GST on under-construction houses cut to 5%

New Delhi (IANS) The GST Council on Sunday lowered the tax on under-construction residential properties to 5 per cent from 12 per cent to boost the realty sector. The new rates will be implemented from April 1.

The council also reduced goods…

SBI mulling insolvency route via NCLT to recover Jet Airways loan

Mumbai (IANS) State-run State Bank of India (SBI) is looking at approaching the National Company Law Tribunal (NCLT) to recover its loans from private carrier Jet Airways, according to SBI officials.

By an overwhelming majority, shareholders…

'4.2 bn euros, 50k jobs lost if high-speed train link to France ditched'

Brussels (IANS/AKI) A total 4.2 billion euros and 50,000 jobs will "go up in smoke" if Italy's populist government pulls a planned high-speed rail link to France, European Parliament president Antonio Tajani said on Friday.

SEBI bars commodity trading by Motilal Oswal, IIFL in NSEL scam

Mumbai (IANS) Market regulator Securities and Exchange Board of India (SEBI) has declared the commodity broking arms of Motilal Oswal and India Infoline (IIFL) as not "fit and proper", as part of the action taken in the NSEL case.

SEBI…

India Ratings maintains stable outlook for auto sector in 2019-20

Mumbai (IANS) Ratings agency India Ratings and Research (Ind-Ra) has maintained a stable outlook on the auto sector, anticipating improving sales in the sector during the next fiscal over expectations of better liquidity in non-bank financial companies.

Government bans unregulated deposit schemes

New Delhi (IANS) The government has issued the Banning of Unregulated Deposit Schemes Ordinance, 2019 to prevent chit fund scams and protect small investors.

The ordinance, which prevents any individual or group of individuals from taking any…

Key Indian equity market indices open in green

Mumbai (IANS) Taking a cue from global markets, the key Indian equity market indices on Thursday opened higher.

The Sensitive Index (Sensex) of the BSE, which had closed at 35,756.26 on Wednesday, opened higher at 35,837 points.

Minutes…

Nifty PSU Bank Index outperforms after Rs 48,239 cr fund infusion

Mumbai (IANS) A day after the Finance Ministry announced capital infusion of Rs 48,239 crore in the 12 public sectors banks, PSU Bank Nifty index gained up to 1.6 per cent, outperforming the Nifty50 index.

During the afternoon trade…

EPFO Board recommends 8.65% interest rate for 2018-19

New Delhi (IANS) The Employees' Provident Fund Organisation (EPFO) board has recommended an interest rate of 8.65 per cent for 2018-19, 10 basis points higher over the previous fiscal.

In the financial year 2017-18, the interest rate was…

RBI Governor to meet bank CEOs on Thursday on rate transmission

New Delhi (IANS) Reserve Bank of India Governor Shaktikanta Das will meet PSU and private sector banks CEOs and MDs on Thursday to discuss rate transmission and persuade them to pass on the advantages after taking note of the non-passing…