Business News
Clues by Admin • 9 Nov 2018, Friday
The festive month of October 2018 saw the sales of cars, bikes, trucks, buses and two-wheeler sales going up by 11.6% as the Indian automobile industry sold a total of 2,494,426 units last month as compared to 2,162,869 units sold in October 2017. However, Indian ... Continue Reading
Read More at The Financial Express
Clues by Admin • 9 Nov 2018, Friday
Allahabad Bank on Thursday said that the government had infused Rs 3,054 crore into the state-run lender. The government will infuse fresh capital towards contribution of the central government in the preferential allotment of equity shares (special securities/bonds) of the ... Continue Reading
Read More at Livemint
Clues by Admin • 9 Nov 2018, Friday
Speaking on the second anniversary of demonetization, Finance minister Arun Jaitley said on Thursday Mastercard and Visa were losing market share to domestic payments networks like Rupay card and Unified Payment Interface (UPI). Jaitley said in his Facebook post that ... Continue Reading
Read More at Livemint
Clues by Admin • 9 Nov 2018, Friday
Google changed its harassment policies regarding handling of sexual misconduct complaints, promising to be more transparent with how concerns are handled, and provide better support and care to those who raise such issues with the company. The Company hopes to ... Continue Reading
Read More at Livemint
Clues by Admin • 9 Nov 2018, Friday
Tata Consultancy Services Ltd (TCS) on Thursday said it has acquired London-based design firm, W12 Studios, its first acquisition in four years. The acquisition also signifies that TCS is open to acquisitions instead of only building technologies and talent in-house. ... Continue Reading
Read More at Livemint
Clues by Admin • 9 Nov 2018, Friday
Buoyed by falling crude oil prices and RBI’s move to easy liquidity crisis, Foreign institutional investors (FIIs) have returned to a buying spree in the Indian debt market. They have bought nearly $1.26 billion in debt over the last ... Continue Reading
Read More at Livemint
Clues by Admin • 9 Nov 2018, Friday
Out of the 15 newly-listed companies that got listed this fiscal, shares of 10 firms are trading below their IPO price while the remaining five are still trading above the IPO price giving returns of upto 46%. Some of these shares have tumbled ... Continue Reading
Read More at Livemint
Clues by Admin • 3 Oct 2018, Wednesday
Days after the government announced the merger of state-run Bank of Baroda, Vijaya Bank and Dena Bank, the boards of BoB and Vijaya Bank on Saturday gave in-principle approvals for their amalgamation with Dena Bank a move that would create ... Continue Reading
Read More at The Economic Times
Clues by Admin • 3 Oct 2018, Wednesday
The finance ministry expects the GST collections to cross Rs 1 lakh crore in November and December on account of festive season demand and the anti-evasion measures initiated by the revenue department. The GST revenue rose to Rs 94,442 crore in September. ... Continue Reading
Read More at Livemint
Clues by Admin • 3 Oct 2018, Wednesday
Monthly transactions through the unified payments interface (UPI) crossed the 400-million mark for the first time in September, data released by the National Payments Corporation of India (NPCI) showed today. 405.87million UPI transactions amounting to Rs 59,835.36 crore were carried out ... Continue Reading
Read More at Livemint
The Noisy News
  • Business News

    Yes Bank chairman Ashok Chawla resigns over corruption charges

    Ashok Chawla, chairman of Yes Bank Ltd, stepped down from the board on Wednesday after being named in a corruption chargesheet by the Central Bureau of Investigation (CBI) related to the Aircel-Maxis case. Chawla cited personal reasons behind the resignation. He is also the Chairman of the National Stock Exchange of India Ltd. “The bank shall in due course announce the appointment of a chairman, post RBI’s approval,” Yes Bank said. Yes Bank is already trying to find a replacement for CEO Rana Kapoor, whose term has been cut short by RBI.

  • Business News

    Vodafone Idea posts quarterly loss, says to raise Rs 25,000 crore

    Country’s largest telecom operator by subscribers and revenue, Vodafone Idea Ltd posted losses of Rs 4,974 crore for the quarter ended September 2018, its first quarterly results since merger. Revenue from operations was Rs 7,664 crore. The company is looking to raise Rs 25,000 crore capital in which promoters Vodafone Group will chip in Rs11,000 crore and Aditya Birla Group Rs7,250 crore.

  • Business News

    Levi Strauss seeks to raise up to $800 million in IPO: Report

    Levi Strauss & Co., the global US jeans maker, may soon come out with an initial public offering (IPO) in the first quarter of 2019 to raise $600 million to $800 million, CNBC reported. The company is aiming for a valuation of more than $5 billion, according to the report and is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on its IPO plans. Today, the company, which is closely held by descendants of the family of Levi Strauss, sells its apparel across the globe and reported 2017 sales of $4.9 billion.

  • Business News

    CBDT may soon reward honest tax payers!

    The Central Board of Direct Taxation (CBDT), is evaluating a proposal that might reward honest and consistent taxpayers by giving them a priority in availing public services such as airports, railway stations, highway toll plazas, and tax-related works, a tax official told. CBDT even formed a committee to look into the matter. Prime Minister Narendra Modi, during a conference with senior tax officers last year, had urged the department to enhance the taxpayer services and ensure that the honest taxpayers were given due importance. 
     

  • Business News

    Direct tax collections to exceed target in FY19, says CBDT Chairman Sushil Chandra

    Direct tax collection has already crossed Rs 5 lakh crore and will exceed the budgeted target of Rs 11.5 crore set for the current fiscal, CBDT Chairman Sushil Chandra said Wednesday. He further said that so far the I-T department has issued refunds to 2.15 crore assessees amounting to Rs 1.15 lakh crore. This year so far 6.02 crore ITRs have been filed with the Income Tax Department. The number of direct taxpayers was 3.8 crore when the Modi-led government took office in May 2014.

  • Business News

    Flipkart seeks to soothe employee nerves after Binny Bansal's exit

    A day after Binny Bansal stepped down as Group CEO following personal misconduct allegations, various team heads at Flipkart are extensively engaging with staff to address their concerns and queries related to business and operations. However, an independent investigation conducted against Bansal following allegations of "serious personal misconduct” did not find evidence to corroborate the allegations. The investigation was set up after Walmart was approached in July this year by the complainant, a former associate engaged with Flipkart. Walmart had picked up 77% stake in the Bengaluru-based firm for $16 billion.

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