yatheendradas c.k.
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Yatheendradas C.k. at 06:10 AM - Sep 14, 2018 ( ) Views: 197

The government has notified
Oct 1 as the date for implementing the TDS and tax
collected at source (TCS) provisions under
GST law. As per the Central GST (CGST)
Act, the nofied entities are required to
collect TDS at 1% on payments to goods
or services suppliers in excess of Rs 2.5
lakh. Also, states will levy 1% TDS under
state laws. ‐Times of India

The management and board of directors
of the ICICI Bank, appeared cornered
when shareholders raised serious
concerns over the bank’s reputational
and financial risks following the lender’s
dismal corporate governance. At the 24th
Annual General Meeting of the bank held
in Vadodara yesterday, shareholders
expressed disappointment over the
performance of the directors and that of
its MD and CEO, Chanda Kochhar. ‐Business Line

Punjab National Bank has put nearly 2
dozen NPAs on sale to recover over Rs
1,320 crore. The bank's Stressed
Assets Targeted Resolution Action
(SASTRA) Division, which is handling the
sale of stressed assets to recover dues,
has put on sale a total of 21 accounts
which cumulatively owe PNB Rs 1,320.19
crore. ‐Economic Times

Syndicate Bank has said its board
approved a proposal to raise up to ₹250
crore by issuing shares to its employees
under the employee stock purchase
scheme. The board of directors of the
bank in a meeting held yesterday
approved the proposal to raise capital up
to ₹ 250 crore by way of issue of equity
shares under employee stock purchase
scheme (ESPS), the bank said in a
regulatory filing. ‐Business Line

United Bank of India has increased its
MCLR by 5 basis points or 0.05% across
tenors, United Bank of India said in a
regulatory filing today. ‐Business Line

Bandhan Bank has backed out of the race
to acquire PNB Housing Finance, making
it one of the major drop‐outs, according
to sources close to the matter. ‐Economic Times

Exim Bank expects India's merchandise
exports as well as non‐oil exports to grow
over 12% in the second quarter of the
ongoing financial year. While the
merchandise exports are likely to grow
12.3% in Sep quarter, non‐oil exports
may witness 12.4% growth during the
period, Exim Bank said in a statement. ‐Moneycontrol.com

The government yesterday announced
the launch of a new umbrella scheme
‘Pradhan Mantri Annadata Aay
SanraksHan Abhiyan’ (PM‐AASHA), which
aims to provide minimum support price
(MSP) assurance to farmers. Following
the Cabinet decision, a government
statement said the scheme has been
designed to ensure that farmers get
remunerative prices for their produce as
announced in the General Budget earlier
this year. ‐Business Line

Retail inflation came in at a 10‐month
low of 3.69% for August as compared to
4.17% in the previous month. However,
the latest Consumer Price Index
(CPI)‐based inflation print was higher
than the 3.28% level recorded in August
last year, official data showed. ‐Business Line

After a day’s lull, the upward march of
fuel prices resumed today with petrol
price being hiked by 13 paise per litre and
diesel by 11 paise, according to a price
nofication of state‐owned oil markeng
companies. Petrol price in Delhi climbed
to Rs 81 per litre while diesel inched up
to an all‐time high of Rs 73.08. ‐Business Line

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