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SBI slashes interest rate on savings accounts ahead of RBI’s monetary meet

July 31, 2017 State Bank of India slashes interest on savings account deposits by 50 basis points to 3.5 per cent on balance up to Rs 1 crore as compared to 4 per cent earlier. “The decline in the rate of inflation and high real interest rates are the primary considerations warranting a revision in […]

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RBI may ease rates by 25 bps, while maintaining a neutral stance

July 28, 2017(Agencies) We expect the Reserve Bank of India (RBI) to cut the policy rate by 25 basis points (bps) on August 2, thereby pushing the repo rate down to 6 per cent. Since April, the Consumer Price Index (CPI) inflation has been surprising to the downside, and the June inflation print came at […]

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PTI July 24, 2017 New Delhi, Jul 24 (PTI) Shares of HDFC Bank today ended with nearly 2 per cent gain, adding Rs 8,031 crore to its market valuation, after the company reported 20.22 per cent increase in net profit for the quarter ended June 30. The stock gained 1.83 per cent to settle at Rs […]

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July 22, 2017 PTI Calling the Goods and Services Tax (GST) a “great step towards transparency,” Union minister Smriti Irani today urged the business community to become a part of this historic tax reform. “GST is not only a good and simple tax, but also a great step towards transformation. Let us make history and […]

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Demand for zero GST on textiles cannot be accepted: Jaitley

New Delhi, July 18 (IANS) Union Finance Minister Arun Jaitley on Tuesday said the demand of textile traders to exempt fabrics under the Goods and Services Tax (GST) system cannot be met with as manufacturers will then not be able to claim credit of tax on previous stages. “The GST rate structure for the textile […]

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Gold settles below Rs 29,000, silver holds up firm

By: PTI  July 17, 2017 Gold prices on Monday got below the Rs 29,000-mark by sinking Rs 100 to Rs 28,950 per 10 grams, dragged down by slack demand from local jewellers, even as the metal made headway overseas. Silver advanced by Rs 180 to Rs 38,180 per kg, riding on increased offtake by industrial units and […]

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No GST on second hand goods if sold cheaper

New Delhi, July 15 (IANS) The buying and selling of second hand goods will not attract Goods and Services Tax (GST) if sold at a price cheaper than the purchase price, the government said on Saturday. Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017, provides that where a taxable supply is […]

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India’s retail inflation eases to 1.54% in June

New Delhi, July 12 (IANS) India’s retail, or consumer price index (CPI) based, inflation in June fell to 1.54 per cent, as compared to 5.77 per cent in the same month of last year, official data showed here on Wednesday. The June retail inflation rate fell even as compared to May when it prevailed at […]

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Assocham seeks review of GST rates for agricultural inputs

New Delhi, July 12 (IANS) Industry lobby Assocham on Wednesday urged the government to lower the Goods and Services Tax (GST) rates for select agricultural inputs, failing which use of chemical fertilisers will get a boost. “Higher GST in this segment will directly promote chemical use, thereby leading to an increase in green house gas […]

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Airtel plans Rs 2,000 cr customer interactivity programme

New Delhi, July 10 (IANS) Leading telecom operator Airtel has launched ‘Project Next’, a digital programme which, it says, will transform customer experience across all its services, with an investment of Rs 2,000 crore over the next three years. “We plan to invest Rs 2,000 crore over the next three years to launch several digital […]

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