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IndiaTV Business: Google News Feed: Digest for April 02, 2024

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Filed Income Tax return but getting a mismatch notice regarding information provided to the tax department? Don't worry as these are common scenarios which can be resolved through the compliance portal online.
Noida International Airport (NIA) awarded a contract to HMSHost India for building and operating restaurants, cafes, and other food outlets at the Jewar airport. This is the second F&B contract awarded by Noida International Airport (NIA).
In the first collaboration between rival billionaires, Mukesh Ambani's Reliance Industries has picked up a 26 per cent stake in a Madhya Pradesh power project of Gautam Adani, and signed a pact to use the plants' 500 MW of electricity for captive use.
The Reserve Bank of India (RBI) has advised banks to keep its branches dealing with government business to remain open on March 31, the last day of the current financial year is a Sunday.
New Delhi: The Reserve Bank of India (RBI) won't be exchanging or depositing Rs 2000 notes on April 1 at its 19 offices due to operations associated with the annual closing of accounts. The service will resume on April 2, according to an announcement by the central bank.

LIC to keep offices open on March 30, 31 to help taxpayers

Friday 29 March 2024 08:10 AM UTC+00
Business news: Life Insurance Corporation will keep its offices open on March 30 (Saturday) and March 31 (Sunday) to facilitate taxpayers to complete tax saving exercise before the closing of the fiscal year. LIC's measure follows the announcement by banks that their branches will remain open on Saturday and Sunday. 
Business news: India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank of India (RBI) said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 billion in the previous reporting week.
Bank holidays: April will witness 14 days when banks will remain closed in different states. The Reserve Bank of India (RBI) shared the list of holidays for banks in the upcoming month that includes Sundays, second and fourth Saturdays as well as public holidays. The scheduling of these holidays is overseen by the RBI and respective state governments.
Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka. The popular online food delivery service also outlined its intention to appeal the order before the appropriate authority.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.
In the first collaboration between rival billionaires, Mukesh Ambani's Reliance Industries has picked up a 26 per cent stake in a Madhya Pradesh power project of Gautam Adani, and signed a pact to use the plants' 500 MW of electricity for captive use.
The Reserve Bank of India (RBI) has advised banks to keep its branches dealing with government business to remain open on March 31, the last day of the current financial year is a Sunday.
New Delhi: The Reserve Bank of India (RBI) won't be exchanging or depositing Rs 2000 notes on April 1 at its 19 offices due to operations associated with the annual closing of accounts. The service will resume on April 2, according to an announcement by the central bank.

LIC to keep offices open on March 30, 31 to help taxpayers

Friday 29 March 2024 08:10 AM UTC+00
Business news: Life Insurance Corporation will keep its offices open on March 30 (Saturday) and March 31 (Sunday) to facilitate taxpayers to complete tax saving exercise before the closing of the fiscal year. LIC's measure follows the announcement by banks that their branches will remain open on Saturday and Sunday. 
Business news: India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank of India (RBI) said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 billion in the previous reporting week.
Bank holidays: April will witness 14 days when banks will remain closed in different states. The Reserve Bank of India (RBI) shared the list of holidays for banks in the upcoming month that includes Sundays, second and fourth Saturdays as well as public holidays. The scheduling of these holidays is overseen by the RBI and respective state governments.
Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka. The popular online food delivery service also outlined its intention to appeal the order before the appropriate authority.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
New Delhi: The Reserve Bank of India (RBI) won't be exchanging or depositing Rs 2000 notes on April 1 at its 19 offices due to operations associated with the annual closing of accounts. The service will resume on April 2, according to an announcement by the central bank.

LIC to keep offices open on March 30, 31 to help taxpayers

Friday 29 March 2024 08:10 AM UTC+00
Business news: Life Insurance Corporation will keep its offices open on March 30 (Saturday) and March 31 (Sunday) to facilitate taxpayers to complete tax saving exercise before the closing of the fiscal year. LIC's measure follows the announcement by banks that their branches will remain open on Saturday and Sunday. 
Business news: India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank of India (RBI) said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 billion in the previous reporting week.
Bank holidays: April will witness 14 days when banks will remain closed in different states. The Reserve Bank of India (RBI) shared the list of holidays for banks in the upcoming month that includes Sundays, second and fourth Saturdays as well as public holidays. The scheduling of these holidays is overseen by the RBI and respective state governments.
Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka. The popular online food delivery service also outlined its intention to appeal the order before the appropriate authority.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, as reported by ANI, citing sources.
Amidst speculations, the Finance Ministry has clarified that there will be no new changes in the tax regime from April 1, 2024, as the interim budget's income tax proposals take effect. In a statement posted on X (formerly Twitter), the ministry addressed confusion surrounding the new tax regime, known for its lower rates but fewer exemptions and deductions.

LIC to keep offices open on March 30, 31 to help taxpayers

Friday 29 March 2024 08:10 AM UTC+00
Business news: Life Insurance Corporation will keep its offices open on March 30 (Saturday) and March 31 (Sunday) to facilitate taxpayers to complete tax saving exercise before the closing of the fiscal year. LIC's measure follows the announcement by banks that their branches will remain open on Saturday and Sunday. 
Business news: India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank of India (RBI) said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 billion in the previous reporting week.
Bank holidays: April will witness 14 days when banks will remain closed in different states. The Reserve Bank of India (RBI) shared the list of holidays for banks in the upcoming month that includes Sundays, second and fourth Saturdays as well as public holidays. The scheduling of these holidays is overseen by the RBI and respective state governments.
Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka. The popular online food delivery service also outlined its intention to appeal the order before the appropriate authority.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, as reported by ANI, citing sources.
Amidst speculations, the Finance Ministry has clarified that there will be no new changes in the tax regime from April 1, 2024, as the interim budget's income tax proposals take effect. In a statement posted on X (formerly Twitter), the ministry addressed confusion surrounding the new tax regime, known for its lower rates but fewer exemptions and deductions.
Prime Minister Narendra Modi on Monday (April 1) stressed on the need to study "newer banking structure" with the evolving changes in the financial industry's landscape. Addressing  a gathering at the inauguration event for the commemoration of 90 years of the Reserve bank of India (RBI) in Mumbai, PM Modi said that there may be a requirement for newer ways of "financing, operating and business models" in the changing landscape.
Zomato on Sunday stated that it has been issued a tax demand, along with interest and penalty, amounting to Rs 23.26 crore by the Assistant Commissioner of Commercial Taxes (Audit) in Karnataka. The popular online food delivery service also outlined its intention to appeal the order before the appropriate authority.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, as reported by ANI, citing sources.
Amidst speculations, the Finance Ministry has clarified that there will be no new changes in the tax regime from April 1, 2024, as the interim budget's income tax proposals take effect. In a statement posted on X (formerly Twitter), the ministry addressed confusion surrounding the new tax regime, known for its lower rates but fewer exemptions and deductions.
Prime Minister Narendra Modi on Monday (April 1) stressed on the need to study "newer banking structure" with the evolving changes in the financial industry's landscape. Addressing  a gathering at the inauguration event for the commemoration of 90 years of the Reserve bank of India (RBI) in Mumbai, PM Modi said that there may be a requirement for newer ways of "financing, operating and business models" in the changing landscape.
In a notable development, the Goods and Services Tax (GST) collection has surged by 11.5 per cent year-on-year (YoY), reaching an impressive Rs 1.78 lakh crore in the month of March. The Finance Ministry has reported that this figure marks the second-highest collection ever recorded, reflecting a robust performance in revenue generation despite prevailing economic circumstances.
Gold prices reached their all-time high globally on Monday as the latest data showing a slowing inflation trend in the US boosted expectations that the Federal Reserve could deliver its first interest rate cut in June. Indian gold futures also hit a record high on Monday, tracking gains in overseas markets and squeezing demand in the world's second-biggest consumer of the precious metal, according to dealers.
The Election Commission of India (ECI) has instructed the National Highways Authority of India (NHAI) to proceed with the calculation of new user fee (toll) rates on highways as per their annual schedule, typically commencing from April 1 each year. However, the EC has stipulated that the implementation of these new rates should be postponed until after the Lok Sabha elections.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, as reported by ANI, citing sources.
Amidst speculations, the Finance Ministry has clarified that there will be no new changes in the tax regime from April 1, 2024, as the interim budget's income tax proposals take effect. In a statement posted on X (formerly Twitter), the ministry addressed confusion surrounding the new tax regime, known for its lower rates but fewer exemptions and deductions.
Prime Minister Narendra Modi on Monday (April 1) stressed on the need to study "newer banking structure" with the evolving changes in the financial industry's landscape. Addressing  a gathering at the inauguration event for the commemoration of 90 years of the Reserve bank of India (RBI) in Mumbai, PM Modi said that there may be a requirement for newer ways of "financing, operating and business models" in the changing landscape.
In a notable development, the Goods and Services Tax (GST) collection has surged by 11.5 per cent year-on-year (YoY), reaching an impressive Rs 1.78 lakh crore in the month of March. The Finance Ministry has reported that this figure marks the second-highest collection ever recorded, reflecting a robust performance in revenue generation despite prevailing economic circumstances.
Gold prices reached their all-time high globally on Monday as the latest data showing a slowing inflation trend in the US boosted expectations that the Federal Reserve could deliver its first interest rate cut in June. Indian gold futures also hit a record high on Monday, tracking gains in overseas markets and squeezing demand in the world's second-biggest consumer of the precious metal, according to dealers.
The Election Commission of India (ECI) has instructed the National Highways Authority of India (NHAI) to proceed with the calculation of new user fee (toll) rates on highways as per their annual schedule, typically commencing from April 1 each year. However, the EC has stipulated that the implementation of these new rates should be postponed until after the Lok Sabha elections.
Mumbai: The Reserve Bank of India (RBI) reported on Monday that nearly 97.69 percent of the Rs 2000 denomination banknotes have been returned to the banking system and only Rs 8,202 crore worth of the withdrawn notes are in public circulation.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, as reported by ANI, citing sources.
Amidst speculations, the Finance Ministry has clarified that there will be no new changes in the tax regime from April 1, 2024, as the interim budget's income tax proposals take effect. In a statement posted on X (formerly Twitter), the ministry addressed confusion surrounding the new tax regime, known for its lower rates but fewer exemptions and deductions.
Prime Minister Narendra Modi on Monday (April 1) stressed on the need to study "newer banking structure" with the evolving changes in the financial industry's landscape. Addressing  a gathering at the inauguration event for the commemoration of 90 years of the Reserve bank of India (RBI) in Mumbai, PM Modi said that there may be a requirement for newer ways of "financing, operating and business models" in the changing landscape.
In a notable development, the Goods and Services Tax (GST) collection has surged by 11.5 per cent year-on-year (YoY), reaching an impressive Rs 1.78 lakh crore in the month of March. The Finance Ministry has reported that this figure marks the second-highest collection ever recorded, reflecting a robust performance in revenue generation despite prevailing economic circumstances.
Gold prices reached their all-time high globally on Monday as the latest data showing a slowing inflation trend in the US boosted expectations that the Federal Reserve could deliver its first interest rate cut in June. Indian gold futures also hit a record high on Monday, tracking gains in overseas markets and squeezing demand in the world's second-biggest consumer of the precious metal, according to dealers.
The Election Commission of India (ECI) has instructed the National Highways Authority of India (NHAI) to proceed with the calculation of new user fee (toll) rates on highways as per their annual schedule, typically commencing from April 1 each year. However, the EC has stipulated that the implementation of these new rates should be postponed until after the Lok Sabha elections.
Mumbai: The Reserve Bank of India (RBI) reported on Monday that nearly 97.69 percent of the Rs 2000 denomination banknotes have been returned to the banking system and only Rs 8,202 crore worth of the withdrawn notes are in public circulation.
As the new financial year (FY2024-25) begins on April 1, there will be changes to India's income tax regulations. With the commencement of the new financial year, the changes proposed by the Union Budget will also come into effect applicable. The changes aim to simplify the process of tax planning while providing relief to the taxpayers.  The Centre will implement the New Tax Regime as the default setting, which implies that unless individuals manually choose to abide by the old tax structure, taxes will be automatically assessed and applied according to this new system.

Financial changes effective April 1: What you need to know

Monday 01 April 2024 01:40 AM UTC+00
As the curtains draw on the financial year 2023–24, the dawn of the new fiscal year heralds a slew of financial alterations set to come into effect from April 1. Here's a comprehensive look at the key changes that will reshape personal finance in FY 2024–25:
The income tax department has unearthed a scam involving the fraudulent use of permanent account numbers (PAN) to claim house rent allowance (HRA) without actual tenancy. Around 8,000-10,000 high-value cases, each involving amounts exceeding Rs 10 lakh, have been identified so far. The investigation was triggered by the discovery of alleged rent receipts totaling approximately Rs 1 crore attributed to an individual.
Oil marketing companies have announced a reduction in prices for 19 kg commercial cylinders and 5 kg FTL (Free Trade LPG) cylinders, effective from April 1, 2024, just ahead of the Lok Sabha elections. The price of a 19 kg commercial cylinder has been decreased by Rs 30.50, with the new price set at Rs 1764.50 in Delhi starting from April 1. Similarly, the price of the 5 kg FTL cylinder has been lowered by Rs 7.50, as reported by ANI, citing sources.
Amidst speculations, the Finance Ministry has clarified that there will be no new changes in the tax regime from April 1, 2024, as the interim budget's income tax proposals take effect. In a statement posted on X (formerly Twitter), the ministry addressed confusion surrounding the new tax regime, known for its lower rates but fewer exemptions and deductions.
Prime Minister Narendra Modi on Monday (April 1) stressed on the need to study "newer banking structure" with the evolving changes in the financial industry's landscape. Addressing  a gathering at the inauguration event for the commemoration of 90 years of the Reserve bank of India (RBI) in Mumbai, PM Modi said that there may be a requirement for newer ways of "financing, operating and business models" in the changing landscape.
In a notable development, the Goods and Services Tax (GST) collection has surged by 11.5 per cent year-on-year (YoY), reaching an impressive Rs 1.78 lakh crore in the month of March. The Finance Ministry has reported that this figure marks the second-highest collection ever recorded, reflecting a robust performance in revenue generation despite prevailing economic circumstances.
Gold prices reached their all-time high globally on Monday as the latest data showing a slowing inflation trend in the US boosted expectations that the Federal Reserve could deliver its first interest rate cut in June. Indian gold futures also hit a record high on Monday, tracking gains in overseas markets and squeezing demand in the world's second-biggest consumer of the precious metal, according to dealers.
The Election Commission of India (ECI) has instructed the National Highways Authority of India (NHAI) to proceed with the calculation of new user fee (toll) rates on highways as per their annual schedule, typically commencing from April 1 each year. However, the EC has stipulated that the implementation of these new rates should be postponed until after the Lok Sabha elections.
Mumbai: The Reserve Bank of India (RBI) reported on Monday that nearly 97.69 percent of the Rs 2000 denomination banknotes have been returned to the banking system and only Rs 8,202 crore worth of the withdrawn notes are in public circulation.
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