Economy News

RBI to completely remove cash withdrawal limits on savings accounts from next month

On Wednesday, the RBI said the limit on cash withdrawals from savings accounts will be completely lifted from March 13.

Feb 8, 2017

Can NBFCs fill the void as banks' appetite to lend deteriorates after NPA woes?

NBFCs have built substantial AUM in the personal loan and housing finance segments, which so far have been the bread and butter for retail banks.

Feb 7, 2017

Kerala to UAE flights: IndiGo's daily flights from Kozhikode, Trivandrum to Sharjah; check new flight schedules

The daily flights from Sharjah to Kozhikode and Muscat to Kozhikode will be introduced on March 20, while the Sharjah to Thiruvananthapuram route will begin from April 8.

Feb 7, 2017

Income-tax department confirms status on bank deposits up to Rs 2.5 lakh during demonetisation

There were fears on whether they would be subject to scrutiny by the I-T department for deposits after demonetisation.

Feb 6, 2017

ELSS could see spike in inflows after slowdown in December 2016

Net inflows into ELSS, which qualify for deduction u/s 80C, dipped after rising from July 2016 to November 2016, reveals Amfi data.

Feb 6, 2017

Govt walks the talk: Imposes 100% penalty for accepting cash above Rs 3 lakh

Finance Minister Arun Jaitley had proposed in the Budget to levy penalty on a person who receives Rs 3 lakh and above.

Feb 5, 2017

RBI to soon issue new Rs 100 notes, so what happens to the old notes?

In the wake of demonetisation, short-supply of Rs 100 notes and near absence of new Rs 500 notes in the market resulted in the general public reluctantly accepting Rs 2,000 note.

Feb 5, 2017

Nasscom demands 50-75 bps rate cut from RBI-MPC to boost credit growth

Industry experts are expecting at least 25 bps rate cut after Arun Jaitley reaffirmed the government's commitment towards fiscal consolidation.

Feb 5, 2017

India's foreign exchange reserves rise for the third straight week

Foreign exchange reserves increase by $783 million to $361.55 billion for the week ended January 27, shows RBI data.

Feb 4, 2017

RBI monetary policy meeting on February 8 crucial after Union Budget 2017

The sixth bi-monthly monetary policy statement of RBI on February 8 will come after Union Budget 2017; comments on demonetisation and rate cut will be key.

Feb 3, 2017

Taxmen to now open up to 10-year-old return files to unearth undisclosed deposits or property

The revenue department has also proposed to make it mandatory for taxpayers to file I-T returns by March end of the assessment year.

Feb 3, 2017

India's imports of Iranian crude oil reach record levels

The easing of Western sanctions on Iran in January last year allowed Indian oil refiners to resume purchasing crude from the country.

Feb 2, 2017

January 2017 car sales: Maruti Suzuki, Hyundai, Toyota, Nissan, Ford post growth

Maruti Suzuki, Hyundai, Nissan, Ford Motors, Tata Motors record increase in January 2017 car sales but Honda reports fall.

Feb 2, 2017

US trade groups press Donald Trump to better economic ties with Modi's India

In a letter, businesses asked the US government to ensure fair play for investors and support Indian efforts that align with US goals.

Feb 2, 2017

Arun Jaitley omits any mention of poll-bound states in budget speech to avoid EC's ire

The EC had warned the government to stay away from announcing any sop aimed at luring voters in UP, Goa, Manipur, Uttarakhand and Punjab.

Feb 1, 2017