BUSINESS AWAAZ

RBI’s status quo on policy rates in line with expectations: CII

CII Tuesday said RBI’s decision to maintain status quo was in line with expectations as there has already been a reduction of 50 base points in the last policy. CII Director General, Chandrajit Banerjee said the focus has now shifted to the transmission of lower policy rates to banks’ lending rates. He said banks need … Continue reading RBI’s status quo on policy rates in line with expectations: CII

Details for two Railways factories in Bihar

Indian Railways on November 30 signed Rs 40,000 crore contracts with GE and Alstom to set up two locomotive plants in Bihar. First venture the electric locomotive factory will be set up at Madhepura and diesel locomotive will be established at Marhowrah. Here is the detail of the two factories:- (a) Background :- The Cabinet in December 2006 … Continue reading Details for two Railways factories in Bihar

RBI keeps key rates unchanged, sees space for more accommodation

AMN / Reserve Bank of India today kept the key policy rates unchanged in its fifth bi-monthly monetary policy review.The repo rate, at which RBI lends money to banks, stayed at 6.75 per cent, while the reverse repo rate, at which RBI borrows money from banks, was at 5.75 percent. The cash reserve ratio, which … Continue reading RBI keeps key rates unchanged, sees space for more accommodation

GDP growth will be better than last year: Arun Jaitley

AMN / Finance Minister Arun Jaitley has said that GDP in the current fiscal will be better than the 7.3 per cent growth rate recorded in the last financial year. Talking to reporters in New Delhi yesterday, Mr Jaitley said manufacturing sector recorded a significant growth of 9.3 per cent in the September quarter despite … Continue reading GDP growth will be better than last year: Arun Jaitley

Petrol cheaper by 58 paise, diesel 25 paise

  The price of petrol was today decreased by 58 paise per litre and that of diesel by 25 paise. Diesel rates were not changed on November 1, however, it increased by 95 paise on October 16 and 50 paise on October 1. Rates of diesel were decreased by 50 paise on September 1. Previous … Continue reading Petrol cheaper by 58 paise, diesel 25 paise

FM to hold meeting with banks to assess gold monetization scheme

Finance Ministry will hold a review meeting with banks and RBI representatives on Tuesday to assess gold monetization scheme. Launched at this month the scheme has seen a slow response. The Meeting will be chaired by Economic Affairs Secretary Shaktikanta Das and also likely to be attended by RBI Deputy Governor H R Khan. Banks … Continue reading FM to hold meeting with banks to assess gold monetization scheme

Jaitley for creating ecosystem to boost shipments to markets

 35th India International Trade Fair comes to an end  AMN  / Concerned over slowing global demand and declining exports Finance Minister Arun Jaitley Friday underlined the need for creating an ecosystem to boost shipments to the markets overseas. Speaking at the closing ceremony of 35th India International Trade Fair in New Delhi, he asked exporters … Continue reading Jaitley for creating ecosystem to boost shipments to markets

Govt to set up $1 bn pvt equity fund for renewable energy

AMN / Minister for Environment, Forests and Climate Change Prakash Javadekar has said that India is taking a leadership role in COP21 Paris and the summit will take forward the United Nations Framework Convention on Climate Change. Interacting with the Twitterati through Talkathon programme organised by Ministry of Information and Broadcasting in New Delhi today, … Continue reading Govt to set up $1 bn pvt equity fund for renewable energy

Govt gets 63,000 applications for first tranche of gold bonds

Government has received an overwhelming response from the retail investors for Sovereign Gold Bond Scheme. An official statement said, 63 thousand applications have been received for a total of 246.20 crore rupees by the banks and post offices for 917 kilos of gold. The Ministry has taken a number of decisions to improve the reach … Continue reading Govt gets 63,000 applications for first tranche of gold bonds

AITAF urges FM to introduce Tax Disputes Settlement Scheme in next Budget

ADITYA RAJ DAS / AMN NEW DELHI: In the run up to the General Budget 2016-17 the All India Tax Advocates Forum (AITAF) has urged the Finance Minister Arun Jaitley to introduce a Tax Disputes Settlement Scheme to resolve numerous tax disputes pending under the present Indirect Tax laws—both Central and State laws—before the Goods … Continue reading AITAF urges FM to introduce Tax Disputes Settlement Scheme in next Budget

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