New Delhi: The Reserve Bank of India (RBI) has directed banks not to charge savings account holders for NEFT with effect from January 2020. The National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the RBI, to transfer funds from one bank account to another. Money transfer can be made by an […]
Category: Business
Moody’s warns India could be headed for debt trap and recessionary phase
New Delhi: Moody’s Investors Service has downgraded its outlook on India’s ratings to “negative” from “stable”, attributing increasing risks that the country’s economic growth will remain lower than in the past. Government responded to the downgrading saying India continues to be among the fastest growing major economies in the world, India’s relative standing remains unaffected. The […]
Rs 2,000 notes can be demonetized without disruption: Ex-department of economic affairs Secretary
New Delhi: Endorsing the estimates of Rs 2,000 notes shrinking in circulation, former department of economic affairs (DEA) secretary S.C. Garg has said that the high-value notes can be demonetised without causing any disruption. He claimed that the Rs 2,000 notes may not have been in circulation much now as they have been hoarded by people. […]
ICICI Bank’s Q2 net profit down 28% to Rs 655 cr
Mumbai: ICICI Bank has reported a 27.94 per cent decline in standalone net profit for the second quarter of 2019-20. The bank’s net profit in Q2 declined to Rs 655 crore from Rs 909 crore in the year-ago quarter. Excluding the impact of one-time additional charge due to re-measurement of accumulated deferred tax, profit after […]
Slowdown dims Dhanteras cheer, gold sales dip
New Delhi: The economic slowdown has dimmed the festive mood with jewellers reporting lower sales on Dhanteras day, the most auspicious day ahead of Diwali. Delhi-based traders’ body Confederation of All India Traders (CAIT) said that business of both gold and silver has registered sharp decline of 35-40 per cent on Friday. It termed the […]
Cabinet nod to BSNL-MTNL merger, VRS, 4G spectrum allocation
New Delhi: The Union Cabinet on Wednesday approved the much-awaited 4G spectrum allocation to ailing telecom PSUS — BSNL and MTNL — and gave in-principle approval to their merger while allowing them to raise sovereign bonds of Rs 15,000 crore for their revival. The allocation of 4G spectrum to them would be done at 2016 […]
PMC Bank despositors’ woes mount as RBI Governor abroad
Mumbai: The aggrieved depositors of the scam-hit Punjab & Maharashtra Cooperative Bank Ltd found no solution at a meeting with Reserve Bank of India (RBI) officials as the apex bank Governor Shaktikanta Das is currently touring abroad, representatives said here on Tuesday. A delegation of the protesting depositors, which was called by the RBI for […]
J&K, Ladakh govt employees to get 7th pay panel benefits
Srinagar: In a major relief after the abrogation of the Article 370 of the Constitution on August 6, now the government employees of the newly created Union Territories of Jammu and Kashmir as well as Ladakh will get all the Central Pay Commission benefits from October 31. Home Minister Amit Shah has approved the proposal. […]
DGCA lowers 2019 traffic growth forecast
New Delhi/Mumbai: The countrys civil aviation regulator has slashed the domestic air passenger growth forecast to 4-6 per cent from an earlier projection of 7-9 per cent. The new projection comes after September’s passenger traffic data showed a dismal growth of 1.18 per cent over the corresponding month of last year. “The numbers are disappointing. […]
Goa spent Rs 3.26 cr on day-long GST Council meet: RTI
Panaji: The Goa government coughed up Rs 3.26 crore for hosting a day-long meeting of the 37th Goods and Services Tax Council chaired by Union Finance Minister Nirmala Sitharaman and held last month in a star resort, RTI data showed. Information obtained through the Right to Information Act by city lawyer Aires Rodrigues from the Commissioner […]