Over Rs 45,622 crore of undisclosed income has been unearthed by I-T department searches on nearly 2,534 groups of persons in the last three financial years and the current one (up to January 2017). “During
A Parliamentary Panel has decided to summon Reserve Bank of India Governor Urjit Patel again to ascertain how much of the junked currency has been deposited in banks post note ban. The meeting of the
Led by spurt in smartphone penetration, improved logistics infrastructure, convenient payment gateways, and the evolved online shoppers, the domestic online fashion market is estimated to reach $12-$14 bn level by 2020, according to a new
The proposals have been moved by the government in the form of amendments to the Finance Bill 2017
Chief statistician TCA Anant has attributed the high level of discrepancies in the second advance estimate of growth to a lag in data availability and stressed that it will not have any bearing on overall GDP.
Vijaywada-based airline Air Costa which has been troubled by financial crisis has seen an exodus of employees, including 40 pilots, in the last few weeks over non-payment of salaries. The airline, which has cancelled bookings
Central government today decided to infuse fresh capital totalling Rs 8,586 crore into 10 weak banks subject to commitment to quarterly milestones by bank boards, management, employees and unions, said a top leader of All
The government and the Reserve Bank of India are inching forward to conclude a number of changes in the rules to cut-down the proportion of bad loans in the banking sector. This move is a prerequisite to kick-start the investment cycle and push the g
As Reliance Industries' Jio telecom unit to end an almost seven month spree of free calls and will make its services paid from April 1, 2017, a research conducted by brokerage firm Bernstein showed that
The Reserve Bank (RBI) has been authorized to conduct field trials of plastic notes of Rs 10 that have a longer life span, the government said today. In a written reply in the Lok Sabha,
The loan totalling over Rs 8,000 crore was given to liquor baron Vijay Mallya when the UPA government was in power, but the action against him for defaults was taken by the Modi government, Parliament
Faced with the onslaught of competitors, particularly new telecom entrant Reliance Jio, state-run telecom firm Bharat Sanchar Nigam Limited (BSNL) today launched a new plan that offers 2 GB of 3G data per day and
The retail inflation rose to 4-month high of 3.65 per cent in February from 3.17 per cent during the previous month.
In a list of most number of frauds witnessed during April-December period of 2016, the ICICI Bank topped the list of such banks and state-owned SBI taking the second spot, RBI data said. During the
India's factory output post-demonetisation rose by 2.7 per cent in January, official data showed on Friday. The factory output, as per the Index of Industrial Production (IIP), had inched lower by (-)0.10 per cent
Post-demonetisation, the RBI on Friday warned of a possible spike in inflation and stressed the need to make digital payments "safe and secure", even as it felt that the adverse and transient impact on the
The world’s largest car producer Volkswagen has pleaded guilty for cheating US government by using software to evade emission rules in nearly 600,000 diesel vehicles. The German automaker is expected to plead guilty to
Union Finance Minister Arun Jaitley on Friday said that the Reserve Bank of India (RBI) has infused 12 lakh new currency notes in to the market. The RBI has informed that till February 24, a
This Holi is special for many reasons. You may like to believe that you would follow the same old routine of dousing yourself in colours and spreading the festive spirit around with your near and
Justifying its move for levying penalty on non-maintenance of minimum balance in accounts, the State Bank of India (SBI) on Wednesday said that the bank needs to impose some charges to balance the "burden" of
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