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Finance-Economy-News-The Economic Times

Latest News and Analysis on Government Finances, Public Financing, Government revenue and spending, Bank Credit, Financial Regulation by government and central bank RBI's policy on banking.

Last Build Date: Tue, 06 Dec 2016 11:36:41 GMT

Copyright: Copyright:(C)2016 Bennett Coleman & Co. Ltd,

67.4 kg seized gold misplaced at IGI this year; Customs told to sell rest urgently

Tue, 06 Dec 2016 11:04:25 GMT

(image) Earlier, the Customs was allowed to sell the confiscated gold only through the banking behemoth State Bank of India. The guidelines for sale of such gold were revised last in August 2005.

GST rollout to cost Rs 16,000 crore to take old trucks off roads

Mon, 05 Dec 2016 20:00:20 GMT

(image) The earlier plan was to offer excise rebates to incentives owners to junk old vehicles for a new one, but with excise duty coming in under the overarching framework of the new tax system.

Need for non-disruptive mode of liquidity absorption: Report

Mon, 05 Dec 2016 11:43:17 GMT

(image) In order to manage liquidity condition post demonetisation, the RBI on November 28 had asked banks to maintain an incremental CRR of 100 per cent on deposits accrued between September 16, 2016 and November 11, 2016.

View: Expanding liquidity corridor more pragmatic option

Mon, 05 Dec 2016 06:33:03 GMT

(image) The demonetisation exercise has clearly made the system pause, take stock and think about how to navigate the next few quarters in the best possible manner.

Sterlite Power seeks Sebi nod to raise Rs 2,650 crore via infrastructure investment trust

Sun, 04 Dec 2016 20:38:52 GMT

(image) “The InvIT will be our listed vehicle. As we bid for more projects and more projects get operational, we will continue to expand the portfolio of the trust,” Shah said.

Income Disclosure Scheme bags Rs 67,382 crore unaccounted money

Sun, 04 Dec 2016 16:10:14 GMT

(image) After final reconciliation, the revised figure of actual declarations received and taken on record was Rs 67,382 crore which had been made by 71,726 declarants

IDS gets Rs 67,382 crore, over Rs 2K crore higher than estimate

Sun, 04 Dec 2016 12:08:01 GMT

(image) The ITdept, it said, did not take into consideration the much-talked about Rs 13,860 crore declaration made by Ahemdabad based Mahesh kumar Champaklal Shah.

Income Tax Department detects undisclosed Rs 1.64 crore in Jan Dhan accounts

Sun, 04 Dec 2016 10:28:12 GMT

(image) "Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in Jandhan accounts have revealed various inconsistencies."

Jan Dhan deposits stabilise; get Rs 1,487 crore in 7 days

Sun, 04 Dec 2016 10:08:13 GMT

(image) Deposits in the 25.85 crore such accounts totalled Rs 74,321.55 crore at the end of November 30, as per the Finance Ministry data.

India takes pride of place, crosses $300 billion FDI milestone

Sun, 04 Dec 2016 07:55:31 GMT

(image) 33% of the FDI came through the Mauritius route, apparently because the investors wanted to take advantage of India's double taxation avoidance treaty with the island nation.

Government planning to sell 15 per cent stake in MMTC: CMD

Sat, 03 Dec 2016 13:56:50 GMT

(image) The government a couple of months ago, announced intention to hire bankers for divesting part of its stakes in state-owned trading firms MMTC.

Parliamentary Panel asks coal PSUs to recover dues worth Rs 13,745 cr

Fri, 02 Dec 2016 16:34:00 GMT

(image) The Parliamentary Standing Committee on Coal and Steel, chaired by Rakesh Singh, commended the work done on rationalisation of coal linkages, which helped in savings worth Rs 1,371 crore.

Banks with currency chest need to boost supply for crop: RBI

Fri, 02 Dec 2016 11:21:26 GMT

(image) RBI also said there is a perception that banks with currency chests are giving priority to their own branches to supply cash and asked them to quell the misinformation.

Paytm, ItzCash, RazorPay and PayU making most of this unexpected business opportunity

Thu, 01 Dec 2016 19:53:04 GMT

(image) Payments solution company PayU plans to incentivise employees with extra leave days when required, since they supported the organisation in the critical phase.

Crisil slashes GDP growth by 100 bps to 6.9% for FY'17

Thu, 01 Dec 2016 16:03:24 GMT

(image) Crisil said that uncertainty coupled with a fall in consumption demand and inventory build-up, will push back recovery in private corporate investments.