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The credit outstanding in housing (including priority sector housing) rose 37.4% annually in July crossing Rs 24.28 lakh crore, according to the RBI. File | Photo Credit: K.V.S. GIRI Bank credit to housing as well as commercial real estate witnessed a nearly 38 per cent annual growth in July, taking the loan outstanding to the…
Read More “Bank credit outstanding to real estate rose to Rs. 28 lakh crore in July: RBI” »
During his visit to India in July this year, President Ranil Wickremesinghe held talks with Adani Group Chairman Gautam Adani, firming up and reviewing the Group’s projects across Sri Lanka’s energy and port sectors. File | Photo Credit: PTI In a cabinet memorandum last month, Sri Lanka’s Energy Minister has sought to convert the agreement…
Read More “Colombo mulls converting Adani power project to a G2G deal: Sri Lankan media ” »
Over centralising manufacturing in China wreaked havoc on global trade and supply chains, and nations have learnt from this, says Arun Kumar, the former Assistant Secretary of Commerce for Global Markets and Director General of U.S. and Foreign Commercial Service in United States President Barack Obama’s Administration. Speaking to The Hindu about his new book…
File photo of Uday Kotak | Photo Credit: Reuters Uday Kotak has resigned as the managing director and chief executive of Kotak Mahindra Bank , the bank said in a stock exchange filing on September 2. Dipak Gupta, currently the joint managing director, will carry out the chief executive duties until Dec. 31, the bank…
Read More “Uday Kotak resigns as CEO of Kotak Mahindra Bank” »
Representational image of crude oil barrels ready to be transported. | Photo Credit: AP The government has cut the windfall profit tax on crude oil produced in the country while the levy on exports of diesel and aviation turbine fuel (ATF) has been hiked, an official notification said. The tax, levied in the form of…
Read More “Windfall profit tax on crude oil cut; levy on diesel, ATF exports hiked” »
Jet fuel price has been hiked by the steepest-ever 14 per cent – the third straight increase New Delhi: Jet fuel or ATF price on Friday was hiked by the steepest-ever 14 per cent – the third straight increase, while the commercial cooking gas rate was cut by Rs 157.5 per cylinder in line with…
Read More “Steepest-Ever 14% Jet Fuel Price Hike, Commercial Cooking Gas Price Cut” »
GST collections grew by 11 per cent to over Rs 1.59 lakh crore in August. New Delhi: GST collections grew by 11 per cent to over Rs 1.59 lakh crore in August on the back of improved compliance and reduced evasion, with experts forecasting higher mop-up to continue in the upcoming festive season. The gross…
Read More “GST Collection Surges 11% To Rs 1.59 Lakh Crore In August” »
File photo of Naresh Goyal. | Photo Credit: PTI The Enforcement Directorate on September 1 arrested Jet Airways (India) Limited’s founder chairman Naresh Jagdishrai Goyal, in connection with an alleged loan fraud involving about ₹538.62 crore of the Canara Bank. Mr. Goyal had been summoned to the ED’s Mumbai office for recording his statement. He…
Read More “ED arrests Jet Airways founder Naresh Goyal in bank fraud case” »
According to government data, retail inflation rose to a 15-month high of 7.44 per cent in July. Indore: Reserve Bank governor Shaktikanta Das on Friday said the central bank expects retail inflation to start declining from this month. He was referring to the central government’s steps to check prices of vegetables like tomatoes, restrictions on…
Read More “Retail Inflation Expected To Come Down From This Month: RBI Chief Shaktikanta Das” »
Photo used for representation purpose only. India’s gross GST revenues grew 10.76% in August to hit a three-month low of ₹1,59,069 crore, with revenues from domestic transactions and services imports rising 14% and goods imports yielding 3% more taxes. The revenue growth was just marginally lower than the 10.8% uptick in July, which was the…
Read More “GST revenues in August hit three-month low at ₹1.59 lakh crore” »
