Banking updates: August 2018

Friday, August 31, 2018

Trump is said to back $200 bn China tariffs next week

The president plans to impose the tariffs once the deadline passes, according to the people familiar with the matter.

from India Infoline News Service https://ift.tt/2Po2pCz

Rotate employees in sensitive posts: CVC directs banks, insurance companies

The CVC had in May this year asked banks and insurance companies to effect rotational transfers in respect of those officers in sensitive posts who are continuing beyond three years.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2N4gZlr
via

'Vodafone Idea will contribute to India's digital economy'

After the merger, the new entity with subscriber base of 408 million, overtakes Sunil Bharti Mittal-led Bharti Airtel to become India largest telco

from The Hindu - Industry https://ift.tt/2N6rAfF

Dilip builcon wins contract worth Rs1,698cr

The contract is for the construction of Access Controlled Nagpur-Mumbai Super Communication Expressway and is expected to be completed in 30 months.

from India Infoline News Service https://ift.tt/2opcVOD

Ind vs Eng: इंग्लैंड के बल्लेबाजों पर बिफरे केविन पीटरसन, पूछा- इन्हें कोचिंग कौन देता है

लंदन. भारत और इंग्लैंड के बीच साउथैम्पटन में खेले जा रहे चौथे टेस्ट में एक बार फिर इंग्लैंड का टॉप ऑर्डर लड़खड़ा गया। दोनों ओपनर विफल रहे। कीटोन जेनिंग्स तो जल्दी आउट हो गए लेकिन दिक्कत एलिस्टर कुक को लेकर ज्यादा है। वो 50 से ज्यादा खेलने के बाद एक गैर जिम्मेदाराना स्ट्रोक खेलकर आउट हुए। बहरहाल, ओपनर ही क्यों इंग्लैंड के पूर्व टेस्ट बल्लेबाज केविन पीटरसन ने इंग्लैंड के पूरे बैटिंग लाइनअप को ही कठघरे में खड़ा कर दिया है। उन्होंने पूछा है कि बल्लेबाजों को कोचिंग कौन देता है।

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

from दैनिक भास्कर https://ift.tt/2NvAdxc

European stocks slip on Trump trade talk; EM under pressure

Emerging-market equities fell a second day, while the Indian rupee dropped to a record and South Africas rand slid to the lowest in two years as contagion spread from Argentina and Turkey.

from India Infoline News Service https://ift.tt/2C2VtJx

August turns ugly for emerging markets as currency crises spread

In Asian trading Friday, the Indonesian rupiah slid to its lowest since 1998, while the Indian rupee was set for its biggest monthly drop in three years and a fresh record low.

from India Infoline News Service https://ift.tt/2LIOgxU

Government Stock - Auction Results: Cut-off

from PRESS RELEASES FROM RBI https://ift.tt/2PTuQtb
via

10 NBFCs surrender their Certificate of Registration to RBI

The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration.

Sr. No.	Name of the Company	Office Address	CoR No.	Issued On	Cancellation Order Date
1.	Welspun Finance Limited (Presently known as Welspun Tradewel Limited)	Survey No.76, Village Morai, Vapi Valsad, Gujarat-396 191	14.00185	March 04, 1998	June 11, 2018
2.	Total Financial Services Limited	8/1A Sir William Jones Sarani, 1st Floor, Suit No.2, Kolkata-700 071, West Bengal 85, Ballygunge Place, Gariahat, Kolkata-700 019, West Bengal	B.05.02481	October 22, 2001	June 11, 2018
3.	L D R Sales & Services Pvt. Ltd.	8/1, Lal Bazar Street, 1st Floor, Room No.2, Kolkata-700 007, West Bengal	05.01234	March 24, 1998	June 13, 2018
4.	Multi-Act Equity Consultancy Private Limited (Previously known as ICC Investment and Finance Consultants Ltd.)	3rd Floor, Trade Centre, North Main Road, Koregaon Park, Pune 411 001, Maharashtra	B-13.00307	March 09, 1998	July 11, 2018
5.	Thompsons Investments Private Limited	Old No:40, New No:52, School Road, Chetpet, Cehnnai-600 031	B: 07.00689	March 05, 2002	July 17, 2018
6.	Y.R. Investments Private Limited	1451, Gobind Nagar, Near Kaka Marriage Place, Ludhiana, Punjab-141 001	06.00095	April 24, 1998	July 20, 2018
7.	Chadha Housing And Capital Services (P) Ltd.	Inside Ghee Mandi, Amritsar, Punjab-143 001	B-06.00101	April 30, 2004	July 02, 2018
8.	CKG Finance Private Limited	CKG Building, Koottanand, Ottapalam, Palakkad, Kerala-679 533	B.16.00129	November 17, 2000	July 03, 2018
9.	Mahima Auto & Finance Limited	202, Embassy Tower, Janjeerwala Square, 20/1, Race Couse Road, New Palasia, Indore, Madhya Pradesh	03.00077	September 17, 1998	August 07, 2018
10.	B.V. Finance and Leasing Limited (Presently known as B.V. Finance and Leasing Private Limited)	A-979, Indira Nagar, Lucknow, Uttar Pradesh-226 016	B-12.00428	July 08, 2008	August 14, 2018

As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/513

from PRESS RELEASES FROM RBI https://ift.tt/2NB5MWs
via

J.B Chemicals approves buying back 3.99% of co. at Rs390/share

The Board of the company has approved buyback of up to 33 lakh equity shares of face value of Rs2 each by the company at a price of Rs390 per share for a total consideration not exceeding Rs130cr.

from India Infoline News Service https://ift.tt/2NCJ3Jw

BSE Pharma Index extends gain; Sun Pharma, Dr. Reddys among top gainers

The pharma stocks gained during noon trade amid fresh fall in Indian rupee.

from India Infoline News Service https://ift.tt/2op6oDB

Diesel guzzler Indian Railways turns to natural gas to cut cost

Using natural gas will be about 25 per cent cheaper than the alternative fuels used by the railways at workshops and production units, said Ashwani Lohani, chairman of Indian Railways’ board. He said the company would strive to shift all 54 of its workshops to natural gas by June 2019.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2LH2a3n

What a falling rupee means for household budgets, other plans

On Friday, the rupee plunged to a new-low as it hit the psychological 71-mark against the US dollar for the first time. For an import-dependent country such as India, currency depreciation hurts on several fronts, besides leading to a rise in general inflation.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2N2VG3M

Vodafone completes merger with Idea, creates India's largest mobile operator

The combination will have all India revenue market share of 32.2 per cent and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue. The telecom giant will topple Bharti Airtel from its current pole position, and will have the firepower to take on competition in the Indian telecom market

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2LL76nQ

Reliance Infra wins EPC contract for Mumbai-Nagpur expressway

The overall schedule for the project is 30 months from the appointed date.

from India Infoline News Service https://ift.tt/2N2c8B8

BSE to launch F&O contracts on Bharat-22 index from Sept 3

At present, there are over 200 securities available in the F&O segment for trade.

from India Infoline News Service https://ift.tt/2N5UpJ3

Reliance Communications drops 2% following block deals

As per media reports, ~13 lakh shares changed hands in a single block deal.

from India Infoline News Service https://ift.tt/2PmOaxZ

Sadbhav Engineering receives road project worth Rs162cr

The contract period for construction is 2.5 years, while for maintenance it is 4 years.

from India Infoline News Service https://ift.tt/2opXXYT

JSW Energy vs. Tatas war intensifies over Prayagraj Power offer

JSW Energy has raised its bid to Rs6,200cr for acquiring a stake in debt-laden Prayagraj Power Generation.

from India Infoline News Service https://ift.tt/2wqUJbO

Banking stocks decline led by Yes Bank

Shares of Yes Bank fell over 5% after the bank has received Reserve Bank of Indias approval that Rana Kapoor may continue as the MD and CEO of the Bank, till further notice from the RBI.

from India Infoline News Service https://ift.tt/2BYwVkR

Cola giant to pay Rs 1 lakh litigation costs to lawyer

When a lab, approved by the Food and Drug Administration, confirmed in May 2012 that the sealed bottle did contain a dead insect and ‘some black particles’, Hindustan Coca-Cola, through DH Law Associates, had questioned the authenticity of the report.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2NzsONz

Rupee hits 71 mark: Read how it may impact you

Decoding the reason behind this free fall, here is why it's bad for the economy, and at the same good.

from Economy-News-The Economic Times https://ift.tt/2wui5NP
via

As rupee rains woes, importers run for cover

The rupee touched a record low at 70.86 to the dollar on Thursday amid strong month-end demand for the US currency in both onshore and offshore markets.

from Economy-News-The Economic Times https://ift.tt/2opjdOc
via

Malaysia takes India to WTO's safeguard committee on solar duty

Earlier this month, India had imposed safeguard duty of up to 25 per cent on solar cells imports from China and Malaysia for two years to protect domestic players from steep rise in inbound shipments.

from Economy-News-The Economic Times https://ift.tt/2LFrDud
via

NBFC-MFIs post over 50 per cent year-on-year growth in Q1 FY19

Overall microfinance industry has grown by 39 per cent year-on-year in April-June quarter of the fiscal and total size of the microfinance industry stands at Rs 1,48,097 crore, the MFIN said.

from Economy-News-The Economic Times https://ift.tt/2N8ftyQ
via

Demonetisation reduced cash transactions, says Niti Aayog VC

As per the RBI Annual Report released yesterday, 99.3 per cent of the demonetised Rs 500 and Rs 1,000 notes were returned to the banking system.

from Economy-News-The Economic Times https://ift.tt/2oou8HU
via

Public cooperative model need of the hour: RBI director Satish Marathe

Similarly, the Niti Aayog should give priority to the co-operative sector in the its policies, Satish Marathe said.

from Economy-News-The Economic Times https://ift.tt/2PROxBV
via

Demonetisation led to more tax collection, higher growth: Arun Jaitley

Finance Minister Arun Jaitley said the Reserve Bank has twice released its reports stating that the demonetised notes Rs 500 and Rs 1,000 have been substantially deposited in the banks.

from Economy-News-The Economic Times https://ift.tt/2Nxg0ah
via

Economy to grow by 7.6pc in Q1 on favourable base effect: Report

The major push to growth is likely to come from the manufacturing and the services sector while agricultural growth is also likely to be supportive, the report added.

from Economy-News-The Economic Times https://ift.tt/2Nuk6Qr
via

Result of the 14-day Variable Rate Repo Auction held on August 31, 2018

Notified Amount (in ₹ billion)	230.00
Total amount of bids received (in ₹ billion)	155.50
Amount allotted (in ₹ billion)	155.50
Cut off Rate (%)	6.51
Weighted Average Rate (%)	6.51
Partial Allotment Percentage of bids received at cut off rate	NA

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/512

from PRESS RELEASES FROM RBI https://ift.tt/2NA6e7q
via

Money Market Operations as on August 30, 2018


(Amount in ₹ billion, Rate in Per cent)

MONEY MARKETS ^@
	Volume	Wtd.Avg.Rate	Range
	(One Leg)
A. Overnight Segment (I+II+III+IV)	1,999.15	6.27	2.00-6.50
I. Call Money	177.53	6.34	5.00-6.50
II. CBLO	1,343.26	6.28	6.15-6.37
III. Market Repo	478.36	6.21	2.00-6.50
IV. Repo in Corporate Bond	0.00
B. Term Segment
I. Notice Money**	21.08	6.41	5.50-6.47
II. Term Money^@@	1.65	-	6.85-7.25
III. CBLO	0.45	6.50	6.10-6.55
IV. Market Repo	5.70	6.37	6.00-6.45
V. Repo in Corporate Bond	0.00	-	-

RBI OPERATIONS^@
	Auction Date	Tenor (Days)	Maturity Date	Amount Outstanding	Current Rate / Cut off Rate
C. Liquidity Adjustment Facility
(i) Repo (Fixed Rate)	30/08/2018	1	31/08/2018	35.16	6.50
(ii) Repo (Variable rate)	16/08/2018	15	31/08/2018	215.67	6.51
	21/08/2018	14	04/09/2018	129.39	6.51
	24/08/2018	14	07/09/2018	197.67	6.51
	28/08/2018	14	11/09/2018	117.75	6.51
(iii) Reverse Repo (Fixed rate)	30/08/2018	1	31/08/2018	287.77	6.25
(iv) Reverse Repo (Variable rate)	27/08/2018	7	03/09/2018	155.73	6.49
	28/08/2018	7	04/09/2018	69.50	6.49
	29/08/2018	7	05/09/2018	84.22	6.49
	30/08/2018	7	06/09/2018	67.06	6.49
D. Marginal Standing Facility	30/08/2018	1	31/08/2018	0.00	6.75
E. Standing Liquidity Facility Availed from RBI ^$				21.97
RESERVE POSITION ^@
F. Cash Reserves Position of Scheduled Commercial Banks
(i) Cash balances with RBI as on ^#		23/08/2018		4,871.80
(ii) Average daily cash reserve requirement for the fortnight ending		31/08/2018		4,777.36
G. Government of India Surplus Cash Balance Reckoned for Auction as on ^¥		30/08/2018		0.00
^@ Based on RBI / CCIL/ FIMMDA Data
- Not Applicable / No Transaction
** Relates to uncollateralized transactions of 2 to 14 days tenor.
^@@ Relates to uncollateralized transactions of 15 days to one year tenor
# The figure for the cash balances with RBI on Sunday is same as that of the previous day (Saturday).
^$ Includes refinance facilities extended by RBI
^¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015
Ajit Prasad Assistant Adviser
Press Release : 2018-2019/511

from PRESS RELEASES FROM RBI https://ift.tt/2PQkBpH
via

Liquidity Adjustment Facility: Fixed Rate Reverse Repo Operations

The result of the RBI Fixed Rate Reverse Repo Operations held on August 30, 2018 is as under:

Amount (face value in ₹ Billion)
Items		Overnight Reverse Repo Auction 6.25% Fixed Rate
1. Bids received
(i)	Number	71
(ii)	Amount	287.77
2. Bids accepted
(i)	Number	71
(ii)	Amount	287.77

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/510

from PRESS RELEASES FROM RBI https://ift.tt/2osnqR7
via

RBI to conduct 7-day Variable Rate Reverse Repo auction under LAF on August 31, 2018

The Reserve Bank of India will conduct the following Variable Rate Reverse Repo auction on August 31, 2018, Friday, as per the revised guidelines on Term Repo Auctions issued on February 13, 2014.

Sl. No.	Notified Amount (₹ billion)	Tenor (day/s)	Window Timing	Date of Reversal
1.	400	7	2.30 pm to 3.00 pm	September 07, 2018 (Friday)

Successful offers will get accepted at their respective offered rates.

Offers at or above the repo rate will be rejected.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/509

from PRESS RELEASES FROM RBI https://ift.tt/2N5dZFe
via

Term Repo Auctions under Liquidity Adjustment Facility

As announced in the revised Liquidity Management Framework on August 22, 2014, Reserve Bank will conduct regular variable rate 14-day term repos four times during a reporting fortnight. Accordingly, four term repo auctions will be conducted as per the schedule given hereunder:

Sl. No.	Date of Auction	Notified Amount (₹ Billion)	Tenor (days)	Date of Reversal
1	August 31, 2018 (Friday)	230	14	September 14, 2018 (Friday)
2	September 03, 2018 (Monday)	230	15	September 18, 2018 (Tuesday)
3	September 07, 2018 (Friday)	230	14	September 21, 2018 (Friday)
4	September 11, 2018 (Tuesday)	225	14	September 25, 2018 (Tuesday)

The auctions will be conducted as per the revised guidelines issued on February 13, 2014. Successful bidders will get the allotment at their respective bids. As indicated in the ‘Term Repo under Liquidity Adjustment Facility-Operational Guidelines’ dated October 08, 2013, the RBI reserves the right to inject less than the notified amount without assigning any reasons therefor.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/508

from PRESS RELEASES FROM RBI https://ift.tt/2LFR3I3
via

Scheduled Banks’ Statement of Position in India as on Friday, August 17, 2018

(Amount in Billions of ₹)
		SCHEDULED COMMERCIAL BANKS (Including RRBs)			ALL SCHEDULED BANKS
		18-AUG-2017	03-AUG-2018 *	17-AUG-2018 *	18-AUG-2017	03-AUG-2018 *	17-AUG-2018 *
I	LIABILITIES TO THE BKG.SYSTEM (A)
	a) Demand & Time deposits from bks.	1476.51	1470.32	1454.3	1531.28	1517.31	1499.01 **
	b) Borrowings from banks	552.99	657.93	750	553.78	667.24	760.05
	c) Other demand & time liabilities	72.86	111.41	98.27	73.86	112.79	101.97
II	LIABILITIES TO OTHERS (A)
	a) Deposits (other than from banks)	106284.28	115830.97	115111.93	109211.93	118855.69	118113.68
	i) Demand	11037.06	12074.77	11798.22	11316.21	12373.36	12088.64
	ii) Time	95247.23	103756.15	103313.79	97895.72	106482.28	106025.11
	b) Borrowings @	2971.18	3664.29	3508.55	3003.75	3710.1	3554.49
	c) Other demand & time liabilities	4990.02	4888.03	5100.4	5093.74	4979.45	5192.56
III	BORROWINGS FROM R.B.I. (B)	37.1	639.68	693.98	37.1	639.68	694.33
	Against usance bills and / or prom. Notes	0	0	0	0	0	0
IV	CASH	713.34	652.65	665.38	735.2	671.6	683.49
V	BALANCES WITH R.B.I. (B)	4409.8	4784.35	4631.8	4535.19	4908.39	4766.26
VI	ASSETS WITH BANKING SYSTEM
	a) Balances with other banks
	i) In current accounts	110.19	96.35	101.95	131	115.87	121.41
	ii) In other accounts	1648.28	1906.23	1864.24	1815.41	2049.23	2011.82
	b) Money at call & short notice	242.41	219.58	257.47	419.11	372.3	419.12
	c) Advances to banks(i.e. due from bks.)	297.51	376.66	376.36	298.45	396.41	384.34 £
	d) Other assets	210.1	257.34	244.35	280.7	299.76	276.85
VII	INVESTMENTS ( At book value )	33028.59	35009.7	35091.58	33999.83	35952.14	36030.78
	a) Central & State Govt. securities+	33009.89	34982.62	35070.32	33934.33	35873.47	35958.13
	b) Other approved securities	18.69	27.05	21.26	65.5	78.64	72.64
VIII	BANK CREDIT (Excluding Inter Bank Advance)	76811.38	86787.27	86751.29	79234.92	89344.19	89311.57
	a) Loans, cash credits & Overdrafts $	74822.5	84648.4	84634.23	77184.66	87157.9	87147.47
	b) Inland Bills purchased	185.67	199.71	196.17	198.58	216.74	212.65
	c) Inland Bills discounted	1248.07	1354.28	1333.91	1291.21	1377.59	1357.49
	d) Foreign Bills purchased	198.88	235.25	228.44	200.15	237.09	230.19
	e) Foreign Bills discounted	356.26	349.72	358.57	360.32	354.96	363.8

NOTE
*	Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
(A)	Demand and Time Liabilities do not include borrowings of any Scheduled State Co-operative Bank from State Government and any reserve fund deposits maintained with such banks by any co-operative society within the areas of operation of such banks.
**	This excludes deposits of Co-operative Banks with Scheduled State Co-operative Banks. These are included under item II (a).
@	Other than from Reserve Bank, National Bank for Agriculture and Rural Development and Export Import Bank of India.
(B)	The figures relating to Scheduled Commercial Banks' Borrowings in India from Reserve Bank and balances with Reserve Bank are those shown in the statement of affairs of the Reserve Bank. Borrowings against usance bills and/ or promissory notes are under Section 17(4)(c) of the Reserve Bank of India Act, 1934. Following a change in the accounting practise for LAF transactions with effect from July 11, 2014, as per the recommendations of Malegam Committee formed to review the Format of Balance Sheet and the Profit and Loss Account of the Bank, the transactions in case of Repo/ Term Repo/MSF are reflected under "Borrowings from RBI".
£	This excludes advances granted by Scheduled State Co-operative Banks to Co-operative banks. These are included under item VIII (a).
+	Includes Treasury Bills, Treasury Deposits, Treasury Savings Certificates and postal obligations.
$	Includes advances granted by Scheduled Commercial Banks and State Co-operative Banks to Public Food Procurement Agencies (viz. Food Corporation of India, State Government and their agencies under the Food consortium).

Food Credit Outstanding as on
(₹ in Billions)
Date	18-Aug-17	3-Aug-18	17-Aug-18
Scheduled Commercial Banks	543.41	492.28	541.58
State Co-operative Banks	191.47	230.28	230.28

The expression 'Banking System' or 'Banks' means the banks and any other financial institution referred to in sub-clauses (i) to (vi) of clause (d) of the explanation below Section 42(1) of the Reserve Bank of India Act, 1934.

No. of Scheduled Commercial Banks as on Current Fortnight: August 17, 2018: 149

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/507

from PRESS RELEASES FROM RBI https://ift.tt/2ww5SHy
via

Result of the 7-day Variable Rate Reverse Repo Auction held on August 30, 2018

Tenor	7-day
Notified Amount (in ₹ billion)	250.00
Total amount of offers received (in ₹ billion)	67.06
Amount accepted (in ₹ billion)	67.06
Cut off Rate (%)	6.49
Weighted Average Rate (%)	6.49
Partial Acceptance Percentage of offers received at cut off rate	NA

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/506

from PRESS RELEASES FROM RBI https://ift.tt/2Nwq0kb
via

Liquidity Adjustment Facility: Fixed Rate Repo Operations

The result of the RBI Fixed Rate Repo Operations held on August 30, 2018 is as under:

Amount (face value in ₹ Billion)
Items		Overnight Repo Operations 6.50% Fixed Rate
1. Bids received
(i)	Number	5
(ii)	Amount	35.16
2. Bids accepted
(i)	Number	5
(ii)	Amount	35.16

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/505

from PRESS RELEASES FROM RBI https://ift.tt/2wr8OpE
via

Banks to remain open in September first week: Finance Ministry

The Ministry said banks will remain open during the week, observing holidays only on Sunday, September 2, and second Saturday, September 8.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2wqZH8s
via

Banking

PepsiCo India aims to double sales in salty snacks segment

Rolls out Cheetos Ocean Safari to counter rival products bundled with gifts

from The Hindu - Industry https://ift.tt/2Pk8n7G

GoAir to fly global from Oct.

To operate to Male and Phuket from Delhi, Mumbai

from The Hindu - Industry https://ift.tt/2wuokB7

African carrier to add Mahindra’s Airvan 10

Major Blue Air already has the 8-seater

from The Hindu - Industry https://ift.tt/2NykCge

Olympia to set up two mega IT parks in Chennai at ₹720 crore

Plans largest commercial space at erstwhile Exide plant

from The Hindu - Industry https://ift.tt/2C8MpTc

Greaves to acquire stake in Ampere

Greaves Cotton will acquire a majority stake in Coimbatore-based Electric Vehicle company Ampere Vehicles. Hemalatha Annamalai, CEO, Ampere Vehicles,

from The Hindu - Industry https://ift.tt/2wrVgKv

Avendus to roll out first ESG fund

Avendus Capital Public Markets Alternate Strategies, the alternate asset management arm of Avendus Capital, has announced plans to roll out India’s

from The Hindu - Industry https://ift.tt/2wrUQDV

Exporters facing uncertainty due to rupee depreciation: FIEO

Exporters are facing uncertainty due to a continuous depreciation of the domestic currency as they are not able to negotiate properly prices of good

from The Hindu - Industry https://ift.tt/2LF8Oaw

India being considered for ‘aerial’ taxi service: Uber

Running late for a crucial meeting in Gurugram? Imagine hailing an air taxi to fly you from your office in, say, Central Delhi to the meeting locati

from The Hindu - Industry https://ift.tt/2C1pJnR

Natural gas price may be hiked by 14% from Oct

The government may from October raise price of domestic natural gas by over 14%, a move that will translate into higher CNG price and increased cost

from The Hindu - Industry https://ift.tt/2wAdI3Z

Banking

IPPB will offer savings and current accounts with a maximum permitted balance of Rs 1 lakh.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MCSmN6

Banking

With smartphone and biometrics, we can open accounts within a minute, which is in line with the PM’s aim to make India a cashless Digital economy, says Sinha

from Banking/Finance-Industry-The Economic Times https://ift.tt/2N2ckjT

Banking

The authority suspended electronic customer verification services for 13 banks and Aadhaar authentication agencies (AUA) last week after it found them performing dismally on their targets.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NzhGAf

Banking

The National Payments Corporation of India (NPCI) had proposed the interchange fee at 1% of the transaction amount subjected to a maximum of Rs 12 while no fee for transactions up to Rs 100.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NzB1kH

Banking

The three-year third-party insurance will cost Rs 5,286 for cars with engine capacity of less than 1,000 cc, Rs 9,534 (1,000 - 1,500 cc) and Rs 24,305 for cars with engine capacity of 1,500 cc and more.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2N2S2qA

Banking

Home improvement loans are for properties located in Kerala, even if the customer is stationed somewhere else, and will be valid only for loan applications submitted till October 31.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2LErE1x

Banking

The WhatsApp message on bank holidays, which went viral, claimed that banks would remain closed from September 2 to 5 and then from September 8 to 9 for the weekend, a total of six days in the first week of September.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2PPpD5K

Banking

A damning verdict on demonetization hasn’t been Patel’s only assertion of independence this week.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2NzGyHR

‘Trend appears weak for rupee’

‘Sizeable RBI intervention can help avoid panic in market’

from The Hindu - Economy https://ift.tt/2wrtcHm
via

Demonetisation led to more tax compliance: Jaitley

Finance Minister refutes Cong. criticism it was a failure

from The Hindu - Economy https://ift.tt/2wusGHK
via

भास्कर संपादकीय: हिंदुत्व की मदद के लिए समाजवादी सेक्युलर मोर्चा

उत्तर प्रदेश में समाजवादी पार्टी के भीतर फिर कलह शुरू हो गई है और जाहिर है इसका फायदा भाजपा को ही मिलेगा। अपने भतीजे अखिलेश यादव पर अपमान और उपेक्षा का आरोप लगाते हुए शिवपाल यादव ने अमर सिंह की सलाह पर जिस तरह से समाजवादी सेक्युलर मोर्चा बनाया है और उसे समाजवादी पार्टी के भीतर ही सक्रिय रखने और उपेक्षित कार्यकर्ताओं को सक्रिय करने का संकल्प जताया है, उससे न तो समाजवाद को मदद मिलने वाली है और न ही सेक्युलर विचारों को। यह सेक्लूयर मोर्चा सपा और बसपा के बीच होने वाले गठबंधन को कमजोर करने और लोगों का ध्यान उसकी ताकत से हटाकर कमजोरी की ओर खींचने के लिए है। यही कारण है कि शिवपाल ने पहले अमर सिंह और फिर योगी सरकार में मंत्री ओम प्रकाश राजभर व अन्य दो मंत्रियों से मिलकर इस संगठन का एलान किया है।

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

from दैनिक भास्कर https://ift.tt/2wxNHkJ

Demonetization immensely beneficial to Indian Economy and People: Finance Ministry

The larger purpose of demonetization was to move India from a tax non-compliant society to a tax-compliant society, which has been adequately achieved, according to the Finance Ministry.

from India Infoline News Service https://ift.tt/2Nz860b

HCC drops 4% after subsidiary Lavasa enters NCLT proceedings

NCLT has appointed Devendra Prasad as an interim resolution professional under the provisions of the IBC.

from India Infoline News Service https://ift.tt/2BYwtmF

Kirloskar Oil Engines stock declines 4%

The scrip opened at Rs310 and has touched a high and low of Rs310 and Rs297.80, respectively.

from India Infoline News Service https://ift.tt/2LGW7fa

Idea Cellular stock gains after NCLT nod

The company received NCLT approval for Idea-Vodafone merger.

from India Infoline News Service https://ift.tt/2LJqHox

IPPB to start operations with 650 branches

IPPB will offer savings and current accounts with a maximum permitted balance of Rs 1 lakh.

from Banking/Finance-Industry-The Economic Times https://ift.tt/2MCSmN6
via

Government expects India post payments bank to be profitable after 2 years: Communications minister Manoj Sinha

UIDAI cracks down on banks missing targets to update Aadhaar data

RBI to finalise banks' interchange fee for Aadhaar based payments

Irdai makes long-term 3rd-party insurance must; car, bike purchase to cost more from Sep 1

HDFC offers home improvement loans for Kerala flood victims

Son't trust rumours, banks will remain open in first week of September

जम्मू-कश्मीर को खास दर्जा देता है आर्टिकल 35 A; जानिए इसके बारे में सबकुछ

जब भी जम्मू-कश्मीर को लेकर बात होती है तो इसके साथ आर्टिकल 35ए का जिक्र जरूर होता है। इसको लेकर समय-समय पर विवाद और हिंसा होते रहे हैं। राज्य की सियासी पार्टियों के लिए भी यह प्रिय मुद्दा है। सियासी पार्टियां और अलगाववादी केंद्र सरकार को धमकियां दे रहे हैं। सुप्रीम कोर्ट भी इस पर सुनवाई कर रहा है। सवाल ये है कि आखिर इस अनुच्छेद में ऐसा क्या है कि जम्मू-कश्मीर में इसको हटाने का इतना विरोध हो रहा है। अगर ये अनुच्छेद हटाया गया तो इसका क्या होगा या राज्य पर इसका क्या असर पड़ेगा? DainikBhaskar.com आपको इन अहम सवालों के जवाब दे रहा है

आज की ताज़ा ख़बरें पढ़ने के लिए दैनिक भास्कर ऍप डाउनलोड करें

from दैनिक भास्कर https://ift.tt/2KvYXTU

Traders' body wants court to investigate Flipkart's business model

The trade body, which represents 70 million small businesses, had filed a complaint against the ‘malpractices’ of Flipkart with the ED a few months ago.

from SME Sector-Small Biz-The Economic Times https://ift.tt/2wv35zn
via

CAIT files a writ petition against Flipkart

The Confederation of All India Traders (CAIT) has filed a writ petition in the Delhi high court to investigate the business model of online retailer Flipkart.

from SME Sector-Small Biz-The Economic Times https://ift.tt/2PQYYW7
via

India's world-beating growth not enough to end job drought

Holding India back are glacial economic reforms, a fragile banking sector, rigid labor laws and a spotty educational system that imparts limited skills to the 12 million young people who enter the job market each year.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2wtyHoI

Rupee has now breached 71 for the first time

On Friday Rupee breached the 71-mark for the first time against the dollar, hitting a fresh low. The weakening of the rupee over the last few days has been attributed to month-end dollar demand from importers, the pressure being on currencies by Turkish lira and Chinese offshore yuan and rally in crude oil.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2N4ajUs

ITR filing last day today: Guide to avoid penalty

It is very important to pick the correct ITR form while filing the returns. Some of the available forms are ITR 1 (SAHAJ), ITR 2, ITR 3, ITR 4, ITR 4S (SUGAM), ITR 5, ITR 6 and ITR 7. After filing the returns online, taxpayers can quickly e-verify it using 'digital signature certificate' (DSC). For those who don't have a DSC, they can fill the verification form and send it to the tax department's office within 120 days of filing the returns.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2NzYWjZ

You need to pay more for CNG, piped gas from Oct

After petrol and diesel, consumers using CNG (compressed natural gas) and PNG (piped natural gas) will have to pay more from October 1 as the benchmark price for natural gas produced from domestic fields is expected to hit a 28-month high during the routine six-monthly revision.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Pk4hfG

Trump threatens to pull US out of WTO

US Prez Donald Trump has said that if the WTO does not treat US better then he will pull ut of the organisation.The consequences of US withdrawal from the WTO is expected to be greater than Trump's growing trade war with China. US has accused the WTO dispute-settlement system of interfering with US sovereignty, particularly on anti-dumping cases.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2N283gd

Rural India goes for anti-ageing cream

According to consumer insights gathered by rural tech startup StoreKing, international brands like Garuda Foods and Maybelline cosmetics have found their way into markets beyond the cities without companies making significant investments.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ooJpsj

I-T returns surge 60%, cross 5 crore filings

Income-tax returns hit the five crore mark on Thursday evening, a rise of over 60% compared with filings a year ago. The authorities believe that compliance improved on account of persuasion, education of taxpayers, imposition of penalty on missing the Aug 31 deadline along with Nov 2016 demonetization of Rs.500 and Rs.1000 currency notes.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2C0Hm7C

Markets rally ahead of Q1 GDP numbers

Sensex opened just above the 38,700-mark, gaining 14 points. However, soon after the trading started, the gauge extended its gains and was up 120 points at 9.40 am, having regained the 38,800-mark. The broader 50-share NSE Nifty had also regained the psychological mark of 11,700.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2owsmEZ

Demonetisation turned India into tax-compliant society: Jaitley

“Was the invalidation of the non-deposited currency the only object of demonetisation? Certainly not,” Jaitley said in a Facebook post dismissing criticism that demonetisation had not met its objectives. The FM listed the benefits of demonetisation which ranged from higher tax receipts, more money in the system and eventually higher growth.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2op4kvh

Arun Jaitley hits out at note ban critics, says demonetisation fulfilled objective

Jaitley suggested that the 'larger objective' of demonetisation was to make India a tax-compliant society, an exercise which involved the formalisation of the economy and a blow to the black money. The minister noted that in the last two years, income tax returns have increased by 19 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MF3SI4

GST will benefit economy, honest taxpayers: President Kovind

Addressing a group of probationers of the Indian Revenue Service (Customs and Central Excise), he said a nation's tax structure should be just, efficient, honest and equitable. Kovind said the government last year introduced the Goods and Services Tax, the most comprehensive tax reform ever seen by the nation.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2N2C4MR