RBI outlines broad plans on $150 billion bank bad loan resolution
The Reserve Bank of India (RBI) outlined the broad contours of a plan to resolve the $150 billion bad debt problem plaguing the country’s banks Mumbai: The Reserve Bank of India (RBI) outlined on Monday the broad contours of a plan to resolve the $150 billion bad debt problem plaguing the... read more »
GST: Govt dictating prices goes against free-market spirit; will anti-profi...
In an interview on Monday, revenue secretary, Hasmukh Adhia, gave out an explicit warning to companies planning to increase prices on products ahead of the launch of Goods and Services Tax (GST) on 1 July. Adhia, in his not-so-indirect threat, openly asked companies to hold back rate increases... read more »
Heavy Bikes, Luxury Yachts, Private Jets to Attract 31 Percent GST PTI
Srinagar: Motorcycles of more than 350 cc engine capacity will attract a total of 31 percent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts. According to the rate structure finalised by the GST Council, all cars, buses, trucks and motorcycles including... read more »
Strong U.S. job growth, rising wages set stage for Fed rate hike
WASHINGTON (Reuters) – U.S. employers hired workers at a robust pace in February, beating expectations, and wages grinded higher, which could give the Federal Reserve the green light to raise interest rates next week despite slowing economic growth. ... read more »
More from Economy
India’s Avenue Supermarts IPO oversubscribed 106 times
MUMBAI (Reuters) – The last day of bidding for an initial public offering (IPO) by India’s Avenue Supermarts Ltd saw investors clamouring for the shares, tempted by the... read more »
India’s industrial output up 2.7 percent in January
NEW DELHI (Reuters) – India’s industrial output rose 2.7 percent in January from a year earlier, government data showed on Friday. ... read more »
Volkswagen, Tata Motors plan to cooperate in India
NEW DELHI/FRANKFURT (Reuters) – German carmaker Volkswagen said on Friday it had signed a memorandum of understanding to explore a partnership with Tata Motors to jointly develop auto... read more »
Doha Bank looking at setting up subsidiary in India
Doha Bank, one of the largest commercial banks of Qatar, is looking at the possibility of setting up a subsidiary in India, an top official of the bank today said. “Our long-term view is... read more »
BRICS bank to start lending in local currency by April
The New Development Bank (NDB), set up by five BRICS nations including India, will start lending in local currency by April next year and member countries will primarily be the focus of credit... read more »
