Over 78% MSMEs unsatisfied with financial package: Survey

Across India, over 78 per cent of the 60 odd million MSMEs and 83 per cent of self-employed are unsatisfied and still unsure on how they benefit from the Rs 3,00,000 crore financial package announced by the Finance Minister, according to the final results of the All India Manufacturers Organisation (AIMO) survey. Continue Reading

Editorial: Coronavirus threat

On the impact of Coronavirus on the economy, Union Finance Minister Nirmala Sitharaman sought to allay any fears saying there is no need to immediately press the panic button, but things could get challenging if the issues prolong for another two or three weeks, citing feedback from the pharmaceutical and electronic industries, which depend heavily on imports of raw material from China. Continue Reading

City Union Bank celebrates 116th Foundation Day

Tamilnadu-based City Union Bank celebrated its 116th Foundation Day here. The event saw the participation of Finance Minister, Nirmala Sitharaman and MD and CEO of City Union Bank (CUB), N Kamakodi. Continue Reading

Delhi court extends Chidambaram’s judicial custody in INX Media case

A Delhi court today extended the judicial custody of former Finance Minister P Chidambaram in the INX Media case lodged by CBI. Continue Reading

Govt slashes corporate tax to 25.17% for domestic companies

In a major fiscal booster, the government today slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.
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Government issues ordinance to ban e-cigarettes

The government today issued an ordinance to ban e-cigarettes, making the production, import, export, transport, sale or advertisements of such ”alternative” smoking devices a cognizable offence attracting jail term and fine. Continue Reading

Centre announces steps to boost housing projects

The government today announced a Rs 10,000 crore special window to provide last-mile funding for completion of ongoing housing projects which are not NPAs or facing bankruptcy proceedings under NCLT. Continue Reading

Naidu appeals to FM to retain Andhra Bank’s name

Telugu Desam Party president N Chandrababu Naidu on Tuesday requested Union Finance Minister Nirmala Sitharaman to continue the name of Andhra Bank if its amalgamation with other banks was inevitable. Continue Reading

There will no job loss due to merger of banks: Finance Minister

Finance Minister Nirmala Sitharaman allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation. Continue Reading

Fin Ministry asks PSBs to seek suggestions from bank branches

The Finance Ministry has asked public sector banks (PSBs) to initiate a month-long consultation process with officers at branch level to seek suggestions on streamlining banking sector to help the country achieve $ 5 trillion economy in five years. Continue Reading