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Cut rates, reform more to revive economy: IMF’s advice to India Asit Ranjan Mishra, Mint
India should opt for further monetary policy easing and broad-based structural reforms to reverse a cyclical demand slowdown, the International Monetary Fund (IMF) said on Tuesday while slashing its growth projection for the country to 6.1% for the current fiscal from its July forecast of 7%.
Now, Reliance Jio goes after ‘poor’ subscribers of Airtel, Vodafone Idea R Sree Ram & Mobis Philipose, Mint
In the past month, Vodafone Idea Ltd’s shares jumped by 20% twice, in two consecutive trading sessions on both occasions. The first was when the Telecom Regulatory Authority of India suggested it might rethink the abolition of interconnection usage charge (IUC) from January 2020. Then again, last week, in the backdrop of rumours of an increase in tariffs by Reliance Jio Infocomm Ltd.
Mini-Budget after Budget: Govt slashes corp tax rates to boost economy, investments Pioneer
The government on Friday slashed the income tax rate for companies by almost 10 percentage points to 25.17 per cent and offered a lower rate to 17.01 per cent for new manufacturing firms to boost economic growth rate from a six-year low by incentivising investments to help create jobs.
No stressed MSME loan to be declared NPA till March 2020: FM Pioneer
The government on Thursday asked banks not to declare any stressed loan account of MSMEs as NPA till March 2020 and work on recasting their debt. At a press conference after meeting PSU bank heads, Finance Minister Nirmala Sitharaman said there already exists a circular from the Reserve Bank that provides for stressed loan accounts of MSMEs not being declared non-performing assets (NPAs).
Sensex rebounds over 100 points; banking, auto stocks jump Hindu
Domestic equity benchmark BSE Sensex rebounded over 100 points in early session on Friday, driven by by gains banking, auto and IT stocks amid positive domestic and global cues.
Rupee rises 27 paise to 71.07 against USD in early trade Hindu
At the interbank foreign exchange the rupee opened at 71.19, then gained further ground and touched a high of 71.07, registering a rise of 27 paise over its previous close. The rupee appreciated by 27 paise to 71.07 against the US dollar in early trade on Friday as gains in domestic equity market enthused investors.
In liquidity push, PSBs plan ‘loan melas’ in 400 districts Hindu
In a bid to dispel the notion that only the banks have liquidity and it is not flowing to the NBFCs and the customers, Finance Minister Nirmala Sitharaman on Thursday announced that all scheduled banks will hold large gatherings in a total of 400 districts, where customers can come and take any type of loan they want from the banks and the NBFCs partnering with them.
GST Council mulls single rate of 28% on lotteries: Report Money Control
The GST Council is considering a uniform rate of 28 percent for all lotteries, a report in The Times of India said. At present, the goods and services tax (GST) on state lotteries is 12 percent, while those authorised by the state but run by private agencies are taxed at 28 percent.
Much-awaited GST meet on Friday may not give auto sector any succour: Report Mint
India's goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.
Rupee falls sharply against US dollar today as oil prices surge Mint
The Indian rupee today fell sharply against the US dollar as oil prices skyrocketed after drone attacks on Saudi Arabia's oil infrastructure. Other Asian currencies were also weaker against the US dollar. The rupee fell to as much as 71.42 a dollar as compared to its previous close of 70.92. 
Income Tax serves notices to Reliance First Family under Black Money Act Indian Express
The Mumbai unit of the Income Tax Department, after an investigation aided by information received from agencies in several countries, has served notices to members of the Mukesh Ambani family under provisions of the 2015 Black Money Act.
Nifty struggles below 11,000; Yes Bank falls 5%, Titan top gainer Money Control
Drug firm Unichem Laboratories said the US health regulator has concluded inspection of its Roha facility in Maharashra without making any observations. The United States Food and Drug Administration (USFDA) conducted inspection at the company's active pharmaceutical ingredients facility at Roha from September 9-12, 2019.
Final call at September 20 meeting: GST Council may lower levies on auto, biscuits Deepshikha Sikarwar, Economic Times
The Goods and Services Tax (GST) Council could lower levies for sectors such as automobiles, biscuits and other fast-moving consumer goods (FMCG) at its September 20 meeting, said people with knowledge of the matter. It could also discuss raising the lowest slab of 5% to as much as 8%. That could set the ball rolling for a major revamp of GST structure as part of efforts to revive growth, they said.
IIP growth rebounds, retail inflation surges Hindu
Industrial activity rebounded in July to 4.3% on a broad-based recovery across key sectors such as mining, manufacturing and construction, official data released on Thursday showed.
Rakesh Jhunjhunwala, wife Rekha earned Rs 483.75 crore with this stock in just four trading sessions Aseem Thapliyal, Business Today
Ace investor Rakesh Jhunjhunwala and his wife have earned Rs 483.75 crore from their investment in Titan Company stock in the last four trading sessions. Currently, the couple holds Titan  shares worth nearly Rs 6,968.12 crore. Rakesh Jhunjhunwala who held 5.75% stake (5.10 crore shares) in the firm at the end of June quarter is sitting on a profit of Rs 394.74 crore.
Rupee posts biggest single-day gain in 5 months on RBI dividend Mint
The rupee on Tuesday spurted by 54 paise, its biggest single-day gain in more than five months, to close at a one-week high of 71.48 against the US dollar, boosted by positive sentiment over the fiscal situation. The Reserve Bank's decision to transfer a record ?1.76 lakh crore dividend and surplus reserves to the government revived the rupee, forex traders said.
Maruti Suzuki small Diesel cars could be replaced by Cng in India Overdrive
India's largest car manufacturer Maruti Suzuki could be working on replacing its small capacity diesel cars with CNG options.  The company had made an announcement of stopping sale of diesel cars post April 2020. The reason for which was the hike in price due to the BSVI emission norms.
Cabinet to consider relaxing FDI norms in single brand retail, digital media on August 28 Money Control
The Union Cabinet August 28 will consider relaxing foreign direct investment (FDI) norms in several sectors, including single-brand retail and digital media, to attract overseas players, sources said. Other sectors where FDI rules would be eased are coal mining and contract manufacturing.
NITI Aayog for extraordinary steps to deal with economic slowdown Hindu
Niti Aayog vice-chairman Rajiv Kumar says nobody had faced this sort of situation in the last 70 years wherein entire financial system was under threat. Government think tank Niti Aayog on Thursday made a case for extraordinary steps to deal with the unprecedented stress in the financial sector which has resulted in an economic slowdown in the country.
Sensex sinks 587 pts as stimulus hopes fade, ` crashes to 8-month low Pioneer
Equity markets saw a bloodbath on Thursday sinking by 587 points as the Government dashed any hope of a stimulus — something being talked about for a fortnight — to revive the sagging economy. The bears latched on to the news to go for aggressive selling, pushing the index to six-month low. The rupee also continued with its freefall, and ended at 71.81 to a dollar, hitting eight-month low.
Amazon opens its largest campus in the world in Hyderabad Yunus Y Lasania, Mint
Amazon India on Wednesday inaugurated the largest company-owned campus, worldwide, in Hyderabad, the only one outside the US. The e-commerce firm will house more than 15,000 employees out of the over 62,000 members of the India team.
Resolve stressed assets on time in your interest: RBI to banks Economic Times
Reserve Bank deputy governor NS Vishwanathan Tuesday exhorted bankers to ensure timely resolution of stressed assets under the new framework to extract the best value and underlined the need for dealing only in "genuine" cases.
Govt panel suggests 25% corporate tax for all companies: Report Mint
An Indian government panel has recommended cutting the corporate tax rate to 25% from 30% for all companies and scrapping surcharges on tax payments, an official said on Tuesday, part of a major overhaul of the six-decades old tax act.
Corporate tax to be cut gradually, says Nirmala Sitharaman Mint
Finance minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over ?400 crore turnover will be gradually cut to 25%, and the government will support wealth creators. In her maiden Budget last month, she had cut corporate tax for companies with annual turnover of up to ?400 crore to 25% from 30% earlier.
PSU banks complete first round of ideation exercise Money Control
State Bank of India and other public sector lenders on August 18 completed the first round of bottom-up ideation exercise for further streamlining the banking sector to help the nation become a USD 5-trillion economy in five years.
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