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IBC an opportunity for asset reconstruction cos: Arun Jaitley

Insolvency and Bankruptcy Code (IBC) and the government’s emphasis on resolution provide opportunity for asset reconstruction companies as stressed assets still have inherent value, Finance Minister Arun Jaitley said. During discussions with Asset Reconstruction Companies (ARCs) and Private Equity firms (PE) today, he said these non-performing assets (NPAs) were essentially ... Read More »

As deadline for filing returns nears, snag hits tax site

NEW DELHI: Two days before the deadline for filing income tax (I-T) returns ends, the online filing system of the tax department developed a technical snag on Saturday affecting taxpayers’ efforts to upload their annual statements. “For the last two hours, the system has stopped functioning. It is showing a glitch. We now have ... Read More »

Railways plans to discontinue providing blankets in some AC trains

NEW DELHI: Faced with criticism that it gives dirty blankets to passengers, the railways is working on a pilot project to discontinue providing them in AC coaches in some trains. Recently, the CAG, in its report tabled in Parliament, criticised the railways on cleanliness and hygiene in trains and stations. On a trial basis, the ... Read More »

Nifty makes history, touches 10,000: Key factors

Equity benchmark NSE Nifty touched the psychological mark of 10,000 for the first time in Tuesday’s opening trade. The broader index opened at 10,010.55, gaining 44.15 points. Here are some of the key points which contributed to the surge: Optimism among investors The policies introduced by the Narendra Modi-government have provided a ... Read More »

Bajaj Auto eyes 26% market share: Report

Bajaj Auto is reportedly planning to increase its market share to 26% from the current 15%. In this regard, the company is taking corrective measures including launch of more than half a dozen products. With the help of new launches under the brands V, Avenger, Dominar and Pulsar Bajaj Auto ... Read More »

Karnataka Bank targets Rs 2,500 crore export credit in FY18

Karnataka Bank aims to achieve an export credit target of Rs 2,500 crore during the current financial year. Besides, the Bank will be proactive in extending all the required banking facilities to the forex sector by giving preferential treatment. Karnataka Bank operates as a private sector bank. Its products and ... Read More »

ITC hikes cigarette prices of three brands

ITC has hiked cigarette prices of its three brands effect from July 18, following GST Council hiked cess to pre-GST level. The company has increased Gold Flake Kings and Classic Rich prices to Rs 300 per 20 pack each, while Navy Cut Filter price increased to Rs 188 per 20 ... Read More »

Nucleus Software extends digitization capability of FinnOne Neo mCollect

Nucleus Software Exports has extended digitization capability of its lending mobility solution (FinnOne Neo mCollect) which can now be used for Unified Payments interface (UPI) based direct fund transfers. With this capability in FinnOne Neo mCollect, the loan collection agents can initiate a UPI based payment request to the customer ... Read More »

Bank of Baroda inks pact with DGS&D

Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM). DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements. The relationship of the bank ... Read More »