EDIS Emergency & Disaster Alert
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The Economic Times
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The Economic Times
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The Economic Times
14 days
NEW DELHI: Services sector is likely to attract a higher tax rate of 18 per cent from the current 15 per cent under the Goods and Services Tax (GST) regime, thus making services "slightly" more expensive, Revenue Secretary Hasmukh Adhia has said."Yes, for the services sector the standard rate may move to 18 per cent," Adhia told IANS in an interview here.However, those exempted at present -- like healthcare, education and agriculture -- are likely to remain so."Whatever is in the present exempt list, we will try to continue it. We would recommend this to the Council and it will take a view on it. Most probably they should agree. Our attempt is not to upset too many things in one go," he said.At present, the services sector is taxed at 14 per cent with two additional cesses -- Swachh Bharat Cess and the Krishi Kalyan Cess attracting half a per cent each -- taking the burden to 15 per cent.
The Economic Times
14 days
The Economic Times
15 days
KOLKATA: Overtaking imports, India's steel exports jumped by 102.1 per cent in 2016-17 to 8.24 million tonnes (mt), as compared to 4.07 mt shipped out in the previous financial year (2015-16), according to a Steel Ministry's report. "Export of total finished steel was up by 102.1 per cent in April-March 2016-17 at 8.24 mt over same period of last year. Export in March 2017 at 1.62 mt was up by 363 per cent over March 2016 and grew by 114 per cent over February 2017," said the report of Joint Plant Committee. "Since domestic consumption is not picking up well, steel producers have been given thrust on exports. Such trend is expected in 2017-18 because of brown-field expansion of steel in India. Steel producers, including SAIL, have been drawing up big plans for exports," Institute for Steel Development and Growth's Director General Sushim Banerjee told IANS on Wednesday.
The Economic Times
18 days
"She along with a few members of her delegation arrived at the dargah around 11 a.m. and spent 30 minutes in the premises," Khadim Kamaluddin Chisti told IANS.
The Economic Times
22 days
The Beijing-based company has buried its India growth story after creating much hype last year. However, after the success of other Chinese players like Oppo, Vivo and Levono, all eyes are now on Huawei. The company knows this. After securing a strong global position, Huawei has a renewed strategy for India where its sub-brand Honor is already doing well. "It is never easy to overtake the competition in the top three positions of global leaders. But we at Huawei believe in making things possible. We have set small-term goals and are working towards them to achieve the coveted number one position," Peter Zhai, President-Huawei India Consumer Business Group, told IANS. "We would replicate the same strategy across all our global markets and India is definitely one of the core overseas markets that we would be focusing on," Zhai added. According to the US-based analyst firm Drexel Hamilton, Huawei, currently the world's second-largest Android smartphone manufacturer, will dethrone Samsung to become Apple's main challenger in the years to come.
KyivPost
a month
The Economic Times
a month
The Economic Times
a month
NEW DELHI: Benefits from the merger of five associate banks of the State Bank of India (SBI) into itself, which will come into effect from April 1, will accrue only from the third quarter of 2017-18 as the initial two quarters may see some increase in costs, the country's largest lender has said. "We should start seeing the benefits of the merger after the end of the second quarter," SBI Managing Director Dinesh Kumar Khara told IANS. "There will be some increase in costs of SBI because of the merger as we will relocate people. What I expect is that costs may go up temporarily. But costs will not be the real representative in Q1, where it will merely be the aggregation, or consolidated balance sheet," he said. Khara said the costs are likely to show up in the second quarter as SBI rationalises the regional offices of the associate banks. "But once we start leveraging productivity gains, costs are likely to go down.
The Economic Times
a month
The Economic Times
a month
By Meghna Mittal NEW DELHI: State Bank of India (SBI), which will see five associate banks merge into it on April 1, has decided to shut down almost half the offices of these banks, including the head offices of three of them. This process will start from April 24. "Out of the five head offices of the associate banks, we will retain only two. Three head offices of the associate banks will be unbound along with 27 zonal offices, 81 regional offices and 11 network offices of the associate banks," SBI Managing Director Dinesh Kumar Khara told IANS in an interview. "We will keep their structure in place till April 24 and, post that, we will start dismantling the associate banks' controlling offices, which includes head offices, regional offices, zonal offices and network offices," Khara said. The five associate banks that will merge with SBI are: SBBJ (State Bank of Bikaner and Jaipur), SBM (State Bank of Mysore), SBT (State Bank of Travancore), SBP (State Bank of Patiala) and SBH (State Bank of Hyderabad).
The Economic Times
a month
By Meghna Mittal NEW DELHI: State Bank of India (SBI), which will see five associate banks merge into it on April 1, has decided to shut down almost half the offices of these banks, including the head offices of three of them. This process will start from April 24. "Out of the five head offices of the associate banks, we will retain only two. Three head offices of the associate banks will be unbound along with 27 zonal offices, 81 regional offices and 11 network offices of the associate banks," SBI Managing Director Dinesh Kumar Khara told IANS in an interview. "We will keep their structure in place till April 24 and, post that, we will start dismantling the associate banks' controlling offices, which includes head offices, regional offices, zonal offices and network offices," Khara said. The five associate banks that will merge with SBI are: SBBJ (State Bank of Bikaner and Jaipur), SBM (State Bank of Mysore), SBT (State Bank of Travancore), SBP (State Bank of Patiala) and SBH (State Bank of Hyderabad).
The Economic Times
a month
The Iran Project
2 months
Mathrubhumi In a clear instance of adversity being turned into an opportunity, mango varieties from northern India, which arrive in the market much after those from western and southern India have satiated the appetites of aficionados, could now get a leg-up with the government promoting their export and the first lot could be headed for Iran later this year. When the mango season starts in March, varieties such as alphonso, badami and banganapalle hit the market and they get attractive rates and export opportunities. However, when mangoes from the northern parts arrive by late June and July, there is no demand, which results in poor returns to farmers, Agricultural and Processed Food and Products Export Development Authority (APEDA) Chairman D.K. Singh told IANS. So we have decided to promote these varieties (daseri, chausa, langda) globally and locally.
The Economic Times
2 months
The Economic Times
2 months
Similarly, for rural areas, the penalty for non-maintenance of minimum balance ranges from Rs 20-50 plus service tax, it said. The public sector lender would also renew from April 1, the Rs 50 charge for people carrying out over three cash transactions at its branch within a month. This charge is applicable currently as well. However, there is no upper limit on the amount of cash transacted. "These cash transaction charges at branches are already existing. The same have been renewed for the next financial year from April 1. It is to deter the customers from visiting the branch but the charges are very nominal. As it is, the customer does not need to visit the branch often because we provide 10 free withdrawals in a month from ATMs," a SBI official told IANS.
The Economic Times
2 months
Maximum limit is nil for self but Rs 50,000 per day for third party," according to the list of ICICI Bank transaction charges. Axis Bank said that five transactions or Rs 10 lakh, whichever is earlier, for cash deposits or withdrawals are free. Beyond that Rs 5 per Rs Rs 1,000 or Rs 150, whichever is higher will be applicable for Axis Bank customers. Public sector lender State Bank of India (SBI) said it charges nominal Rs 50 beyond three transactions in a month, though there is no upper limit on the amount of cash transacted. "These charges are already existing. The same have been renewed for the next financial year from April 1. It is to deter the customers from visiting the branch but the charges are very nominal. As it is, the customer does not need to visit the branch often because we provide 10 free withdrawals in a month from ATMs," a SBI official told IANS.
The Economic Times
2 months
The relaunch will be accompanied by some Android-based phones like the Nokia 6 -- to be launched in China on February 26 -- and the Nokia 8, to be showcased at the upcoming Mobile World Congress in Barcelona, which begins on February 27. Are the ever-evolving, 4G-conscious Indian smartphone consumers likely to embrace an upgraded 3310, which is expected to cost a little over Rs 4,000? "We have to understand that, in India, we still have people who don't have a mobile phone. And if Nokia, with its adequate distribution network, is able to tap that near-edge market, the 3310 has the potential to do wonders and become a leading handset," Faisal Kawoosa, Principal Analyst, Telecoms, CyberMedia Research (CMR), told IANS. "There is still enough of India that can consume it. After all, in India, three of the top 20 handsets that are deployed are still from Nokia," Kawoosa added.
The Economic Times
2 months
"The Governor has given appointment to Edapadi K. Palanisamy at 11.30 a.m. Beyond this there is no information now as to the meeting agenda," he told IANS.
The Huffington Post
3 months
The Economic Times
3 months
"Akhilesh has come out of the shadow of his father and uncles (Shivpal Yadav and Ramgopal Yadav)," Dinesh Lal, a businessman in his late 60s, told IANS.
The Economic Times
3 months