FM says amalgamation of banks won't lead to any job loss : Bulletin: Business Today
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FM says amalgamation of banks won't lead to any job loss

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September 2, 2019

Car sales crash 29% in August; all eyes on Sep 20 GST meet

Automobile sales in the country crashed again by nearly a third in August 2019 over last year marking the 10th straight month that sales have declined. India's largest carmaker Maruti Suzuki posted a steep 36 per cent decline in sales in August at 93,173 units compared to 145,895 units in the same month last year. The cumulative sales of the top 6 carmakers in the country that were declared on Sunday, showed a decline of over 29 per cent in August 2019 over 2018.

Bank mergers: FM Sitharaman says amalgamation won't lead to any job loss

Finance minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. She was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs. Sitharaman on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders.

Binny Bansal sells Flipkart shares worth $14 million to Tiger Global

Flipkart co-founder Binny Bansal has sold additional shares of the company worth $14 million to investor Tiger Global Management. The fresh sale comes after Bansal sold $76 million worth of shares earlier in June this year. The new deal could be a part of an accelerated share sale agreement that was signed at the time of Bansal's exit from the company in November last year.

Nirmala Sitharaman refuses to acknowledge economic slowdown; says 'no thoughts' on Manmohan Singh's remarks

Finance Minister Nirmala Sitharaman Sunday refused to acknowledge the growing concerns over the state of Indian economy's health. While addressing a media conference after interacting with tax officials in Chennai, Sitharaman skirted the questions on falling GDP numbers, job losses and the overall slowdown in the economy. She said that the government is holding consultations with a lot of sectors and industry bodies and that the concerning reforms are underway and have been announced from time to time.

I-T department creates new world record with 49 lakh online ITRs filed in a single day

The Income Tax department Sunday said that it has made history by realising a record 49 lakh 29 thousand Income Tax Return filings in a single day.The department also stated that around 1.4 crore ITRs were filed in the last five peak days of August.

GST collection dips below Rs 1 lakh crore to Rs 98,202 crore in August: Govt data

India's gross GST collections slipped below Rs 1 lakh crore to Rs 98,202 crore in August, according to official data released on Sunday. Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 lakh crore. The August 2019 mop-up was, however, 4.5 per cent higher than the Rs 93,960 crore collected in the same month last year.
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