The government proposed to bring down its holding in state-owned banks by launching an exclusive PSU Banks ETF (Exchange Traded Fund), sometime at the end of the third quarter period of the current financial year, said a news agency report quoting sources said.
Congratulating Narendra Modi for leading the NDA to a convincing victory in the Lok Sabha elections, ASSOCHAM President B K Goenka said the second term of the government would be highly beneficial for the economy.
In a positive development, the US Treasury Department has removed India from its currency monitoring list of major trading partners.
Monetary Policy Committee to meet on June 3 to decide on key interest rates.
The RBI May 29 extended minimum holding period requirement for NBFCs to raise funds via loan securitisation to help the sector overcome liquidity shortage.
On Wednesday, GST Network released a demo tool for the new and simplified return filing form which is expected to be launched sometime later this year. The prototype, (that is available on webportal https://demoofflinetool.gst.gov.in) gives its stakeholders a feel of what the new return filing system will work.