Economy News - Page 9

RBI's SS Mundra feels some banks using service charges to drive customers away

Most of the banks have introduced charges on non-maintenance of minimum balance in accounts and for using banking-related facilities.

Ahead of GST roll out, Indian economy gets a consumer spending boost as note ban impact wanes

The impact of the new tax regime is not clear -- some items are expected to be cheaper -- but the prospect of a price rise is seen pushing some people to buy ahead of July.

Meghalaya-Myanmar highway project likely to start next month, says Nitin Gadkari

With the Cabinet approving Rs 2,000 crore from a central fund for development of water transport, operationalising at least 10 of the 111 national waterways by next year is on top of the government's agenda.

Waiting for loan waiver, Punjab farmers stop repaying banks; 30% accounts turn 'irregular'

At present, the total agricultural debt in Punjab is pegged at Rs 85,000 crore, of which total loan to farmers including marginal and small growers was Rs 72,700 crore.

India Mobile Congress to showcase India's telecom prowess: Telecom minister

The event, to be held in New Delhi, is being billed as India's answer to high profile and marquee mobile shows that are held annually in markets like Shanghai and Barcelona.

New Re 1 notes, with finance secy Shaktikanta Das's signature, coming soon

"The colour of One Rupee Currency Note shall be predominantly pink green on obverse and reverse in combination with others," the RBI said.

GST: Hasmukh Adhia says not ruling out rationalisation of tax rates

Adhia said a decision on the rates of foodgrains, especially wheat and rice, would be taken at the 3 June meeting

Cyber frauds: RBI norms to protect customer in online banking transactions soon

Last year in August, RBI had issued draft circular on limiting liability of customers in case on fraudulent banking transactions

Air India revival: Future roadmap likely to emerge in three months says ministry official

Senior official in the ministry of civil aviation said NITI Aayog had sent a set of recommendations to the ministry a month back, which is when the set of events culminating in FM Arun Jaitley talking of disinvestment, started

Genetically modified mustard no solution for India’s Rs 64,000 crore edible oil import bill, low farm income

Pushing farmers to grow oilseeds again will mean making the crop as attractive as cotton, one of its main competitors for requiring similar agro-climatic conditions.

IT layoffs: Techies well taken care of, no need for union, says V Balakrishnan

Whenever there is a downturn, there is always noise about unions coming into play in the IT industry but it never sustained, Balakrishnan said

India's SMEs need to be empowered with access to funds, not mere provisions of accounts, subsidies

Traditionally, SMEs have remained a financially unorganised sector. The operations and ownership of such businesses have remained confined to the family or a small group of associates.

CBI Air India probe: UPA cannot escape allegations of failure at several levels in pushing merger

There are a number of explanations the UPA government and its functionaries owe about their handling of Air India

How India can work on medicinal plants conservation areas to boost its share in global tourism

It is important to initiate Medicinal Plants Conservation areas (MPCAs) as medicinal plants are linked to health and livelihood security of rural people.

World Bank report says India can clock double-digit growth if women share in total labour force increases

World Bank said nearly two-thirds of Indian women with college degrees are without jobs

Bank loan stress: 50 corporate loan accounts under close govt watch, says report

The bank loans under scanner include those that have become NPAs and also those restructured as of December 2016

Sebi proposes tighter rules for participatory notes, to impose $1,000 regulatory fee

If adopted, SEBI's plan would be the latest stringent action against controversial products created by banks to track Indian derivatives, shares and debt products and then sold to overseas investors.

Hand baggage tags not required for domestic flyers at six more airports from 1 June

The new airports include Jaipur, Guwahati, Lucknow and Trivandrum, apart from Patna and Chennai.

GST: Panasonic India, industry body for higher customs duty to thwart cheap imports

The issue of transition stock provision is still under consideration and the GST Council is likely to finalise the provision in its next meeting on 3 June.

GST: Real estate, liquor kept out as influential people run them, says Manish Sisodia

Sisodia said many politicians "invest their black money" in real estate business.

Cattle trade ban to halt beef exports, lead to job losses; Quresh committee, others to move SC

Prime Minister Narendra Modi's government decreed animal markets will only be able to trade cattle for agricultural purposes such as ploughing and dairy production.

Coal India March quarter net profit drops by 38% to Rs 2,716 cr

#CoalIndia' s consolidated income increased to Rs 26,635.9 crore in the last quarter of FY2016-17

CBI lodges cases to probe Indian Airlines-Air India merger, purchase of 111 planes

FIRs have been registered for offences of criminal conspiracy and corruption against unidentified officials of the civil aviation ministry and Air India

Narendra Modi on 4-nation tour: India's economic relations with Germany, Russia, France, Spain in charts

India's economic relationship with the four European countries in six charts

Cattle slaughter ban: Buffaloes likely to be removed from list after stiff opposition from states

The list of animals that cannot be bought or sold for slaughter through cattle markets includes cows, bulls, buffaloes, heifers, calves and camels

Arun Jaitley to visit Paris next week, sign OECD pact on cross border tax evasion

The convention is an outcome of the OECD-G20 BEPS project to tackle base erosion and profit shifting (BEPS) which is resorted to by MNCs through tax planning strategies by exploiting gaps and mismatches in tax rules.

India remains fastest growing major economy globally in Jan-March quarter, finds poll

Prime Minister Narendra Modi's ban of high-value currency notes last year had a major short-term impact on demand but private and public consumption has recovered.

GST rollout: Cess to yield Rs 55,000 cr in first 9 months; coal to be top contributor

The amount to be raised through cess on coal as well as luxury items and sin goods will be used for compensating states for revenue shortfall

Narendra Modi's four-nation tour: PM travels with a bagful of wares and a strong sales pitch

The highlight of Narendra Modi's speeches during the tour is likely to be his achievement in making the GST a reality and his efforts to simplify myriad laws for foreign investors, including recent abolition of FIPB