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Raghuram Rajan: The Reserve Bank on Tuesday cut the key interest rate by 0.25 per cent and introduced a host of measures to smoothen liquidity supply so that banks can lend to the productive sectors and indicated accommodative stance going ahead. Given weak private investment in the face of low capacity utilisation, a reduction in the policy rate by 0.25 per cent will help strengthen growth, RBI Governor Raghuram Rajan said in the first bi-monthly monetary policy review for the 2016-17 fiscal, which began on April 1. (Express photo)
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Narendra Modi: Giving a push to government's financial inclusion programme, Prime Minister Narendra Modi on Tuesday launched the Stand-up India scheme under which 1.25 lakh bank branches will provide loans up to Rs 1 crore to SC/ST and women entrepreneurs. At a function, which was organised to mark birth anniversary of dalit leader and former Deputy Prime Minister Babu Jagjivan Ram, Modi flagged off 5,100 e-rickshaws. (PTI)
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Pfizer: The US Treasury Department proposed new tax regulations late on Monday that threw a series of proposed mergers into question, including Pfizer Inc's $160 billion agreement to buy Allergan Plc, causing Allergan shares to fall sharply. Pfizer's deal to buy Dublin-based Allergan, the maker of Botox, aimed to create the world's largest drugmaker and was conceived under U.S. tax rules that allow the company to move its headquarters to Ireland and lower its tax rate. (Reuters)
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Nirmala Sitharaman: The government is taking a calibrated approach in opening up sectors like retail for foreign direct investments, as it’s careful in not putting at stake self-created jobs of a large number of people, commerce and industry minister Nirmala Sitharaman said on Tuesday. Asked why the government has put in a stringent condition announced in the Budget that 100% FDI will be allowed in the marketing of only those food products that are produced and manufactured in India, Sitharaman said: “We are clear that the FDI is welcome in sectors in which we need either technology or investments. But we are careful in allowing FDI in sectors where people are already self-employed and have made investments out of their family inheritance… For us to open up such sectors and then to put in peril jobs of self-employed individuals will also not be good.” (PTI)
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Hindustan Aeronautics Limited: Public sector undertaking Hindustan Aeronautics Limited (HAL) has recorded 5.8% growth in provisional turnover at Rs 16,524 crore for the financial year 2015-16. In 2014-15, its turnover stood at Rs 15,622 crore. The profit before tax went up marginally by 1.1% to Rs 3,210 crore for the year compared to Rs 3,173 crore in 2014-15, the company said in a statement.
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Arun Jaitley: The government will push for consolidation of the public sector banks once they are recapitalised and strengthened, Finance Minister Arun Jaitley said today. "We have now undertaken this exercise of recapitalisation of banks within the existing resources. I am trying to find additional resources for that purpose… strengthen the banks. Once they are strengthened, I am going for consolidation of some of the banks," he said at a event organised by IFC in New Delhi. (Reuters)
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Whatsapp: Messaging giant WhatsApp is rolling out end-to-end encryption, a move that will potentially protect texts and voice calls of its over one billion users from hackers and “regimes”. The announcement has come close on the heels of a legal battle between Apple and FBI over the US agency’s demand that the iPhone maker help unlock its mobile phones. Many Silicon Valley players had supported Apple citing that user data privacy needs to be respected. (AP)
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Twitter: Twitter users on Tuesday got one big reason to cheer! The social networking service has added a direct message button to tweets, hence making it easier to share them privately. The Message button will be available today on Twitter for iOS and Android. Users of the app on iOS and Android will need to update their app to avail this feature. “Now — in just a few taps — you can share unique Twitter content from your timeline right into your private conversation,” said Twitter.
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Tata Steel: Supporting colleagues at troubled British unit of Tata Steel Europe, workers at JLR on Tuesday warned Tata Group Chairman against a 'fire sale' of its UK steel business, saying "it wasn't the responsible thing to do". Representatives for thousands of car workers at Jaguar Land Rover (JLR) wrote to Mistry, demanding the conglomerate acts responsibly by selling Tata Steel UK as a whole entity and allowing time for a credible buyer to be found, Unite, Britain and Ireland's largest trade union which claims to have over 1.4 million members, said in a statement. (Reuters)
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Narendra Modi on defaulters: In a veiled dig at large corporate defaulters like Vijay Mallya, Prime Minister Narendra Modi today said while poor people are generous and honest some rich borrowers look for ways to flee after taking loans. Addressing a function to launch government's financial inclusion programme Stand Up India, he said under the Prime Minister's Jan Dhan Yojana poor people were encouraged to zero balance account but they deposited Rs 35,000 crore. (Reuters)
Income Tax Return Deadline Extension 2025 LIVE: ITR filing due date to be extended again? Nearly 3 crore returns yet to be filed, only 6 days left
