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Govt to raise Rs 97,000 cr through T-bills
The government today said it will raise Rs 97,000 crore in the last quarter of the fiscal through treasury bills, which are short-term bonds.

CRR may be used to drain excess liquidity, says Rangarajan
Raising banks’ cash reserve ratio (CRR) might be one of the tools to be used by the Reserve Bank of India (RBI) to suck out excess liquidity in the banking system, Chairman of Prime Minister’s Economic Advisory Council C Rangarajan today said.

News of the day

OBC seeks Rs 1,000 crore support from govt: CMD
Claiming that the Oriental Bank of Commerce (OBC) was in its expansion mode and would open at least 200 new branches every year in the next three fiscals, Chairman-cum-Managing Director of the Bank T Y Prabhu said the bank had sought capital support of Rs 1,000 crore from the government to implement its expansion plan.
International Business

Say that again!

Finance Minister Pranab Mukherjee is used to industry chambers asking for all manner of sops in the run-up to the Budget, so Assocham’s latest pre-Budget request has to come as a big surprise. Assocham has asked that he bring in medical and educational institutions under the ambit of the tax system. - SBI to raise Rs 20,000 crore through equity in 2 years - Bharti Airtel disappointed with 3G auction delay - 3G auction likely to be delayed again - The move is appropriate and adequate, says govt - New date for GST rollout to be known in April - Chidambaram likely to visit Islamabad for Saarc meeting Assocham’s press release says educational and medical institutions, including hospitals, are sitting on huge surpluses but do not pay taxes. The same principle, Assocham says, has to be applied to other organisations which, by law, are forced to operate as societies or trusts in order to get land at concessional rates or to meet the requirements of the law.


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