Cognizant buys Australian firm Adaptra for ‘undisclosed sum’
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Cognizant buys Australian firm Adaptra for ‘undisclosed sum’

Nasdaq-listed IT major Cognizant has entered into an agreement to acquire Adaptra – the Australia-based consulting, business transformation and service provider – for an undisclosed amount. Established in 1998, Sydney-based Adaptra works with five of the top 10 insurers in Australia and New Zealand. …

Axis Bank suspends 24 employees, 50 accounts after suspicious deals
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Axis Bank suspends 24 employees, 50 accounts after suspicious deals

Private sector Axis Bank has said it has so far suspended 50 accounts and 24 employees for suspicious activities in its operations. Axis’s retail banking head Rajiv Anand said so far the investigating agencies had visited eight branches, including five in New Delhi, and the number of employees suspended has …

Ramdev’s Patanjali Fined Rs. 11 Lakh For Misleading Advertisements
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Ramdev’s Patanjali Fined Rs. 11 Lakh For Misleading Advertisements

Yoga guru Baba Ramdev promoted Patanjali Ayurveda’s five production units will have to cough up a fine worth Rs. 11 lakh for “misbranding and putting up misleading advertisements” of their products, a court in Uttarakhand’s Haridwar has ruled. Patanjali has been asked to pay the fine within …

RBI says Rs 12.44 lakh crore of old notes deposited in banks till Dec 10
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RBI says Rs 12.44 lakh crore of old notes deposited in banks till Dec 10

The amount of demonetized currency that has been deposited in banks has crossed Rs 12.44 lakh crore on December 10, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago. “The old notes of Rs 500 and Rs 1,000, which have been returned to the Reserve Bank and the …

Form 12BB- New form to claim HRA, other Tax benefits
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Form 12BB- New form to claim HRA, other Tax benefits

The Central Board of Direct Taxes (CBDT) has recently released New Form No. 12BB. This is going to be the new standard form for salaried tax payers to claim tax deduction on; LTA (Leave Travel Allowance) / LTC (Leave Travel Concession) HRA (House Rent Allowance) Interest payable on Home Loan (Section 24) and All …

Flipkart set to launch its private label ‘Flipkart Smartbuy’
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Flipkart set to launch its private label ‘Flipkart Smartbuy’

Online marketplace Flipkart is set to launch its first umbrella private label ‘Flipkart Smartbuy’. Adarsh Menon, Flipkart’s newly appointed head of private labels said,  Flipkart Smart Buy will span 25-30 categories in electronics, electronic accessories and home plastics for starters. The company is also set to …

ED arrests two Private Bank Officers for helping in conversion of black money
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ED arrests two Private Bank Officers for helping in conversion of black money

In a very shocking incident, the Enforcement Directorate has arrested two bank managers from Axis bank after they acted as mediators for converting black money into white, in lieu of a gold brick. Officials identified the two managers as Shobit Sinha and Vineet Sinha, working as managers in the Kashmere Gate …

Constitutional compulsion to roll out GST by Sep 16 next year: Arun Jaitley
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Constitutional compulsion to roll out GST by Sep 16 next year: Arun Jaitley

Union Finance Minister Arun Jaitley said on Friday it was a “constitutional compulsion” to roll out the Goods and Services Tax before September 16, 2017, reported PTI. He added that since the existing indirect tax system will cease to exist by September next year, it will be impossible to run the country without …

IFC likely to invest Rs 450 Cr in Apollo Health and Lifestyle Ltd
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IFC likely to invest Rs 450 Cr in Apollo Health and Lifestyle Ltd

Apollo Health and Lifestyle Ltd (AHLL), a wholly-owned subsidiary of Apollo Hospitals, Thursday announced receiving investments of Rs 450 crore ($65.8 million) from International Finance Corporation (IFC).  “The investment will help us meet the ever-increasing demand for quality healthcare in the country,” said …