are above 80 years of age.
The thrust segments for investment will be consumer, industrial and solar electronics as also medical products and automotive electronics devices.
'Loan waiver schemes being doled out to farmers could have a significant impact on state government finances and pose risk of further fiscal slippages,' say Fitch Ratings.
As per the proposal, the 14 district co-operative banks will be integrated with the State Co-operative bank for the formation of Kerala Co-operative Bank, to be known as Kerala Bank.
Surviving on taxpayers' money, Air India has been in the red for long and various proposals, including government think tank Niti Aayog's suggestion for complete privatization, have been made.
Arun Jaitley said that fixed medical allowance for pensioners has been increased from Rs 500 to Rs 1,000 per month.
The MSME stand to benefit from the new GST regime. However, higher taxes on essential commodities in the manufacturing sector will pile inflationary pressure on entrepreneurs.
Noting that about 40 percent of the investment has already been declared, he said the proposed investment is huge for a small state like Kerala.
Kerala finance minister, however, said overall Kerala is going to benefit by GST but alleged that the Center has not put in place the requisite systems in his state for ushering in the new tax regime.
The highest credit concentration was in the western region which had more than one-third of the total outstanding credit at Rs 23,39,900 crore as of end-March 2015.
Petrol and diesel prices were de-regulated, or freed from government control from April 1, 2002 and the fortnightly revision in rates kicked in.
This bitter truth was disclosed in an RTI response by the Reserve Bank of India (RBI) and 19 PSU banks.
Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to 'attract top talent.'
The capacity to handle 30-50 million passengers per year will put the Jewar airport on par with the Mumbai airport, which sees 45 million passengers per year.
On extending the time limit of the retail outlets, the police would have to lift the curbs on eateries at night too.
All NGOs receiving foreign grants have been asked to give audited statements of their accounts, including income and expenditure statements with the government.
So far, Maharashtra and UP have waived nearly 30-40 percent of outstanding agri-bank credit, while for Punjab it was 15 percent, according to the report.
Dattatreya had made it clear that the EPFO will not construct houses for its subscribers but would act as a facilitator so that the members can buy homes.
Prime minister Narendra Modi and former prime minister Manmohan Singh will be among those who will attend the special event.
Thirty-one student startup founders from six states are on a week-long visit to Silicon Valley to pitch, network and learn.
Isaac lashed out at the attempts to lower taxes on lotteries in the GST Council meeting in New Delhi.
With this, Air Carnival has become the third regional carrier, after Air Pegasus and Air Costa, whose air operator permit has been suspended by the DGCA in the past eight months.
Companies will have to file sale invoice for August with the GST Network by September 20 instead of September 10 earlier.
The World Bank has decided to pull the credit line for the Kerala State Transport Project (KSTP) works that are almost sure to miss the December 2018 deadline.
The center would start functioning within four months with an investment of Rs 1.18 crore.
Customers can find out the dynamic rates via SMS and IOCL's (Indian Oil Corporation Limited) mobile app.
When Keralites buy commodities from shops in other states, if his Kerala address is marked on the bill, then tax is earned by the Kerala government.
Government would nominate four members from different sectors including IT, Banking and Co-operation to the Task Force within one week.
The top 10 sending countries account for almost half of annual flows, led by the US, Saudi Arabia and Russia.
Each of the defaulters identified by RBI owes over Rs 5,000 crore to banks.
The support was offered during a meeting between NITI Aayog officials and chief minister Pinarayi Vijayan.
Thousands in the trade are losing their income and job.
The slowdown in wholesale inflation comes against the backdrop of retail inflation easing to a multi-year low of 2.18 percent in May.
'The management is planning to hire at least 7,000 loco-pilots and another 13,000 personnel under various categories, including technical supervisors,' says the report.
All you need to know about linking Aadhar card with your PAN card.
A new batch of banknotes with inset letter 'A' in both the number panels are being issued.
For the first time since January 2012, food prices saw deflation in May (-1.05 percent) and the prospect of a good monsoon is likely to keep food inflation in check.
GSTIN is a 15-digit alpha numeric number code with PAN prefixed by state code and suffixed by 3 digit details of business verticals of the PAN holder.
The government empowered the RBI to ask banks to initiate insolvency proceedings to recover bad loans and promised more measures to resolve the NPA problem.
Bad loans in the power sector continue to weigh on banks, and the government has been looking for ways to help ease the pain for companies struggling to service their debts.
The GST council turns down proposals of Kerala to reduce the tax rate for plywood and give service tax exemption to non-AC restaurants.
Industry hails the GST Council's latest decisions as beneficial, particularly for small and medium enterprises.
This will be the largest single source of direct tax revenue for the government.
Cook's speech did not break new ground for him as head of the world's most valuable technology company but added some context around some of his past decisions.
'Economic growth of the state was 8 percent in 2015-16 and it was planned to target a 10 percent growth by making drastic changes in industrial sector in next 2 years,' says minister AC Moideen.
The Cochin Port Trust recorded growth of 19.44 percent in the two months, more than three times the national average gain of 5.56 percent.
Linking a person's Aadhaar with the PAN has been made a mandatory procedure for filing Income-Tax returns now.
The pound shed as much as three US cents at one point in hectic trade, or close to 2 percent, before steadying as the results waxed and waned.
A pilot for daily revision of petrol and diesel prices was first implemented in Puducherry, Vizag, Udaipur, Jamshedpur and Chandigarh from May 1.
The RBI also left its reverse repo rate unchanged at 6.00 percent after a surprise 25 basis point increase in April.
The running course designed to pass through the most picturesque parts of Kochi takes all participants through 42 inspirational historical landmarks.
Noting that the implementation of GST is a dream of prime minister Narendra Modi, the NITI Aayog CEO Amitabh Kant said it will bring a big revolution in India's taxation structure.
The minister asked why should the tax-payer's money worth Rs 55,000-60,000 crore be invested to save the debt-ridden airline.
The World Bank in its latest Global Economic Prospects, projects India's growth to 7.5 percent in 2018 and 7.7 percent in 2019.
With less than a month left for the rollout of the GST, the Indian Banks' Association has informed a Parliamentary panel that lenders are not yet geared up for implementation of the new indirect tax regime.
Apparel up to Rs 1,000, biscuits and footwear will get cheaper, while gold will get slightly costlier from next month as the Center and states, excepting West Bengal, resolve to rollout GST from July 1.
'We wholeheartedly welcome GST and One India, One Tax. But the current rate needs to be revised,' the actor-filmmaker says.
This is the first time that an Indian prime minister is attending the SPIEF forum, which is held annually in St. Petersburg
Jaitley spoke after data showed that India's economy suffered a growth slowdown in the quarter to March, to 6.1 percent, well below the expectations of independent economists.
The increase in price comes on the back of a Rs 2.16 per liter cut in petrol and Rs 2.10 a liter reduction in diesel prices effected from May 16.
Annual GDP growth for the January-March period came in at 6.1 percent, compared with a provisional 7.0 percent in the previous quarter.
Gold merchants expect to sell 650 to 750 tons of the yellow metal in India this year.
Prime minister Modi and German chancellor Angela Merkel underline their commitment to India's strategic partnership with the EU and their interest in developing it.
India could achieve double-digit growth if women's participation in the country's workforce is increased, said a World Bank report.
National passenger carrier Air India currently has a market share of 14 percent and a debt of Rs 50,000 crore.
'There is something wrong with our system when I can leave here and make billions of dollars in ten years when millions of students can't afford to pay off their loans, let alone start a business,' says Zuckerberg.
Isaac said the state government would soon take a decision on whether to call a special session or promulgate an ordinance to pass the crucial bill.
So far, only companies up to five years from the date of incorporation were eligible for concessions under the plan announced last year.
MakeMyTrip chairman & Group CEO Deep Kalra has taken over as vice chairman from music app Saavn co-founder and president Vinodh Bhat.
The gross non-performing assets of the public sector banks stood at Rs 6.06 lakh crore as on December 31, 2016.
Paytm is the third entity in the country to launch a payments bank after Airtel and India Post.
The company was also awaiting more information on Canada's search for fighter planes.
Laying emphasis on Public Private Partnerships (PPP) to implement metro rail projects, the Center has made it clear that it has no intentions to pour more money into urban rail systems.
The new four rate bands under Goods and Services Tax could complicate compliance and leave businesses at the mercy of an intrusive tax bureaucracy, say experts.
All classes of cars and SUVs as well as motorcycles of more than 350 cc engine capacity will also attract an additional cess.
Small cars will be charged 1 percent cess on top of 28 percent tax, mid-sized and luxury cars will attract cess of 15 percent on top of the peak rate.
The move could bring penalties for the drugmakers, among them Abbott Laboratories, Sanofi, Novartis and Indian firms such as Sun Pharmaceutical Industries and Lupin.
Ambani comes at the top of the list for his game changing efforts to bring the Internet to India's masses.
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity - PPBL - under the payments bank license.
Kerala Tourism and SilkAir will jointly conduct roadshows and other marketing programs like tactical and digital marketing, familiarization trips and trade fairs in the selected cities.
Stating that as many as 91 lakh persons have come under the tax net, Jaitley said he expects further increase in tax returns going ahead.
The event, at Marine Drive, Ernakulam, was aimed at bringing together MSMEs which could deliver high-quality products of international standards at competitive costs.
New home loans rates for up to 30 lakh for women will be 8.35 per cent and for other others, 8.40 per cent, mortgage lender HDFC Ltd said in a statement.
The RBI has asked banks to follow the instructions of government organization CERT-In on ransomware, which has impacted various IT networks in over 150 countries.
McKinsey & Company report had said nearly half of the workforce in the IT services firms will be 'irrelevant' over the next 3-4 years.
Cybersecurity experts said the spread of the virus which locked up more than 200,000 computers had slowed, but the respite might only be brief.
The 'Midas 2017' comprises 100 best venture capitalists in the world, taking into account a five-year look-back at a partner's portfolio.
IT majors like Wipro, Infosys, Cognizant, and more recently, Tech Mahindra have initiated annual performance reviews, a process that also weeds out bottom performers or non performers.
Twenty seven business leaders have roots from Kerala, followed by Sindhis and Gujarat with 23 and 16 respectively.
The announcement comes at a time when the market is abuzz with reports of Snapdeal being sold to rival Flipkart.
Television channels aired reports that the State Bank of India (SBI) will start imposing an ATM withdrawal fee of Rs. 25 per transaction.
Arvind Subramanian slams the international rating agencies for maintaining India's rating at BBB- despite improvement in economic fundamentals such as inflation, growth and current account performance.
The department's e-filing website has created a new link on its homepage making it easy to link the two unique identities of an individual.
Wipro is learned to have asked about 600 employees to leave as part of its annual 'performance appraisal' even as speculations were that the number could go as high as 2,000.
The aircraft offers a three-class configuration, comprising of four first class, 35 business class, and 303 economy class seats.
The investment recovery is expected to remain modest and uneven across sectors as deleveraging takes place and industrial capacity utilization picks up.
Under the new government scheme, loans under Rs 30 lakh qualify for affordable housing in which the borrower gets an interest subsidy of Rs 2.67 lakh per annum.
The company's livestock farm is spread over 40 acres near Kota and has 120 cows.
On winding up a branch, the SBI would have to surrender its license with the Reserve Bank of India.
The government issued a general authorization to RBI in this regard in line with the ordinance promulgated by president Pranab Mukherjee.
The e-verification of ITRs can be done through the Aadhaar number which will allow them to complete all the formalities with a click on the computer and the ITR-V will not have to be sent by post to the CPC.
The account holders can continue using the old codes until June 30 but it is better to switch to the new codes as early as possible, the SBI has advised.
The amendment will empower the RBI to issue direction to banks to recover non-performing assets from loan defaulters.
The offer begins from Wednesday and is available until May 6.
Radhakrishnan, who was airport director in Mangaluru International Airport since 2012, took charge on Tuesday, an official release said.
Thomas Isaac said the note crisis was continuing even after five months, though the Center promised that currency crunch would be over by 50 days after demonetization.
With this award, 75 percent of the Kochi-Koottanad-Mangaluru pipeline is now in construction phase.
Subsidized cooking gas price was hiked by about Rs 2 per cylinder and kerosene rate by 26 paisa a liter as the Center looks to eliminate subsidy on the fuel through small hikes.
Real estate players have also welcomed the implementation of the Act, saying it will bring a paradigm change in the way the Indian real estate sector functions.
Petrol and diesel prices are currently revised on a fortnightly basis.
The hike, which will be effective from Sunday midnight, comes on the back of Rs 1.39 per liter increase in petrol and Rs 1.04 a liter raise in diesel rates effected from April 16.
Abbott and Medtronic filed for withdrawal of some of their stents from India, but the government rejected their request, saying it contravened the nation's drug laws.
In the last 3 years, India's energy consumption has grown by about 6.5 percent compounded annual growth rate, more than the figure for the last 10 years.
Revenue secretary Hasmukh Adhia said that a task force set up by the PMO is monitoring these companies every 15 days.
With the formation of Kerala Bank, the present three-tie cooperative would be converted into a two-tier system.
The three-year draft action agenda stressed on reforms in taxation, agriculture and governance with a view to accelerate the all-round development of the country.
Mumbai: Markets raced past milestones on a record-setting spree on Wednesday, with the benchmark Sensex closing above the 30,000-mark for the first time, while the broader Nifty hit a new peak, buoyed by unabated funds inflows and a global rally.Stocks saw frenzied buying, in line with global
'Government will take necessary steps on the recommendations of the committee's report to form the Kerala Cooperative Bank,' says Kerala finance minister Thomas Isaac.
NITI Aayog member Debroy had said taxes should be imposed on farm income above a certain threshold to expand the tax base.
The aircraft is a symbol of China's ambitions to break into a duopoly enjoyed by Western giants Airbus and Boeing.
The fruit would be allowed into Australia as long as they were treated with irradiation before leaving India
GST, the biggest taxation reform since Independence, will subsume central excise, service tax, Value Added Tax (VAT) and other local levies to create a uniform market.
The consumers can book petrol and diesel online, and these will be delivered home by the oil marketing companies.
Hotels and restaurants will not decide on service charge to be levied but it will be at a customer's discretion.
The K9 VAJRA-T gun is an enhanced version of HTW's K9 Thunder which is known as one of the best performing self- propelled howitzers in the world.
At least six road-building projects in Kerala run the risk of losing World Bank funding due to the shoddy progress in work.
A report quoted Snapchat's ex-employee as saying that company CEO told him that 'the app is only for rich people. I don't want to expand into poor countries like India and Spain'.
Reports of the CEO's remark resulted in the rating of the popular app dropping to a 'single star' from an apparent 'five star' on the App Store.
The Metal Recycling Policy, on which the Niti Aayog has already met various stakeholders, is likely to be finalized over the next few months.
CEO Evan Spiegel reportedly said that the app was only for rich people. 'I don't want to expand into poor countries like India and Spain.'
Capacity addition on international routes have helped airfares to decline up to 28 percent.
The GST, the biggest taxation reform since Independence, will subsume central excise, service tax, Value Added Tax and other local levies.
Retail inflation jumps to five-month high of 3.81 percent in March on costlier protein items, edible oils and non-food products like fuel and light.
Oil refiners plan 'daily dynamic pricing' to identify problems ahead of nationwide rollout.
The spurt in air passenger traffic is giving wings to Kerala’s development dreams as it is expected to translate into more employment opportunities.
All cash payments of over Rs 2 lakh for paying loans and credit card bills during the 50-day period post demonetization will have to be disclosed in the new one-page Income Tax return form.
Adidas lets people customize the color and pattern of shoes ordered online but new 3D printing methods will make small production runs, limited edition shoes and even soles designed to fit an individual's weight.
The former prime minister pressed for constructive cooperation between the Center and the states in resolving outstanding issues.
India recorded a growth rate of 7.1 percent during 2016-17, notwithstanding the fears that demonetization of high-value currency notes in November last year would adversely impact the economic growth.
The Reserve Bank of India kept its repo rate at 6.25 percent for a third consecutive policy meeting as it continues to guard against any potential flare-up in inflation and an uncertain global economic environment.
Nasscom counts IT outsourcing firms like TCS, Infosys, Wipro as well as American firms like Cognizant, Microsoft, IBM and Accenture as members.
Private companies from Tamil Nadu have already approached farmers’ cooperatives in Kerala with an offer to supply Neera raw materials at a much cheaper price.
Many of the techies have challenged the harsh and heartless move by the companies in courts apart from approaching the labor department for justice.
The increase in the basic pay itself would take his gross pay to nearly Rs 3.70 lakh per month.
This is the first-time ever the annual Budget together with taxation proposals have come into effect from the first day of the financial year.
With this merger, the SBI will join the league of top 50 banks globally in terms of assets.
Petrol price will be cut by Rs 3.77 per liter, excluding state levies, said Indian Oil Corp (IOC). Actual decrease will be larger after taking into account the local levies.
The excise levy on petrol earned Rs 64,509 crore and while that on diesel garnered Rs 1,37,426 crore.
To match aggressive tariffs of newcomer Jio, Idea Cellular launched a plan offering 1GB of 4G data per day for Rs 300 a month to post paid customers.
Since April last year, interest rates of all small saving schemes have been recalibrated on a quarterly basis.
The Bill, being a money bill, will now go to the president for approval before becoming law.
The government faced a major embarrassment in the Rajya Sabha as five amendments moved by the opposition to the Finance Bill 2017 were adopted before the House approved the measure.
Once the new regime is implemented, the harassment of businesses by different authorities will end, says Jaitley.
Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income deductions have been clubbed in ITR1 form called 'Sahaj'.
The finance minister said the aim of the GST Council is to decide everything relating to the tax structure with consensus.
Come July 1 and leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will start attracting the Goods and Services Tax.
India produces 5.5 million jobs every year, but this number falls short of jobs needed to employ available talent.
The intention of this offer is to promote number of Internet users in BSNL network.
Retirement fund body EPFO has cut administrative charges to 0.65 percent of total wages of an employee from April 1, a move that will result in savings of around Rs 1,000 crore annually for about 6 lakh employers.
The finance ministry has called bankers into a meeting to discuss setting up a new facility to absorb surplus cash in the banking system, according to a letter sent to heads of lenders.
To keep pace with the changing trends and customer preferences, the National Association of Realtors-India (NAR-India) is trying to evolve as a client-centric and information-backed service entity.
Apart from allowing users in India to simply tap and pay on the go using their registered cards, Samsung Pay has integrated Paytm as well as the government’s Unified Payments Interface into the app.
India is home to 101 billionaires, the first time it has has more than 100 super rich individuals in the Forbes list.
The four supporting legislations, including the one on compensation to states, would be introduced as a Money Bill, sources said.
Ambani said second Green Revolution in India is possible through digital revolution.
Be smart, switch over to India Post ATM to avoid fleecing by banks and hidden charges.
The 15 percent cess cap would apply on luxury cars and aerated drinks. On pan masala, the cess has been capped at 135 percent ad valorem.
Some critics say that a lack of clarity is pushing bond yields higher, and that in turn could send interest rates higher and restrain economic growth.