Public sector banks have performed better than their private sector counterparts in customer service.
Centre likely to miss collection target for '09-10
The long wait for a symbol of the rupee is expected to end by March next year. A committee headed by Reserve Bank of India Deputy Governor Usha Thorat has shortlisted five symbols from 4,000 entries for a public competition to select a design for the symbol.
The government is likely to ease the incidence of minimum alternate tax, or MAT, on infrastructure companies.
The Centre has turned down the proposal of the empowered group of state finance ministers to keep alcohol out of goods and services tax.
Businesses with more than Rs 10 lakh turnover may end up paying the central goods and services tax, with the Centre not agreeing to states' suggestion of keeping the threshold at Rs 1.5 crore.
Outlets of telecom companies such as Airtel and Vodafone may soon double as bank kiosks for financial services like funds transfer or bill payment, especially in parts of the country where there are very few banks or none at all.
The finance ministry is likely to drop the proposal to tax religious trusts. The proposal formed part of the direct taxes code and had raised eyebrows both within and outside the finance ministry. Under Section 10 (23C) of the Income Tax Act, any trust or institution that works wholly for public religious and charitable purposes and is approved by the chief commissioner or director general, is tax exempt.
The government has said that public sector banks have asked for much more capital than it can give.
Recently, Finance Minister Pranab Mukherjee had assured industry that the government was open to re-examining proposals in seven key areas.
In addition, bankers also told Business Standard that they did not expect the central bank to hike policy rates or the cash reserve ratio in the third quarter review scheduled for October 27 as inflation was not rising fast though inflationary expectations were there.
The Pension Fund Regulatory and Development Authority will consider a proposal to manage the pension funds of companies at its board meeting on Wednesday, extending its role from being manager of individual pension plans.
They want the authorities to fulfill their security-related demands which include no duty in the mining area after sunset, increasing the number of security personnel and their presence in the workers' colony and in buses used to transport the workers. The operations have halted following a Naxalite attack on the site in which 10 CISF jawans and five Naxalites were killed. About 100 Nalco workers were held hostage by the ultras for over eight hours.
Even as aluminium maker Nalco plans to restart operations at its Panchpatmali bauxite mines in Koraput district on Thursday, the employees stay too scared to go back to work.
But will this move of BJD supremo and chief minister Naveen Patnaik help him to return to power for the third consecutive term? Or will his decision to sever 11 year old ties with BJP, which saw him at the head of a coalition government for last nine years, prove to be costly? This is the question that every voter in the state is asking.
The Anil Agarwal promoted Vedanta Aluminium (VAL) plans to invest a whopping Rs 60,000 crore in aluminium, alumina and power sector in Orissa by 2013.
Tata Steel has linked the progress of its mega steel projects in Orissa and Jharkhand to the pro-active support of the respective state governments.
There is a growing voice of supporters of major industrial projects in Orissa that have faced opposition from sections in this little-developed state.
Orissa, where the programme was already under a cloud after an NGO alleged false data were being entered on the state's NREGA website, is now uncovering more scams. A team of researchers led by economist Jean Dreze and Ritika Khera, which is doing a survey focussed mainly on the corruption in the programme in Orissa, recently dug out a doctored muster roll in Badhigam gram panchayat of Boudh district.
Public sector blue chip firm National Aluminium Company, the largest manufacturer and exporter of aluminium in the country, proposes to make a foray into wind power generation.
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