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Moneycontrol

Economy

  • Inflation may cooled further in Nov after cash clampdown: Poll

    Inflation may cooled further in Nov after cash clampdown: Poll  

    Modi's announcement on November 8 that he was withdrawing 500 and 1,000 rupee bank notes in an attempt to curb corruption and tax evasion made it much harder for consumers to make purchases in the predominantly cash-based economy.

    09 Dec 2016, 11.43 am  |  Source: Reuters

  • Rising NPAs to put pressure on bank ratings in 2017: Fitch

    Rising NPAs to put pressure on bank ratings in 2017: Fitch  

    "Our 2017 outlook on more than three-quarters of the banks in the region is negative. Though earnings and capital buffers are generally strong enough to withstand these trends, we expect viability ratings to remain under pressure ...

    09 Dec 2016, 9.30 am  |  Source: PTI

  • Bengal for deferring GST roll-out due to demonetisation

    Bengal for deferring GST roll-out due to demonetisation  

    "The GST roll-out in itself is destabilising but for a good cause. It is destabilising on the exchequer of all states," West Bengal finance minister Amit Mitra told reporters at the state secretariat.

    09 Dec 2016, 9.28 am  |  Source: PTI

  • Depositing old notes in banks won`t make black money white: FM

    Depositing old notes in banks won't make black money white: FM  

    Less than a month after the government demonetised old Rs 500 and 1000 notes in its biggest step to fight black money, corruption and counterfeit currency, nearly Rs 11.85 lakh crore out of the Rs 15.44 lakh crore junked notes wer...

    09 Dec 2016, 8.54 am  |  Source: PTI

  • Special package for made ups sector to generate 11 lakh jobs

    Special package for made ups sector to generate 11 lakh jobs  

    "The much-awaited package for the made ups sector approved by the Union Cabinet with the primary objective of creating large scale direct and indirect employment to employ upto 11 lakh persons over the next three years in this sec...

    09 Dec 2016, 8.54 am  |  Source: PTI

  • Demonetisation `effective step` in curbing corruption: Niti

    Demonetisation 'effective step' in curbing corruption: Niti  

    The Indian economy in the past 10 years has well been brought back on track by Prime Minister Narendra Modi, from where former BJP Prime Minister Atal Bihari Vajpayee had left, he said in a recorded message to IIT Jodhpur students...

    09 Dec 2016, 8.54 am  |  Source: PTI

  • RBI, bankers worried over cyber security on e-payments: Naidu

    RBI, bankers worried over cyber security on e-payments: Naidu   

    There is a need to convince the public to take the digital route for making transactions, says Arvind Panagariya, Vice Chairman of NITI Aayog. But the issue of cyber security remains and will be looked into, he adds.

    09 Dec 2016, 8.44 am  |  Source: CNBC-TV18

  • Who knew? Modi`s black money move kept a closely guarded secret

    Who knew? Modi's black money move kept a closely guarded secret  

    Hasmukh Adhia, the bureaucrat, and five others privy to the plan were sworn to utmost secrecy, say sources with knowledge of the matter. They were supported by a young team of researchers working in two rooms at Modi's New Delhi r...

    09 Dec 2016, 8.13 am  |  Source: Reuters

  • Demonetisation may erode 4.7 lakh cr from GDP: Amit Mitra

    Demonetisation may erode 4.7 lakh cr from GDP: Amit Mitra  

    The old high denomination notes were demonetised from November 9. Since then long queues are being witnessed at bank branches and outside ATMs for cash withdrawal.

    09 Dec 2016, 7.54 am  |  Source: PTI

  • Issued Rs 4.27 lakh crore notes post demonetisation: RBI

    Issued Rs 4.27 lakh crore notes post demonetisation: RBI  

    The Reserve Bank also said that it "will shortly" issue Rs 500 denomination banknotes in the Mahatma Gandhi (New) Series, without any inset letter, bearing signature of Governor Urjit R Patel.

    09 Dec 2016, 7.54 am  |  Source: PTI

  • Indo-US co-op in field of smart cities will endure: Carlson

    Indo-US co-op in field of smart cities will endure: Carlson  

    The partnership will endure due to the commitment to building on the tremendous progress already made to help make India's cities smart, efficient, and prepared for sustainable growth in the decades ahead, Carlson said.

    09 Dec 2016, 7.54 am  |  Source: PTI

  • RBI asks banks to upload KYC with central registry from Jan 1

    RBI asks banks to upload KYC with central registry from Jan 1  

    Reserve Bank today directed all banks to upload the Know Your Customer (KYC) data pertaining to new individual accounts opened after January 1, with Central KYC Records Registry.

    08 Dec 2016, 9.52 pm  |  Source: PTI

  • 30 days since cash ban, has PM`s move delivered on its promises?

    30 days since cash ban, has PM's move delivered on its promises?   

    Over the last one month, the government has taken a number of steps to ease the impact of the note ban. ATM withdrawal limit, which was initially set at 2000 rupees per day has since been revised to 2500 rupees a day. Over-the-cou...

    08 Dec 2016, 9.39 pm  |  Source: CNBC-TV18

  • Demonetisation: Get discounts on fuel, rail tickets, tolls on digital payments

    Demonetisation: Get discounts on fuel, rail tickets, tolls on digital payments   

    Here are key steps Finance Minister Arun Jaitley announced Thursday to incentivise digital payments.

    08 Dec 2016, 6.00 pm  |  Source: Moneycontrol.com

  • India can outperform China in coming years in home textile mkt

    India can outperform China in coming years in home textile mkt  

    This measure, on the back of the special package for apparel sector, will help to increase the market share of home textile market globally, ITF Secretary, Prabhu Dhamodharan said in a statement here.

    08 Dec 2016, 5.34 pm  |  Source: PTI

  • GST Council may reduce tax slabs in future: CBEC chief

    GST Council may reduce tax slabs in future: CBEC chief  

    The GST Council may in future decide to reduce the tax slabs under the Goods and Services Tax regime after analysing the revenue garnered and the compensation payouts to states, a top official said today.

    08 Dec 2016, 5.34 pm  |  Source: PTI

  • Demonetisation to impact India`s EXIM trade in Oct-Dec: Maersk

    Demonetisation to impact India's EXIM trade in Oct-Dec: Maersk  

    Government's decision to ban use of old Rs 1,000 and Rs 500 currency notes is expected to impact adversely the growth of export-import (EXIM) trade, shipping giant Maersk Line said in a report.

    08 Dec 2016, 5.34 pm  |  Source: PTI

  • $48 bn textile exports target looks hard to achieve: Government

    $48 bn textile exports target looks hard to achieve: Government  

    The overall exports of textiles and garments from India during 2015-16 was USD 40 billion, falling way short of the USD 47.5 billion target.

    08 Dec 2016, 4.14 pm  |  Source: PTI

  • COMMENT: Should you buy into the government`s stake sale in these 4 PSUs?

    COMMENT: Should you buy into the government's stake sale in these 4 PSUs?  

    The government is planning to raise Rs 12,000 crore through the Offer for Sale route with likely candidates being Nalco, NMDC, MOIL and BEL. Here’s a brief look at the prospects of the four companies.

    08 Dec 2016, 4.08 pm  |  Source: Moneycontrol.com

  • Indian pharma industry facing growth headwinds: ICRA

    Indian pharma industry facing growth headwinds: ICRA  

    Growth from the US has come down to less than 9 percent in first half of 2016-17 despite consolidation and currency benefits and going forward, the growth momentum is likely to face further pressure, it said.

    08 Dec 2016, 4.04 pm  |  Source: PTI

  • Short term pain will lead to long term gains: PM on note ban

    Short term pain will lead to long term gains: PM on note ban  

    In a series of tweets, Modi spoke about the benefits of demonetization and said the country has a "historic opportunity" to embrace increased cashless payments.

    08 Dec 2016, 3.24 pm  |  Source: PTI

  • States` demand of sole control in GST disempowers Centre: CBEC

    States' demand of sole control in GST disempowers Centre: CBEC  

    Lack of consensus on the issue of how the new tax, having central and state elements, would be collected and administered is holding up the supporting legislations on the Goods and Service Tax (GST), which the government is keen o...

    08 Dec 2016, 3.14 pm  |  Source: PTI

  • RBI may cut rates by up to 50 basis points next year: Report

    RBI may cut rates by up to 50 basis points next year: Report  

    RBI surprised with a status quo on policy, premised on upside risk to January-March quarter inflation and limited transient growth drag owing to demonetisation.

    08 Dec 2016, 2.46 pm  |  Source: PTI

  • Pakistan lifts ban on Indian cotton imports

    Pakistan lifts ban on Indian cotton imports  

    Earlier, the Department of Plant Protection (DPP) of the Ministry of National Food Security and Research put cotton imports from India on hold through Wagah and Karachi port from November 23, saying the shipments did not fulfil ph...

    08 Dec 2016, 2.34 pm  |  Source: PTI

  • India takes steps to ease impact from ban on banknotes

    India takes steps to ease impact from ban on banknotes  

    Prime Minister Narendra Modi shocked the country on November 8 by abolishing 500 and 1,000 rupee notes, which accounted for 86 percent of the cash in circulation. The move was aimed at cracking down on the shadow economy, but has ...

    08 Dec 2016, 12.59 pm  |  Source: Reuters

  • Govt plans projects to overcome land problems for solar power

    Govt plans projects to overcome land problems for solar power  

    "The government has planned to overcome the challenge by launching the schemes like development of solar parks and ultra mega solar power projects, development of solar zones in the country and roof top solar projects," Minister f...

    08 Dec 2016, 12.56 pm  |  Source: PTI

  • First Demonetisation Committee meet to focus on digital payments

    First Demonetisation Committee meet to focus on digital payments   

    The committee, headed by Andhra Pradesh Chief Minister Chandrababu Naidu comprises of other Chief ministers, NITI Aayog Chief Amitabh Kant and banking experts like Arundhati Bhattacharya. RBI Governor Urjit Patel will be presiding...

    08 Dec 2016, 12.55 pm  |  Source: CNBC-TV18

  • Govt to waive service tax on card transactions up to Rs 2,000

    Govt to waive service tax on card transactions up to Rs 2,000  

    The government has decided to "exempt services by an acquiring bank to any person in relation to settlement of an amount up to Rs 2,000 in a single transaction transacted trough credit, debit card or other payment card service", s...

    08 Dec 2016, 12.22 pm  |  Source: PTI

  • India scraps import duty on wheat: Government source

    India scraps import duty on wheat: Government source   

    Private importers have purchased about 500,000 tonnes of wheat, largely from Australia, in the past month.

    08 Dec 2016, 12.17 pm  |  Source: Reuters

  • Growth hit may be little more than RBI`s estimate: Nomura

    Growth hit may be little more than RBI's estimate: Nomura   

    Sonal Varma of Nomura and Ravikant Bhat of IDBI Capital believe that RBI's move to keep key rates unchanged was fair given that it did not see inflation going down at the moment.

    08 Dec 2016, 9.35 am  |  Source: CNBC-TV18

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