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The Dollar Business Bureau The Reserve Bank of India (RBI) has reduced the repo rate, also called the repurchase rate, under the liquidity adjustment facility (LAF) by 25 basis points to 6.50% from its earlier 6.75%. In the first bi-monthly monetary policy review for the financial year 2016-17, RBI Governor Raghuram Rajan on Tuesday said the decision was taken in the backdrop of the current and evolving macroeconomic situation. The Indian banking body also lowered down the minimum daily maintenance of the cash reserve ratio (CRR) by 5 percentage points to 90% from 95%, while leaving the CRR unchanged at 4% of net demand and time liabilities (NTDL). The change will come into effect from April 16, 2016. The reverse repo rate, at which ...

Source: PTI Showcasing significant investment opportunities in manufacturing and infrastructure sector, Finance Minister Arun Jaitley has invited Australian businesses to come and invest in India as he wraps up his four-day visit to the Asia Pacific country. During his visit, Jaitley met Prime Minister Malcolm Turnbull, Energy Minister Josh Frydenberg, Treasurer Scott Morrison, Finance Minister Mathias Cormann and several other top dignitaries and business leaders of Australia. On his first day in Sydney, Jaitley inaugurated 'Make in India' conference where he strongly pitched for foreign investments in India, especially in the area of manufacturing and infrastructure. In Canberra, he met Turnbull and discussed trade and bilateral issues of the two nations. He also invited Turnbull to visit India. Here, the finance minister also attended a ...

Sairaj Iyer| The Dollar Business The (AILBIEA) All India Liquid Build Importers and Exporters Association’s 15th annual day celebration was a high-octane event. Lifetime achievement for corporate honchos, has become a routine. It is more than mere special, when that corporate czar utilises poetry in his address. Government officials including ministers, customs officials, Shobha Chary of CBEC and corporate dignitaries like Padma Bhushan Adi Godrej, M.P. Taparia of Supreme Industries, Rupesh Aggarwal of HUL, Sudhir Malhotra of Aegis Logistics Ltd., Himanshu Sanghvi of Overseas Polymers were the dignitaries on the dais. Around 250 delegates participated in the event. AILBIEA used the occasion well to confer a royal-welcome and lifetime achievement award on Nadir Godrej, Chairman, Godrej Agro. While Jayyannt Lapsiaa, President, AILBIEA, ...

The Dollar Business Bureau    India-based multinational steel company Tata Steel and Germany-based engineering conglomerate Thyssenkrupp have held several discussions about combining their continental European steel business, but didn’t reveal their present situation. The two companies have been discussing the possibilities of collaborations for almost a year now. With this agreement, Tata steel and Thyssenkrupp will probably be the second largest manufacturer of steel in Europe with their combined volume of 22 million tonnes, only behind Luxembourg-based Arcelor Mittal, which has almost doubled the capacity. The joint venture will help the two companies cut capacity and support prices in the sector, which have been crushed by inactive demand and low-cost Chinese imports. On Wednesday, Tata Steel had declared that it was interested in acquiring a ...

The Dollar Business Bureau Larsen and Toubro’s construction arm has won deals worth Rs. 2271 cr. A release shared by the company with the BSE points out to 3 deals- a mixed-used development facility in Delhi, a civil work project at Hyderabad, and a power and transmission line in Thailand. With the first project, worth Rs.1500 crore, L&T has bagged a major turnkey project involving a leading and unnamed developer for constructing a mixed-used development facility at New Delhi. The project will involve L&T’s strengths in areas such as civil, structural, architectural and mechanical towards development of a business center tower, 2 hotel towers, and a convention center. The second project involving Rs.450 crore is towards upgrading an Air Force Academy facility ...

Execution of GST will put an end to complex taxation practices reducing transaction costs and making the system tax-payer friendly for MSMEs, says Confederation of Indian Industry Sai Nikesh | The Dollar Business CII recommends reduction of Central Sales Tax (CST) rate to 1% till GST is implemented   In line with government’s initiatives aimed at improving manufacturing activity in the country, the Indian industry has been keen on promoting Micro Small and Medium Enterprises (MSMEs), which form the core part of any industry. In this regard, various industry bodies have been pitching on the need to extend incentive and skill-based support to small-scale industries. Ahead of Union Budget 2016-17 release on Monday, the apex industry body- Confederation of Indian Industry ...

One of India's leading industry groups on Wednesday came out strongly in favour of the UK staying within the European Union, saying the exit of Britain will "create considerable uncertainty" for Indian businesses operating in the country Source: PTI FICCI warned against "considerable uncertainty" for Indian businesses operating in the UK and Europe at the prospect of a British exit (Brexit) from the EU   One of India's leading industry groups on Wednesday came out strongly in favour of the UK staying within the European Union, saying the exit of Britain will "create considerable uncertainty" for Indian businesses operating in the country. The Federation of Indian Chambers of Commerce and Industry (FICCI) warned against "considerable uncertainty" for Indian businesses operating in ...

As a part of its strategy to attract FDI from India, Japan has sought direct investment from Indian companies. And to promote direct investment Japan is ready to provide the Indian companies the much needed assistance. Its target is to reach $300 billion by 2020 The Dollar Business Bureau The Invest Japan Seminar by FICCI was a part of the Japan-India Internet of Things (IoT) Investment Initiative   As a part of its strategy to attract FDI from India, Japan has sought direct investment from Indian companies. And to promote direct investment Japan is ready to provide the Indian companies the much needed assistance. Its target is to reach $300 billion by 2020. The Invest Japan Seminar was organised in joint ...