finance

Amazon asked for $40 million to let go of its 'right of first refusal': Future Group

Future Group has alleged that ecommerce giant Amazon sought $40 million to drop its right of first refusal to buy the Indian retailer's assets…

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Telecom tariff hike to bring in revenue growth in FY22

Telecom service providers (telcos) are expected to dial in next round of tariff hikes over the next one or two quarters which is likely to drive revenue…

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Only debtors can prompt bankruptcy process in MSMEs case

Only debtors can prompt their own bankruptcy process under the special insolvency resolution framework for micro, small and medium enterprises (MSMEs),…

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GST officers can immediately suspend taxpayer’s registration for significant anomalies in sales return

In a move aimed at curbing tax evasion and safeguarding revenues, GST officers can immediately suspend registration of taxpayers whose sales return…

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RBI sets up panel to suggest steps for strengthening, consolidating UCBs

The Reserve Bank of India (RBI) has set up a committee to draw a vision document for strengthening urban cooperative banks (UCBs) and explore the potential…

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Indian shares set record closing highs as stocks of banks grow

Led by gains in banks as strong corporate earnings raised hopes of a faster economic recovery, Indian shares closed at all-time high today. Domestic…

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Public sector banks sanction 2,23,501 loans under 59-minute loan approval scheme as of Feb 1

As of February 1, 2021, public sector banks (PSBs) have sanctioned 2,23,501 loans under the 59-minute loan approval scheme that was launched by our…

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Govt guarantee for ARC paper likely in bad bank case

To ensure that the ‘bad bank’ mechanism proposed by the Finance minister in her Budget, the Finance Ministry is planning to provide a guarantee against…

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