Business

The government on Friday slashed the income tax rate for companies by almost 10 percentage points to 25.17 per cent and offered a lower rate to 17.01 per cent for new manufacturing firms.

Friday’s announcements by the government put India in a more competitive space against other developing markets like Bangladesh and Indonesia as far as attracting investment is concerned.

During the public meetings, credit will be provided for retail, agriculture, MSME and housing sector, among others.

Shaktikanta Das said the RBI had predicted growth at 5.8 per cent, and no one had predicted less than 5.5 per cent.

SBI Chairman Rajnish Kumar on Saturday inaugurated a new branch in this remote town of Diskit in the Nubra Valley, making it the 14th facility of the bank in the Ladakh region.

The rate of price rise in the food basket was 2.99 percent in August, up from 2.36 percent in the previous month, as per the Consumer Price Index (CPI) data released by the Ministry of Statistics & Programme Implementation.

Factory output, as measured by the Index of Industrial Production (IIP), had expanded 6.5 percent in July 2018.

Finance Minister Nirmala Sitharaman last week had announced to merge 10 public sector banks (PSBs) into four lenders aimed at creating stronger and bigger banks.

JLR’s retail sales in China rose 17.4% year-on-year in August, backed by strong demand for the all-new Range Rover Evoque and the Range Rover Sport.

The United States Bureau of South and Central Asian Affairs (SCA) also congratulated the group's chairman Anand Mahindra on the new office and the plant in a tweet.

Under Jack Ma's leadership, Alibaba has grown to become Asia's most valuable listed company, with a current market capitalisation of $460 billion, employing over 100,000 people.

The report said among NBFCs, the retail asset financers with long track records have been able to mobilise funding owing to the granular nature of their loan books and the control they have exhibited in maintaining asset quality.

Due to the 10 basis point rate cut across all tenors, the Marginal Cost of Funds based Lending Rate (MCLR) will now come down to 8.15% from 8.25 % from September 10.

Traders are hoping that the government this week may address concerns of the automobile industry by reducing goods and services tax (GST) for the sector.

There have been demand for as stress fund to deal with stalled projects and bail out lakhs of stuck homebuyers from both home buyers and builders side.

At 10.47 am, the Prabhat Dairy stock was trading up 20% at Rs 78.45. The share price has corrected nearly 59% in the last one year but, notably, has shot up 30% this week.