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India saved Rs-5,000 cr forex post new steel policy
2018-06-10 19:32:15 By KGAC
The rollout of new steel policy saved forex of Rs 5,000 crore since last year while around 24 million tonnes of crude steel capacity was added during past four years, Steel Secretary Aruna Sharma said.India also replaced Japan as the second largest steel producer this year, she said."We are not going to stop here. We all know about the ambitious National Steel Policy...
Read MoreCBDT dedicates fortnight for pending appeal effect – rectification matters
2018-06-10 19:29:42 By KGAC
Redressal of public grievances and taxpayer service is an area of top priority for the CBDT and the Income Tax Department. In this connection, a fortnight from 1st June to 15th June, 2018 has been dedicated for expeditious disposal of pending appeal effect and rectification matters. The Assessing Officers have been directed to accord top priority to such matters and to give special attention to this area of work...
Read MoreSetting up of Asset Reconstruction Company for faster resolution of stressed assets of Public Sector Banks
2018-06-10 19:28:24 By KGAC
A Committee has been formed under the Chairmanship of Shri Sunil Mehta, non-executive chairman of Punjab National Bank to examine the setting up of an Asset Reconstruction Company (ARC) and/or Asset Management Company (AMC) for faster resolution of stressed assets involving multiple Public Sector Banks( PSBs). The Union Finance Minister, Shri Piyush Goyal announced this today , while interacting with the media at Mumbai , after meeting with hea...
Read MoreGross FDI inflows jumped 3.2% in FY18: Suresh Prabhu
2018-06-09 10:32:15 By KGAC
Commerce and industry minister Suresh Prabhu on Friday said gross foreign direct investment (FDI) inflows rose marginally in fiscal year 2017-18, playing down a recent report by the United Nations Conference on Trade and Development (UNCTAD) that showed a dip in inflows in 2017. Prabhu said gross FDI inflows jumped 3.2% in 2017-18 to touch $62 billion, against $60.1 billion a year earlier. Gross...
Read MoreVodafone, Idea name circle heads for merged entity
2018-06-09 10:31:30 By KGAC
Vodafone India Ltd and Idea Cellular Ltd have announced appointment of nine executives each from their teams as circle heads for the merged entity, which is proposed to operate as Vodafone Idea Ltd, a person aware of the development said. The announcement is learnt to have been made by Kumar Mangalam Birla, the non-executive chairman of entity resulting from the Vodafone-Idea merger, in an internal communication to e...
Read MoreGovt weighs new company for faster resolution of bank NPAs
2018-06-09 10:30:48 By KGAC
Interim finance minister Piyush Goyal on Friday announced the formation of a committee that he said will come up with recommendations to set up a mechanism for the speedy resolution of stressed assets in the banking system. “A committee under the chairmanship of Sunil Mehta, non-executive chairman of Punjab National Bank, which over next two weeks will come out with their recommendations over settin...
Read MoreCBDT marks Jun 1-15 for expeditious disposal of pending appeals
2018-06-09 10:28:26 By KGAC
The Central Board of Direct Taxes (CBDT) has dedicated a fortnight beginning June 1 for expeditious disposal of pending appeals and rectification matters. The direct tax body in a statement said the assessing officers have been directed to accord top priority to such matters and to give special attention to this area of work so that grievances arising on this count may be resolved at the earliest....
Read MoreSensex down 137 points in early trade on weak Asian cues
2018-06-09 10:27:58 By KGAC
The BSE Sensex slipped over 137 points to 35,325.98 in early trade today on heavy selling in power, realty, oil & gas and banking stocks amid sustained capital outflows by foreign funds.A deprecating rupee against the dollar also dampened the sentiment.Moreover, decline in Asian stocks after the mixed close on Wal...
Read MoreUS dollar ends higher against rupee
2018-06-09 10:27:29 By KGAC
The US dollar ended higher against the rupee at Rs 67.50/51 per dollar and the pound sterling finished higher at Rs 90.40/42 at the close of the Interbank Foreign Exchange (forex) market here today.Following are the Interbank forex and RBI rates : (In Rs per unit) Unit Interbank RBI Reference US Dollar 67.50/51...
Read MoreGoogle will not develop AI for use in weapons: Pichai
2018-06-09 10:26:38 By KGAC
Google would not be developing artificial intelligence for use in weapons, its CEO Sundar Pichai has said, after facing a backlash over the technology giant's involvement in a Pentagon project.Google recently announced it would discontinue work with the Department of Defense on Project Maven, an artificial intelligence project that analyses imagery and could be used to enhance the efficiency of drone str...
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