Business

Mumbai: Directors of two companies held for GST fraud

March 1, 2018 9:19 AM

Mumbai: Directors of two companies held for GST fraud

CGST Mumbai Central Commissionerate arrested the directors of two companies for allegedly availing of tax credit in a fraudulent manner. Sanjiv Pravin Mehta, director of Shah Brothers Ispat Pvt Ltd, and Vinaykumar D Arya, director of V N Industries, both were arrested for availing of ineligible cred...

Indian economy grows 5-quarter high of 7.2% in Oct-Dec period

February 28, 2018 8:48 PM

Indian economy grows 5-quarter high of 7.2% in Oct-Dec period

The Indian economy grew at five-quarter high of seven point two per cent in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services. The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31...

Core sector grows at 6.7 pc in January

February 28, 2018 7:17 PM

Core sector grows at 6.7 pc in January

Eight infrastructure sectors grew at a faster pace of 6(point)7 per cent in January against 3(point)4 per cent in the year-ago month as petroleum refinery and cement output zoomed while steel power and coal production improved. The eight core sectors -coal, crude oil, natural gas, refinery products,...

No extension beyond Feb 28 for KYC-compliance by prepaid wallet customers: RBI

February 27, 2018 7:01 AM

No extension beyond Feb 28 for KYC-compliance by prepaid wallet customers: RBI

The Reserve Bank of India has said there will not be any extension to tomorrow's deadline for mandatory KYC-compliance by prepaid wallet customers.  Deputy governor BP Kanungo told reporters in Mumbai last evening that sufficient time has already been given to meet the prescribed guidelines...

FinMin puts out list of 9500 high-risk finance companies

February 26, 2018 11:53 AM

FinMin puts out list of 9500 high-risk finance companies

Financial Intelligence Unit (FIU) has released a list of around 9500 Non-Banking Financial Companies (NBFCs), which have been categorised as high-risk financial institutions.  The FIU under the Finance Ministry has released the list on its website showing the names of these NBFCs which have been fou...

Rupee weakens 30 paise against dollar in early trade

February 22, 2018 10:19 AM

Rupee weakens 30 paise against dollar in early trade

The rupee weakened by 30 paise to trade at a three-month low of 65.06 against the US dollar in opening session today.  Meanwhile, the benchmark BSE Sensex fell 144 points to 33,700 in early trade today.

Sensex, Nifty erase early gains to end lower

February 20, 2018 5:48 PM

Sensex, Nifty erase early gains to end lower

The BSE Sensex erased all its early gains to finish lower by over 71 points today, extending fall to a third straight session.  The 30-share Sensex had soared over 186 points to hit a high of 33,961 in early trade but gave up its gains completely following late sell-off, which dragged it down to a l...

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