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Finance

Infosys Veterans Launch New Age Solution For GST Regime

Bengaluru: Infosys veterans on Tuesday launched GSTSTAR, a comprehensive solution catering to Goods and Services Tax (GST) regime needs of businesses, professionals and large organisations. “It caters to the GST needs of small and big enterprises. Minimum fee will be Rs. 500 per month for the standard on cloud version …

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Finance

Rajdhani, Shatabdi Trains Set For Makeover Under ‘Operation Swarn’

New Delhi: They are the premium trains in India. Rajdhani and Shatabdi Express were started to move people who could afford to pay more for a somewhat luxurious travel. But after years of service, the trains have lost their sheen. The service has deteriorated, the cleanliness is missing, quality of …

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Finance

GST To Lower Overall Tax Burden Over Time, Says RBI Governor

Mumbai: Reserve Bank governor Urjit Patel today said the soon-to-be implemented goods and services tax (GST) will not only create a national market but will also broaden the tax base which in turn will lower the overall taxes in the long-term. “The prudent point is that GST itself is part …

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Finance

RBI Move On Insolvency Proceedings Credit Positive: Moody’s

New Delhi: Moody’s Investors Service on Monday said the initiation of insolvency proceedings on 12 large loan defaulters is credit positive for Indian banks as it will improve their overall asset quality. The Reserve Bank last week said it has identified 12 large loan defaulters who account for 25 per …

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Finance

RBI Governor Cited ‘High Uncertainty’ On Inflation For June 7 Policy Review

Mumbai: Reserve Bank of India Governor Urjit Patel cited “high uncertainty” on inflation while holding the key interest rate for a fourth successive policy review, according to minutes of the June 7 meeting of Monetary Policy Committee released on Wednesday. It was the first time that a Monetary Policy Committee …

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Finance

Mutual Fund Managers Continue To Snap Up Banking Shares

New Delhi: Mutual fund managers continued to be bullish on bank shares, with their allocation to the sector reaching an all time-high of over Rs. 1.44 lakh crore at the end of May, mainly due to cheaper valuations. In comparison, the figure was Rs. 90,014 crore at the end of …

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News Updates

Diageo Buys George Clooney’s Tequila Casamigos For $1 Billion

London: Diageo, the British maker of alcoholic drinks, said Wednesday it had agreed to buy Casamigos, an upscale tequila brand co-founded by Hollywood star George Clooney, in a deal worth up to $1 billion. “This is an exciting opportunity for Diageo to strengthen its participation in the fast growing tequila …

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Finance

Mutual Funds Get 19 Lakh New Investors In 2 Months

New Delhi: Mutual fund houses added close to 19 lakh investor accounts in April-May of 2017-18, taking the total tally to a record 5.72 crore, driven by growing interest from retail and HNI investors alike. This is on top of 77 lakh folios added in the entire past fiscal and …

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News

Asian Stocks Rise As Oil Tries To Claw Up From 10-Month Low

Singapore: Asian stocks advanced on Thursday as oil prices struggled to climb off a 10-month low hit overnight on concerns over a supply glut and falling demand. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.3 percent. Japan’s Nikkei fell 0.1 percent, with shares in auto air bag maker …

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News Updates

Provide Adequate Transaction Details In Passbooks: RBI To Banks

Mumbai: The RBI today asked banks to provide “adequate details” of transactions in the passbooks and statements of accounts so that customers can cross-check them. Earlier, the Reserve Bank had advised them to avoid inscrutable entries in passbooks/statements of account and ensure that brief, intelligible particulars are invariably entered with …

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