IBA data: Rising NPAs in education loan add to banks stress
Education loans too have started bleeding the banking sector with the default in repayment rising to 7.67 per cent of the outstanding amount at March-end, 2017 from 5.7 per cent…
Govt directs NGOs to open account in any of 32 designated banks
Home Ministry has directed all NGOs, business entities and individuals who receive funds from abroad to open accounts in any of the 32 designated banks, within a month for higher…
Govt empowers taxman to get defaulters address for sending notices
NEW DELHI The government has amended rules and empowered the taxman to use banking, insurance and municipal corporation’s database to obtain address of a hiding or an untraceable income tax…
Govt extends deadline for stickers reflecting new MRP after GST
AMN The government has allowed companies till March next year to paste price stickers on unsold packaged products to reflect new MRP post GST. This was stated by Food and…
Govt dismisses rumours about closing down of banks
AMN / NEW DELHI Government has dismissed rumours about closing down of public sector banks. The government has said, there is no question of closure of any public sector bank.…
India—all set to emerge as fastest growing economy
By ADITYA RAJ DAS India is set to emerge as the fastest growing economy once again. The United Nations has recently put out a report, saying, India’s economy is expected…
Every deposit in banks is safe: Jaitely
ONKAR SINGH/NEW DELHI Finance Minister Arun Jaitley Thursday assured the Lok Sabha that every deposit of the people in public sector banks is safe and there should not be any…
Govt to impose 30% import duty on Chana, Masoor
AMN The Government has decided to impose 30 per cent import duty on Chana (Chickpeas) and Masoor (Lentils) with immediate effect. The Ministry of Finance said, the production of Chickpeas…
Govt approves new Bill seeking to safeguard consumer rights
AMN Union Cabinet has approved a new Consumer Protection Bill that seeks to establish an authority to safeguard consumers’ rights, has the provisions for penalty and jail terms in case…
Govt approves new skill development scheme in Textiles sector
AMN / NEW DELHI Cabinet Committee on Economic Affairs Wednesday gave approval for a new skill development scheme covering the entire value chain of the textile sector excluding spinning and…