FINANCE

GST Bill Passed Finally; Here’s How it Works?

Now that Rajya Sabha on Wednesday passed the GST Bill, following are the answers to various frequently asked questions relating to GST: Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right ...

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RBI Opens On-Tap Bank Licence With Many Riders

The Reserve of Bank of India has announced new guidelines for the so-called on-tap bank licensing, which means those eligible can apply any time without waiting for the open window system followed earlier. This is the third round of RBI’s initiative to rope in NBFCs, most of them microfinance institutions, to enter the mainstream banking arena in view of the ...

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Feed Future India-US Program to be Launched on Monday

A new Agriculture Partnership between US and India to achieve Ever Green Revolution to address Global Food Security that was announced during the State visit of US President Mr. Barak Obama to India in November 2010, has finally took its shape for launch onMonday, July 25, 2016. The Triangular Cooperation to address Food Security Challenges in Africa. This pilot stage ...

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Why Microfinance Sector is Galloping in Numbers and Reach?

The news story in Mint  suggested alarm bells over the rapid growth of microfinance industry in the last three years, not taking into consideration the vital impact of technology on widening the client base and serving them instantly. The rapid IT modernisation has yielded in higher operational efficiency and doubling the number of customers served by each field officer, compared ...

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Raghuram Rajan calls it quits, Swamy’s another win?

RBI governor Raghuram Rajan has finally said that he would not serve the second term, denying the media a joy ride for two more months. In an internal mail to RBI staff, Rajan said he would return to his academic career when his term ends on September 4. “I am an academic and I have always made it clear that ...

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Ujjivan Leads MFI Stocks, Equitas Equally Impressive

Backed by RBI license to start a Small Finance Bank (SFB), Bangalore-based Ujjivan adn Chennai-based Equitas have hit the IPO route this year to make a winning streak in collecting more than expected funds from the public and now they are swaying the markets. Ujjivan Financial Services shares rallied at 20% reaching to Rs 400 on Friday, while its Chennai ...

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Sahulat Microfinance Society Calls for Papers

Sahulat Microfinance Society, New Delhi is organizing an annual workshop called the Participation for Harmonious Development (PHD), to bring together microfinance and every possible initiative being implemented anywhere in the world that would result in the creation of harmony among the participants. The theme for this year mainly focuses on two diverse areas, namely, Crowdfunding and Cooperatives. Topics While papers ...

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Equitas IPO Offer: Some Key Points to Ponder

Equitas, a microfinance institution from Chennai is offering the Initial Public Offer (IPO) from today, Tuesday, April 5, 2016 to raise Rs. 2,200 crore at higher end of issue price band of Rs 110 per share. Equitas has raised Rs 652 crore from 16 anchor investors by selling 5.92 crore equity shares at a price of Rs 110 apiece on ...

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Axis Forex Online, India’s First Online Forex Solution, Launched

Axis Bank has launched ‘Axis Forex Online’ India’s first comprehensive online forex solution to empower customers to transfer money online in more than 100 currencies across 150 countries. In addition to quick online money transaction, Axis Forex Online will also provide door step delivery of forex card and foreign currency cash. Through this initiative, the bank will offer a complete ...

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Vijay Mallya Ready to Pay Rs.4000 Crore to Settle Case

Bangalore-based Vijay Mallya has finally made an offer to provide Rs.4,000 crore to settle the case against Kingfisher Airlines and close it once for all but at half the price, which means the banks have to take a loss of Rs,5000 crore on their books. On Wednesday afternoon, he made the offer in a sealed cover given to SC by ...

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India Business Confidence Falls in March 2016

Indian business sentiment fell for the first time in three months in March 2016 as companies faced lower demand amid rising input prices on the back of the weak rupee, though political atmosphere remained stable after the release of JNU student leaders. The MNI India Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell to 62.7 in ...

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BookMyShow Partners with Uber to Free Pop up of Taxi Ride Offer

BookMyShow, India’s online entertainment ticketing firm, has partnered with Uber, the smartphone app-based taxi-ride provider, to jointly offer movie enthusiasts to book an Uber when they buy their movie tickets on the BookMyShow mobile app. Depending upon the time to their movie show, the users will either get an option to ‘Ride Now’ or to set a reminder to book ...

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World Happiness Day 2016: Why India Among Most Unhappy Nations?

Despite tall claims,either under Congress or BJP rule, India will never be high in terms of Happiness Index that globally sets countries apart based on the happiness of citizens whose value is respected elsewhere. Since there is hardly any concept of human value in a billion plus population of India beset with communal flare and nationalism vs anti-national debates, India ...

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What PM Modi Said at IMF Conference Today?

Addressing the IMF conference in New Delhi, Prime Minister Narendra Modi today said Asian people save more traditionally compared to other parts of the world and the future of world economy belongs to them as they have surplus to invest in rejuvenating the global economy, though IMF quotas do not reflect the global economic realities. Change in quotas is an ...

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15 Key Reform Measures in Indian Budget 2016-17

With its focus on agriculture and farmers’ welfare, mission to provide LPG connection to poor households, a new health protection scheme, increased outlay for infrastructure, Rs. 2.87 Lakh crore Grant in Aid to Gram Panchayats and Municipalities, setting up of 1500 Multi Skill Training Institutes and incentives for jobs creation, the Budget 2016 presented in Lok Sabha today by Union ...

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Jeevan Pramaan- A Hit With 12.5 Lakh Pensioners Going Digital

Jeevan Pramaan that provides pensioners an option to digitally provide Annual Life Certificate to the authorities for continuity of pension instead of presenting himself physically or through a Life Certificate issued by specified authorities every year has hit a high of 12.5 lakh people opting for it since it was rolled out in November 2014. Launched by the Prime Minister ...

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RBI Governor Raghuram Rajan Upbeat on 7th Pay Panel Hikes, Start Ups

RBI Governor Raghuram Rajan has kept policy rate on hold at 6.75 percent on Tuesday, purportedly awaiting the government’s move in the direction when it unveils the Budget 2016-17 later this month. Monetary and Liquidity Measures remained the same as RBI has decided to: * keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.75 per ...

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Vistara Celebrates First Birth Day With More Flights, Promises and Giveaways

One year, One million customers and One grand celebration — is how Vistara, an off-shoot of Tata and Singapore Airlines in India describes its one year accomplishments in the country. Vistara began operations in air travel on January 9, 2015 and plies a fleet of nine new A320 aircraft, operating 307 weekly flights to 12 destinations across the country. Vistara ...

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