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Finance News 

GDP Grows at 7.1% in FY17, Note Ban Arrests Q4 at 6.1%

India’s GDP growth slipped by nearly one percentage point in 2016-17, as official data released on Wednesday indicated that demonetisation slowed the growth in January-March quarter. Data released by the Ministry of Statistics and Programme Implementation show that the Indian economy expanded 7.1% in fiscal year 2016-17, down from 8% in FY 2015-16. Gross Value Added (GVA) showed an even sharper decline from 7.9% (2015-16) to 6.6% (2016-17). GDP growth for the January-March quarter was worse than what many analysts had expected, dropping to 6.1% from 7% in October-November, which…

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जानिए, जीएसटी से क्या हो सकता है सस्ता और क्या महंगा

नई दिल्ली सरकार की योजना वस्तु एवं सेवा कर को 1 जुलाई से लागू करना है। आजादी के बाद का सबसे बड़ा आर्थिक सुधार कहे जाने वाले जीएसटी का उद्देश्य पूरे देश में वस्तुओं और सेवाओं की दर को एक समान रखना है। जानिए, जीएसटी लागू होने से क्या हो सस्ता और महंगा… यह हो सकता है सस्ता – छोटी कारें, एसयूवी, बाइक – पेंट और सीमेंट -मूवी टिकट -बिजली के सामान (पंखे, बल्ब, वाटर हीटर, एयर कूलर) – रोज़मर्रा की ज़रूरत के सामान – रेडीमेड कपड़े लेकिन ये हो…

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Finance News 

Parliament approves Finance Bill 2017

New Delhi, Mar 30 (PTI) Parliament today approved the Finance Bill 2017 after the Lok Sabha rejected five amendments moved to it by the Upper House with regard to curbing more powers to taxmen and a cap on donation by companies to political parties. Winding up the debate on amendments passed by the Rajya Sabha, Finance Minister Arun Jaitley said they cannot be accepted by the government, but invited suggestions from political parties, including the Congress and the BJD, to make electoral funding more clean and transparent. The Lok Sabha…

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GST rates will have no inflationary impact: Jaitley

New Delhi, Mar 29 (PTI) Allaying apprehension of spike in prices of goods and commodities after the roll out of the GST, Finance Minister Arun Jaitley today said the tax rates will be kept at the current levels so as not to have any inflationary impact. Introducing four bills to give effect to the Goods and Services Tax (GST), Jaitley said the legislations will have to be passed by Parliament and one by each of the state assemblies to turn India into one market with a single tax rate. The…

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Infibeam’s subsidiary NSI Infinium Global to acquire DRC for Rs 6 cr

Infibeam’s subsidiary NSI Infinium Global Private Ltd. has signed a binding Memorandum of Association with DRC Systems India Ltd. for the acquisition of DRC with full management control. Infibeam’s subsidiary NSI Infinium Global Private Ltd. has signed a binding Memorandum of Association with DRC Systems India Ltd. for the acquisition of DRC with full management control. It is an all cash deal with Rs 6 crore payment consideration. DRC is engaged in the business of providing software solutions for ERP, enterprise E-commerce & related solutions. They have also been providing…

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HDFC, ICICI, Axis banks will now charge you Rs 150 after 4 free transactions a month

At HDFC, while a transaction of Rs 25,000 from a non-home branch won’t cost you a penny, anything above Rs 25,000 will be charged Rs 5 per thousand or a minimal amount of Rs 150 once and for all. The tax and cess will be applicable on this amount. Banks, including HDFC Bank, ICICI Bank and Axis Bank, from March 1 started levying a minimum charge of Rs 150 per transaction for cash deposits and withdrawals beyond four free transactions in a month. The charges will apply to savings as…

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Finance News 

Bank employees threaten to go on strike on Feb 28

Unions under the aegis of United Forum of Bank Unions have threatened to go on strike on Tuesday (February 28) to press for various demands including accountability of top executives in view of mounting bad loans in the banking sector. The strike is likely to affect operations at public sector banks on Tuesday. Banks, including SBI, PNB and BoB have already informed their customers about the hit that work can take should the strike take place. Private banks like ICICI, HDFC, Axis, Kotak Mahindra will function normally but may have slight…

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Fake Rs 2000 notes of ‘Children Bank of India’ dispensed from SBI ATM in Delhi

At a time when many people are struggling to withdraw cash, a State Bank of India ATM in South Delhi’s Sangam Vihar dispensed fake Rs 2,000 notes. The notes, which could be passed off as genuine at first glance, are replete with errors and seem to be a prank at people’s expense. The notes, dispensed on February 6, read ‘Children Bank of India’ in place of Reserve Bank of India and ‘Guaranteed by the Children’s Government’ in place of Guaranteed by the Central Government. ‘Churan lable’ in place of the…

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India gave ‘fitting reply’ with surgical strike, says President Pranab Mukherjee

The President also said that the demand for One Rank One Pension, pending for 40 years, has finally been fulfilled with “the total financial implications around Rs 11,000 crore”. India gave a “fitting reply” to Pakistan by conducting a surgical strike on terror launch pads in Pakistani territory, President Pranab Mukherjee said on Tuesday. “My government has taken decisive steps to give a fitting reply to the repeated incursions on our territorial integrity and sovereignty,” he told a joint session of Parliament at the start of Budget Session. Video Courtesy:…

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