In a major fiscal booster, the government on Friday slashed effective corporatIon tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

Making the announcement, Finance Minister Nirmala Sitharaman said the new tax rate will be applicable from the current fiscal which began on April 1.

A group of ministers, led by Home Minister Amit Shah, on Thursday set the ball rolling on disinvestment of state-owned Air India. This is the second attempt of the Modi government to sell Air India after a previous attempt failed to generate any interest.

Officials aware of the deliberations in a meeting of AISAM on Thursday said the agenda was to seek a formal political approval for the re-initiation of the privatisation process.

Private lender Axis Bank on Thursday fixed the floor price for its qualified institutional placement (QIP) issue at at Rs 661.50 per equity share. The private lender has said that the board will meet again on September 25 to approve QIP issue to investors.

The bank, in an exchange filing, has also said that a discount of 5 per cent can be offered on the base price at the discretion of the board.

The Reserve Bank of India (RBI) on Thursday said banks can set their own policies regarding concurrent audits but should cover basic minimum areas prescribed by the central bank.

Earlier, the central bank used to formulate rules for concurrent audits, which are done to shorten the interval between a transaction and its audit. The idea is to develop sound internal accounting, minimising errors, and preventing frauds.

TVS Motor Company today launched the TVS NTORQ 125 Race Edition. The vibrant chequered flag graphics along with the ‘Race Edition’ emblem on the scooter accentuates the TVS Racing pedigree.

The new 125 cc scooter is targetetted at millienials and has a host of features to target the Gen Z according to the company.

Mumbai: India’s largest lender State Bank of India (SBI) has put on hold its existing repo-linked home loan product as it prepares to launch a new one on 1 October, complying with the direction of the Reserve Bank of India (RBI), according to a person familiar with the development.

Wipro Consumer Care and Lighting has set up a venture fund to invest in start-ups in the consumer brands space with India and South East Asia being focus markets. The ‘Wipro Consumer Care – Ventures’ will focus on companies with a differentiated approach where both parties can learn by leveraging their strengths and add value to each other.

A group of ministers led by Home Minister Amit Shah is set to meet on Thursday to discuss Air India privatization as the government looks to reduce its stake in the state-run carrier. The panel, which will have Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal and Civil Aviation Minister Hardeep Singh Puri, will discuss key issues relating to selling 100% stake in the airline,

NASA is analysing, validating and reviewing the images clicked by its lunar orbiter of the area on the Moon where India's Chandrayaan-2 mission made an unsuccessful attempt to soft land its Vikram module, according to a media report that quoted a project scientist of the US space agency.

With the Government looking to ban single-use plastic, Indian industry has suggested to follow a structured approach on the move and sought exemption for certain items.

"CII (Confederation of Indian Industry) supports the phase-out of single-use plastics in a structured manner. In addition, the priority items of single-use plastics identified for the phase-out need to be decided through an inclusive consultative process," industry body CII said in a 'draft note on single-use plastic'.

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