28.07.18 Economic News
👉PNB Scam: US Bankruptcy Court recognises the claim of Punjab National Bank on the Proceeds of any Assets of Nirav Modi that are sold there in USA and ordered summons to be Issued for Examination of the Nirav Modi and his Four Associates.
👉Services provided by Individual Direct Selling Agent, to Banking Company or NBFC located in Taxable Territory are covered under Reverse Charge Mechanism as per Notification No. 15/2018- Central Tax (Rate) dated 26th July, 2018
👉RBI is moving to shut down the Corporate Debt Restructuring (CDR) System, its Very First Loan Recast Mechanism, following its latest framework on stressed asset resolution
👉ICICI Bank posts First-Ever Quarterly Loss of Rs 120 Crore for the June 2018 quarter (Q1) as provisions for Bad Loans Doubled
👉Sajjan Jindal's JSW Steel Revises Offer for Bhushan Power & Steel to Rs 18,500 Crore. Lenders have set July 31 as the deadline for Revised Bid
👉Commerce Ministry increases Value limit for Exports through Courier Service/Post to Rs 5 Lakh/Consigment as against the Earlier Limit of Rs 25,000 per Consignment, to facilitate Exporters E-Commerce Companies use Courier Mode for High Value Shipments.
👉ITC becomes India’s Fourth Most Valued Firm in terms of Market Valuation, by surpassing Hindustan Unilever
