Page 2814 - Economy & Policy News

No proposal of PSB merger under consideration: Govt

To facilitate consolidation in the public sector banking space, the Cabinet in August gave in-principle approval for PSBs to amalgamate through an Alternative Mechanism

Parliament passes Insolvency & Bankruptcy Code Amendment Bill

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 Bill was passed by the Lok Sabha last week

Power tariffs to rise 62-93 paise/kwH from upgraded coal plants: R K Singh

The estimate of tariff increases of up to nearly 20% on average power fees comes amid rising levels of smog in New Delhi and other major cities

Arun Jaitley rules out one GST rate for all items

In India, food items have been placed in zero or the minimum slab while luxury items get taxed more, says Arun Jaitley

Govt employees to get paid leave for blood donation

At present, service rules allow leave for whole blood donation and not apheresis donation

FRDI Bill to protect, enhance depositors' rights: Govt

FRDI Bill does not prohibit the central government from extending support to banks, including PSBs, says Finance Ministry

'Govt's medical stores selling drugs 96% cheaper than branded equivalents'

Mansukh L Mandaviya said: Branded generic medicines are generally sold at higher prices in comparison to their unbranded generic equivalents.

Bulk of NPAs arose out of bank loans given before April 2014: Jaitley

Finance Minister Arun Jaitley made it clear that the government has not written off any bank loan and the liability of the borrowers for repayment of these loans remained.

Trai issues interconnectivity rules; fixes 30-day deadline for inking pacts

The new interconnection regulations will apply to all the service providers offering telecom services in India

Finance Ministry to relaunch GoI bonds with 7.75% rate

At 7.75% interest, the instrument has the highest returns when compared to other fixed-income products

Coal power pace slows: How we're failing to use the electricity we produce

Nearly 40% of the country's coal-based capacity is unused because the core customers -- state-managed distribution companies -- struggle to increase purchases

Setting realistic performance targets key to PSU bank recapitalisation

Targets set during the previous recapitalisation plan were too high, and banks weren't able to achieve them

India's GDP growth at 6.5% in FY18, will accelerate to 7.6% in FY20: HSBC

According to HSBC, once the impact of transient factors wanes, inflation will settle around RBI's 4% target

If you want good services, pay for it: Nitin Gadkari rules out toll waiver

Gadkari said toll collection is common across the world as good roads help motorists save both fuel and time

SBI's Apr-Nov earning from this fine was over 50% of its net profit in H1

1.3 bn of SBI's 4.2 bn savings bank accounts are under the Jan Dhan Yojana or basic savings bank deposits accounts - both of which are exempt from penalty for not maintaining average balance

Govt not closing 8% savings bond, Economic Affairs Secretary clarifies

Recently, a government release had reportedly said that the 8 percent GOI Savings (Taxable) Bonds, 2003 shall cease for subscription with effect from the close of banking business on January 2, 2018

Sushil Modi pitches for error-free e-way bill

Will help authorities track inter-state, intra-state movements of goods that are part of consignments of Rs 50,000 or more

New Year 2018: Four positives for India to look forward to

India's next challenge is to meet the 2030 Sustainable Development Goals on child and neonatal mortality

No charges on debit card transactions up to Rs 2,000: FinMin

MDR would be borne by govt for two years with effect from January 1, 2018 by reimbursing the same to banks

What are shell companies? Govt to lay down guidelines by Jan-end

The task force will lay down specific guidelines to validate the clampdown on shell companies