Thursday, January 18News That Matters

Breaking News

Jaitley Assures, Government will fully protect public deposits in Finacial Institutions

Jaitley Assures, Government will fully protect public deposits in Finacial Institutions

Breaking News, Business & Corporate
Seeking to allay concerns of depositors over provisions of a draft law, Finance Minister Arun Jaitley today said the government will fully protect public deposits in financial institutions even as he hinted at openness to changes in the proposed FRDI Bill. Jaitley said the government’s massive Rs. 2.11 lakh crore capital infusion plan in banks was to strengthen banks and there was no question of any lender failing. If any such situation arises, the government will “fully protect” the deposits made by customers, the finance minister said here adding that “the government is very clear about it“. Jaitley made the comment to allay concerns with regard to a provision in the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, first introduced in the Lok Sabha in August this year and
Ram Nath Kovind elected as 14th President of India :

Ram Nath Kovind elected as 14th President of India :

Breaking News, India
Ram Nath Kovind has been elected as the new President of India as he secured victory over opposition candidate Meira Kumar to become the 14th President of the country. Announcing the results, Lok Sabha Secretary General and returning officer Anoop Mishra told media in New Delhi that Mr Kovind got 2930 votes valued 7,02,044 and Meira Kumar got 1844 votes valued 3,67,314. Information and Broadcasting Minister Smriti Irani has congratulated Ram Nath Kovind on being elected as the 14th President. In a tweet, Ms Irani said, Mr Kovind's rich experience in public life will enrich the office of President of India. Minister of State for Information and Broadcasting Col Rajyavardhan Singh Rathore has also congratulated Ramnath Kovind. In a tweet, Mr Rathore said, Mr Kovind is a leader...
CPI Inflation falls to lowest record level, IIP at its three months low

CPI Inflation falls to lowest record level, IIP at its three months low

Breaking News, Business & Corporate
Growth in industrial production fell to a three-month low in May while consumer price index (CPI)-based inflation declined below a stipulated floor of 2 per cent in June, providing the Reserve Bank of India leeway to cut the policy interest rate in August. Pulled down by capital goods, consumer durables and manufacturing, and mining, the index of industrial production expanded 1.7 per cent in May, lower than the revised 2.8 per cent rate in April. CPI inflation was down to a record low of 1.5 per cent in June from 2.2 per cent in the previous month. Food items continued to witness deflation amid farmers distress in various parts of the country. The data came when the kharif sowing season is progressing smoothly with even pulses showing a rise in acreage. Economists expect CPI inflation t...
H1-B visa: More Indians in US seek jobs back home as Trump signs order

H1-B visa: More Indians in US seek jobs back home as Trump signs order

Breaking News, World
More Indians living in the US want a job back home after Donald Trump became the president of the world’s largest economy. The number of Indians in the US searching for jobs in India has gone up more than 10-fold between December and March, according to an analysis by consulting firm Deloitte Touche Tohmatsu Pvt Ltd, shared exclusively with Mint. There were approximately 600 US-based Indians seeking jobs in India in December 2016. By the end of March 2017, the number had gone up to approximately 7,000, Deloitte analysis said. This data comes amid a crackdown by the Trump administration on job visas for skilled workers, including software engineers from India. US Citizenship and Immigration Services said employers seeking H-1B work visas—a non-immigrant visa allowing American fi
Vijay Mallya, Who Fled India In 2016, Arrested In London By Scotland Yard

Vijay Mallya, Who Fled India In 2016, Arrested In London By Scotland Yard

Breaking News, India
Business tycoon Vijay Mallya, accused of defaulting on loans worth crores, has been arrested in London and will be produced at a metropolitan court. India had asked the UK to extradite Mr Mallya, who is facing charges of money laundering and faces several arrest warrants. The flamboyant entrepreneur left India last year amid attempts by a group of banks to recover the unpaid loans. New Delhi had cancelled Mr Mallya's passport and asked the UK government to deport him to India. But the foreign ministry was told that India's deportation request was not covered under UK laws that allowed visitors to stay back even if their passport wasn't valid any longer. Mr Mallya, who had launched the now-defunct Kingfisher Airlines that owes over 9,000 crores to various banks, has been charged with ...
BS-III ban: Up to Rs 20K discount on two-wheelers, Rs 50K-1L off on cars as automakers eye clearance sale

BS-III ban: Up to Rs 20K discount on two-wheelers, Rs 50K-1L off on cars as automakers eye clearance sale

Breaking News
There has been a sudden rise in buyers at automobile showrooms after the Supreme Court banned the sale of BS-III vehicles from April 1 in an attempt to reduce vehicular emissions. While the automobile industry cried foul on the sudden ban as there is 8.25 lakh of unsold inventory with automobile makers and dealers, dealerships have tried to push out the inventory at heavy discounts. As per the ruling, even though no BS-III vehicles can be bought after March 31, all vehicles bought until then will be registered even in April. In Rajasthan, there are about 350 dealers who are not panicked by the order. “The companies are offering heavy discounts on two-wheelers and four wheelers, which is from Rs 15,000- Rs 20,000 on two-wheelers and Rs 50,000 to a lakh on four-wheelers,” said Sai Gird
BS-III vehicle ban: 2-wheeler majors Hero, Honda, Bajaj Auto, Suzuki offer discounts up to Rs 22,000

BS-III vehicle ban: 2-wheeler majors Hero, Honda, Bajaj Auto, Suzuki offer discounts up to Rs 22,000

Breaking News
If you are planning to buy a two-wheeler, today is the day. Two-wheeler majors Hero MotoCorp, HMSI, Bajaj Auto and Suzuki Motorcycle are raining discounts to woo buyers for their BS-III models to after the Supreme Court banned sale and registration of such vehicles from 1 April. The discounts on offer are up to Rs 22,000. The aim is to liquidate stocks in one day. With 6.71 lakh two-wheelers, out of over 8 lakh BS-III vehicles impacted by the ban, dealers told PTI the immediate effort is to sell as many units as possible before the deadline by offering "unheard of discounts" in the industry. Honda Motorcycle and Scooter India (HMSI), which had initially offered a flat discount of Rs 10,000 on its BS-III scooters and motorcycles increased it to Rs 22,000 later in the day. The compan...
Government to announce revised allowances as per 7th Pay Commission in April

Government to announce revised allowances as per 7th Pay Commission in April

Breaking News
Central government employees may be in for some good news this April as revised allowances including house rent allowance (HRA) are likely to be announced after April 12, when the ongoing Budget session of Parliament gets over, reports The Financial Express. The panel, headed by the Finance Secretary, will hold its final meeting very soon and is on the verge of giving final touches to the allowances which have been reworked in accordance with the 7th Pay Panel’s recommendations. The panel meeting which took place on Wednesday to mull over the subject lasted for more than three hours. It seems employees in metro cities are in for a bigger cheer as sources suggest that the panel was considering to make HRA a little more generous than the CPC’s award. The panel was mulling HRA of 30 percen
Lok Sabha passes 4 GST Bills; July 1 rollout in sight :

Lok Sabha passes 4 GST Bills; July 1 rollout in sight :

Breaking News
The Lok Sabha on Wednesday passed four crucial legislations to introduce a country-wide Goods and Services Tax (GST) bringing India closer to a unified tax regime. The Lok Sabha passed the Central GST Bill, 2017 (CGST Bill), Integrated GST Bill, 2017 (IGST Bill), Union Territory GST Bill, 2017 (UTGST Bill) and the GST (Compensation to the States) Bill 2017 (The Compensation Bill) after more than eight hours of debate. The passage of the Bills marks a big step forward in India’s plans to rollout GST from July 1.  The fifth law — SGST Bill — will be taken by the state governments through their cabinets to respective state assemblies. “The GST Council is India’s federal decision making authority,” finance minister Arun Jaitley said while replying to the marathon discussion in the Parliamen
Spotify Moving Onto Google Cloud Is A Big

Spotify Moving Onto Google Cloud Is A Big

Breaking News, Uncategorized
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