India should export 30 percent of its GDP, but presently it is only 10 percent, says World Bank Chief Economist Hans Timmer. India’s economic growth in recent years has been “too much” driven by domestic demand and its exports were about one third of its potential, a World Bank official said, asserting that the next […]
Business organisations using Aadhaar services will now have to pay ₹20 for each customer verification and 50 paise for authentication of each transaction carried out by the entities, the Unique Identification Authority of India (UIDAI) said on Thursday. “Aadhaar authentication services shall be charged at the rate of ₹20 (including taxes) for each e-KYC transaction […]
On Friday Finance Minister Arun Jaitely said in Lok Sabha that there would be no loss of jobs due the merger of public sector banks. Earlier this week, the cabinet approved the merger of Vijya Bank and Dena Bank with Bank of Baroda. Jaitely said that there would be no loss of jobs due to […]
The centre on Monday 17th September proposed to unite the state owned banks Baroda, Dena Bank and Vijaya Bank to create India’s third largest bank as parts of reforms in the public sector banking segment. The merger of these three banks follows the merger of State Bank of India and its associate banks in 2017. […]
Mumbai :The Reserve Bank said it has imposed a penalty of Rs 3 crore on Axis Bank for violation of NPA classification norms, and Rs 2 crore on Indian Overseas Bank for not complying with the KYC regulations, says a PTI report (March 5). RBI said it had carried out a statutory inspection of private […]
Ahmedabad: Former prime minister Manmohan Singh on Tuesday dubbed the Centre’s much touted bullet train project, an “exercise in vanity”. He said the government’s “priorities are misplaced” as it should have focused on the existing passenger rail network. Addressing a party event for the business community in Gujarat, the Congress leader pointed out that the […]
Bank customers are being bombarded by ominous messages, emails and calls from banks about the dire consequences they could face if they fail to link their Aadhaar number to their bank accounts before the December 31 deadline. Tn June, the government had issued a notification amending the Prevention of Money Laundering (Maintenance of Record) Rules, […]
NEW DELHI: The central bank will soon issue 200-rupee note the Finance Ministry has confirmed today. The move will help fill the vast demand for cash after the notes ban, which wiped out over 85 per cent of the cash in circulation. The Finance Ministry, in a notification, said that on the recommendations of the […]
New Delhi, Jun 28 (PTI) The government has made it mandatory to link existing Aadhaar numbers with PAN of taxpayers with effect from July 1. Amending income tax rules and notifying the same, the government has made quoting of the 12-digit biometric Aadhaar or the enrolment ID a must at the time of application of […]
About a month ago (23-24 March) policymakers, private sector actors and civil society representatives from across South Asia, and local and international researchers, came together in Kathmandu to explore ways to use data and evidence-based policy to promote women’s economic empowerment. The four represented nations—Nepal, Bangladesh, India and Pakistan—have had varied experiences in this context. […]
New Delhi: From May 1, petrol and diesel prices will change every day in sync with international rates, much like what happens in most advanced markets. Here’s progress! Pondicherry, Vizag, Jamshedpur, Udaipur, and Chandigarh will kick off the new rate regime. State-owned fuel retailers Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan […]
New Delhi: Some 21,54,000 people owe the government less than Rs 100 in tax. As a ‘one time measure’, the government has decided to write off their outstanding taxes ( 21.54 lakh taxpayers who owe Rs 100 or less). These small tax payers form about 16 percent of all ‘tax due’ cases. This was stated […]
