Category archives: Business

Major GST relief for exporters, small traders: Highlights

In the meeting, it was discussed that PAN or Aadhaar Card details would not be required for buying jewellery above Rs 50,000. Here are the other major decisions taken at the meeting: GST on unbranded ayurvedic medicines to reduced from 12% to 5%. Man made yarn was taxed 18%, it has been put in 12% slab, will have effect on textiles. The council will try to implement the e-way bill […]

Have an SBI account? Just a reminder about the rule changes that will impact you from Sunday

If you are an account holder in State Bank of India (SBI), the country’s largest lender, there are a few changes that you need to be aware of. If you haven’t read about them, here they are: 1) Cut in MAB: The bank has decided to treat the metro and urban centres in the same category as far as average minimum account balance (MAB) maintenance is concerned. What this means is […]

Govt's digital payments push may land banks with a Rs 3,800 cr annual hole, says SBI report

The government’s digital payments push, mainly online card payments through PoS machines, may leave already capital starved banks bleed by a whopping Rs 3,800 crore annually, warns a report. After the note-ban last November, the Narendra Modi government has pushed banks into deploying millions of points-of-sale (PoS) machines to encourage online payments. Since then, banks have more than doubled their PoS terminals. The number of PoS terminals post-demonetisation has increased […]

30 items of mass consumption to cost less, GST cess to go up on SUVs, large cars

The GST rates on 30 items of mass consumption were slashed on Saturday while the cess on mid and high-segment cars went up as the Council formed a five-member Committee to sort out technical glitches faced on the return-filing portal while the last date for GSTR 1 has been extended by a month. Briefing the media after the second review meeting post the Goods and Services Tax roll out, Finance […]

Infosys board, chaired by Nandan Nilekani, terms past differences with Narayana Murthy 'unfortunate'

The Board of Infosys On Friday termed as “unfortunate” the past differences with founder NR Narayana Murthy and said it never intended to cause him “personal distress or anguish”. Addressing a press conference after the Board meeting, newly appointed Infosys Chairman Nandan Nilekani said: “The board is focused on bringing complete stability to the company and that it has tasked its Committee of Directors to work with the CEO and […]

Indians are ahead in getting work visas from Canada, beat China

Indians are obtaining Canadian work visas like never before and are beating Chinese nationals in the race. As per the latest statistics, Indians are ahead of China in getting Canadian work visas under Canada’s international mobility programme. From January-June this year, 13,670 Indians obtained work visas and the number was at 8,680 for Chinese. Under the temporary foreign worker programme too, Indians were ahead as under this programme, 2,190 Indians […]

Infosys loses over Rs 22k crore in market value after Sikka quits

Shares of Infosys ended sharply lower by nearly 10 percent on Friday, wiping out Rs 22,519 crore from its market valuation, after Vishal Sikka, the first non- founder CEO of the company, called it quits. The stock slumped 9.60 percent to settle at Rs 923.10 on BSE. During the day, it dived 13.39 percent to Rs 884.40 – its 52-week low level. At NSE, shares of the company plummeted 9.56 […]

Microsoft's New Kaizala App Is What WhatsApp for Business Should Have Been

As Facebook chases business and enterprise customers for its popular instant messaging and voice calling app WhatsApp, Microsoft may have just beaten the social juggernaut to the punch. On Wednesday at an event in New Delhi, the Skype-owner launched Kaizala, a messaging app designed to ‘get work done’ that has already garnered interest from several state governments and businesses in India. A messaging app in 2017 ought to do more […]

Nifty Hits 10,000: Historical Moment For Indian Markets

It is a bull run on Dalal Street and historical moment for India’s most extensively traded exchange. The Nifty has hit the psychologically important 10,000 mark in intra-day trade. Market experts are calling this a symbolic moment and true manifestation of the deep structural changes that are being undertaken by the Government. There is a sense of elation across the investment community and even the common man can feel a sense […]

Reliance offers Jio Phone virtually free: Mukesh Ambani's big disruption could change telecom market completely

Reliance Jio Infocomm’s move to offer a feature phone virtually for free addresses the nearly 50 crore current users of such phones who sit on the fringes of the data revolution sweeping India. The company on Friday announced the launch of such a phone with voice calls for free and unlimited data at Rs 153 per month. There is a refundable security deposit of Rs 1,500 which the user can […]