The Department of Financial Services (DFS) had asked the state-owned banks to examine their collective 216 overseas operations to enhance cost-efficiencies.

With around 93 per cent of the registered taxpayers set to benefit from the GST Council's decision to allow quarterly return filing for businesses with turnover of up to Rs 5 crore, India Inc not only foresees increased compliance but also improved ease of doing business.

Apart from ratonalising tax rates under the Goods and Services Tax, the GST Counil also approved simpler tax GST return filing and two simplified forms - Sugam and Sahaj - for B2C and B2B traders.

In its last meeting, the Council had approved the basic principles of GST return design and directed the law committee to finalise the return formats and changes in law.

In its 28th meeting, the GST Council rationalised tax rates on consumer electronics among other items, while exempting sanitary napkins and small handicraft items from the ambit of the unified indirect tax regime.

The government has proposed as many as 46 amendments to the GST law - Central GST, State GST, Integrated GST and Compensation of Sates Act.

Reliance Nippon AMC recently got listed, while HDFC AMC would be entering the market next week. Let's look at how the HDFC AMC will be valued in the market.

In a letter to the chief executives of banks, the finance ministry said that the banks should start providing NFC-enabled credit and debit cards as it is the next generation of innovation in plastic money.

New-Delhi based online lending platform StashFin has partnered with non-banking finanace company DMI Finance to raise Rs.30 crore for lending through their platform.

The verdict raises an important question - should failure to fill truck's details in the e-way bill invite such a harsh punishment?

The CBI was conducting probe as to how Chidambaram, who was the finance minister in 2006, granted Foreign Investment Promotion Board (FIPB) approval to a foreign firm when only Cabinet Committee on Economic Affairs (CCEA) was empowered to do it.

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

The FRDI Bill, introduced in the Lok Sabha last August, had drawn protests from the Opposition, the bank unions and the public alike over its 'bail-in' clause, which was feared as harming the interest of depositors.

The bill also proposes setting up of competent authorities by state governments to ensure repayment of deposits in the event of default by a deposit taking establishment.

The move comes after liquor baron Vijay Mallya, PNB scam accused diamantaire Nirav Modi and Mehul Choksi gave a slip to the authorities.

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.

The market recovered in trade today as oil, metal and PSU stocks rallied after a sharp drop in global crude oil prices. While the Sensex closed 196 points higher at 36,519,  the Nifty rose 71 points to 11,008 level Sentiment received a boost after global crude oil prices fell over 4 per cent owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.Besides, reports that the finance ministry is likely to infuse about Rs 10,000 crore within a few days in some state-owned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet regulatory capital requirement too accelerated the buying pace, they added.State-run lender SBI emerged as top gainer on Sensex rising 2.98 per cent, followed by Sun Pharma 2.97 per cent.Gains were wide-spread as mid-cap and small-cap indices firmed up by 2.14 per cent and 1.12 per cent respectively as retailers accumulated selective stocks at prevailing attractive levels.Shares of state-owned HPCL, Indian Oil Corporation, BPCL and ONGC rose up to 6.31 per cent on fall in global crude prices. Globally, Brent crude dipped below the $72-mark, to quote at $71.67 a barrel, while WTI slipped to $66.89 a barrel.Aviation stocks such as InterGlobe Aviation and Spicejet climbed up to 2.02 per cent as declining oil prices are beneficial for this sector which would reduce fuel bill burden.Sectorally, BSE PSU rose the most by 2.32 per cent followed by oil & gas 2.19 per cent and metal 1.91 per cent among others.

Sentiment got a boost after global crude oil prices dropped by over 4 per cent yesterday owing to oversupply fears, helping the rupee to strengthen against the dollar, brokers said.

The IPO will open for subscription of anchor investors on Tuesday, July 24, 2018. The minimum bid lot for the IPO has been fixed at 13 equity shares and applications may be made in multiples of 13 equity shares thereafter.

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.