Khadi industry likely to cross Rs 10k cr turnover in 5 yrs

Mumbai (IANS) The khadi industry in India is expected to cross Rs 10,000 crore turnover in the next five years, Khadi and Village Industries Commission (KVIC) Chairman Vinai Kumar Saxena said on Thursday.

The target for this year is set at…

Equity indices pare initial losses to trade flat

Mumbai (IANS) The key Indian equity indices pared initial losses to trade flat during the Friday afternoon trade, on hopes that the government may roll back the surcharge on foreign portfolio investors (FPIs).

At 12.47 p.m., the BSE Sensex…

No angel tax on startups, their investors: FM

New Delhi (IANS) In a major relief to entrepreneurs and startups, Finance Minister Nirmala Sitharaman on Friday announced that the 'angel tax' provision will be withdrawn for startups and their investors.

Announcing measures to boost…

Govt rolls back surcharge on FPIs to check capital outflow

New Delhi (IANS) With an aim to check the massive outflow of foreign portfolio investment since the Budget, the government on Friday withdrew the surcharge levied on them.

As a result, the tax incidence for foreign portfolio investors (FPIs)…

Economy doesn't need fiscal stimulus to tackle slowdown: CEA

New Delhi (IANS) Chief Economic Advisor (CEA) K. Subramanian on Thursday said the Indian economy does not need a fiscal stimulus to tackle the ongoing economic slowdown.

Speaking at the Hero Mindmine Summit that brings together…

Amazon launches largest delivery station in Tamil Nadu

Chennai (IANS) E-commerce giant Amazon which has doubled its last mile delivery network in Tamil Nadu on Thursday announced the launch of its largest "delivery station" in the state.

Located in Chennai, the new station will enable…

Rupee close to 6-month low at nearly 72 a dollar

Mumbai (IANS) Sell-off in the Indian equity markets and sustained outflow of foreign funds left the rupee weaker by 25 paise on Thursday. The Indian currency closed at Rs 71.81 to a US dollar, its lowest point this year.

A mix of global and…

IL&FS did not disclose NPAs for 4 years: RBI

New Delhi (IANS) The IL&FS had not disclosed any NPAs for the last four years, the Reserve Bank of India (RBI) has said in a report.

The report is based on inspection of IL&FS and IFIN and this has been conveyed by the…

Sensex, Nifty flat, Yes Bank down 3%

Mumbai (IANS) The Sensex and Nifty on Wednesday traded on a flat note awaiting a stimulus package from the Union government.

The Sensex opened slightly lower at 37,298.73 from its Tuesday's close of 37,328.01.

At 10.07 a.m., the…

Sebi eases rules for FPIs, amends norms for rating agencies

Mumbai (IANS) Market regulator Sebi on Wednesday eased the rules for foreign portfolio investors (FPI) doing away with the broad-based eligibility criteria for FPIs and announced that the registration for the multiple investment manager structure…