Economy | The Asian Age

The proposed mobile app would be able to identify the denomination of notes of Mahatma Gandhi Series and Mahatma Gandhi (New) series by capturing the image of the notes placed in front of mobile camera, the RBI said while inviting bids from tech firms to develop the app.

RBI to come out with mobile app for currency notes identification

RBI said identification of banknote denomination is key to successful completion of cash transactions by visually impaired persons.

14 Jul 2019 7:36 PM

According to JM Financial Institutional report, the government's new 'Nal se Jal' scheme, which aims to provide piped water connection to every household by 2024, will likely lead to a massive jump in the investment in water and sanitation. (Photo: Representational)

'Nal se Jal': Water, sanitation may see Rs 6.3L cr investment in next 5 yrs: report

The investments would be made in verticals such as pipes, EPC, water treatment pumps, cement, among others, according to the report.

14 Jul 2019 4:51 PM

The main elements of the retail policy include promoting ease of doing business, licencing, access to funds, direct selling, and hyper-market related matters.

DPIIT to soon float draft national retail policy to seek stakeholders' views

The policy will streamline the retail trade and promote ease of doing business in the retail sector.

14 Jul 2019 12:22 PM

Inflation has come down sharply from a peak of more than 12 per cent in 2013, and was below the RBI 4 per cent target.

June inflation hits eight-month high but rate cut still possible

Core consumer inflation, which strips out food and fuel prices, was estimated at an annual 4.09-4.11 per cent in June.

13 Jul 2019 10:14 AM

Between allies, we can, and we should, solve our differences without using threats, French Finance Minister Bruno Le Maire said. (Photo: Representational))

France adopts pioneering tax on tech giants like Google, Amazon, Facebook & Uber after US threat

Global tax rules should be updated for the digital age, Internet Association's Jordan Haas.

12 Jul 2019 12:51 PM

Finance Minister Nirmala Sitharaman. (Photo: ANI)

Nirmala Sitharaman says tax targets 'absolutely' achievable: report

India expects to rake in 24.6 trillion rupees (USD 358.97 billion) in gross tax revenue in 2019-20.

12 Jul 2019 12:07 PM

An official said that relevant issues for both the countries on trade and commerce would be discussed during the meeting. (Photo: Representational | PTI)

India, US officials to meet Friday to discuss trade issues

A team led by AUSTR for South and Central Asia, Christopher Wilson, will hold the meeting with senior government officials.

11 Jul 2019 7:20 PM

“Since India’s election period has now passed, USTR officials are visiting India for relationship-building with Indian government counterparts,” a USTR spokesperson said. (Photo: Representational | PTI)

India-US trade talks to restart Friday amid few signs of a compromise

US President Donald Trump has been putting pressure on India to do more to open its markets.

11 Jul 2019 4:06 PM

India is the fastest growing major economy in the world right now, says V Muraleedharan.

India attracts USD 64.4 bn FDI in FY19 despite global headwinds: V Muraleedharan

Centre is considering further opening foreign direct investment in aviation, media and other sectors.

11 Jul 2019 9:18 AM

Electronics and Information Technology Minister Ravi Shankar Prasad said that the target for digital transactions for 2018-19 was set at 3,013 crore, and the total digital payments registered were 3,133.58 crore. (Photo: Representational | Pexels)

Over 3,133 cr digital transactions in FY19, positive trend for ongoing fiscal: Prasad

The government has set a target of over 4,000 crore digital transactions in the ongoing financial year.

10 Jul 2019 8:35 PM

Besides, the India-Switzerland tax treaty facilitates receipt of information on request basis for cases under investigation, MoS External Affairs V Muraleedhran said. (Photo: Representational | AP)

India to get Swiss bank details of all Indians from September

The first set in September would be followed by further despatches on a yearly basis, according to Switzerland's FDF.

10 Jul 2019 7:29 PM

The volume purchased will be decided by MMTC later depending on the level of prices received but minimum offers are 24,000 tonnes to 25,000 tonnes. (Representational Image)

MMTC postpones tender to import corn: Traders

The previous tender deadline was Tuesday, July 9. Offers must now remain valid up to July 18.

10 Jul 2019 1:33 PM

Speaking on the concerns of the foreign portfolio investors on the increased surcharge on income tax, K V Subramanian said, "Stock markets often take some time to see some of the bigger messages. I would urge the market participants to look thorough long-term impacts and factor that in."

Govt to take into account risks associated with sovereign bonds: CEA

There is a need to manage the risks associated with overseas sovereign borrowings, said CEA K V Subramanian.

09 Jul 2019 7:45 PM

To encourage digital payments, Sitharaman had also announced to levy 2 per cent TDS on cash withdrawal of more than Rs 1 crore in an year from a bank account. (Photo: Representational | ANI)

PCI says abolishing MDR charges to dry up investment capital, kill revenue source

PCI said digital payments in India have received quite high interest from various investors, both domestic and international.

09 Jul 2019 6:25 PM

Now, for the first time, the government is noting the very, very soft interest rates in overseas markets. So, why would we not do that (borrow from overseas), said Dinesh Kanabar, Chief Executive of the Mumbai-based Dhruva Advisors LLP. (Photo: Representational)

India likely to raise funds from interest-soft overseas markets

Until now, all the government debt has been rupee funded with interest rates of 6-6.25 per cent.

09 Jul 2019 3:31 PM

Indian Stainless Steel Development Association, Jindal Stainless, Jindal Stainless (Hisar) and Jindal Stainless Steelway have filed an application before the directorate alleging dumping of the products from companies of these nations. (Photo: Representational)

India probes alleged dumping of flat rolled steel products from 15 nations

India conducts anti-dumping probes on of applications filed by domestic industry with prima facie evidence of dumping of goods.

09 Jul 2019 2:46 PM

The India sales improved by 4 per cent in H1 2019 making this the third consecutive quarter to record sales improvements, said Knight Frank India Executive Director (North) Mudasir Zaidi. (Photo: Representational)

Housing sales in 8 major cities up 4 pc in Jan-Jun; supply rises by 21 pc: Knight Frank

Supply of new homes rose by 21 per cent to 1.11 lakh units during January-June 2019 from 1.24 lakh units in the year-ago period.

09 Jul 2019 1:04 PM

Retail inflation rose at an annual rate of 3.20 per cent in June, up from 3.05 per cent in May.

Inflation likely rose in June, but below RBI target: report

The fiscal deficit target for this financial year was reduced to 3.3 per cent from 3.4 per cent.

09 Jul 2019 11:59 AM

The effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent.

Govt to soon issue clarification on applicability of surcharge on FPIs: Finmin

FM Sitharaman proposed to increase surcharge from 15 pc to 25 pc on taxable income between Rs 2 cr and Rs 5 cr.

09 Jul 2019 8:30 AM

Aadhaar and PAN would be made interchangeable as announced by Finance Minister Nirmala Sitharaman on Friday.

5 key changes in annual income tax assessment in Budget 2019

Additional income tax deduction of Rs 1.5 lakh on home loans for houses under Rs 45 lakh announced in Budget 2019.

08 Jul 2019 8:32 PM

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