Joint Parliament Standing Committee clears Bankruptcy Law: FM

Finance Minister Arun Jaitley today said the Joint Parliamentary Standing Committee has cleared the Bankruptcy and Insolvency Code and is likely to be discussed in the current Budget Session of Parliament. Addressing the second meeting of the Consultative Committee on Non Performing Assets , NPAs, M...

Govt takes measures to deal with NPAs in banking sector: Jaitley

Government has taken various measures to deal with the issue of Non Performing Assets in Banking Sector especially in case of Public Sector Banks. Finance Minister Arun Jaitley said this today while addressing a meeting of the Consultative Committee attached to the Finance Ministry in New Delhi. Mr....

SC asks FinMin to explain NPAs recovery mechanism

Supreme Court has asked Union Finance Ministry to inform it about the mechanism in place for recovery of huge Non-Performing Assets (NPAs). The apex court asked the ministry to inform as to what safeguards it is bringing in to curb bad debt. Supreme Court also observed that if the present system wou...

IT dept to pay interest on TDS refund

Income Tax department will now add interest amount to a delayed refund made on excess Tax Deducted at Source (TDS) deductions and will also not litigate with the deductor on this issue in the future. Central Board of Direct Taxes yesterday issued a directive in this regard to the assessing officers ...

GST roll out, infra funding an uphill climb for India: Moody's

Implementation of the Goods and Services Tax (GST) and bridging large infrastructure deficit are a difficult task before the Indian government, Moody's Investors Service said today. In a report, Moody's said a history of double-digit inflation, elevated government debt, weak infras...

RBI takes various steps for recovery of NPA: Jayant Sinha

Mitsubishi Motors admits to false mileage tests done since 1991

Mitsubishi Motors has admitted to falsifying some fuel consumption tests since 1991. The admission follows last week's revelation that it had falsified fuel economy data for more than 600 thousand vehicles sold in Japan. Company vice-president told a press conference in Tokyo that for the d...

EPFO aims to make Aadhaar as identifier to settle PF claim

Employees Provident Fund Organisation (EPFO) plans to make Aadhaar as primary identifier for settling Aadhaar-seeded Provident Fund (PF) accounts without employers' attestation. This is part of EPFO's special drive to consolidate multiple accounts of an employee. In a statement, EP...

Mitsubishi Motors admits to false mileage tests done since 1991

Mitsubishi Motors has admitted to falsifying some fuel consumption tests since 1991. The admission follows last week's revelation that it had falsified fuel economy data for more than 600 thousand vehicles sold in Japan. Company vice-president told a press conference in Tokyo today that for...

India narrowing gap with China on FDI inflows: Nomura

India may this year surpass China in attracting foreign direct investment, in terms of percentage of its GDP, as the gap in inflows between the two has been narrowing on the back of ongoing reforms in the country. According to the Japanese financial services firm Nomura, the trend of rising inflows ...