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    Govt defers unified stamp duty rates on securities till July 1

    The government has deferred implementation of a simplified stamp duty collection process for listed securities by three months in the wake of disruptions caused by the Covid-19 pandemic.As per amendments to the Stamp Act, 1899 introduced in the The Finance Bill, 2019, the government decided to introduce a centralised system of stamp duty with a unified rate for all financial...

    • yesterday
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    Short-selling bans increasing uncertainty: WFE

    Recent global bans on short-selling are damaging markets and failing to achieve their desired effect, a global industry group for exchanges and central counter-party clearing houses or CCPs said.According to the World Federation of Exchanges, unlike circuit breakers and other safeguards put in place by exchanges to slow markets down in times of stress, short-selling bans inhibit orderly markets...

    • yesterday
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    Centre relaxes procurement, transportation norms for medical, essential supplies

    The Centre has relaxed guidelines for procurement and transportation of medical and other essential supplies to deal with the COVID-19 outbreak.Accordingly, the Department of Expenditure under the Ministry of Finance issued the guidelines on Monday for Ministry of Health, Civil Aviation, Textiles, Department of Pharmaceuticals and Department of Consumer Affairs.

    • yesterday
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    Specified G-secs to be opened for NRIs from April 1: RBI

    The Reserve Bank on Monday notified that some categories of government securities will be opened fully for non-resident investors, and will continue to be open for the domestic investors.At present, G-secs are not fully opened for subscription by non-resident investors.The RBI, in a notification on Monday, said: "A reference is also invited to the announcement made in the Union Budget...

    • yesterday
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    Need strict vigilance against smuggling of fake medicine: CBIC Chairman

    Chairman of the Central Board of Indirect Taxes and Customs (CBIC), Ajit Kumar, on Monday asked his staff to be extra vigilant against the smuggling of fake medicines and personal protective gears, which has surged with criminal organisations turning the Covid-19 pandemic into an opportunity to carry out fraudulent activities.

    • yesterday
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    COVID-19: Telangana govt to cut salaries of its staff

    In a clear indication of the tough times that COVID-19 has wrought upon the state, the Telangana government, on Monday, resorted to tightening its purse strings. With economic activity coming to a standstill and the government having to initiate a bevy of humanitarian measures due to the 21-day lockdown, revenue flow has come to a standstill in the state.

    • yesterday
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    30% retailers may shut shop in 6 months if no govt support: RAI

    About 30 per cent of Indian retailers may be out of business in six months time if the government does not provide them support amidst the nation-wide lockdown, Retailers Association of India (RAI) CEO Kumar Rajagopalan said.Speaking to IANS on Sunday, Rajagoplan also noted that the business has been severely subdued since February, with 50-60 per cent of normal trade last month and...

    • 2 days ago
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    Wheat procurement after middle of April, no word from FCI

    With the country under a 21-day nationwide lockdown till April 14 due to coronavirus crisis, procurement of wheat in the new Rabi season will start only after the middle of next month.The Food Corporation of India (FCI) has till now not issued any new order on the procurement and storage of wheat this season in the country.

    • 2 days ago
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    Lockdown period to be excluded from timeline for resolution process

    In a major relief for companies going through insolvency under the Insolvency and Bankruptcy Code (IBC), the IBBI on Sunday said that the period of lockdown will not be counted within the timeline for resolution process.In a notification, the IBBI announced the insertion of regulation '40C', a special provision related to timeline of Corporate Insolvency Resolution...

    • 2 days ago
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    Crude price worsens on Covid-19 concerns, reaches closer to $20 per barrel

    Crude oil prices continued their freefall on Monday with the WTI crude of US falling below the $20 per barrel mark briefly and benchmark Brent crude price touching its 18-year-low on fears that coronavirus-related shutdowns may continue for few more months, resulting in further decline in fuel demand.Currently, the West Texas Intermediate (WTI) crude is trading at $20.40...

    • 2 days ago

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