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Moneycontrol

Economy

  • J&K govt forms panel to look into GST-related issues

    J&K govt forms panel to look into GST-related issues  

    The Jammu and Kashmir government has formed a high-level committee to look into the issues, including the drafting of legislation, pertaining to joining the Centre's proposed Goods and Services Tax (GST) and asked the panel to sub...

    11 Dec 2016, 3.40 pm  |  Source: PTI

  • Govt to amend RBI Act to annul old Rs 500/1000 currency notes

    Govt to amend RBI Act to annul old Rs 500/1000 currency notes  

    The government is likely to amend the Reserve Bank of India Act to extinguish the validity of Rs 500 and Rs 1000 printed before November 9 and a reference to this effect would be made in the upcoming Budget.

    11 Dec 2016, 11.54 am  |  Source: PTI

  • Indian manufacturing sector may improve in Oct-Dec: Ficci

    Indian manufacturing sector may improve in Oct-Dec: Ficci  

    India's manufacturing sector may show growth improvement in the October-December quarter with a slightly better outlook for production, driven by better export prospects, according to a report.

    11 Dec 2016, 11.54 am  |  Source: PTI

  • CMs` panel for roll out of simpler USSD version on X-Mas

    CMs' panel for roll out of simpler USSD version on X-Mas  

    The Chief Ministers' panel on digital payments has asked government to roll out from December 25 a more user friendly version of USSD or *99#, which is used on feature mobile phones for making cashless payments as cash crunch due ...

    10 Dec 2016, 5.36 pm  |  Source: PTI

  • Surprise, surprise: RBI wrong-foots investors again

    Surprise, surprise: RBI wrong-foots investors again  

    When it comes to interest rate decisions under Reserve Bank of India's new governor, Urjit Patel, the only certainty seems to be that nothing is certain.

    09 Dec 2016, 9.44 pm  |  Source: Reuters

  • NITI panel for level playing field to boost digital payments

    NITI panel for level playing field to boost digital payments  

    A NITI Aayog panel, set up to review the framework related to digital payments, today called for promoting electronic modes by providing level playing field to all stakeholders including new players.

    09 Dec 2016, 9.30 pm  |  Source: PTI

  • Indianomics: Disounts are in, but is India ready to `go cash-less`?

    Indianomics: Disounts are in, but is India ready to 'go cash-less'?   

    Despite the lucrative discounts announced yesterday, the question still remains whether India is ready to cash-less or not and do we have the infrastructure which compliments this crusade.

    09 Dec 2016, 8.53 pm  |  Source: CNBC-TV18

  • Apr-Nov indirect tax mop-up grows 26.2%, direct tax 15.12%

    Apr-Nov indirect tax mop-up grows 26.2%, direct tax 15.12%  

    Government's revenue collection in April to November saw indirect tax-mop up growing at an impressive 26.2 per cent while that of direct tax came in at 15.12 per cent.

    09 Dec 2016, 8.18 pm  |  Source: PTI

  • Experts say remonetisation will take around 4-12 months

    Experts say remonetisation will take around 4-12 months   

    There are estimates that it will take anywhere between 4 months to one year to remonetise the economy, Former RBI Deputy Governor KC Chakrabarty told CNBC-TV18.

    09 Dec 2016, 7.47 pm  |  Source: CNBC-TV18

  • Expect sharp fall in IIP due to demonetisation: Care Ratings

    Expect sharp fall in IIP due to demonetisation: Care Ratings   

    Going forward it is going to be a sharp fall in the next couple of months and the negative number can further increase for the months of November and December due to demonetisation, said Madan Sabnavis, Chief Economist at Care rat...

    09 Dec 2016, 7.05 pm  |  Source: CNBC-TV18

  • Oct IIP falls 1.9%; road-bumps ahead as cash ban hurt spending

    Oct IIP falls 1.9%; road-bumps ahead as cash ban hurt spending  

    Factory output could get worse in the coming months with households putting off purchases and companies deferring investment hit by an economy-wide cash-crunch following the unexpected ban on Rs 500 and Rs 1,000 currency notes.

    09 Dec 2016, 6.05 pm  |  Source: Moneycontrol.com

  • Demonetisation drive hitting Budget preparations: Officials

    Demonetisation drive hitting Budget preparations: Officials  

    Officials fear the move will slow economic activity for much longer than originally expected, as millions of people continue to queue at banks and ATMs for cash and companies struggle to pay wages and suppliers.

    09 Dec 2016, 3.53 pm  |  Source: Reuters

  • Steps taken to ensure availability of cash in rural areas: FM

    Steps taken to ensure availability of cash in rural areas: FM  

    Currency notes are supplied by the RBI through currency chests maintained in the banks, keeping in mind the requirement in various areas and regions, he said in a written reply to Lok Sabha.

    09 Dec 2016, 2.52 pm  |  Source: PTI

  • India may face tight wheat supply as Ukrainian shipments delayed

    India may face tight wheat supply as Ukrainian shipments delayed  

    India on Thursday scrapped its 10 percent import duty on wheat after droughts in the past two years depleted stocks and raised prices, a move traders said could lift overseas purchases to their highest in a decade.

    09 Dec 2016, 2.50 pm  |  Source: Reuters

  • Govt gets Rs 146 cr from equalisation levy till Dec 2016-17

    Govt gets Rs 146 cr from equalisation levy till Dec 2016-17  

    A person making payment exceeding in aggregate of Rs 1 lakh a year to a non-resident, who does not has a permanent establishment in India, for online advertisement has to withhold 6 per cent of the amount paid as Equalisation Levy...

    09 Dec 2016, 2.20 pm  |  Source: PTI

  • Govt decides to print plastic currency note

    Govt decides to print plastic currency note  

    "It has been decided to print banknotes based on plastic or polymer substrate. The process of procurement has been initiated," Minister of State for Finance Arjun Ram Meghwal said in a written reply in Lok Sabha to a query whether...

    09 Dec 2016, 2.18 pm  |  Source: PTI

  • India growth on recovery path from April next: Morgan Stanley

    India growth on recovery path from April next: Morgan Stanley  

    According to the global financial services firm, the currency replacement programme is a roadblock in the short term and GDP growth for the quarters ending December and March is expected to slow down by around 50-75 bps.

    09 Dec 2016, 2.10 pm  |  Source: PTI

  • VIDEO: Why is the rupee falling?

    VIDEO: Why is the rupee falling?  

    Possible US Fed rate hike, OPEC decision to cut crude production and redemption of FCNR deposits are causing volatility in the rupee. Here is a quick video to help you understand why the rupee is falling.

    09 Dec 2016, 1.15 pm  |  Source: Moneycontrol.com

  • 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

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