Business

11.4 lakh transactions settled in 8 hours after RBI operationalises NEFT 24X7

December 17, 2019 8:49 AM

11.4 lakh transactions settled in 8 hours after RBI operationalises NEFT 24X7

The Reserve Bank has informed that about 11.4 lakh transactions were settled in the first eight hours after the round the clock operation of National Electronic Funds Transfer - NEFT system came into force from 12:00 am today. The RBI said, making NEFT available 24x7 is part of its vision of empower...

FM Sitharaman holds 2nd pre-budget consultations with stakeholders

December 16, 2019 6:18 PM

FM Sitharaman holds 2nd pre-budget consultations with stakeholders

Finance Minister Nirmala Sitharaman held her 2nd pre-budget consultations with stakeholders' groups from the Financial Sector and Capital Markets in New Delhi today. The meeting took place in connection with the forthcoming Union Budget 2020-21. The Finance Minister is likely to present her...

WPI rises to 0.58 per cent in November

December 16, 2019 2:38 PM

WPI rises to 0.58 per cent in November

Wholesale prices based inflation rose to 0.58 per cent in November, as against 0.16 per cent in October. The annual inflation, based on monthly wholesale price index (WPI), was at 4.47 per cent in November last year.

Mandatory to link PAN-Aadhaar by Dec 31: Income Tax Department

December 16, 2019 8:48 AM

Mandatory to link PAN-Aadhaar by Dec 31: Income Tax Department

The Income Tax Department has said that it will be mandatory to link Permanent Account Number (PAN) with Aadhaar by the end of this month. This will facilitate to reap seamless benefits of income tax services. The deadline for linking PAN with Aadhaar was extended till the 31st of December, by Centr...

IBC (Second Amendment) Bill, 2019 introduced in LS

December 12, 2019 1:36 PM

IBC (Second Amendment) Bill, 2019 introduced in LS

The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 has been introduced in the Lok Sabha. It was introduced today by Finance Minister Nirmala Sitharaman during the pre-lunch session. The amendment is for streamlining corporate insolvency resolution process and to protect last-mile fundi...

Mobile Number Portability going to be fast, simple from Dec 16

December 11, 2019 8:18 AM

Mobile Number Portability going to be fast, simple from Dec 16

The Mobile Number Portability (MNP) process is going to be fast and simple from December 16. Telecom regulator TRAI issued a public notice in this regard, yesterday. Under the new rules, it would take only 3 days to port from one network to another in the same circle while Porting for another circle...

SBI announces reduction in one-year MCLR by 10 basis points

December 10, 2019 3:41 PM

SBI announces reduction in one-year MCLR by 10 basis points

Country's largest lender State Bank of India has announced the reduction in its marginal cost of fund based lending rate (MCLR) by 10 basis points across all one-year products. It will be effective from today. This is the eighth consecutive cut in MCLR by the lender this fiscal. The new one...

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