The New Indian Express Business News

  • Business

    Anson Group Floats New Nidhi Company

    KOCHI : Anson group company has launched a nidhi company, Anson Fincorp Nidhi Limited. The new company, under the supervision of the Reserve Bank of India, will accept deposits and disburse loans. Anson Fincorp provides gold loan in the remote areas in the State. The company also disburses personal and business loans to eligible customers and has over `15 crore in assets under management. "Anson Fincorp...

    • an hour ago
  • Business

    System to Ensure Contract Staff get their Due Share

    NEW DELHI: Minister for Power, Coal and New & Renewable Energy Piyush Goyal on Wednesday launched 'Contract Labour Payment Management System'- a portal of Coal India Limited (CIL) that aims to curb corruption and exploitation of labour by the contractors and help providing proper & timely wages to contractual workers. It is an integrated system for all subsidiaries of CIL....

    • an hour ago
  • Business

    Bar on Bankrupts from Contesting Polls on Cards

    NEW DELHI: A bankrupt person would stand automatically disqualified from contesting elections once the new legislation that looks to slash the time it takes to wind up a dying company or recover dues from a defaulter is enacted. The bankrupt cannot also serve as a director of any company. According to a clause in the Insolvency and Bankruptcy Code, 2015, the bankrupt would stand disqualified from...

    • an hour ago
  • Business

    New Coal use Policy to Cut Power Bill

    NEW DELHI: The Government on Wednesday relaxed norms for utilisation of domestic coal that will help bring down the cost of power generation by 40 to 50 paise per unit and eventually lead to yearly savings of up to Rs 30,000 crore in the next 4-5 years. "The Union Cabinet has given its approval for allowing flexibility in utilisation of domestic coal for reducing the cost of power generation," a...

    • an hour ago
  • Business

    Monetary Policy Transmission on, but at Slow Pace

    CHENNAI: With banks switching to a new interest rate determining methodology from April, expectations were thick that rates will fall. Considering the Reserve Bank of India's (RBI) cumulative 150 basis points (bps) policy rate reduction since March 2015, clamour for lower rates grew louder. But lenders do not seem to be in the mood, just yet. Only a slew of banks including SBI, ICICI Bank...

    • an hour ago
  • Business

    CBDT Asks Rich to Declare Costly Buys

    NEW DELHI: Individual with an annual income of over `50 lakh now be bound to disclose their luxury acquisitions. According to the Central Board of Direct Taxes (CBDT), such individuals will have to disclose the acquisition cost of all the assets like land, building and jewellery in the Income Tax return forms for assessment year 2016-17. "The amount in respect of assets to be reported will be the cost...

    • an hour ago
  • Business

    Supreme Court Ban on Diesel Taxis to Cost BPM Sector $1 Billion: Nasscom

    NEW DELHI: The business process management (BPM) sector will hit a $1 billion potential loss if the ban on diesel taxis in Delhi NCR region continues for 2-3 weeks more, industry body Nasscom said. "There will be a potential $1 billion loss to the business process management (BPM) sector if ban on diesel cabs continues for 2-3 weeks," Senior...

    • an hour ago
  • Business

    Ex-Wipro Staffer in London Wins Sex Discrimination Lawsuit Against Firm

    BENGALURU: Shreya Ukil, a senior female executive who took on Wipro, the Bengaluru-based outsourcing firm, has won an equal pay, sex discrimination, unfair dismissal and victimisation case which she brought against her former employer. Ukil had accused the Indian information technology (IT) firm of sex discrimination, unequal pay, harassment and unfair dismissal, and had...

    • 4 hrs ago
  • Business

    Wipro Denies Former Employee's Claims

    BENGALURU: In response to a claim by a former employee of Wipro that her case in a UK employment tribunal was passed in her favour, Wipro, late in the day said in a statement that the tribunal has upheld the dismissal of the complainant and rejected claims of adverse cultural attitude towards women in the organisation. "Wipro Limited is pleased the UK Employment Tribunal has upheld the dismissal of the...

    • 4 hrs ago
  • Business

    India Received USD 48 Billion in Remittances in Nine Months of Last Fiscal

    NEW DELHI: India has received USD 48 billion in remittances in the first nine months of the previous fiscal, the government informed Lok Sabha today. India, one of the top recipients of remittances globally, had received USD 66.26 billion in 2014-15 while the amount was USD 65.48 billion in 2013-14. Replying to a question, Minister of State for External Affairs V K Singh...

    • 5 hrs ago

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