Quantcast
Business

Business

Rs 62,000 Crore GST Evasion Detected

BY SHRIMI CHOUDHARY Tax authorities have detected Rs 62,000 crore (Rs 620 billion) worth of goods and services tax (GST) evasion (or frauds) using fake invoices...

Ex-ICICI Bank CEO Chanda Kochhar, husband Deepak arrested

Agencies The CBI on Friday arrested former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in connection with alleged cheating and irregularities...

PAN to be invalid if not linked with Aadhaar by March 2023

Age ncies The Income Tax department Saturday issued an advisory that those permanent account numbers (PAN) which are not linked with Aadhaar by the end...

Forex reserves decline by $571 mn to $563.5 bn

Agencies After rising for five consecutive weeks, India’s forex kitty dropped $571 million to $563.5 billion for the week ended December 16, according to RBI...

Panagariya warns against cutting trade ties with China

Age ncies Amid demands for snapping trade ties with China for its transgressions on the border, former Niti Aayog vice chairman Arvind Panagariya has opined...

‘Cybercrime has surpassed drug trafficking’

Age ncies Financial institutions are 300 times more vulnerable to cyberattacks than any other industry and the cost of remediating a cyberattack is 40 per...

In a U-turn, outstanding NRI deposits rise in October

Age ncies Breaking the streak of continuous fall in outstanding amounts, non-resident Indian (NRI) deposits rose for the first time in the financial year to $134.54...

Toy story: India is fast closing the gap with China

AGENCIES Although India’s share in the world toy trade has marginally improved, it still lags behind China’s. Toys are not China’s main item of export, but...

Mobile user base dips for 2nd straight month, shrinks by 1.82 million

Agencies The number of mobile phone users in India decreased by 1.82 million in October to 1.14 billion, latest data released by the Telecom Regulatory Authority...

India exported goods worth $280 mn to Russia in Oct, up 3.7%

Agencies As sanctions-hit Russia increasingly relies on consumer products from India, outbound shipments to Russia have started picking up for the second consecutive month in October. This...

States yet to get GST compensation of Rs 17,176 crore

AGENCIES The government on Tuesday informed Rajya Sabha that GST compensation of Rs 17,176 crore is pending to states as on June 2022. Replying to supplementaries...

At $171 billion in 2022, India Inc clinches highest ever yearly M&As

Agencies Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion...

Investors become poorer by Rs 5.78 lakh cr in two days of market...

Age ncies Investors’ wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a...

Age ncies Asian Development Bank (ADB) has kept its outlook for India’s economic growth unchanged at 7 per cent for the current fiscal year while forecasting...

Banks wrote off NPAs over 10 lakh crore in last 5 financial years: FM

Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing...

‘Nearly 100% of 2-wheeler market will shift to EVs in 3 yrs’

Age ncies Ola Electric will roll out its complete offering of electric scooters and motorcycles in each segment of the market — premium, mass premium, and...

HDFC Bank partners with Startup India for Parivartan SmartUp Grants

Jammu Tawi: HDFC Bank today announced the launch of its sixth annual grants program for social startups in partnership with the Government of India’s flagship...

Forex kitty soars $11 bn to $561.16 billion

NL CORRESPONDENT India’s foreign exchange reserves soared by $11.02 billion to reach $561.162 billion for the week ended December 2, Reserve Bank data showed on Friday. This...

Equity mutual funds’ inflow drops 76% to Rs 2,258 cr in Nov

AGENCIES The net inflow in equity mutual funds plunged 76 per cent to Rs 2,258 crore in November over the preceding month amid a sharp up...

RBI hikes benchmark lending rate by 35 basis points to tame inflation

Mumbai, Dec 7: The Reserve Bank of India (RBI) on Wednesday raised the benchmark lending rate by 35 basis points to 6.25...