Government is determined to go ahead with the proposal to set up an asset reconstruction company (ARC) with equity contribution from the government and the RBI. RBI Governor Raghuram Rajan has reservations about ARC. He asked why the taxpayer should pay for reckless lending by banks in the past. Rajan has made several suggestions to ease the NPA crisis, such as corporate … [Read more...] about A Story of Reckless Lending: Raghuram Rajan
Economy
Taxpayers Warned Against Sharing Sensitive Information
The Income Tax Department has warned taxpayers against revealing sensitive information such as their pin numbers or passwords under any circumstances. The IT department said that it does not ever ask for such information through e-mail or SMS. The Department also said that it had displayed a notification on its website appealing to taxpayers not to share information … [Read more...] about Taxpayers Warned Against Sharing Sensitive Information
Government aims to move five more reforms to labour laws
The government is striving to introduce five more labour reform legislations in the winter session of Parliament, including the bills to introduce a new wage and industrial relations code and amend laws governing child labour and bonus payments These are in addition to the amendments to the Factories Act of 1948 The only new bill to be introduced in Parliament’s lower … [Read more...] about Government aims to move five more reforms to labour laws
Startup policy in New Year
The government is gearing up to unveil a new policy for promoting startups in January 2016 with an eye on boosting innovation, entrepreneurship and creating new jobs. The policy would bolster and complement the other initiatives already launched to promote new enterprises such as the Mudra scheme, short for Micro Units Development and Refinance Agency. Finance Minister Arun … [Read more...] about Startup policy in New Year
Adani Ports keen to enter Maharashtra, AP, Karnataka and foreign nations
Adani Ports is keen to complete its own ‘Sagarmala’ dream by having presence in the three key States of Maharashtra, Karnataka and Andhra Pradesh, apart from setting up trans-shipment terminals in Southeast Asia and East Africa Adani Ports and Special Economic Zone (APSEZ) becomes the country’s largest ports operator in the private sector. trans-shipment terminals in … [Read more...] about Adani Ports keen to enter Maharashtra, AP, Karnataka and foreign nations