RBI issues guidelines for tokenisation of card transactions

A customer would not have to pay any charges for availing this service, it said.

Economy News

Undisclosed assets worth Rs 6,000 crore detected under foreign black money law

In this compliance window, which closed on September 30, 2015, 648 declarations involving undisclosed foreign assets worth over Rs 4,100 crore were made.

Economy News

Not considering any proposal to give more powers to RBI, says Government

The minister further said improvement in regulatory functioning being an ongoing process, the government engages with stakeholders, including the RBI, and discusses issues as they evolve.

RBI, more powers to RBI, reserve bank of india, Rajya Sabha, Shiv Pratap Shukla, public sector banks, economy news

Trade talks with China going ‘very well’, says US president Donald Trump

Trade in services with China (exports and imports) totalled an estimated USD 75.0 billion in 2017.

Economy News

GST, excise, service tax evasion of Rs 48,555 crore detected during April-December

In fiscal 2016-17, 10,212 cases of central excise and service tax evasion were detected involving an amount of Rs 23,618.52 crore.

Economy News

Know your budget: What it is, who makes it, where money comes from, where it goes — all in a nutshell

It is less than a month left before Narendra Modi-led government presents the last Budget of its term -- for the financial year 2019-2020.

union-budget-2019-20-you should know these budget terms News

Who is Gita Gopinath? First woman ever to join IMF as chief economist

India-born Gita Gopinath has joined International Monetary Fund (IMF) as its chief economist, becoming the first woman globally to occupy the post.

Economy News

Gita Gopinath joins IMF as its first female chief economist

Mysore-born Gita Gopinath has joined International Monetary Fund as its chief economist, becoming the first woman to occupy the top IMF post.

Economy News

Boost to fisc: RBI may transfer Rs 30,000 crore interim dividend to government

The transfer could take place before the RBI’s Economic Capital Framework panel submits its recommendation

RBI, GDP, public sector banks, Economic Capital Framework, Subhash Chandra Garg, Shaktikanta Das, urjit patel News

GDP grows 7.2 per cent in FY 19, a three-year high

The economic growth will scale a three-year peak of 7.2% in the current fiscal, against 6.7% a year before, as a recovery in the investment cycle is expected to soften the blow of a slowdown in privat

GDP, economic growth, GDP growth, Reserve Bank of India, oil prices News

Government to come out with sops for nomination-era oil and gas fields soon

To raise the production of hydrocarbons, the government is planning to provide fiscal incentives for fields from the nomination era. Difficult fields from the nomination era will be given additional i

gas fields, OALP, Dharmendra Pradhan, HELP, ONGC, Oil India,  News

GST rules: No e-way bill if returns not filed for two months

In a bid to force non-compliant businesses to file returns regularly, the finance ministry has barred e-way bill generation while transporting consignment if the supplier or recipient of the cargo has

Economy News

Bad news for Modi government ahead of Budget 2019: Direct tax growth lower than estimates in April- December

The net (post-refunds) direct tax collection for April-December period this fiscal was Rs 7.43 lakh crore, up 13.6% from the year-ago period.

Direct tax growth, CBDT,  GST collections, IDS, Sushil Chandra  News

Power sector employees go on two-day strike from Tuesday

Public sector power utility employees across the country, including engineers, will start a two-day nationwide strike on January 8 to voice their demands and highlight alleged privatisation attempts.

Economy News

High demand, rising tariff surge gencos’ revenue by 7 pct

The rise in power demand, coupled with state-electricity regulators revising power tariffs, is seen to have raised the revenue earned by power generating companies (gencos) in Q3, FY19.

Economy News

7.2% GDP growth rate very healthy, says Economic Affairs Secretary Subhash Chandra Garg

GDP grows by 7.2% compared to 6.7% in 2017-18. India remains fastest growing major economy globally.

Economy News

CSO pegs India’s GDP to grow at 7.2% in FY19

India’s GDP is expected to grow at 7.2 per cent in FY19 as against 6.7 per cent on-year, Central Statistics Office data showed.

Economy News

Shaktikanta Das on liquidity: RBI to take steps if liquidity shortage arises, but won’t allow ‘loose’ money

Reserve Bank of India (RBI) Governor Shaktikanta Das on Monday said that necessary steps would be taken if liquidity shortage arises in the economy, even as liquidity needs are largely met at present.

Economy News

Direct tax collections surge 14% on-year in April-December period; key figures in a nutshell

Gross direct tax collections were at Rs 8.74 lakh crore, up by 14.1% on year, while net direct tax collections is up 13.6% to Rs 7.43 lkah crore in the April-December period.

tax changes in 2018, income tax, tax benefits, taxable salary, changes in income tax act, Transport Allowance, conveyance allowance, TDS, CTC, Medical Reimbursement, Standard Deduction, employee's provident fund, EPF, government's contribution to EPF, tax changes, News

1 crore jobs lost in 2018: Unemployment rate hits 27-month high in December, says CMIE; key things to know

The unemployment rate in December 2018 rose to 7.38% from 6.62% in November 2018 and 4.78% in December 2017, highest since September 2016 when it stood at a high of 8.46%.

Economy News

Taxing times: Urban bodies may be allowed to raise taxes to meet Rs 40 lakh cr infra needs

According to official sources, these urban bodies may also be nudged to take steps to increase their own revenue by tapping other sources like trade licences, taxes on entertainment, mobile towers, so

Urban bodies finances, NITI Aayog, municipal bond market, Smart City Mission, gst, Finance Commissions News

Crude shocker can be rude shocks for economy: RBI economists

A sudden surge in crude prices can upset the nation's key macro-stability parameters, as it can sharply spike the current account deficit (CAD), inflation and the fiscal numbers, whittling the benefit

Economy News

GST ministerial panel favours Kerala levying 1% cess for 2 years

The ministerial panel under Bihar Deputy Chief Minister Sushil Modi Sunday approved levy of 1 per cent 'calamity cess' by Kerala for a period of two years to fund rehabilitation work in the state hit

Economy News

Government to launch delayed second round of oil block auction

India will launch the second auction of 14 blocks on Monday for prospecting of oil and gas in an attempt to raise domestic output to cut imports.

Economy News

Nepal writes to RBI to declare banned new Indian currency notes legal

The Nepal Rastra Bank (NRB) has written a letter on Friday to the Reserve Bank of India (RBI), asking it to make Indian bank bills Rs 200, Rs 500 and Rs 2,000 legal tender in Nepal.

RBI, Indian currency, Indian currency notes, Nepal Rastra Bank, legal tender, Foreign Exchange Management Act, Nepal, economy news

Aadhaar is a game changer, can fund 3 schemes equivalent of Ayushman Bharat: Arun Jaitley

Jaitley in a Facebook post said that Aadhaar-based delivery of subsidies helped save Rs 90,000 crore in the last few years till March 2018

gst slabs, arun jaitley, goods and services tax, gst council meet, gst rate, gst council meeting decision, sushil kumar modi, gst council meeting highlights, gst council meeting updates News

Corporate Affairs Ministry to collect KYC details of companies, CAs

In efforts to weed out unscrupulous elements, the Corporate Affairs Ministry plans to collect KYC details of companies, chartered accountants, cost accountants and company secretaries.

Economy News
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