11.2% rise in banking-related complaints in FY15: RBI

The Reserve Bank said there was 11.2 per cent surge in the number of complaints received by Banking Ombudsmen in 2014-15. The majority of complaints emanated from banks' failure to meet commitments or non observance of fair practices code. The apex bank yesterday in the Annual Report of the...

RBI allows foreign investors to buy defaulted bonds

The Reserve Bank today allowed foreign investors to buy bonds that are either fully or partially under default in repayment and raised the maturity period of such NCDs/bonds to three years and more. As per the earlier rules, investments by Foreign Portfolio Investors (FPI) in NCDs/bonds were require...

Rs slumps 25 paise to over 2 month low against dollar? Sensex gains 183 pts

At the foreign exchange market, the rupee slumped 25 paise, to an over two month low of 66.57 against the dollar. The rupee fell on month-end dollar demand from banks and importers, foreign capital outflows, and a stronger dollar overseas. But at the stock markets, the Sensex at the Bombay Stock Exc...

Govt announces indirect tax sops for shipbuilding industry

The Government has decided to provide further indirect tax incentives for domestic shipbuilding industry. According to the notification issued by the Ministry of Finance, the exemption has been provided from customs and central excise duties on all raw material and parts for use in manufacture of sh...

Government announces indirect tax sops for shipbuilding industry

The Government has decided to provide further indirect tax incentives for domestic shipbuilding industry. According to the notification issued by the Ministry of Finance, the exemption has been provided from customs and central excise duties on all raw material and parts for use in manufacture of sh...

BCCI seeks government clearance on Pakistan series

NFOs hit a speed bump, Apr-Sept sees only 340 offerings

New fund offers have slowed down, as fund houses have launched only 340 new schemes in the April to September 2015 period. In comparison, mutual funds had brought out 1,059 NFOs during the 2014-15 fiscal. This is partly due to market regulator, SEBI's direction to rationalise and consolidat...

RBI defers issue date of Sovereign Gold Bond to Nov 30

Govt ready to discuss GST bill; Cong's suggestions were not in larger interest of GST structure, says Jaitley

Union Finance Minister Arun Jaitley has said Government is willing to reach out to the Congress-led opposition parties on the Goods and Services Tax (GST) Bill. Speaking at annual meet of an industry chamber in New Delhi yesterday, Mr. Jaitley, emphasised that some of the suggestions made by the Con...

NITI Aayog to engage in dialogue with China's think tank DRC

A team led by NITI Aayog vice-chairman Arvind Panagariya will engage in a dialogue with China's Development Research Centre (DRC). The two-day China-India Development Roundtable 2015 will be held in Beijing. It will be the first dialogue between NITI Aayog and the DRC after the body was con...