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  • 24-May-2017
  • Union Government amends Banking Regulation Act

    Our Union Government has decided to amend the Banking Regulation Act to quicken the settling of Rs 9.64 trillion stressed assets.The amendment will give the Sole authority to intervene in settling bad loans.The banks will start by solving the top 40-50 cases.

     

  • 23-May-2017
  • RBI constitutes Oversight commitee to check bad loans

    RBI has constituted oversight commitee to check the soaring bad loans.It is shocking to know that the bad loans have raised to an amount of 8 lakh crore.The commitee will also give resolutions to manage stressed assets.

  • 22-May-2017
  • Four slab rates of GST-2017

    The four slab rates of GST range from 5%-28% for goods and services.They are 5%,12%,18% and 28% against the single rate of 15%levied on all taxable items.

  • 19-May-2017
  • Union Cabinet announces new GST rates

    Finance minister Arun Jaitely fixed the GST rates and the historic tax reform will be rolled out on July1st.Health care and education will remain exempted from GST reforms. The new GST rates are as follow; Restaurants with turnover of Rs50 lakh or below to face 5%tax and non-ac restaurants at 12%.AC restaurants and those with liquor license to charge 18% GST,5 star hotels to levy 28% and hotels with tariff Rs 1000-2500 to pay 12% rate. Telecom, financial services to attract GST of 18%, 28% tax for race club, betting and cinema halls.5% on Ola and Uber .Consumer staples lowest at 5%.

  • 17-May-2017
  • Operation Clean Money launched by Union Finance Ministry

    Operation Clean Money is a web portal launched by Narendra Modi government to name and shame tax defaulters.The Operation Clean Money portal will also give details of high risk areas like petrol pumps and jewellers to help them increase awareness about tax compliance.

  • UN lowered India's GDP growth forecast by 7.3%

    The UN World Economic Situaton and Prospects lowered the GDP forecast of India from 7.7% in 2016 to 7.3% in 2017.The report cautioned that bad loans were the reason for this .4% dip . At the same time the UN has projected an impressive 7.9% GDP in 2018.

  • 11-May-2017
  • Dena Bank classifies Videocon loan as ‘bad’

    Dena Bank has become the first lender to classify Videocon Industries as a bad loan. With the default on payments, Dena Bank has declared Videocon Industries account as non-performing asset (NPA) in the fourth quarter ended March 2017.

  • Sebi allows investors to buy mutual funds via digital wallet

    Markets regulator Stock Exchange board of India (Sebi) allowed investors to buy mutual fund schemes for up to Rs 50,000 through digital wallets, making it easier for them especially the young generation to purchase these instruments.

  • PM launches integrated case management system of Supreme Court

    Prime Minister Narendra Modi launched the integrated case management system of the Supreme Court in the presence of the Chief Justice of India Jagdish Singh Khehar.

  • 09-May-2017
  • India to grow at 7.7 per cent in 2018-19: IMF

    India's growth is expected to rebound to 7.2 percent in the 2017-18 fiscal and 7.7 percent in 2018-19 after disruptions caused by demonetization, as per the IMF (International Monetary Fund) report.

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