World Bank projects India to grow at 8.3 per cent in 2021
The World Bank on Tuesday projected India’s economy to grow at 8.3 per cent in 2021 and 7.5 per cent in 2022, even as its recovery is being hampered by an unprecedented second wave of the Covid-19, the largest outbreak in the world since the beginning of the deadly pandemic. The Washington-based global lender, in its latest issue of Global Economic Prospects released here, noted that in India, an enormous second Covid-19 wave is undermining the sharper-than-expected rebound in activity seen during the second half of Fiscal Year 2020/21, especially in services. READ MORE…
RBI asks banks not to destroy CCTV recordings of demonetisation period
The RBI on Tuesday asked banks to preserve the CCTV recordings of their branches and currency chests from November 8, 2016, to December 30, 2016, till further orders with a view to assisting the enforcement agencies to take actions against persons involved in illegal activities during the demonetisation period. The government had demonetised the then in circulation high value currency notes of Rs 500 and Rs 1,000 on November 8, 2016, with an aim to check blackmoney and curb terror funding. READ MORE…
FM asks Infosys to fix tech glitches on new income tax e-filing portal
Finance Minister Nirmala Sitharaman on Tuesday asked Infosys and its Chairman Nandan Nilekani to fix technical glitches being encountered on the income tax department’s new e-filing website, after users flooded her Twitter timeline with complaints.
Infosys was in 2019 awarded a contract to develop the next-generation income tax filing system to reduce processing time for returns from 63 days to one day and expedite refunds. READ MORE…
DHFL: 63 moons to challenge NCLT’s approval
63 moons technologies, which holds around Rs 200 crore worth of non-convertible debentures (NCDs) of Dewan Housing Finance Limited (DHFL), is planning to challenge the National Company Law Tribunal’s (NCLT) order approving the Piramal Group’s resolution plan for the beleaguered home financier. “63 moons believes that the current resolution plan is contrary to law and against the interest of all DHFL’s creditors including NCD holders,” the company said in a statement. READ MORE…
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
Source link