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Times of India: Business News and Markets News

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Updated: 19 min ago

India's e-tourist visa fee based on tourist footfall

1 hour 15 min ago
To encourage tourists to visit India, the ministry of tourism has introduced a flexible e-tourist visa regime based on tourist footfall, with higher fee for July to March peak season and a considerably lower fee if the visit to the country falls during April to June lean period. Five-year visa will be introduced with $80 fee and a one-year visa with $40 fee.
Categories: India News

Alliance Air flight makes emergency landing at IGI

2 hours 48 min ago
An Alliance Air flight from Delhi to Jaipur on Monday had to return midway and make an emergency landing at Indira Gandhi International airport due to a “problem in the nose landing gear” of the aircraft. An Air India spokesperson said that despite the emergency landing, all 59 passengers on board were safe and were evacuated safely before being shifted to another aircraft.
Categories: India News

H&M bets big on India, sees no slowdown here

Mon, 08/19/2019 - 9:45pm
Categories: India News

New I-T law task force favours lower tax rate

Mon, 08/19/2019 - 8:37pm
The task force mandated to frame a new income tax law has suggested lowering the tax rate, tracking more financial transactions using technology to widen the base, and retaining some of the exemptions available to middle class investors in a country that lacks social security.
Categories: India News

In breather to auto firms, govt to go slow on e-vehicle push

Mon, 08/19/2019 - 8:23pm
The government is likely to go slow on pushing electric mobility for the next few months, arguing that it has to be sympathetic to the slowdown in the auto industry. The proposal to ban the sale of internal combustion engine (ICE) three-wheelers after 2023 and two-wheelers of engine capacity up to 150cc is also not being pushed aggressively, government sources said.
Categories: India News

Borrowers to gain as RBI to tell banks to link loans with repo rate

Mon, 08/19/2019 - 8:15pm
Unhappy with the pace of transmission of interest rate cuts, the Reserve Bank of India plans to direct banks to start providing loans linked to an external benchmark like the repo (rate at which the RBI lends money to banks). RBI governor Shaktikanta Das said that some banks have already announced their intent to link lending rates to an external benchmark.
Categories: India News

Credit has to expand 18-20% for India to become $5 trillion economy

Mon, 08/19/2019 - 6:30pm
As per industry leaders, achieving the government target of making India a $5-trillion dollar economy by 2024 from around $2.7 trillion at present would require annual credit growth in the range of 18-20%. This kind of growth was last seen following the stimulus in FY11 when bank credit grew 21.5%. As on August 2, the year-on-year bank credit growth was 12%.
Categories: India News

A C Muthiah seeks to shed promoter status in Sical

Mon, 08/19/2019 - 6:30pm
After selling the logistics services provider Sical to Cafe Coffee Day in 2011, A C Muthiah group’s shareholding will move out of the ‘promoter’ category as the company is seeking shareholders nod to declassify the group.
Categories: India News

Food apps can't set discounts: Restaurants

Mon, 08/19/2019 - 1:51pm
Restaurants are willing to pay food aggregators for reservation and delivery but won’t let them dictate discounts, the head of a national body of restaurants said on Monday, hardening its stance on the ongoing move by eating joints logging out of platforms operated by apps
Categories: India News

Flight makes emergency landing at Delhi airport

Mon, 08/19/2019 - 1:08pm
A Jaipur-bound Alliance Air plane with 59 people on board made an emergency landing at the Delhi airport on Monday after it was forced to turn back due to nose landing gear problem and caught fire, sources said. All passengers have been de-boarded safely, an Air India spokesperson said. Alliance Air is a subsidiary of Air India.
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Won't accept A320 Neos with yet to be updated engines,DGCA warns Pratt

Mon, 08/19/2019 - 11:42am
Indian aviation authorities have warned Pratt & Whitney (PW) that new Airbus A320 Neos being delivered to IndiGo and GoAir from next month will not be accepted unless they come with updated engines as snags continue to plague PW’s yet-to-be-upgraded engines for the Neos.
Categories: India News

Corporate tax for cos to be cut gradually: FM

Mon, 08/19/2019 - 9:57am
Finance minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government will support wealth creators. Echoing Prime Minister Narendra Modi's Independence Day speech, she said Indian wealth creator entrepreneurs will be given all kind of support.
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Eco slowdown 'very worrisome', reforms needed: Rajan

Mon, 08/19/2019 - 8:49am
Former RBI governor Raghuram Rajan has called slowdown in the economy "very worrisome" and said the government needs to fix the immediate problems in power and non-bank financial sectors and come out with a new set of reforms to energise private sector to invest. Rajan also called for a fresh look at the way GDP in India is calculated.
Categories: India News

Vodafone Idea: Ravinder Takkar to take over as CEO

Mon, 08/19/2019 - 7:45am
Mobile operator Vodafone Idea on Monday said Balesh Sharma has stepped down as its CEO citing personal reasons. Ravinder Takkar, currently Vodafone Group's representative in India, will be appointed as the new MD and CEO with immediate effect, the company said in a statement.
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Task force on direct tax code submits report to Nirmala Sitharaman

Mon, 08/19/2019 - 7:08am
A government-appointed task force headed by Central Board of Direct Taxes member Akhilesh Ranjan on Monday submitted its report on the new direct tax code, which seeks to replace the existing Income-Tax Act. The panel was supposed to submit its report to the government, within 6 months, by May 22, 2018, which was further extended till August 22.
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Reliance Jio adds 82.6 lakh users in June: Trai

Mon, 08/19/2019 - 6:58am
Telecom operators like Bharti Airtel and Vodafone Idea continued to lose subscribers - 41.75 lakh combined - during June, while rival Reliance Jio added over 82.6 lakh users, according to data released by Trai. In absolute terms, Vodafone Idea continued to lead the total subscriber tally at 38.34 crore, followed by Jio with 33.12 crore and Bharti Airtel with 32.03 crore.
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RBI rules out asset quality review of NBFCs for now

Mon, 08/19/2019 - 6:14am
Even as he reiterated the regulatory resolve to not let any large non-banking finance company (NBFC) fail, Reserve Bank governor Shaktikanta Das on Monday ruled out ordering an asset quality review of the systematically important shadow banks for now.
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PV retail sales fall 11% in July: FADA

Mon, 08/19/2019 - 6:00am
Automobile dealers' body FADA on Monday said retail sales of passenger vehicles (PV) in July declined 11 per cent to 2,43,183 units against the same period last year.
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Invest in health to secure your future: Here's how

Mon, 08/19/2019 - 4:51am
Awareness around fitness may have increased over the past few years, but Indians fare poorly on several parameters. According to a study by fitness device platform Goqii, Indians under the age of 45 saw a rise in the incidence of lifestyle diseases in 2018 compared to 2017.
Categories: India News

Protect your financial goals amid market volatility

Mon, 08/19/2019 - 4:23am
The recent volatility in the stock market, triggered by global and domestic factors, has made investors jittery. It has also highlighted the fact that the market mood can change rapidly and torpedo your financial goals if you are not protected.
Categories: India News