Gold touches fresh all-time high of Rs 38,770

Gold prices on Tuesday touched a record high of Rs 38,770 per 10 gram in the national capital after gaining Rs 200 on persistent buying from jewellers even as the precious metal lost steam overseas, according to the All India Sarafa Association. Silver, however, plunged Rs 1,100 to Rs 43,900 per kg on reduced offtake … Read moreGold touches fresh all-time high of Rs 38,770

India’s e-tourist visa fee based on tourist footfall

To encourage tourists to visit India, the ministry of tourism has introduced a flexible e-tourist visa regime based on tourist footfall, with higher fee for July to March peak season and a considerably lower fee if the visit to the country falls during April to June lean period. Five-year visa will be introduced with $80 … Read moreIndia’s e-tourist visa fee based on tourist footfall

Alliance Air flight makes emergency landing at IGI

An Alliance Air flight from Delhi to Jaipur on Monday had to return midway and make an emergency landing at Indira Gandhi International airport due to a “problem in the nose landing gear” of the aircraft. An Air India spokesperson said that despite the emergency landing, all 59 passengers on board were safe and were … Read moreAlliance Air flight makes emergency landing at IGI

In breather to auto firms, govt to go slow on e-vehicle push

The government is likely to go slow on pushing electric mobility for the next few months, arguing that it has to be sympathetic to the slowdown in the auto industry. The proposal to ban the sale of internal combustion engine (ICE) three-wheelers after 2023 and two-wheelers of engine capacity up to 150cc is also not … Read moreIn breather to auto firms, govt to go slow on e-vehicle push

Borrowers to gain as RBI to tell banks to link loans with repo rate

Unhappy with the pace of transmission of interest rate cuts, the Reserve Bank of India plans to direct banks to start providing loans linked to an external benchmark like the repo (rate at which the RBI lends money to banks). RBI governor Shaktikanta Das said that some banks have already announced their intent to link … Read moreBorrowers to gain as RBI to tell banks to link loans with repo rate

Credit has to expand 18-20% for India to become $5 trillion economy

As per industry leaders, achieving the government target of making India a $5-trillion dollar economy by 2024 from around $2.7 trillion at present would require annual credit growth in the range of 18-20%. This kind of growth was last seen following the stimulus in FY11 when bank credit grew 21.5%. As on August 2, the … Read moreCredit has to expand 18-20% for India to become $5 trillion economy

Flight makes emergency landing at Delhi airport

A Jaipur-bound Alliance Air plane with 59 people on board made an emergency landing at the Delhi airport on Monday after it was forced to turn back due to nose landing gear problem and caught fire, sources said. All passengers have been de-boarded safely, an Air India spokesperson said. Alliance Air is a subsidiary of … Read moreFlight makes emergency landing at Delhi airport

Corporate tax for cos to be cut gradually: FM

Finance minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over Rs 400 crore turnover will be gradually cut to 25 per cent and the government will support wealth creators. Echoing Prime Minister Narendra Modi’s Independence Day speech, she said Indian wealth creator entrepreneurs will be given all kind of support. Please … Read moreCorporate tax for cos to be cut gradually: FM

Eco slowdown ‘very worrisome’, reforms needed: Rajan

Former RBI governor Raghuram Rajan has called slowdown in the economy “very worrisome” and said the government needs to fix the immediate problems in power and non-bank financial sectors and come out with a new set of reforms to energise private sector to invest. Rajan also called for a fresh look at the way GDP … Read moreEco slowdown ‘very worrisome’, reforms needed: Rajan