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Prosenjit Datta
New Delhi, July 19, 2018
The true extent of the NPA problem only started becoming clear once then RBI governor Raghuram Rajan initiated the Asset Quality Review (AQR) in 2015


BusinessToday.In
July 18, 2018
In the current Session, 25 bills - out of total 60 bills pending in the Parliament - are listed for consideration and passage, and three for withdrawal during the session.


BusinessToday.In
New Delhi, July 17, 2018
On the simplification of the GST law, the ICAI said it should be made less complex so everyone -- from a layman or an unorganised taxpayer to big businesses -- can understand it without any help from a tax expert.


BusinessToday.In
New Delhi, July 13, 2018
Features like train search without login, easy-to-use web interface, alternative accommodation facility, etc, have been incorporated in the new IRCTC portal, whose final version was launched on June 13.


BusinessToday.In
New Delhi, July 9, 2018
The IRCTC manager would attend to the complaints even when the train is in motion and would report to the train captain at the railway station where the train originates.


BusinessToday.In
July 6, 2018
The Inter-Creditor Agreement (ICA) framework, which envisages effective communication among lenders and lays down some ground rules for multiple-banking arrangements and consortium lending.


BusinessToday.in
New Delhi, July 5, 2018
Arun Jaitley calls for amendments in graft law, says it's anarchic and hurts decision makingUnion Minister Arun Jaitley on Tuesday called for amendments in the Prevention of Corruption Act -- a graft law that the Minister described as anarchic and one of the most badly drafted pieces of legislations. His statement came weeks after the Pune police on June 21 arrested the entire top management of the state-run Bank of Maharashtra for a loan of Rs 94.5 crore to the scam-tainted developer DSK Group allegedly in violation of its lending rules. Coming down heavily on the Pune Police for the arrest, the Minister said that nobody should overlook the federal structure of the nation. Jaitley further said that if the country wants an effective decision making process, it needs to put this entire relationship between investigation, who to investigate, when to investigate, what constitutes a crime, really in its place.NCLT verdict in Tata-Mistry case to be pronounced on July 9The Mumbai bench of NCLT (National Company Law Tribunal) on Wednesday deferred its judgement on ousted Tata Sons chairman Cyrus Mistry's petitions against the Tata Group. The NCLT order in the Tata-Mistry case will now be pronounced on July 9 at 10:30 am. Ahead of the verdict, Mistry had filed fresh salvo at Tata Sons management. The former chairman questioned the rationale behind some actions like the free sale of its telecom arm to Airtel, and massive debt-driven acquisitions by Tata Steel. Mistry has sought accountability and information from the board of Tata Sons in which his family owns 18.34 per cent.MSP hike draws mixed reaction from agri-experts, farm bodies  Agri experts and farm bodies today said the hike in the minimum support price (MSP) of 2018-19 kharif crops would lead to inflation, widen fiscal deficit and hit badly the export of commodities like cotton, while others felt the raise in support price was insufficient. In absolute numbers, the paddy MSP hike by Rs 200/quintal to Rs 1,750 for this year is a record but not in percentage terms, said agriculture expert Ashok Gulati . Gulati cautioned that the sharp rise in cotton and rice MSP will hit exports badly and lead to increase in government procurement. Merkel warns Trump against trade war  German Chancellor Angela Merkel today warned US President Donald Trump against unleashing an all-out trade war after he threatened to impose steep tariffs on cars from the European Union. Merkel said both sides were effectively locked in a \"trade conflict\" since Trump's decision to slap punitive tariffs on steel and aluminium imports. \"It is worthwhile to prevent this conflict from becoming a real war,\" she said. Trump charged that Europe is \"possibly as bad as China\" on trade, as he reiterated that he is mulling import taxes of 20 percent on EU cars. The EU has slapped tariffs on iconic US products including bourbon, jeans and Harley-Davidson motorcycles, as a symbolic tit-for-tat response to the metals duties.FM to meet heads of banks today to discuss NPA resolution structure  Finance Minister Piyush Goyal will meet heads of banks today to discuss an inter-lender structure suggested under the 'Project Sashakat' that intends to fastrack resolution of stressed assets in the banking system. The meeting is likely to formalise the inter-creditor agreement structure as suggested in the five-pronged 'Project Sashakat', sources said. The meeting has been organised by Indian Banks Association (IBA) and inter creditor agreement would be the framework under which the consortium would take up NPA cases.SBI Card launches AI powered virtual assistant ELA  SBI Card, the country's second largest credit card issuer, today announced the launch of 'ELA' (Electronic Live Assistant), a virtual assistant for customer support and services. Driven by Artificial Intelligence and Machine Learning, ELA is designed to enhance customer experience by providing relevant and instant responses to customer queries, SBI Card said. Customers can communicate with ELA in conversational language, enabling easy interface along with prompt query resolution, SBI Card managing director Hardayal Prasad said. The virtual assistant is currently hosted on the SBI Card website and will soon be integrated on the mobile app as well.


Anand Adhikari
July 3, 2018
The BJP-led NDA Government has pulled a rabbit out of their hat by announcing a slew of initiatives aimed at avoiding the bankruptcy proceedings for banks as well as defaulting promoters.


BusinessToday.In
July 3, 2018
In early April, India's foreign exchange reserves had hit a life-time high of $424.864 billion, and was cited by Asian Development Bank's Chief Economist Yasuyuki Sawada as the reason why India did not need to worry much about currency fluctuations.


BusinessToday.In
July 3, 2018
The Central railway has extended routes of some local trains to clear extra rush from Ghatkopar station. Train services between Chhatrapati Shivaji Terminus and Bandra railway station are normal.


BusinessToday.In
July 3, 2018
The panel, which was set up to study the feasibility of an ARC/AMC for faster resolution of bad loans, has suggested a five-pronged strategy that includes -- SME resolution approach, bank-led resolution approach, AMC/AIF led resolution approach, NCLT/IBC approach, and asset-trading platform.


PTI
New Delhi, July 2, 2018
The committee favours banks and overseas investors funding for the bad bank. The proposed 'bad bank' should also appoint experts from outside to tackle the stressed assets issue, suggests the panel.


BusinessToday.In
July 2, 2018
The IRDAI entered the picture because under current norms, an insurance company cannot hold more than 15 per cent stake in a company.


BusinessToday.In
New Delhi, July 2, 2018
Indian economy set for a surge, to touch USD 5 trn by 2025: Prez  President Ram Nath Kovind today said the Indian economy is set for a surge with the GDP size expected to double to USD 5 trillion probably by 2025.He was speaking after launching the platinum jubilee celebrations of chartered accountants' apex body ICAI. \"Indian economy is set for a surge and in the next decade, probably even by 2025, India is expected to double the size of the GDP to USD 5 trillion,\" Kovind said. The President said that adherence to a fair taxation system is much more than merely providing revenue to the government which is part of the same social contract that underpins the Constitution.Walmart India gets half of biz via non-store sales  US retail major Walmart is now getting nearly half of its business through non-store or out-of-store sales channels, which include B2B e-commerce, associates' driven sales and call centres, a company official has said. While, the rest half of its business still comes through in-store walk-ins, where its members visit its stores and purchase.Besides, Walmart India is also going to open another fulfilment centre soon at Lucknow after opening its first such facility in Mumbai last year.FDI inflow growth rate dips to 5-year low in FY18Foreign direct investment (FDI) in India seems to be petering out. According to the latest data released by the Department of Industrial Policy and Promotion (DIPP), FDI inflows growth rate recorded a five-year low of 3 per cent at $44.85 billion in 2017-18. In contrast, foreign inflows had grown by 8 per cent in 2013-14, under the previous government, albeit after recording a negative growth of 38 per cent in 2012-13.The current government had managed to initially multiply the FDI inflow growth rate to 27 per cent in 2014-15 and 29 per cent in the following year, but it dived to just 8.67 per cent in 2016-17.CIOs looking at increasing spends on cyber security: EY  Companies across sectors may increase their spending on cyber security as a percentage of the overall IT budget as they look to comply with privacy laws and protect organisations against new emerging threats, says a report by consultancy firm EY. A survey conducted by EY found 42 per cent respondents saying they are \"willing to invest more than 10 per cent of their annual IT budget on cyber security\". The report highlighted that the \"onslaught\" of Industry 4.0 technologies such as artificial intelligence (AI), Internet of Things (IoT) and machine learning (ML) -- being considered and adopted -- are drastically increasing the attack-surface for companies.Honda Cars India posts 37.5 pc rise in domestic sales  Honda Cars India (HCIL) today reported a 37.5 per cent increase in its domestic sales to 17,602 units in June on account of strong sales of all new Amaze. The company had sold 12,804 units in the domestic market in June 2017, HCIL said in a statement. \"The recently launched All New Amaze which has been receiving an overwhelming customers' response sold a remarkable 9,103 units in June'18, strongly contributing to company's growth last month,\" HCIL said adding that HCIL has received over 26,000 bookings of the all new Amaze since its launch.GST rate cut possible as revenue to exceed Rs 13 lakh crore this fiscal: Piyush GoyalFinance Minister Piyush Goyal on Sunday said he expected GST collections to exceed Rs 13 lakh crore in the current financial year and this higher revenue would provide headroom to cut tax rates. The interim finance minister said, \"with more people coming under the tax net, and successful implementation of the e-way bill system, there will be scope for rationalisation of tax slabs.\"Under the four-tier Goods and Services Tax (GST), which was rolled out on July 1, 2017, taxes are levied in the brackets of 5 per cent, 12 per cent, 18 per cent and 28 per cent. On top of the highest tax bracket, a cess is levied on luxury goods such as big cars and sin goods such as sugary drinks and cigarettes


Mail Today Bureau
July 2, 2018
Under the four-tier Goods and Services Tax, taxes are levied in the brackets of 5 per cent, 12 per cent, 18 per cent and 28 per cent. On top of the highest tax bracket, a cess is levied on luxury goods such as big cars and sin goods such as sugary drinks and cigarettes.


BusinessToday.In
July 1, 2018
GST, which was dubbed as India's biggest economic reform, today completed the first year and the government is celebrating  the day by highlighting its achievements. Earlier today, Prime Minister Modi hailed the GST as a tool that has brought growth, simplicity and transparency.


BusinessToday.In
July 1, 2018
Piyush Goyal appealed to consumers to insist on bill for every purchase they make. He said it would help the government check evasion and reduce tax rate on each item by as much as 4-5 per cent.


Virendrasingh Ghunawat
July 1, 2018
Thousands of GST officials from CGST office have decided to stay away from the one year GST celebration across the country. It indicates though the BJP government is trying to make it a bigger celebration event, everything is not okay within the taxmen fraternity who alleges pressure from seniors to meet the targets.


Rahul Shrivastava
June 30, 2018
In 2016, funds stashed by Indians in Swiss banks had fallen by 45 per cent to Rs 4,500 crore. The drop was the highest since the Swiss banks shed their secrecy clauses that shielded depositors in 1987. The latest data shows that the money parked directly with the banks is now pegged at Rs 6,891 crore and another Rs 112 crore through fiduciaries.


BusinessToday.In
New Delhi, June 29, 2018
On November 10th, the GST Council had slashed tax rates on around 178 items, moving them from the top bracket to 18 per cent or lesser.


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