India slaps higher import duties on US products
Indian government slapped higher duties on a number of US import items including apples, almonds, walnuts, diagnostic reagents and certain steel products in retaliation of US tariff hikes.
CIL notifies coal e-auction for cement and steel sectors
Coal India Ltd. recently announced the commencement of the fourth tranche of auction of coal linkages for nonregulated sectors such as cement, steel/sponge iron, aluminium and others.
Rising oil prices to hit private consumption: RBI Governor
Reserve Bank of India (RBI) governor said the recent increase in oil prices could impact private consumption adversely during the meeting of the Monetary Policy Committee (MPC) held earlier this month.
Housing loan upto Rs 35 lakh to be treated as PSL: RBI
Giving an impetus to the low-cost housing segment,RBI stated housing loans of up to Rs 35 lakh, for dwellings costing less than Rs 45 lakh, will be treated as priority sector lending (PSL).
India to defend GSP benefits at USTR
To defend its eligibility for benefits under the Generalized System of Preferences (GSP) programme, India is expected to challenge charges levelled against it by the U.S dairy and medical devices industries before the United States Trade Representative (USTR) office.
A shift from base rate to MCLR proves elusive
The Reserve Bank of India (RBI) is yet to mandate banks to allow customers who signed up for loans in the erstwhile ‘Base Rate’ regime and who are paying higher rates, to shift to the current ‘MCLR’ structure, which is lower than the base rate.
SBI to stop handling Iran oil payments
India’s imports of Iranian oil may be hit from the end of August after the State Bank of India (SBI) informed refiners it would not handle payments for crude from November.
Majority of Indians in lowest wealth group: BCG
A new report shows that 55% of the total wealth in the country is with those having less than $1,00,000 net worth.
Panel to mull ARC for stressed assets
The Union Finance Ministry said a panel headed by Punjab National Bank (PNB) Chairman Sunil Mehta would examine whether banks need to form an asset reconstruction company (ARC) or asset management company (AMC) for faster resolution of stressed assets.
Bringing natural gas in GST likely to be on Council table
The Goods and Services Tax Council is likely to take up the possible inclusion of natural gas in the indirect tax regime during its next meeting, according to a senior of¬ ficial in the Council.