Business

March 30, 2016 1:37 PM

Vijay Mallya offers to pay Rs 4,000 crore by September 30

Businessman Vijay Mallya today offered to pay 4,000 crore rupees by September 30 this year to a consortium of banks, led by the SBI, against an outstanding loan of 9,000 crore rupees. Mallya offered to pay 2,000 crore rupees upfront and remaining 2,000 crore rupees by September 31.Mallya's ...

March 30, 2016 1:35 PM

Vijay Mallya offers to pay Rs 4,000 crore by September 31

Businessman Vijay Mallya today offered to pay 4,000 crore rupees by September 31 this year to a consortium of banks, led by the SBI, against an outstanding loan of 9,000 crore rupees. Mallya offered to pay 2,000 crore rupees upfront and remaining 2,000 crore rupees by September 31.Mallya's ...

March 30, 2016 1:15 PM

Bank loan fraud: ED attaches assets worth Rs 112 cr of media firm

Enforcement Directorate, ED, today issued orders for attachment of assets worth 112 crore rupees of a Noida-based media firm in connection with its money laundering probe against it. The firm, Century Communication Limited, and its promoters had launched India's first all Bhojpuri news chan...

March 30, 2016 1:14 PM

Jaitley calls for exposure of Australian future and super funds in India

Finance Minister Arun Jaitley said that the Australian future and super funds be exposed to India. He raised this point during his bilateral meeting with the Treasurer of Australia Mr Scott Morrison in Sydney today. Calling for increase in investment by Australia businesses in India as they can get ...

March 30, 2016 8:24 AM

Govt resolves various taxation issues: Jaitley

Finance Minister Arun Jaitley has said the government has resolved various issues with regard to taxation. He said the government is gradually working to bring down the corporate tax rates to the global level. Speaking on the theme of 'Reimagining the Indian economy' at a Managemen...

March 30, 2016 8:23 AM

SEBI hikes FPI investment limit for govt debt

Markets regulator, the Securities and Exchange Board of India, Sebi decided to increase the Foreign Portfolio Investors (FPI) investment limit in central government securities to Rs 1,40,000 crore from April 4. This will boost inflows of foreign funds into Indian capital markets. It will be further ...

March 30, 2016 8:23 AM

Inoperative PF accounts to earn interest from April 1

Employees' Provident Fund Organisation (EPFO) has decided to provide interest on inoperative accounts from 1st of next month. The move will benefit over nine crore such account-holders with a total deposits of over Rs 32,000 crore. The decision was taken by the EPFO apex decision making bod...

March 30, 2016 8:23 AM

Govt to provide sufficient funds to recapitalise banks: Arun Jaitley

Union Finance Minister Arun Jaitley has said that banks have an important role to play in achieving the higher growth rate in the country. Mr. Jaitley was speaking after inaugurating the Sydney Branch of the Union Bank of India in Australia . He also added that Government will provide sufficient fun...

March 30, 2016 8:03 AM

RBI cancels registration of 22 NBFCs

Reserve Bank of India has canceled registration of 22 non-banking finance companies (NBFCs) including Amazan Capital and Mascot Commerce. In a statement, RBI said, these companies now cannot transact the business of a non-banking financial institution.These companies include Kundan Leasing and Finve...

March 29, 2016 8:39 PM

SEBI hikes FPI investment limit for govt debt

Markets regulator, the Securities and Exchange Board of India, Sebi today decided to increase the Foreign Portfolio Investors (FPI) investment limit in central government securities to Rs 1,40,000 crore from April 4. This will boost inflows of foreign funds into Indian capital markets. It will be fu...

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