Industry meets government, presents wishlist, gets snubbed
Representatives of the Indian industry led by industry body Federation of Indian Chambers of Commerce and Industry (FICCI) met the Revenue Secretary today at a prebudget meeting where the industry predictably pitched for reducing the effective rate of corporate tax and increasing income tax exemption limits.
SBI cuts rates for third time in 40 days
State Bank of India, or SBI has cut its deposit rates by around 2550 bps across all maturities. A sixmonth deposit will now fetch 5.5%, while a oneyear deposit will fetch 7.25% versus the 7.5% earlier. And, the much advertised 1,000day deposit will earn 7.75% versus the 8% currently.
State Bank of India revises deposit rates by up to 50 bps
State Bank of India has revised the Deposit rates downwards by up to 50 bps in various maturities effective from 18th May 2009.
Sensex ends down 138 points at 12,020
The Sensex finally ended with a loss of 138 points at 12,020. The Nifty lost 46 points to close at 3,635.
What does Obama’s tax proposal mean for India?
On May 4, US President Barack Obama announced a proposal to rework America’s tax code. How will these plans impact India?
Court rejects Raju brothers’ bail plea
The remand of Satyam founder B Ramalinga Raju and seven others was extended by 14 days by a local court in Hyderabad on Wednesday.
Tea sector bullish due to poor supply: Harrisons Malayalam
Pankaj Kapoor, MD, Harrison Malayalam, said the tea industry is looking up for two reasons. One is that we are starting with a very low inventory and the other reason is since the last couple of months, starting from NovemberDecember onwards there have hardly been any rains, both in North India, North East as well as in Southern India, he said.
NRI remittances up 20-fold at $4 bn
These include inflows through foreign currency non-resident-banks, NRE rupee accounts & non-resident ordinary deposit schemes. Easy remittances | NRE/ NRO A/c
NRI remittances up 20-fold at $4 billion
NRI remittances up 20-fold at $4 billionThese include inflows through foreign currency non-resident-banks, NRE rupee accounts & non-resident ordinary deposit schemes. Easy remittances | NRE/ NRO A/c
Max India raises Rs 150 crore through shares
Analjit Singh owned insurance and healthcare company Max India is raising Rs 150 crore through a preferential allotment of shares to In-ternational Finance Corporation (IFC), the private sector investment arm of World Bank.