Business

September 30, 2015 6:49 PM

Not banned export of Basmati rice, clarifies Centre

The government today clarified that it has not banned the export of Basmati rice and it is not even considering any proposal to ban it. The clarification came in the wake of rumours of a ban on the export of Basmati rice. Ministry for Commerce and Industry in a statement said, there is no change in ...

September 30, 2015 4:47 PM

15G, 15H forms: CBDT simplifies format, procedure for self declaration

The Central Board of Direct Taxes, CBDT has simplified the format and procedure for self declaration by individuals in 15G and 15H forms. These forms are filed by persons whose incomes are below the taxable threshold to seek exemption from TDS on interest income. An official release said, under the ...

September 30, 2015 11:16 AM

India up 16 places to 55th on global competitiveness index

In a big jump, India has moved up 16 positions to rank 55th on a global index of the world's most competitive economies, where Switzerland remains on top. The World Economic Forum (WEF) said in its latest Global Competitiveness Report that the jump in India's position underlines th...

September 30, 2015 8:14 AM

IMF warns of market breakdown potential due to low rates

International Monetary Fund says that financial markets face a higher risk of liquidity squeezes in a sell-off due to the effects of the long period of low interest rates. In a semi-annual report on global financial stability, the IMF economist Gaston Gelos said that markets for trading equities, bo...

September 29, 2015 8:41 PM

India Inc says RBI rate cut will drive growth

Industry bodies have welcomed rate cut by RBI. FICCI President Dr Jyotsna Suri said the industry has been strongly advocating need for a deeper rate cut and is delighted by the decision. She said the FICCI is looking forward to a faster transmission by banks as it would give a boost to the much need...

September 29, 2015 6:44 PM

Sensex responds positively to RBI Rate Cut

Following the Reserve Bank's rate cut, the Sensex at the Bombay Stock Exchange recovered smartly from initial big losses, and had gained a good 304 points, to 25,921 in afternoon trade, a short while ago. Earlier in the morning, ahead of the RBI's monetary policy announcement, the ...

September 29, 2015 6:37 PM

Asian markets hi by slump in commodity stocks

Key Asian markets slumped, today, as shares in commodity trading firms took another tumble. China's Shanghai Composite index slipped 2 percent, led lower by commodity and energy shares. Japan's Nikkei 225 index plummeted 4.1 percent; and Hong Kong's Heng Seng plunged 3 per...

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