Cost of credit, NPA positioning restricting banks to cut MCLR: SBI
Mumbai, Aug 3 (IANS) The SBI on Thursday said that though the Marginal Cost of Funds-based Lending Rate (MCLR) is expected to be in tandem with the policy rates, banks are hesitant to reduce it due to cost of credit and deposits and NPAs positioning. The Reserve Bank of India (RBI) on Wednesday cut the […]
LS passes 2 bills extending CGST, IGST to Jammu & Kashmir
PTI :Aug 03, 2017 NEW DELHI: The Lok Sabha today passed two bills extending Central GST and Integrated GST to Jammu and Kashmir, with Finance Minister Arun Jaitley saying the step will ensure greater economic integration of the state with rest of the country. He asserted that special status of Jammu and Kashmir was “never meant to create economic […]
GST, weak demand pulls manufacturing output down: PMI
Mumbai, Aug 1 (IANS) India’s manufacturing sector’s output declined last month due to the launch of the Goods and Services Tax (GST) along with weak demand, a key macro-economic data showed on Tuesday. The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), which is a composite indicator of manufacturing performance, stood at 47.9 in July from […]
Sensex, Nifty at new closing highs, rate cut hopes buoy sentiments
Mumbai, July 31 (IANS) Key Indian equity indices closed at new highs on Monday cheered by hopes of a rate cut in the upcoming monetary policy review of the Reserve Bank of India (RBI), coupled with expectations of healthy quarterly results. Investors’ sentiments were also buoyed by broadly positive global cues and intense buying activities […]
Deadline to file income tax returns extended to August 5
July 31, 2017 The last date for filing of income tax returns for the financial year 2016-17 has been extended to August 5. The last date for filing returns was today, July 31. The department has already received over 2 crore returns filed electronically. On reports of the e-filing website facing glitches, the official said […]
J&K violence dents economy, over 5% dip in credit growth in 9 Valley districts
THE UNREST in J&K over the last year severely dented economic activity and credit growth across nine districts in the Valley, which were affected the most by the turmoil, according to data available with Reserve Bank of India. RBI data show that credit growth across these districts, including Srinagar, fell below 5 per cent for […]
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 […]
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 […]
HDFC Bank stock gains 2% post Q1 earnings
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 […]
Adopt GST and become part of history: Smriti Irani to business community
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 […]
