Note ban success hinges on higher tax compliance: CEA Chief Economic Advisor Arvind Subramanian has said demonetisation can be called successful only if the amount of currency in circulation comes down over time and there is an increase in tax compliance. “Before demonetisation, the cash to GDP ratio was…
HSBC appoints new chairman in management overhaul Banking giant HSBC announced the appointment of a new chairman Monday as part of a management overhaul which will also see it choose a new CEO, after a massive drop in profits in 2016. British businessman Mark Tucker will take over from current chairman Douglas Flint in…
Paytm takes back 2 per cent fee on wallet top-up via credit cards Paytm has withdrawn the 2 per cent fee on adding money to mobile wallets using credit cards, a merely two days after introducing the levy. The Alibaba-backed company had introduced the fee on March 8 after it found multiple users using its platform to…
Gold prices down 0.36 per cent in futures trade Tracking a weak trend overseas, gold prices declined by 0.36 per cent to Rs 28,598 per 10 grams as participants trimmed positions. At the Multi Commodity Exchange, gold for delivery in far-month June shed Rs 104, or 0.36 per cent, to Rs 28,598 per 10 grams, in a business…
Aadhaar now a must for poor women to get free LPG connection The government has made having an Aadhaar card must for poor women to avail of free cooking gas (LPG) connection under the Pradhan Mantri Ujjwala Yojana. While the government in October last year had made the unique identification number mandatory for…
December quarter GDP growth surprising, says Fitch The US-based Fitch Ratings today appeared to pick holes in the government’s 7 per cent growth estimate for the December quarter despite the cash crackdown, saying official data suggesting strong private consumption are at odds with real services activity. The…
Sensex rises; state election results in focus Indian shares rose on Monday, with the NSE index moving close to breaching a key psychological level of 9,000, on hopes the ruling Bharatiya Janata Party (BJP) would win the ongoing elections in Uttar Pradesh. The elections are the world’s largest this year and will…
L&T Construction wins Rs 2,170 crore orders Infrastructure major Larsen &Toubro (L&T) today said its construction arm has won orders worth Rs 2,170 crore across various business segments including a Rs 1,169 crore contract in Oman. “The construction arm of L&T has won orders worth Rs 2,170 crore…
FDI policy easing in select sectors in the works The government is expected to soon announce relaxations in the foreign direct investment (FDI) policy in certain sectors, including single brand retail. The further liberalisation in the FDI policy is aimed at providing better business environment by removing…
Tiruchy: Bhel units linked online to monitor performance R Rajamanohar, executive director, Bhel Tiruchirappalli, power plant piping unit, Thirumayam and piping centre, Chennai, said that as a pilot scheme, two power stations have already been linked to all units of Bhel through an online monitoring system to assess…