Registration for GST enrolment to re-open on June 1

The revenue department said that 60.5 lakh entities have enrolled themselves with the GSTN system and for the remaining tax payers it will reopen for 15 days from June 1, reported PTI.

The process to enrol taxpayers on the Goods and Services Tax Network (GSTN) portal was suspended on April 30. The government intends to roll out the Goods and Services Tax from July 1. "As on April

Falling food prices to help RBI deliver rate cut in August: BofA-ML

A fall in food inflation in May, better monsoon prospects and the ongoing rupee appreciation lowering inflation will help the Reserve Bank to deliver a 0.25 per cent rate cut in August, a BofA-ML report said as per the PTI.

Acknowledging that it is a "contrarian call", analysts at Bank of America Merill Lynch (BofA-ML) said daily data show that food inflation has continued t

India, US discuss maritime cooperation in Asia-Pacific

Top Indian and American officials have exchanged views on maritime developments in the Asia-Pacific and Indian Ocean Region and discussed steps to further strengthen bilateral maritime security cooperation.

They discussed ways to strengthen cooperation during a two-day India-US Maritime Security Dialogue in Rhode Island. The officials reviewed the implementation of decisions taken at

Asian LSI drops for fifth month in a row in April: Moody`s

Moody's Investors Service, a global rating agency, has said that its Asian Liquidity Stress Index (Asian LSI) has fallen for a fifth consecutive month, registering 25.4 per cent in April 2017 from 26.8 per cent in March 2017.

Moody's Asian LSI measures the percentage of high-yield companies with the weakest speculative-grade liquidity score of SGL-4, and increases when specula

Great potential for India Inc. to develop blue economy linkages: Ficci

The Indian industry has great potential to develop 'blue economy' linkages with the Indian Ocean Rim Association (IORA) members, a Ficci study said on Thursday.

"The study highlights the need for a balanced approach, combining imperatives for growth and sustainability. It stresses the value of public-private partnership for generating additional investment and deploy

Preview - Indian retail inflation seen easing in April on lower food prices

By Vivek Mishra

India's inflation likely cooled in April due to lower food prices, but the pullback may not give the Reserve Bank of India enough leeway to ease monetary policy anytime soon, a Reuters poll found.

Consumer price inflation is expected to have remained below the RBI's medium-term target of 4.0 percent for the sixth successive month due to lower base eff

Outrage in Kerala as SBI levies charges on ATM withdrawals

A public outcry erupted in Kerala after the State Bank of India (SBI) announced that charges would be levied on all cash withdrawals from its ATMs from June onward.

The bank's new order states that every time a SBI customer withdraws cash from an ATM a charge of Rs 25 would be levied and charges would also be levied for exchange of old and sullied notes above Rs 5,000.

RBI refuses to shares note ban process details: Reports

The RBI has said that it cannot share the details of the note ban process as it would be detrimental to the country's economic interests. The RBI said that disclosing such details may impede future economic or fiscal policies of Government of India.

As per reports, the Reserve Bank of India (RBI) was asked to provide a copy of the minutes of the meetings held in its office during

NGOs should open account in core banking format: government

The Home Ministry has said that it has asked around 5,845 organisations to open their accounts in banks having core banking facilities and furnish details for real-time access to security agencies in case of any discrepancy.

As per reports, registration of more than 10,000 NGOs have been cancelled and more than 1,300 have been denied a renewal over the last three years for various vio

One third of FDA-approved drugs had safety issues: Study

Safety issues arising for drugs already approved by the US Food and Drug Administration (FDA) appear to be quite common. A new study has found that for drugs approved between 2001 and 2010, nearly one in three had a postmarket safety event.

The study team defined postmarket safety events as those that lead to either withdrawal from the market due to safety concerns, a boxed warni

SoftBank recognises $1.4 bn losses from India investments in 2016-17

Japanese conglomerate SoftBank Group Corp (SBG) on Wednesday recognised losses of $1.4 billion in 2016-17 from its India investments -- Snapdeal and Ola.

"SBG recorded loss from financial instruments of 160,419 million Japanese Yen ($1.4 billion) in its consolidated financial statements for the fiscal year ended March 2017. This mainly resulted from recording a loss as the a

India may receive higher than predicted rainfall this year: IMD

 India may receive ahigher rainfall this year than previously predicted, a top IMD official said on Wednesday citing the weakening of the El Nino phenomenon.

India would see normal monsoon with 96 per cent of rainfall still maintained as the current forecast, and an update could only be known by the first week of June, K.J. Ramesh, Director General of India Meteorological De

` Vijay Mallya`s extradition to take 6 to 9 months more`

The extradition of liquor baron Vijay Mallya, who owes a consortium of Indian banks over Rs 8,000 crore in unpaid loans, is likely to take six to nine months more, a CBI official said on Wednesday.

This time period was indicated to the five member, joint Enforcement Directorate-Central Bureau of Investigation team that went to London for the purpose and has returned after almost

Credit growth plunges to even lower than FY17 level to 4.3%

The new fiscal year began on a sour note for bank credit growth, which slipped to 4.32 per cent in the fortnight to April 28, much lower than the 63-year low level of 5.08 per cent in fiscal 2017, the latest RBI data showed as per the PTI report. In the reporting fortnight, credit grew at an anaemic 4.32 per cent to Rs 75.45 trillion as against the Rs 72.32 trillion in the same period.

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`Real estate, construction top employment generators in April'

The construction and real estate industries are generating employment demand for skilled workforce as the sectors are gearing up for growth following the government's agenda of providing affordable housing to people, a report said as per the PTI.

While the overall talent demand was up by three per cent during April 2017, real estate posted a seven per cent rise in talent demand an

RBI net buys $3.53 bn from spot market in March

The Reserve Bank continued to remain a net buyer of the US currency in March after it bought a net of USD 3.53 billion from the spot market to contain a rising rupee. In the reporting month, the central bank had bought USD 5.02 billion while it sold USD 1.486 billion in the spot market, according to the central bank data.

The Reserve Bank intervenes in the forex market to curb volatil

NSE to effect changes to 5 indices from May 26

Leading bourse NSE has announced changes in five indices including Alpha 50, High Beta 50 and Low Volatility 50 as part of its quarterly review. Nifty 100 Low Volatility 30 and Nifty Midcap Liquid 15 index will also see changes. The changes will become effective from May 26, NSE said in a circular.

Under the changes, Bank of India, Dewan Housing Finance Corporation, Federal Bank, Infi

India, Russia review bilateral cooperation

India and Russia has reviewed their bilateral cooperation in a range of sectors, including civil nuclear, trade and investments, ahead of the annual summit between Prime Minister Narendra Modi and Russian President Vladimir Putin on June 1.

"We decided to take forward our cooperation in civil nuclear, trade and investments among other areas," External Affairs Minister Sushma

US, India have great opportunity build strong partnership: USIBC

A top US Official has said that American companies continue to bet big on India and the world's two largest democratic countries have incredible opportunities to come closer through digitisation.

Commenting on the issue, USIBC chairman and CISCO executive chairman John Chambers told the media, "At a time of global uncertainty, the only constant element that businesses and mar

Task force set up to get reliable, timely data on employment

Following Prime Minister Narendra Modi's directions, the government on Tuesday constituted a task force to recommend solutions to the problem of getting reliable, timely data on employment.

A PMO release said the task force, headed by Vice Chairman, NITI Aayog Arvind Panagriya, will recommend solutions which can be implemented in a time-bound manner.

Noting the governmen

RBI initiates PCA against IDBI Bank

State-owned lender IDBI Bank on Tuesday evening said that Reserve Bank of India (RBI) has initiated a "prompt corrective action" (PCA) Ain view of its high non-performing assets (NPAs) and negative return on assets (RoAs).

"RBI, vide their letter dated May 05, 2017, has initiated PCA for IDBI Bank in view of high NPA and negative RoA," IDBI Bank in a regulatory fil

Nothing new in new norms, NPA resolution to take time: Moody's

Moody's said the new NPA resolution mechanism are broadly the same as the earlier moves and overlooks key constraints on capital, which makes recovery from dud loans a long-drawn affair, reported PTI.

"The measures do not address the lack of capital at the state-owned banks, that has prevented them from writing down non-performing loans to realistic levels. We continue to exp

Government sets up task force to look into jobs data discrepancies

The government has set up a task force headed by Niti Aayog Vice-Chairman Arvind Panagariya to recommend ways to deal with employment data discrepancies and come up with reliable solutions to promote job creation, reported PTI.

"A task force has been created under the chairmanship of the Vice Chairman, NITI Aayog Dr Arvind Panagariya with Labour Secretary M Sathiyavathy, Secretar

RBI extends BBPS deadline by seven months

The Reserve Bank extended the last date for companies undertaking billing business under the Bharat Bill Payment System (BBPS) by seven months to December 31, 2017, reported PTI. "This extension is in view of the difficulties expressed by various entities in meeting the deadline," it added.

The extension applies to those companies wanting to become an agent of an authorised

GST enrolment to restart in a few weeks: finance ministry

The process to enrol taxpayers on the Goods and Services Tax Network (GSTN) portal, which was suspended on April 30, will start again in a few weeks, the revenue department said as per the PTI report.

More than 60 lakh taxpayers enrolled on the GST portal between November 8, 2016 and April 30, 2017. The enrolment process closed with effect from May 1 and the data of all those signed t