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SBI to move RBI to offer fixed-floating rate home-loans

By   /  September 15, 2019  /  Business  /  Comments Off on SBI to move RBI to offer fixed-floating rate home-loans

Leh, Sep. 15 (PTI): The largest lender State Bank of India will be seeking clarifications from the Reserve Bank whether it can offer long-term home loans with fixed rates in the beginning and convert the same into floating rates later, chairman Rajnish Kumar has said.

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Air India posts INR 4,600 cr operating loss in 2018-19; aims operating profit this fiscal

By   /  September 15, 2019  /  Business  /  Comments Off on Air India posts INR 4,600 cr operating loss in 2018-19; aims operating profit this fiscal

New Delhi, Sep. 15. (PTI): Air India posted an operating loss of around INR 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials.

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Aadhaar compulsory for new dealers from January

By   /  September 15, 2019  /  Business  /  Comments Off on Aadhaar compulsory for new dealers from January

Bengaluru, Sep. 15 (IANS): Verification of the unique identification number (Aadhaar) will be compulsory for new dealers from January 2020 to curb malpractices in paying Goods and Services Tax, said GST Network’s group of ministers’ Chairman Sushil Kumar Modi.

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Govt. removes all uncertainties on new export incentives

By   /  September 15, 2019  /  Business  /  Comments Off on Govt. removes all uncertainties on new export incentives

New Delhi, Sep. 15 (IANS): The government has removed all uncertainties with regard to export incentive issues and the latest credit enhancement measures will help the sector march ahead, Director General of Foreign Trade Alok Vardhan Chaturvedi has said.

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Govt announces INR 50,000 cr export incentive scheme

By   /  September 14, 2019  /  Business  /  Comments Off on Govt announces INR 50,000 cr export incentive scheme

New Delhi, Sep. 14 (PTI): Finance Minister Nirmala Sitharaman on Saturday announced a new scheme — Remission of Duties or Taxes on Export Product (RoDTEP) — to incentivise exporters at an estimated cost of INR 50,000 crore to the exchequer. The announcement comes in the backdrop of India’s merchandise exports declining by 6.05 per cent […]

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Govt sets up INR 10,000 cr fund for housing projects

By   /  September 14, 2019  /  Business  /  Comments Off on Govt sets up INR 10,000 cr fund for housing projects

New Delhi, Sep. 14 (IANS): With a focus on completing construction of unfinished units, the government on Saturday opened a special window of INR 10,000 crore fund to provide last mile funding for housing projects which are non-NPA and non-NCLT and are net worth positive in affordable and middle income category. The government will also […]

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GST Council meets next Friday; tax rate cut to hinge on revenue position

By   /  September 14, 2019  /  Business  /  Comments Off on GST Council meets next Friday; tax rate cut to hinge on revenue position

New Delhi, Sep. 14 (PTI): The all-powerful GST Council will at its Goa meeting next week consider demands for reducing taxes on products ranging from cars to biscuits keeping in mind the revenue position as any cut will have a direct impact on earnings of states, a senior government official has said. The GST Council, […]

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US stocks close mixed amid positive data

By   /  September 14, 2019  /  Business  /  Comments Off on US stocks close mixed amid positive data

New York, Sep. 14 (IANS): US stocks closed mixed, as Wall Street digested the latest retail sales that came above market expectations and rebounding consumer sentiment. The Dow Jones Industrial Average increased 37.07 points, or 0.14 per cent, to 27,219.52. The S&P 500 decreased 2.18 points, or 0.07 per cent, to 3,007.39. The Nasdaq Composite […]

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Merged entity of UBI, PNB, OBC to become operational from April 1 next year

By   /  September 14, 2019  /  Business  /  Comments Off on Merged entity of UBI, PNB, OBC to become operational from April 1 next year

Kolkata, Sep. 14 (PTI): The amalgamated entity of United Bank of India (UBI), Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) will come into effect from April 1 next year, a top official said on Saturday. The merged unit, likely to have a new name, will be the second largest bank in the […]

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India’s economic growth rate ‘much weaker’ than expected, says IMF

By   /  September 14, 2019  /  Business  /  Comments Off on India’s economic growth rate ‘much weaker’ than expected, says IMF

Washington, Sep. 14 (PTI): India’s economic growth is “much weaker” than expected, according to the IMF, which attributed it to the corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies. India’s GDP growth rate slipped to 5 per cent in the first quarter of 2019-20, the lowest in over six years, […]

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