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News highlights of the day: RBI Governor Urjit Patel appointed on BIS advisory board

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

  • Nov 16, 05:06 PM (IST)

  • Nov 16, 05:06 PM (IST)

  • Nov 16, 05:06 PM (IST)

  • Nov 16, 05:02 PM (IST)

    Centre readies a digital transaction push in GST regime, may offer 200bps cut on B2C transactions

    The government has prepared a proposal to offer a 200 basis points cut on the GST payable in all for business-to-consumer (B2C) transactions that take place digitally to push digital transactions under the GST regime.

    The proposal, which is yet to be deliberated upon by the GST Fitment Committee, offers a maximum discount of Rs 100 on any digital transaction of goods that are above the 3 percent GST tax slab, sources to CNBC-TV18.

    For instance, if a consumer buys any good under the 18 percent, then the consumer will have to pay only 16 percent GST or Rs 100, whichever is lower if the transaction is carried out digitally.

    As per the proposal, the cost for this discount cost will be borne by the state and the Centre.

  • Nov 16, 04:58 PM (IST)

    India Ranks 8th on Global Terror Index, Maoists the Deadliest Outfit

    India ranked eighth in the Global Terrorism Index (GTI) according to a report released by the Sydney-based Institute for Economics & Peace.

    The country witnessed an 18 percent rise in terrorism-related casualties in 2016.There has been a palpable dip in terror-related deaths in the last couple of years, the number of terror attacks have actually increased 16 percent over the last year. A total of 929 terror-related incidents were reported in the country as compared to 800 in 2015.
     

    Although 340 deaths from terrorism were recorded in 2016 alone, the figures were still the third-lowest since 2000. The GTI report is released annually 

  • Nov 16, 04:48 PM (IST)

    French President Macron faces first major internal challenge as 100 party members resign

    French President Macron faces first major internal challenge as 100 party members resign

    The party members were unhappy with the way things were being handled. They also believed there is a lack of freedom of opinion in the party

  • Nov 16, 04:44 PM (IST)

    Exporters can manually file GST refund claims: CBEC

    Exporters can manually file GST refund claims: CBEC

    Now exporters of services who paid IGST and those making zero rated supplies to SEZ units as well as those merchant exporters who want to claim refunds for input credit can approach their jurisdictional commissioner with their refund form.

  • Nov 16, 04:41 PM (IST)

  • Nov 16, 04:37 PM (IST)

  • Nov 16, 04:34 PM (IST)

  • Nov 16, 04:33 PM (IST)

    Paytm, ICICI Bank tie-up to offer short-term digital loans up to Rs 20,000 for 45 days

    Digital payment player Paytm has partnered with ICICI Bank, country’s largest private sector bank, to jointly launch ‘Paytm-ICICI Bank Postpaid’, offering interest-free short-term digital loans up to Rs 20,000 for a maximum of 45 days.

    Beyond 45 days, the bank will charge a penalty of about Rs 50 and an interest rate of 3 percent per month. This offer can be availed by common customers of Paytm and ICICI Bank and for now, will not be available to Paytm Payments bank or ICICI bank’s wallet Pocket’s customers and other bank or wallet customers as well.

  • Nov 15, 09:48 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.
     

  • Nov 15, 09:43 PM (IST)

    Padmavati: 6 held for vandalising in cinema hall sent to judicial custody till November 19

    Padmavati: 6 held for vandalising in cinema hall sent to judicial custody till November 19

    Six of the eight persons detained on Tuesday night in connection with the vandalising of a cinema hall here were arrested late last night while two of them were released after interrogation, police said.

  • Nov 15, 09:41 PM (IST)

    India, EU hold discussions on proposed free trade agreement
    Senior officials of India and European Union (EU) today held discussions on the long-stalled free trade pact and expressed willingness to address issues in a time-bound manner, the department of commerce said today.

    The chief negotiators of India and EU held discussions here on the proposed free trade agreement, officially dubbed as Bilateral Trade and Investment Agreement (BTIA), the department said in a series of tweets.

  • Nov 15, 09:38 PM (IST)

    Stubble burning: Punjab govt signs MoU with Chennai-based firm
    Looking for answers to the issue of stubble burning, the Punjab government today signed an MoU with a Chennai-based firm to set up 400 processing plants to convert crop residue into bio-energy.

    The plants will become operational before the next harvesting season and prevent a repeat of the environmental hazard triggered by stubble burning, a government spokesperson said.

  • Nov 15, 09:36 PM (IST)

    Indian retail market expected to reach $1 trillion by 2020
    The Indian retail market is expected to grow over 60 per cent to hit USD 1.1 trillion in the next three years, said a joint report by Assocham and MRRSIndia.com.

    This growth in retail market will be led by factors such as change in lifestyle and rising income middle class, which helped the FMCG industry to grow at a rapid speed over the past few years.

  • Nov 15, 09:20 PM (IST)

    REC to provide Rs 14,000 crore loan for 2,400 MW Patratu power plant
    Rural Electrification Corp (REC) will provide Rs 14,000 crore debt to set up 2,400 MW thermal power plant of power giant NTPC's arm Patratu Vidyut Utpadan Nigam Ltd (PVUNL) in Jharkhand.

    "The REC and PVUNL signed a loan agreement for establishing 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand," a statement by REC said.

  • Nov 15, 09:16 PM (IST)

    Fossil fuel investment spells 'unsustainable future': UN chief
    Continued investment in fossil fuel would deliver "an unsustainable future", UN chief Antonio Guterres warned today, saying time was running out to prevent calamitous climate change caused by atmosphere-fouling emissions.

    Sinking more money into coal, oil and gas does not make financial sense, and markets must be "re-oriented away from the counter-productive," he told UN climate envoys in Bonn.

  • Nov 15, 09:14 PM (IST)

    Hardik plea for exemption from appearance in court allowed
    Patidar quota agitation leader Hardik Patel today sought an exemption from personal appearance in a local court in a case of vandalism, and his plea was allowed.

    The 24-year-old quota protagonist was to appear before the Visnagar  sessions court in the district today in the 2015 case.

  • Nov 15, 09:12 PM (IST)

    Hindu Mahasabha sets up Godse 'temple', kicks up row
    The Hindu Mahasabha installed a bust of Mahatma Gandhi's assassin Nathuram Godse and consecrated it at its Gwalior office today, provoking demand by the Congress for booking the outfit for sedition.

    The BJP, however, said The Congress should not lay "sole claim" to Mahatma Gandhi's legacy and, if a law was violated by the Hindu Mahasabha, it would be dealt with accordingly.

  • Nov 15, 09:01 PM (IST)

    Navi Mumbai bank heist planned five months back: Police
    The burglars who dug a 25-feet tunnel to loot valuables and cash worth Rs 2.85 crore from a bank in Navi Mumbai seem to have planned the act five months ago and have executed it meticulously, an investigating officer said today.

    According to the officer, the quantum of the loot has been assessed at Rs 2.85 crore, which included 10 kg gold, 6 kg silver, some cash and other jewellery.

  • Nov 15, 08:58 PM (IST)

    Urjit Patel appointed on BIS advisory board
    RBI Governor Urjit Patel was today appointed to the Financial Stability Institute Advisory Board or the Bank of International Settlement (BIS), a global financial organisation owned by major central banks from across the world.

    The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems.

  • Nov 15, 08:56 PM (IST)

    No truth in allegations, will move apex court: Thomas Chandy
    A defiant Thomas Chandy, who resigned from the Pinarayi Vijayan cabinet today over land encroachment charges, said there was not an iota of truth in the allegations against him.

    The NCP leader said he would move the Supreme Court against the Kerala High Court's observations against him. The high court had dismissed handy's plea to quash an inquiry report that indicted him in connection with the land grab allegations.

  • Nov 15, 08:49 PM (IST)

    Bihar court orders FIR against Farooq Abdullah for comment on PoK
    A court in West Champaran district of Bihar has ordered that an FIR be lodged against National Conference (NC) chief Farooq Abdullah over his controversial remarks on Pakistan-occupied Kashmir (PoK).

    The order was passed by Chief Judicial Magistrate (CJM) Jayaram Prasad on Monday, on a complaint filed by a lawyer, Murad Ali.

  • Nov 15, 07:53 PM (IST)

    RCom says not making any payment to lenders for time being
    Reliance Communications said today that it is not making any payment to lenders or bond-holders for the time being as it is under 'standstill period'
    with invocation of strategic debt restructuring scheme and working on asset-monetisation.

  • Nov 15, 07:50 PM (IST)

    Delhi govt seeks derecognition of schools not following tobacco-free guidelines
    The Delhi government's health department has appealed to the CBSE Director and the education department to derecognise schools which are not following the tobacco-free school guidelines.

  • Nov 15, 07:46 PM (IST)

    The infrastructure players who stole the show

    The infrastructure players who stole the show

    Our analysis of results of infrastructure/construction companies largely brings out three key trends - improvement in execution that drove topline performance and resulted in benefits of operating leverage, lower financial leverage and finally a better order book visibility.

  • Nov 15, 07:45 PM (IST)

    Arvind Kejriwal, M L Khattar vow to tackle Delhi smog issue collectively

    Arvind Kejriwal, M L Khattar vow to tackle Delhi smog issue collectively

    Khattar also stated that the intercity buses would be made to run on Compressed Natural Gas (CNG). Of these, this would include a new fleet of 500 buses running on CNG in Gurgaon.

  • Nov 15, 07:43 PM (IST)

    ONGC, Cairn bid for 41 oil and gas areas
    State-owned ONGC and Vedanta today emerged as the biggest bidders for oil and gas blocks as they put in 41 out of 57 bids in India's maiden open acreage licensing regime auction that was shunned by several major global and domestic players.

  • Nov 15, 07:34 PM (IST)

    Gujarat Congress leader quits; says workers being 'ignored'
    A senior Gujarat Congress leader today resigned, apparently miffed over the party giving prominence to a group of caste and community leaders over loyal workers who he claimed were being "ignored".

    Vijay Kella, chairman of the Gujarat Congress' relief committee, said party vice-president Rahul Gandhi meets only a handful of people and does not take along workers with him.

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