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July 22, 2016 6:54 AM
Reserve Bank will shortly start monitoring banks on issues relating to customer rights in five broad areas. RBI Executive Director U S Paliwal said the areas on which the regulator will be conducting surveys and supervision at various banks are - right to privacy, right to fair treatment & t...
July 21, 2016 8:47 PM
Special Investigation Team (SIT) has asked the Enforcement Directorate and Directorate of Revenue Intelligence (DRI) to act against companies claiming duty drawback without repatriating export proceeds, to check black money menace. Finance Ministry in a release said, action is to be taken under Fore...
July 21, 2016 6:03 PM
Income Tax Department will issue seven lakh letters seeking information regarding high value non PAN transactions. An official release issued today, said various types of high-value transactions were being reported to the Income Tax Department under the Annual Information Returns. These include repo...
July 21, 2016 5:10 PM
The New Development Bank launched by 5 emerging economies, known as BRICS, has announced its first round of loans worth about 900 million dollars. The Bank held its first general meeting in Shanghai yesterday. Brazil, Russia, India, China and South Africa established the institution last year. The f...
July 21, 2016 4:40 PM
Seven Indian companies have made it to the latest Fortune 500 list of the world's biggest corporations in terms of revenue with the retail giant Walmart topping the global rankings.Indian Oil Corp is ranked highest at 161st among Indian firms, .Among the seven Indian companies, four are fro...
July 20, 2016 8:31 PM
The government today clarified that savings resulting from Direct Benefit Transfer of LPG scheme PAHAL is estimated to be Rs 21,261 crore since the launch of the scheme in 2014-15. The clarification came in the backdrop of a newspaper report which had said that government's actual savings w...
July 20, 2016 2:07 PM
The International Monetary Fund (IMF) has revised downward its global economic growth forecast for next year after the British people voted to leave the European Union. The fund said, the world economy will expand by 3.4 percent in 2017, down 0.1 percentage point from their April report. The cut ste...
July 20, 2016 2:05 PM
US stock indices ended mixed, yesterday, as investors let up on the accelerator after a three-week rally sent indices to all-time highs. So the Dow Jones industrial average inched higher for its eighth consecutive gain to set another record. But the Standard & Poor's 500 index pulle...
July 20, 2016 1:34 PM
A report by Japanese financial services major, Nomura, has said, Goods and Services Tax (GST), which aims to simplify indirect tax regime, will be a game-changer for India and its implementation is likely to take place from April next year. The report said, while short-term macroeconomic implication...
July 20, 2016 12:15 PM
The Federation of Indian Chambers of Commerce and Industry (FICCI) has called for restarting negotiations for India's Free Trade Agreements with UK and European Union (EU). Addressing the South Asian Diaspora Convention in Singapore last night, FICCI Secretary General A Didar Singh said, In...
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