RBI authorises 29 agency banks to accept payments of I-T dues

RBI has authorised 29 agency banks to accept payments of Income Tax dues. In a press release issued from Mumbai on Monday, RBI has appealed tax payers to remit their income tax dues sufficiently in advance of the due date. In order to minimize the hassle, tax payers can also use the facility of online … Read more

Honda Cars India to recall 90210 units of Honda City & Mobilio

Japanese auto major Honda will recall over 90,000 units of its sedan City and multi-purpose vehicle Mobilio in India manufactured between December 2013 to July 2015 to replace fuel return pipe. The recall will affect only the diesel variants of the two models. The company’s Indian arm, Honda Cars India Ltd (HCIL) said that it … Read more

India’s growth to reach 6.3 per cent in 2016

The United Nations today said India will see a gradual growth acceleration with its GDP expected to reach 5.9 per cent this year and 6.3 per cent in 2016. According to the United Nations World Economic Situation and Prospects 2015 report, India’s economy expanded by an estimated 5.4 per cent in 2014, an improvement from … Read more

$15 per hour minimum wage approved in Seattle US

The Seattle City Council unanimously passed an ordinance that would give the city the highest minimum wage in US. Socialist City Council Member Kshama Sawant, who after the council meeting called on the people of America to elect more independent and socialist candidates, said the push for a higher minimum wage is spreading across the … Read more

8 core industries grow by 4.2 % in April

Output of the country’s eight core industries rose by 4.2 per cent in April this year compared to the same month last year. This was boosted by higher electricity, fertiliser and cement production. According to official data released yesterday, the coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity sectors had expanded … Read more

RBI decision to keep interest rates unchanged expected, says Chidambaram

Former Finance Minister P Chidambaram has said that the RBI’s decision to keep interest rates unchanged was expected and the government should build on what has been achieved. He said in a statement that it was natural for the RBI Governor to await the Budget and the stance of the government on fiscal consolidation. Chidambaram, … Read more

RBI keeps policy rates unchanged – SLR slashed by 0.5 pc from 23 pc

The Reserve Bank of India maintained status quo with regard to the key interest rate in its monetary policy review in view of the need to curb inflation, which has remained stubbornly high. RBI decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent. Reserve Bank of … Read more

Special Investigation Team to unearth black money

The Government of India has decided to constitute a Special Investigation Team, SIT, to unearth black money stashed in banks in the foreign countries. Briefing media after first Cabinet meeting by the new government, the Law and Communication Minister Ravi Shankar Prasad said that the team will be headed by former Supreme Court Judge M.B.Shah … Read more

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