Aircel spectrum to be seized if Maxis owners don’t appear in 2 weeks: Supreme Court
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Aircel spectrum to be seized if Maxis owners don’t appear in 2 weeks: Supreme Court

The Supreme Court has proposed to seize and transfer the 2G licence granted to Aircel to some other entity if the owner of Maxis, Malaysia-based Anantha Krishnan, does not appear in court within two weeks.  A Bench headed by Chief Justice JS Khehar also restrained the transfer of 2G spectrum originally granted …

IBM appoints Karan Bajwa as Managing Director
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IBM appoints Karan Bajwa as Managing Director

Technology giant IBM on Wednesday announced the appointment of Karan Bajwa as its Managing Director and Vanitha Narayanan was named as Chairman of IBM India. These appointments are effective immediately. Bajwa joined IBM in 2016 last year as Executive for Strategy and Transformation in the Asia-Pacific region. …

Merger of 5 associate banks & BMB with SBI could be pushed to FY18
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Merger of 5 associate banks & BMB with SBI could be pushed to FY18

SBI Chief Arundhati Bhattacharya has hinted that the mega merger of its five associate banks and Bharatiya Mahila Bank could be pushed to the next financial year as it is still awaiting the government notification in this regard.  Ms. Bhattacharya said undertaking the merger process in the last quarter; …

Home, Auto loan to become cheapest in 6 years as SBI, other banks slash rates
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Home, Auto loan to become cheapest in 6 years as SBI, other banks slash rates

Just a day after PM Modi’s New Year’s Eve speech, the country’s largest lender State Bank of India and other banks have cut down their home loan lending rates.  The country’s largest lender, SBI, has reduced marginal cost of funds based lending rate (MCLR) by 0.9 percent from 8.90 percent to 8 percent for …

Over Rs. 4,313 Crore Black Income Detected In 1,061 I-T Raids: Report
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Over Rs. 4,313 Crore Black Income Detected In 1,061 I-T Raids: Report

As the 50-days of demonetisation exercise ends on Friday, over Rs 4,313 crore of stashed cash has been detected till Thursday by the Income Tax (I-T) Department under the Finance Ministry. Post-demonetisation since November 8 decision to withdraw high-denomination currency notes of Rs 500 and Rs 1,000, the I-T …

RBI’s new Deputy  Governor Acharya to take charge on Jan 20
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RBI’s new Deputy  Governor Acharya to take charge on Jan 20

The government on Wednesday appointed Viral V. Acharya, a professor of economics at New York University, as one of the Reserve Bank of India’s four deputy governors for a term of three years, according to a statement on Wednesday.  “The Central Government has through notification dated December 28, 2016, …

Ordinance soon to impose penalty for holding old notes  after Dec 30
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Ordinance soon to impose penalty for holding old notes after Dec 30

The crucial cabinet meeting of the Union Government on Wednesday approved an ordinance that would end the government’s and the RBI’s liability on demonetised notes after the end of the March 31, 2017 deadline, according to reports. After December 30, the banned notes could be deposited only through RBI-specified …

India needs lower level of taxation to be globally competitive: Jaitley
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India needs lower level of taxation to be globally competitive: Jaitley

Finance Minister Arun Jaitley said on Monday, highlighting the need to have lower level of taxation, that lower tax levels will make it competitive globally. “What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. This is one …