The government has kept a large number of items under 18% tax slab. 1,211 items have been categorised under various tax slabs. Here is a low-down.
RBI came out with final guidelines on branch authorisation, with a refined definition on what constitutes a bank branch and liberalised policies on presence in tier-I centres
India has finalised the tax rates on all but six out of the 1,211 items in the proposed GST (Goods and Services Tax) regime, fitting over 80% of the items in the up to 18% tax slabs, effectively making food grains cheaper, while exempting essential items such as cereals and milk from the levy altogether.
The revised PCA, released last week by the Reserve Bank invests a lot of powers on the regulator to supersede the troubled banks.
The RBI said an additional 11 NEFT settlement batches at half- hourly intervals will be introduced from 10 July, beginning from 8.30 am till 6.30 pm, for transfer of funds
The political establishment must move beyond a reflexive rejection of the very concept of agricultural tax