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The recent measures taken by the Reserve Bank of India (RBI) to resolve non performing assets (NPAs) in the banking system under the Insolvency and Bankruptcy Code (IBC) would require banks to take a 60 per cent haircut on their loan assets, ratings agency Crisil said on Monday.

RBI should have cut rates more 'aggressively', say govt officials

Senior officials argue that with low inflation and private investment contracting RBI should have cut rates by 50-75...

3 Aug 2017 6:00 PM IST

Union finance minister Arun Jaitley

Govt drafting central law to deal with chit fund schemes: Jaitley

Chit fund schemes attract investors by offering a meagre 1-1.5 pc interest rate higher than what is given by banks.

3 Aug 2017 4:58 PM IST

The state government was expecting support from the Centre to provide relief to onions farmers, but no assistance has been forthcoming so far.

After tomatoes, onions become dearer as wholesale price soars to Rs...

Maximum wholesale onion prices stood at Rs 9.20/kg in the same period in 2016.

3 Aug 2017 4:31 PM IST

Road Transport and Highways Minister Nitin Gadkari

Govt launches probe into Rs 7.51 crore bribery in NHAI project

Road Transport and Highways Minister Nitin Gadkari says media had reported bribery incidence.

3 Aug 2017 3:33 PM IST

GST Council meeting on tax on tobacco was held through video conference showing the pressure on the government to act on the cigarettes issue.

Farmers seek rollback of additional levy on cigarettes

GST Council in July raised cess on cigarettes to take away an estimated Rs 5,000 cr annual benefits.

3 Aug 2017 2:22 PM IST

Fuels like kerosene, LPG are highly subsidised in India.

Subsidy on kerosene will also go; prices to rise 25 paise every 15...

Govt has asked state-owned oil marketing companies to start implementing phase-out of kerosen subsidy.

3 Aug 2017 2:17 PM IST

Finance Minister Arun Jaitley (Photo: PTI)

Jaitley defends SBI decision to cut saving account interest rate

SBI to cut interest rate on saving accounts with less than Rs 1 cr deposit to 3.5 per cent from 4 per cent.

3 Aug 2017 1:25 PM IST

Prime Minister Narendra Modi (Photo: PTI)

RBI rate cut puts ball in Modi's court to spur India's economic growth

RBI urged the government to speed up private investments to bolster economic growth through policy reforms.

3 Aug 2017 12:12 PM IST

US President Donald Trump and Prime Minister Narendra Modi (Photo: AP)

US chamber explores new business avenues with India after Modi-Trump...

US-India Strategic Partnership Forum also seeks to reset relationship between two largest democracies.

3 Aug 2017 11:32 AM IST

Cisco Executive Chairman John Chambers

India to be a role model, feature among top 3 economic powers:...

John Chambers is the chairman of newly-formed US-India Strategic Partnership Forum and of Cisco.

3 Aug 2017 11:22 AM IST

Over 2 lakh traders have enrolled into the GST network but there are many who still have to finish the formalities.

GST sends services PMI to 45.9 in July as against 53.1 in June

This happened as new indirect tax policy sowed confusion and sent new orders into free fall, survey says.

3 Aug 2017 11:05 AM IST

Defence Minister Arun Jaitley (Photo: PTI)

GST rates may change as Jaitley hints scope for rationalisation of...

Jaitley also said that he was under pressure to change the GST Network which people said was faulty.

3 Aug 2017 10:25 AM IST