Govt withdraws excise duty concessions to Auto industry

The government has withdrawn the excise duty concessions to the Auto industry. Sources said that Finance Ministry has decided not to extend the concessions further. The concessions were given by the UPA government in the interim Budget in February, which were later extended by the NDA government til...

Core sector growth rises to five-month high of 6.7% in Nov

Growth of the country's eight core sector industries rose to a five-month high of 6.7 per cent in November this year, on the back of better output in coal, refinery products, electricity and cement. The eight core sector industries had grown by 3.2 per cent in November last year, and 6.3 pe...

TRAI recommends 22% lower base price for 3G spectrum auction

Telecom Regulatory Authority of India, TRAI today recommended a base price of 2,720 crore rupees per mega hertz, Mhz for pan India 3G spectrum. The base price is about 22 per cent lower than the previous auction which would provide relief to mobile operators. Government had auctioned 3G spectrum at ...

Core sector registers 6.7% growth in Nov

Growth of the country's eight core sector industries rose to a five-month high of 6.7 per cent in November this year, on the back of better output in coal, refinery products, electricity and cement. The eight core sector industries had grown by 3.2 per cent in November last year, and 6.3 pe...

Core sector registers 6.7% growth in Nov

Country's core growth sector has registered 6.7 per cent growth in November this year which is higher than the 3.2 per cent growth in same month last year. The combined index of eight core industries stood at 166.2 in November as compared to 155.7 during the same month of last year. Accordi...

SEBI notifies rules on launch of new mutual fund schemes

Market regulator Sebi has notified new rules that allow launch of two new schemes in a year by mutual fund houses with net worth below 50 crore rupees. However, such permission would be considered on a case-to-case basis, depending on Asset Management Companies (AMCs) demonstrating that serious effo...

Govt splits Chairman & MD post, names chiefs for 4 PSU banks

Government has decided to separate the post of Chairman and Managing Director and Chief Executive Officer, CEO in public sector banks. A Finance Ministry statement said that now the Chairman in public sector banks other than State Bank of India will be a part- time board member who would preside ove...

Mutual funds pump Rs 23,500 cr into stocks in 2014 as market rallies

Mutual funds pumped in more than 23 thousand five hundred crore rupees in domestic equities in 2014 mainly on account of rally in stock markets. The data released by market regulator SEBI is in sharp contrast to net withdrawals of over 21 thousand crore last year.Industry experts attributed the infl...

Centre working on removing unnecessary rules to improve ease of doing business

Commerce and Industry Minister Nirmala Sitharaman has said that the government is in the process of weeding out unnecessary and unwanted rules and regulations as part of its efforts to improve ease of doing business in the country. Talking to reporters in Coimbatore yesterday, she said the rules and...

SEBI norms for reclassifying promoter as public shareholders