The Cabinet Committee on Economic Affairs, CCEA today approved conversion of Working Capital Term Loan given by Bank of Baroda of nearly 30 crore rupees to Andrew Yule and Company into equity. The decision will bring down cost of debt servicing by Andrew Yule and Company Limited resulting in improved profitability and liquidity. The CCEA … Continue reading Govt approves converting nearly Rs 30 cr Andrew Yule loan to equity
The Union Cabinet today approved implementation of National Hydrology Project, NHP and National Water Informatics Centre. It will cost around 3 thousand 6 hundred 80 crore rupees. Implementation of NHP will ensure improvement in Data storage, exchange, analysis through National Water Informatics Centre. It will increase lead time in flood forecast from one day to … Continue reading Cabinet approves implementation of National Hydrology Project
TIA NEWS Amid the controversy over the panama papers leak, the RBI Governor Raghuram Rajan today said that there could be genuine reasons for having offshore accounts. Talking to media persons, he said that the RBI is part of the multi-agency probe that will look into the legitimacy of holdings of Indians named in the … Continue reading There could be genuine reasons for offshore accounts: Rajan on Panama Leak
International Monetary Fund said, with strong growth and rising real income, India remains a bright spot in the global economy. In a policy address, in Frankfurt, IMF Chief Christine Lagarde said, India has reduced spending on costly energy subsidies so it can invest more in growth-enhancing social infrastructure. She said, overall, the global outlook has … Continue reading India a bright spot in global economy: IMF
Moody’s Investors Service today said the 25 basis point cut in the policy rate by RBI is in line with market expectations and cautioned that inflation could rise in the event of unfavourable monsoon and a sharp currency depreciation. Moody’s said a moderate growth in India, spare capacity in industry and low global commodity prices … Continue reading Inflation could rise on bad monsoon, currency decline: Moody’s
AMN / The Reserve Bank of India (RBI) today announced a 25 basis cut in its policy interest rate, lowering it to more than five-year low. The prevailing rate now stands at 6.5 per cent. The central bank also announced reduction in minimum daily maintenance of cash reserve ratio from 95 per cent to 90 … Continue reading RBI cuts repo rate by 25 basis points to 6.5%
Finance Minister Arun Jaitley has said interest rates must become more competitive so that high cost of capital does not add to cost. He said Reserve Bank has done well in the last one and a half years to gradually follow a particular direction. Welcoming RBI action, Minister of State for Finance Jayant Sinha said … Continue reading Interest rates must become more competitive: FM
TIA NEWS / Government of India today set up a multi agency group to monitor the disclosures of Panama Papers and act upon them. It said strict action will be taken against the holders of illegal accounts revealed by the papers. The Indian Express today published a report mentioning the secret list of about 500 … Continue reading India to probe disclosures of Panama Papers
Government Monday said that e-commerce guidelines have brought in greater clarity about the sector and they will provide a level playing field to both online and offline stores. Talking to media in New Delhi, Commerce and Industry Minister Nirmala Sitharaman said, she was very enthused and encouraged by various write-ups in newspapers that the clarification … Continue reading E-comm norms to provide clarity in business: Nirmala
Income tax department has processed more than four crore income tax returns, an increase of over 35 per cent over the previous year. The Central Board Direct Taxes (CBDT) in a release said, Centralized Processing Centre at Bengaluru has issued refunds to the tune of 37 thousand 870 crore rupees in an automated manner of … Continue reading IT dept processes more than four crore income tax returns
The Supreme Court has appointed former apex court judge Justice DK Jain as the first court-appointed ombudsman ...
Olympics: IOC suspends all Indian applications to host future events after Pak athletes denied visas
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AMN / NEW DELHI President Ram Nath Kovind today conferred the Pradhan Mantri Rashtriya ...
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