Indian small auto borrowers face pressure due to demonetization: Fitch Rating

Demonetization appears to have had a negative impact on Indian auto-loan repayments, based on collection reports from Fitch-rated securitization transactions. Small auto-loan borrowers have been affected the most, says Fitch Ratings.

According to Fitch Ratings, demonetisation is likely to have had a detrimental effect on the income and cash flows of commercial vehicle operators, which

NPPA slashes prices of 33 essential medicines: Reports

Drug price regulator National Pharmaceutical Pricing Authority (NPPA) has said that it has slashed the prices of around 33 essential medicines, bringing down their retail prices by 30-50 per cent. This includes anti-allergics used for common cold and cough, antibiotics and drugs used to treat ulcerative colitis, arthritis, psoriasis, gastroesophageal reflux disease (Gerd) and tuberculosis.

Infrastructure sector may get a rise in budget allocation: Reports

A report has said that the infrastructure sector's stakeholders expect a rise in budgetary allocation for 2017-18 and tax breaks to reinvigorate the industry.

Commenting on the issue, Vishwas Udgirkar, Partner, Consulting, Deloitte Touche Tohmatsu India told the media, "Over the last few years, the government has been trying to address the impediments to the infrastructure gr

Budget: IT, telecom expect more for cyber security, broadband

With the government's push for digitisation across the board, the IT and telecom players are expecting a Union Budget which will try to strengthen cyber security and make broadband available for all that will in turn catalyse digital payments.

"As India digitalises rapidly, holistic approach to cyber security is a pre-requisite to foster and sustain trust of all the stakehold

Demonetisation not done with elections in mind: Venkaiah Naidu

The Centre's demonetisation move was not taken on electoral considerations and it was ready to face the consequences, Union Minister M. Venkaiah Naidu said on Wednesday.

"We never undertook demonetisation (by) keeping elections in mind," Naidu told women journalists at the Indian Women's Press Corps here.

"It was long overdue... time will tel

India, UAE elevate relationship to Comprehensive Strategic Partnership

India and the UAE on Wednesday elevated their relationship to a Comprehensive Strategic Partnership while signing 14 agreements, including on energy security and defence cooperation, as Prime Minister Narendra Modi described the Gulf nation as "an important partner in India's growth story".

A much anticipated agreement on a joint investment fund, after the United Ar

Concessions should be given to all manufacturers, not just Apple: Experts

As Apple intensifies efforts to manufacture in India amid hectic diplomatic parleys, experts fear that doling out tax concessions to the Cupertino-based company alone will not go down well with several smartphone players.

Many of the companies -- especially from China -- have committed investments as part of the "Make in India" initiative.

The smartphone user base

India`s petroleum products consumption growth strong

The overall petroleum product consumption growth in India from April to December remained strong at 9 per cent despite a slump in diesel as the demand in petcoke emerged stronger, a Jefferies report said on Wednesday.

"Overall product consumption growth in India has remained strong in nine months of FY17 at 9 per cent year-on-year despite slower diesel growth due to strength in m

Note ban will hit property sales by 20-30% this year: Fitch

Disruptions caused by demonetisation and the general caution on the part of buyers will hit property sales in India by at least 20-30 per cent in 2017, Fitch Ratings said in its latest report.

"We expect home prices also to decline this year because demand for residential property has weakened significantly in the fourth quarter of 2016, following the demonetisation of large deno

Government approves land transfer for expansion of Patna airport

The Cabinet has approved the transfer of 11.35 acres of land to Airports Authority of India (AAI), required for expansion of Patna International Airport, by exchanging a similar quantity of Bihar government land. “Cabinet approves exchanging of Airports Authority of India’s land measuring 11.35 acres with equivalent land of Govt.

of Bihar at Jai Prakash Narayan Internation

Approved radiation norms 10 times stricter than global standards: DoT Secy

A top Official has said that the telecom department-prescribed standards for electromagnetic radiation limit for emission from mobile towers are "10 times stricter" than international standards. Commenting on the issue, DoT Secretary J S Deepak told the media, "We are absolutely committed to protecting the health of our citizens.

The standards for electromagnetic radiat

Cabinet okays scheme for promotion of rural housing

In a bid to ease EMI burden by ensuring cheap home loans in rural areas, the Centre has approved 3 per cent interest subsidy on loans of upto Rs 2 lakh for all households which are not covered under Pradhan Mantri Aawas Yojana (Grameen).

"The government is committed in its mission to ensure housing for all by 2022. The interest subvention will not only reduce the equated monthly

Germany to finance long term infrastructure projects in India: Reports

A top German Official has said that Germany is set to finance long-term strategic projects in India particularly in the railway, infrastructure and smart cities sectors as part of efforts to support India's "growth story".

Commenting on the issue, Matthias Machnig, State Secretary, Federal Ministry of Economic Affairs and Energy told the media, "Germany is ready to

Pharma industry asks Government to bring clarity on tax structure

The pharmaceutical industry has said that it has asked the government to bring in more clarity in terms of tax structure and provide incentives on research and development (R&D) as part of its budget wish-list. As per reports, the industry players also want the government to provide a road map towards bringing down corporate income tax down to 25 per cent.

The Indian Drug Manufact

Budget to allocate Rs 1.3 lakh cr to railway projects: Reports

Rating agency, Crisil has said that the upcoming Union Budget could allocate funds to the tune of Rs 1.3-1.4 lakh crore in the railway sector for 2017-18, a move which could help in faster execution of projects in this space.

According to Crisil Research, government's move to reinvigorate Indian Railways offers unprecedented business opportunities worth Rs 6.7 lakh crore in the fi

Capex on rail infrastructure surges over 28%

Plagued by chronic under- investment in the past, Railways has accelerated spending by over 28 per cent, on infrastructure projects in the nine months of the current financial year as against the corresponding period last year.

Expenditure on projects like laying new tracks, doubling and electrification of the network across the country during April-December 2016 has witnessed a signi

Nabard to raise Rs 20k cr for on-lending to cooperative banks

The government has permitted Nabard to raise about Rs 20,000 crore from the market for on-lending to cooperative banks at 4.5 per cent interest with an aim to provide cheaper crop loans to farmers. "In the light of good monsoon and expectation of increased credit demand and in order to boost agricultural production, the farmers need to be supported through cooperative banks, which purvey c

Digital payments: Budget likely to give sops to PoS, micro ATM makers

To promote digital payments, the upcoming budget may offer incentives to companies which manufacture equipment like PoS machines and micro ATMs, said the media report. According to sources, the government may cut or eliminate excise duty on manufacturing of micro ATMs, finger print readers, biometric cards and PIN cards.

Further, import duty may also be reduced on components used in t

CBDT provides on taxation for alternative investment funds

In a major relief to foreign investors, the government clarified that income arising from transfer of unlisted shares by certain categories of alternative investment funds will not be liable for taxation, reported PTI. The Central Board of Direct Taxes (CBDT) said income from transfer of unlisted shares would not be taxed in the case of certain categories of Alternative Investment Funds (AIFs)

MSE interest subsidy can triple indirect taxes: CRISIL

 An interest rate subsidy of Rs 1 crore to micro and small enterprises (MSEs) can generate nearly thrice as much in indirect taxes, create 38 jobs, and also increase revenue and profitability of MSEs in the near-term, an analysis by CRISIL SME Ratings said here on Tuesday.

Putting it in another way, the analysis said: "To create 1 lakh jobs and generate indirect taxes o

IT firm Cyient acquires US-based Certon Software

 IT services firm Cyient Ltd., through its wholly owned subsidiary Cyient Inc., has signed a definitive agreement to acquire 100 per cent shares of US-based Certon Software Inc. in an all-cash transaction.

Incorporated in 2006, Certon is an IP-led innovative provider of full product life-cycle engineering services to companies seeking certification approval for safety-critic

Services sector's role pivotal for India's growth: Minister Nirmala Sitharaman

Commerce and Industry Minister Nirmala Sitharaman on Tuesday said the services sector has become knowledge-driven with an important role to play in the country's economic growth.

"The services sector today is knowledge driven and along with technology has an important role to play in the economic growth," Sitharaman said while addressing the curtain raiser conferenc

IWAI to raise Rs 1,000 cr in FY`17 via issuance of bonds

Inland Waterways Authority of India (IWAI) will raise Rs 1,000 crore in the current fiscal through issuance of bonds to part fund the expansion of country's inland waterways. Chairman Amitabh Verma said that IWAI will raise Rs 1,000 crore from market in February and March 2017 in two tranches of Rs 500 crore each to part fund the expansion of India's inland waterways through government

Sebi to appoint 9th ED from internal candidates

Markets regulator Sebi is expected to appoint ninth executive director (ED) from internal candidates in order to ensure that posts filled with external applicants remain within 50 per cent limit. Under Sebi rule, 50 per cent of the total post of executive directors should be filled in from internal candidates and the remaining 50 per cent are to be recruited from outside the organisation.

Indian ABS escapes demonetization stress tests with bruises, says Ind-Ra

India Ratings and Research (Ind-Ra), a leading rating agency, has said it has seen differential impact of demonetization across asset classes backing ABS transactions. While Commercial Vehicle (CV) and Construction Equipment (CE) loans have been impacted marginally, the impact of demonetisation is more telling on loans backed by rural borrowers such as Tractor and Microfinance loans, said the l