FE Bureau

CBDT says officers to meet assessees in second half of May to clear pendency

In a letter to zonal heads of its field formations, the CBDT has directed assessing officers to meet applicants and counsels who seek explanation for their cases.

Economy News

IBBI wants CoC to arrange liquidation expenses upfront

The proposal is based on suggestions that the cost of liquidation may be borne by financial creditors upfront and the same may be recovered from sale of assets.

Industry News

Kerala schools to save Rs 3,000 crore by using Linux OS

Schools in Kerala are expected to save Rs 3,000 crore as they have chosen the Linux-OpenSource (OS) operating system for computers being made available for teaching under a state-wide project.

Industry News

Essar Steel bid: StanChart questions CoC role in funds distribution

Contends preferred bidder ArcelorMittal was, in contrary to undertaking given to the SC, actually making Rs 39,500-crore upfront payment and not Rs 42,000 crore.

Industry News

Jet Airways CEO tells govt: No clarity on salaries till resolution outcome

Vinay Dube, CEO of the grounded carrier, Jet Airways, on Monday told the ministry of labour and employment officials that there can be no clarity on the issue of payment of salaries to the employees till the outcome of the ba

Industry News

Galaxy S10 helps Samsung overtake Apple for premium segment crown

Korean electronics maker Samsung surpassed Apple to take over India’s premium smartphone segment, accounting for more than one-third of the market.

Industry News

Rupee crashses to over 2-month low of Rs 70.53

The rupee on Monday closed at a two-month low of Rs 70.52 against the US dollar, a fall of 61 paise, or 0.88% over the previous close of Rs 69.71 on Friday.

Markets News

Muthoot Finance March quarter standalone profit at Rs 512 crore

NBFC Muthoot Finance on Monday announced a flat growth in standalone net profit for the three months to March at Rs 511.5 crore.

Banking & Finance News

IDFC First Bank reports Rs 218-crore net loss

IDFC First Bank on Friday reported a net loss of Rs 218 crore for the quarter ended March 2019, owing to higher provisions.

Banking & Finance News

United Bank back in black after 7 quarters of losses

Kolkata-headquartered United Bank of India (UBI) registered a net profit of Rs 95.18 crore for the quarter ended March 31, 2019 on the back of net interest income that increased nearly 25% over the year.

Banking & Finance News

ESAF Small Finance Bank net profit soars to Rs 90.28 crore

Kerala-based ESAF Small Finance Bank on Monday said that it has achieved a 234% year-on-year increase in net profit for FY19 at Rs 90.28 crore.

Banking & Finance News

RBI reserves: Jalan panel to submit report in June

A high-level panel, chaired by former governor of Reserve Bank of India (RBI) Bimal Jalan to determine the appropriate capital reserves with the central bank, will submit its report in June, a source said on Monday.

Banking & Finance News

USDA cuts cotton estimates for India by 20 lakh bales

The United States Department of Agriculture (USDA), which had estimated the Indian cotton production estimate for the 2018-19 crop year at 345 lakh bales (of 170 kg each), have now reduced their latest estimate by 20 lakh bal

Commodities News

CBIC refutes reports on TMC leader Abhishek Banerjee’s wife

CBIC clarified that local police officials entered the restricted customs area demanding immediate release of the two ladies (accompanying Naroola) without any checking, thereby obstructing discharge of statutory functions by

India News

Gathering storms: India Inc in deep trouble as sales slow, profits fall

The best news so far has been the fairly good growth in order inflows at L&T which rose 14% y-o-y in Q4.

Industry News

UPES starts School of Health Sciences

Dehradun-based university UPES has started the School of Health Sciences.

Education News

Ray of hope: Etihad Airways submits binding bid for Jet Airways

Says it cannot be sole investor, will need a majority investor as a partner.

Industry News

MCA database row: Missing units small and few, can’t affect growth count, says govt

The finance ministry on Friday sought to underplay GDP growth overestimates due to a “black hole” in the MCA database used for the computation of national income.

Economy News

Tata Steel-Thyssenkrupp call off deal over European Commission opposition

Had the deal been cleared, it would have been the largest European steel deal since 2006 when Arcelor was taken over by industrialist Lakshmi Mittal.

Industry News

Ayodhya dispute: SC extends time till August 15 to complete mediation process

The Supreme Court on Friday gave further time till August 15 to the special mediation panel to come with an amicable solution in the politically sensitive Ram Janmabhoomi-Babri Masjid land dispute case.

India News

L&T reports 8 per cent rise in consolidated net profit

The revenue growth was primarily led by infra, hydrocarbon, realty and services businesses, L&T said.

Industry News

PepsiCo withdraws cases against Gujarat potato growers

On Friday, after having sought and obtained an early hearing in its cases against four potato potato growers in the Commercial Court of Ahmedabad and five farmers in district court of Modasa, the company decided to withdraw t

Industry News

LeapFrog announces emerging market fund of $700 million

LeapFrog Investments announced on Friday its emerging markets fund has surged past its $600 million target to reach $700 million.

Industry News

Netflix, Amazon Prime, Hotstar to be regulated? SC seeks Centre’s response

The Supreme Court on Friday sought a response from the Centre on a plea seeking to regulate the content featured on online media streaming platforms such as Netflix, Amazon Prime and Hotstar.

Industry News

PVR reports 84.43 per cent rise in Q4 consolidated net

Ajay Bijli, chairman and managing director, PVR, said that the year saw one of the best box office performances with movies across genres attracting customers to the cinema.

Industry News

Eicher Motors reports 16 per cent fall in profit to Rs 545 crore in Q4

Analysts said pressure on margins may continue, given that demand is weak and because the Royal Enfield bikes are expensive and costly to maintain.

Industry News

Explained: What slowed down India’s economic growth

The rising rural distress has led to slowdown in private consumption as households have gradually reduced consumption due to insufficient income growth.

Opinion News
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