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19 crore Indian adults do not have bank account: Global Findex Report 2017

2 days ago
Despite having a relatively high account ownership, India claims a large share of the global unbanked population, after China. Over 190 million Indian adults still do not have a bank account.

India to set up natural gas trading hub

Apr 16, 2018
The Union Government plans to set up a natural gas trading hub to boost consumption of natural gas in India. The hub would be used for the trade and supply of natural gas through a market-based mechanism instead of multiple formula driven prices.

Indian economy has recovered from impact of demonetisation, GST: World Bank Report

Apr 16, 2018
India’s growth decelerated during the most of 2016. The withdrawal of currency from circulation (demonetisation) in November 2016 and the introduction of the Goods and Services Tax regime added to the slowdown in the economy.

RBI directs banks to stop services to businesses dealing in virtual currencies

Apr 6, 2018
The Reserve Bank of India has directed all the entities regulated by it including banks to stop providing services to businesses dealing in virtual currencies such as bitcoin, in order to protect consumer interest and check money laundering.

Panel set up to examine tax evasion risks posed by super rich

Apr 6, 2018
The Central Board of Direct Taxes has set up an internal working group to examine the taxation aspects of high net worth individuals (HNWIs). There has been a trend of HNWIs migrating from their country of residence to other jurisdictions, which poses a substantial tax risk, as they may treat themselves as non-residents for taxation purposes.

RBI releases First Bi-monthly Monetary Policy Statement 2018-19

Apr 5, 2018
The retail inflation based on the Consumer Price Index (CPI) fell to 4.44 percent in February 2018 from 5.07 percent in January 2018.

Government launches Digital Initiative for Ease of Export

Apr 4, 2018
Digital initiatives will boost India’s potential for agricultural and food export.

Total subscribers under under Atal Pension Yojana crosses 97 lakh

Apr 3, 2018
The subscriber base of Atal Pension Yojana (APY) stood at 97.05 lakh at the end of the 2017-18 fiscal, a tad lower than the target of 1 crore set by the pension regulator PFRDA.

E-way Bill System rolled out in India

Apr 2, 2018
The Central helpdesk of GST has made special arrangements with 100 agents to answer queries of taxpayers and transporters related to e-way Bills.

Top Cabinet Approvals: 29 March 2018

Mar 29, 2018
The Union Cabinet approved signing of the Memorandum of Understanding (MoU) between India, United Kingdom and Northern Ireland regarding cooperation and Exchange of Information for the purposes of combating international criminality and tackling serious organised crime.

NITI Aayog releases baseline ranking of Aspirational Districts

Mar 29, 2018
The NITI Aayog has launched the baseline ranking for 101 aspirational districts based on 49 indicators across several sectors including health and nutrition, education, agriculture and water resources, financial inclusion, skill development and basic infrastructure.

SEBI accepts most of recommendations of Uday Kotak Committee on Corporate Governance

Mar 29, 2018
One of the major recommendations of the committee was to separate the post of CEO or MD and Chairperson of the listed companies.

EPFO launches portal for pensioners

Mar 28, 2018
The Employees' Provident Fund Organisation has launched a new portal for pensioners, through which EPFO pensioners would be able to the details of pension-related information. The portal will assist users with details such as pension payment order number, payment order details, passbook information and other related information.

India, Hong Kong sign double taxation avoidance agreement

Mar 21, 2018
India and Hong Kong have signed a double taxation avoidance agreement (DTAA) to improve transparency in tax matters and help curb tax evasion and avoidance. The treaty will improve transparency in tax matters and prevent double taxation.

India, ADB sign $120 million loan to improve rail infrastructure

Mar 17, 2018
The Union Government has signed a $120 million loan agreement with the Asian Development Bank for completion of works for double-tracking and electrification of railway tracks along high-density corridors to improve operational efficiency of Indian railways.

US challenges India's export subsidy programmes at WTO

Mar 15, 2018
As per US trade representative, export subsidy programmes harm American workers by creating an uneven playing field on which they must compete.

Insolvency and Bankruptcy Board of India signs MoU with Reserve Bank of India

Mar 13, 2018
The MoU provides for sharing of information between the RBI and the IBBI, subject to the limitations imposed by the applicable laws.

NITI Aayog launches Women Entrepreneurship Platform

Mar 8, 2018
NITI Aayog launched the Women Entrepreneurship Platform (WEP) on March 8, on the occasion of International Women’s day. The initiative is aimed at building a vibrant ecosystem for women across India to help realise their entrepreneurial aspirations, scale-up innovative initiatives and chalk-out sustainable, long-term strategies for their businesses.

Iraq becomes India’s biggest oil supplier

Mar 6, 2018
Iraq has overtaken Saudi Arabia to become India's top crude oil supplier, meeting more than a fifth of the country's oil needs in the current financial year.

Union Cabinet approves setting up of National Financial Reporting Authority

Mar 5, 2018
The NFRA will be established as an independent regulator for enforcement of auditing standards and ensuring the quality of audits to strengthen the independence of audit firms and therefore, enhance investor and public confidence in financial disclosures of companies.

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