RBI nod for Kotak Mahindra Bank promoter stake dilution

New Delhi (IANS) Kotak Mahindra Bank on Wednesday said it has got the final nod from RBI on the promoters' stake dilution plan.

"Reserve Bank of India has granted its final approval vide its letter February 18, 2020 in the matter relating…

Vodafone Idea pulls a surprise, stocks zoom 35% on the BSE

Mumbai (IANS) Vodafone Idea on Wednesday saw a sharp surge in its stock price over reports that the government is unlikely to invoke its bank guarantees for now. Its shares were trading at Rs 4.08 a share, higher by 35 per cent on the BSE.

With…

Pay hikes in India to fall to decade low in 2020

New Delhi (IANS) A new survey report on Tuesday said that India will see the lowest salary increase in a decade this year and even the real estate and transport sector -- the top national job generators -- will witness lowest pay hikes in 2020.
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Airtel pays Rs 10,000 cr AGR as Govt gets first dues

New Delhi (IANS) The first AGR payment came to government as Airtel on Monday paid Rs 10,000 crore dues to the Department of Telecom (DoT).

The company said it is paying Rs 10,000 crore in compliance with the Supreme Court order.

It…

Indian economic revival likely to be shallow: Moody's

Chennai (IANS) Global credit rating agency Moody's Investor Services on Monday said the Indian economic revival will likely to be shallow.

In its report, 'Coronavirus clouds growth outlook just as the economy showed signs of stabilization',…

RBI to switch to April-March accounting year from next fiscal

New Delhi (IANS) Over eighty years after it was set up, the Reserve Bank of India on Saturday decided to follow April-March fiscal year, and not the current July-June, as its accounting year to align with that of the Central government.

The…

DoT may encash bank guarantees of telcos on not paying AGR dues

New Delhi (IANS) The government may take action in terms of encashing the bank guarantees of Telecom Service Providers (TSPs) in case they "immediately" fail to pay their spectrum usage charges and the license fees in compliance with the Supreme Court…

No timeline yet for phasing out income tax exemptions: FM

Hyderabad (IANS) Union Finance Minister Nirmala Sitharaman on Sunday said that there is no timeline for phasing out exemptions on personal income tax for those who opted to remain in the old regime.

She told a news conference here that her…

6-7% LIC stake dilution enough to mop up Rs 90,000 cr: CEA

New Delhi (IANS) The government's Rs 2.1 lakh crore sell-off target is achievable with half of this amount expected to be met through the spill-over deals of Air India, BPCL and Concor and the remaining Rs 90,000 crore through just 6-7 per cent…

Over 17cr PAN cards to become inoperative if not linked with Aadhar by March 31

New Delhi (IANS) More than 17 crore PAN cards will become inoperative if not linked with the Aadhar by end of March.

In a move with large scale disruption potential, the Income Tax Department has said that Permanent Account Number (PAN) will…