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Tax collections will exceed Rs 17 lakh crore, despite demonetisation: Arun Jaitley

March 22, 2017

NEW DELHI: Despite the impact of demonetisation, Indian tax collections this fiscal will exceed budgetary estimates, Finance Minister Arun Jaitley said on Wednesday. Replying to the debate on the Finance Bill in the Lok Sabha, Jaitley referred to an opposition member's fears of lower tax collections and said the actual collections by the end of th...


Idea Cellular, Vodafone India announce merger

March 20, 2017

NEW DELHI: In one of the biggest merger in the telecom space, Vodafone India and Aditya Birla Group-promoted Idea Cellular on Monday announced the much-awaited amalgamation. Idea Cellular in a regulatory filing on Monday said, its Board of Directors "have approved the scheme of amalgamation of Vodafone India Limited and its wholly owned subsidiary...


All cash withdrawal limits go back to pre-demonetisation era

March 13, 2017

MUMBAI: All limits on savings bank cash withdrawals post-demonetisation ended on Monday, as had been announced by the Reserve Bank of India (RBI) last month. In a two-stage process, the weekly withdrawal limit per account had been raised to Rs 50,000, from Rs 24,000, with effect from February 20, and all limits on ATM withdrawals were slated to ce...


ICICI, SBI saw most frauds in first 3 quarters

March 13, 2017

New Delhi, March: Private sector ICICI Bank suffered the most number of frauds during the first nine months of the current fiscal, while state-run State Bank of India took second place in this regard, Reserve Bank of India (RBI) has revealed. Data pertaining to the April-December period of 2016 provided to the Finance Ministry by the apex bank ear...


February services PMI rebounds after 3 months fall due to note ban

March 04, 2017

MUMBAI: Shrugging off the impact of the recent demonetisation measure, India’s services sector rebounded in February following continuous decline since the November demonetisation measure, revealed key macro-economic data on Friday. The Nikkei India Services Purchasing Managers’ Index (PMI) stood at 50.3 in February, up from 48.7 regis...


Note ban pulls down Q3 GDP growth in India to 7%

February 28, 2017

NEW DELHI: Reflecting a marginal impact of the November demonetisation measure, India's GDP for the third quarter ended December, estimated at Rs 30.28 lakh crore, recorded a growth of 7 per cent, compared with 7.3 per cent in the second quarter, official data showed on Tuesday. ...


Jaitley to leave for 5-day official visit to Britain

February 23, 2017

NEW DELHI: Union Finance Minister Arun Jaitley would leave on Friday morning for a five-day visit to Britain during which he will hold a businesses interaction with UK-India Business Council and deliver a lecture at London School of Economics, an official statement said. "Union Minister for Finance Arun Jaitley will leave early morning tomorrow on...


No plans to introduce Rs 1,000 notes: Shaktikanta Das

February 22, 2017

NEW DELHI: Ending all speculation about new Rs 1000 notes, on Wednesday Economic Affairs Secretary Shaktikanta Das said there are no plans to introduce new Rs 1000 notes. In a statement Das said that “No plans to introduce Rs 1000 notes. Focus is on production and supply of Rs 500 and lower denomination notes,” The statement cames a da...


Satya Nadella meets IT Minister Prasad

February 21, 2017

NEW DELHI: Indian-born Microsoft CEO Satya Nadella on Tuesday met Union IT and Electronics Minister Ravi Shankar Prasad here. The details of the meeting and the talks were yet to emerge but Nadella, after visiting Bengaluru on Monday, was scheduled to call on the minister before heading to address "Future Decoded" --Microsoft's two-day flagship te...


Trump can be a blessing in disguise for IT players: Ambani

February 16, 2017

Mumbai, Feb (PTI): As US president Donald Trump keeps the world on tenterhooks with his protectionist ways that can have a debilitating impact on the Indian IT sector, RIL Chairman Mukesh Ambani on Wednesday advised the industry to look at it as a blessing in disguise to focus on home market. "Trump can actually be a blessing in disguise. The dome...