Business News
Clues by Admin • 9 Dec 2018, Sunday
The United States turned into a net oil exporter last week, breaking almost 75 years of continued dependence on oil imports. The US sold overseas last week a net 211,000 barrels a day of crude and refined products such as gasoline and ... Continue Reading
Read More at Hindustan Times
Clues by Admin • 9 Dec 2018, Sunday
Much like a live Home Shopping Network, Facebook is working on a video feature that will allow the merchants to demonstrate and talk about their items to the audience, LIVE! Buyers will be able to take a screenshot of the ... Continue Reading
Read More at Business Today
Clues by Admin • 9 Dec 2018, Sunday
Public sector lender Punjab National Bank (PNB) has put up for sale two dozen non-performing assets (NPA) to recover dues of over Rs 1,779 crore. These 24 NPA loan accounts are majorly concentrated in Mumbai, Delhi and Kolkata zones of the bank. ... Continue Reading
Read More at Business Today
Clues by Admin • 8 Dec 2018, Saturday
People will soon be able to withdraw cash from ATMs by scanning a QR code on the machine's screen instead of swiping a card, by the means of a Unified Payments Interface (UPI) based solution. AGS Transact Technologies, a ... Continue Reading
Read More at Business Today
Clues by Admin • 8 Dec 2018, Saturday
German auto major Volkswagen Friday announced up to 3 per cent increase in prices of its vehicles across models in India from January 1, 2019. The upward price revision is due to increased input cost and fall in rupee, the company said in ... Continue Reading
Read More at Business Today
Clues by Admin • 8 Dec 2018, Saturday
Private sector lender Kotak Mahindra Bank on Friday in a BSE filing clarified that it had not considered any proposal to sell stake in the bank to Berkshire Hathaway. The clarification came after a media report claimed that Billionaire global ... Continue Reading
Read More at Business Today
Clues by Admin • 8 Dec 2018, Saturday
Axis Bank on Saturday inducted Amitabh Chaudhry as additional director on its board, three weeks ahead of his taking over as the new managing director and CEO of the private sector lender in three weeks’ time. He will replace ... Continue Reading
Read More at Business Today
Clues by Admin • 8 Dec 2018, Saturday
The logo of diversified conglomerate ITC Ltd as well as the name of its chairman Y C Deveshwar was used to open a fake website in an attempt to dupe people, police said on Friday. The IT team of the ... Continue Reading
Read More at The New Indian Express
Clues by Admin • 8 Dec 2018, Saturday
The finance ministry on Saturday said buyers of real estate properties for which completion certificate is issued by competent authorities at the time of sale will not have to pay GST. However, GST is applicable on the sale of under-construction ... Continue Reading
Read More at Livemint
Clues by Admin • 8 Dec 2018, Saturday
India’s current account deficit stood at $19.1 billion or 2.9% of the gross domestic product (GDP) in July-September quarter (Q2FY19) of this fiscal — the deficit stood at 2.4% in the previous quarter and a at a mild 1.1% in the ... Continue Reading
Read More at The Financial Express
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The Noisy News
  • Business News

    Axis Bank inducts Amitabh Chaudhry on its board as additional director

    Axis Bank on Saturday inducted Amitabh Chaudhry as additional director on its board, three weeks ahead of his taking over as the new managing director and CEO of the private sector lender in three weeks’ time. He will replace the outgoing Shikha Sharma who will quit office on December 31 after her term was curtailed by the RBI. Chaudhry, the former MD and CEO of HDFC Standard Life Insurance Company, was in September named the MD and CEO of Axis Bank for a period of three years, with effect from January 1, 2019.

  • Business News

    PNB puts up two dozen NPA accounts for sale to recover Rs 1,179 crore

    Public sector lender Punjab National Bank (PNB) has put up for sale two dozen non-performing assets (NPA) to recover dues of over Rs 1,779 crore. These 24 NPA loan accounts are majorly concentrated in Mumbai, Delhi and Kolkata zones of the bank. The accounts are intended to be sold to ARCs/NBFCs/other banks/FIs. The bids will be received through e-auction on the bank’s website. The last date for evincing interest in these accounts is December 10, PNB said. The e-bidding process will take place on December 21. 

  • Business News

    Free 5 litre petrol: SBI extends offer deadline to December 15

    India’s largest bank by asset size State Bank of India had launched an offer in which a customer can avail up to 5 litre free petrol at any Indian Oil Corporation (IOC) retail outlets. The customer has to buy fuel from Indian Oil Corporation retail outlets and make the payment through BHIM-UPI SBI Pay application. The minimum transaction value should be Rs 100. The offer which was initially valid up until November 23, 2018 has been extended till December 15, 2018. According to SBI, the offer is valid for Indian citizens aged 18 or over, as on April 1, 2018, residing in India only. This offer is applicable for purchase of fuels at any Indian Oil Corporation and Assam Oil Division retail outlets only. 

  • Business News

    No GST on sale of properties with completion certificate

    The finance ministry on Saturday said buyers of real estate properties for which completion certificate is issued by competent authorities at the time of sale will not have to pay GST. However, GST is applicable on the sale of under-construction property or ready-to-move-in flats where completion certificate is not issued at the time of sale. The ministry also asked builders to reduce prices of properties by passing on the benefit of lower GST rate to customers. 

  • Mera Paisa

    No TDS on interest income up to Rs 50,000 in case of senior citizens, clarifies CBDT

    The Central Board of Direct Taxes has clarified that in the case of senior citizens, no TDS (tax deducted at source) is required to be ‘deducted at source’ u/s 194A of the Income Tax Act, where the amount of such income during a financial year doesn’t exceed Rs 50,000 in aggregate. A new Section 80TTB was inserted in the I-T Act in the Budget 2018-19 by FM Arun Jaitley to provide exemption of interest income on deposits with banks and post offices up to Rs 50,000 without TDS under Section 194A. This benefit is also available on interest income from all FDs and recurring deposit schemes.

  • Business News

    People will soon be able to withdraw cash from ATMs using UPI

    People will soon be able to withdraw cash from ATMs by scanning a QR code on the machine's screen instead of swiping a card, by the means of a Unified Payments Interface (UPI) based solution. AGS Transact Technologies, a company which provides ATM services to banks, has developed a system that uses UPI platform to dispense cash from ATMs. The service is currently awaiting approval from the National Payments Corporation of India (NPCI), the report added.

  • Business News

    Kotak Mahindra Bank denies talks with Warren Buffett

    Private sector lender Kotak Mahindra Bank on Friday in a BSE filing clarified that it had not considered any proposal to sell stake in the bank to Berkshire Hathaway. The clarification came after a media report claimed that Billionaire global investor Warren Buffett's Berkshire Hathaway Inc is looking to pick up a 10 percent stake in Kotak Mahindra Bank. The stock rallied 13.86% on media reports to touch an intra-day high of Rs 1345.35.

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