Centre will abolish 16 cesses and surcharges on union excise and service tax as it lays down the path for rolling out Goods and Services Tax (GST) from July.

The U.S. government is temporarily barring passengers on certain flights originating in eight other countries from bringing laptops, iPads, cameras and most other electronics in carry-on luggage starting Tuesday. The reason for the ban was not immediately clear. U.S. security officials would not comment. The ban was revealed on Monday in statements from Royal Jordanian … Continue reading “US indefinitely bans electronics on non-stop flights from eight countries”

Government will amend EPF scheme to enable around 4 crore members of retirement fund body EPFO to withdraw up to 90 per cent of their fund for making down payments while buying homes

Five cities across the country with diverse geographical and climatic conditions will be the first to start using plastic bank notes of rs.10 denomination, with the Centre approving a field trial. The notes are considered to be cleaner than paper currency, will last longer and are difficult to counterfeit.

Center today increased dearness allowance and dearness relief to 4% from existing 2% from January 1, 2017, benefiting 48.85 lakh employees and 55.51 lakh pensioners.

The Government of India notified the Specified bank Notes (Cessation of Liabilities) Act, 2017 in the Public interest for the cessation of liabilities on the specified bank notes and the matters connected therewith or incidental thereto.

Reserve Bank of India (RBI) on 13/03/2017 lifted all restrictions on cash withdrawals from savings bank accounts imposed on November 8, 2016 after the withdrawal of Rs 500 and Rs 1,000 notes.

Demonetization is a generations memorable experience and is going to be one of the economic events of our time. Its impact is felt by every Indian citizen. Demonetization affects the economy through the liquidity side. Its effect will be a telling one because nearly 86% of currency value in circulation was withdrawn without replacing bulk … Continue reading “IMPACT OF DEMONETISATION ON MACROECONOMIC”

Affordable houses may soon be exempt from stamp duty, which varies between 4% and 8% of the transaction value

Non-resident Indians (NRIs) their passports to enter Reserve bank of India to exchange their demonetised currency notes. (NRIs) visiting India, especially for a short visit, to their native places are finding it difficult to exchange the demonetised currencies of ₹1,000 and ₹500 notes, as these notes can be exchanged only at RBI offices in Mumbai, … Continue reading “Striving of NRIs in Exchanging demonetised notes”

The railways will soon move towards Aadhaar-based online ticketing system to prevent touts from blocking bulk tickets, end fraudulent bookings and curb cases of impersonation.

Nearly 500 members of various outfits were arrested here today when they attempted to stage a demonstration against Prime Minister Narendra Modi during his visit to unveil a 112-foot Adiyogi face at the Isha Yoga centre. Some black balloons were also released into the air by a section of the protesters as Modi was travelling to the venue near here … Continue reading “Nearly 500 people arrested for staging demo against PM”

The Reserve Bank of India today placed on its website a Working Paper titled ‘Bank Lending and Loan Quality: The Case of India’ under the Reserve Bank of India Working Paper Series. The Paper is co-authored by Pallavi Chavan and Leonardo Gambacorta. The study analyses how non-performing loans (NPLs) of Indian banks behave through the … Continue reading “Bank Lending and Loan Quality: The Case of India”

World Bank in a new report has ranked all BJP ruled states as the best places to do business in India. Telangana and Andhra Pradesh – top the rankings. All other states in the top ten, barring Uttarakhand which occupies the ninth place in the rankings, are ruled by the BJP. The Congress and regional party ruled states seem … Continue reading “BJP ruled states -top the World Bank’s rankings”

The Reserve Bank of India has issued Master Direction for Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016. These Directions shall apply to all deposit taking Non-Banking Financial Companies and systemically important non-deposit taking Non-Banking Financial Companies.