Finance

News: Finance Minister Arun Jaitley launched the India Aspiration Fund (IAF) to be set up as a fund of funds under the Small Industries Development Bank of India (SIDBI) in order to boost the startup ecosystem in the country. “India is witnessing a startup revolution and to harness the potential ...

News: Foreign Partners in insurance companies in India will have no final say on decisions pertaining to strategy and produ-cts, as the Insurance Regulatory and Development Authority of India (Irdai) has decided not to give them any additional rights when their they increase their stake from 26 per cent to ...

News: India has so far signed 83 Bilateral Trade and Promotion Agreements (BIPA), of which 72 are in force. Government had decided to come out with a new framework after several multinational firms invoked bilateral investment protection agreements. The model text would be used for renegotiating the BITs and would ...

News: Modi is targeting India’s $10 billion import bill for edible oils, its third-highest overseas spend after oil and gold, and has already been considering buying oilseeds directly from farmers and boosting government support for growing rapeseed, soybeans and peanuts. A successful Indian push into palm cultivation would drag on ...

News: India needs to minimise political interference in public sector banks, as the government announced measures to improve the performance of state-run banks that are struggling with rising bad loans. India’s banking sector has been hobbled by its highest bad-loan ratio in a decade as slower economic expansion hurt companies’ ability to ...

News: The government has cleared 23 foreign direct investment proposals, including that of Catholic Syrian Bank and Bandhan Financial Services, amounting to Rs 10,378.9 crore. The investment proposals were approved after the recommendation for the same by the Foreign Investment Promotion Board (FIPB). FIPB has also cleared an investment proposal of Mylan ...

News: India will increase the import duty on some base metals by 2.5 per cent, according to a list of business on the website of the upper house of parliament. Iron, Copper, Steel, Nickel and Aluminium are among commodities listed as base metals under Chapter 72 of the Central Board ...

News: Finance Ministry has said that a steady 37 per cent growth in indirect tax collections in four months to July reflects that underlying momentum in the economy is improving. Indirect tax revenue jumped over 37 per cent to over Rs 2.1 lakh crore in April-July of the current fiscal ...

News: The Special Investigation Team (SIT) probing black money has approved compounding of offences under the Income-Tax Act for Indians holding accounts in foreign banks, many of whom are facing prosecution for tax evasion and concealment of income. This facility would be extended to foreign account holders who have fully ...

News: The market participant as well as industrialists will be keenly watching the government’s efforts to find a way to get parliamentary approval for the Goods and Services Tax (GST) Bill amid a belligerent opposition. If the Bill is not cleared , there is a high likelihood that market could ...