Indian Bank opens branch at Khandagiri
Bhubaneswar: Indian Bank opened its 100th Branch in Odisha at Khandagiri here Wednesday. State minister of finance, excise and public enterprises Shashi Bhusan Behera, tourism and culture minister Ashok Chandra Panda, Subash Singh, Chairman, Odisha Building & Constructions Workers’ Welfare Board were guests of honour at the inaugural function. NK Mishra, Zonal Manager, Indian Bank and Vallery Rath, Deputy Zonal Manager of Indian Bank, Bhubaneswar Zone, also participated. The bank also inaugurated an ATM alongside the branch.
Bajaj launches 2 Discover bikes
New Delhi: Bajaj Auto Wednesday launched its new Discover 110 and Discover 125 models priced between Rs50,496 and Rs56,314 (ex-showroom Maharashtra) with an eye on strengthening presence in premium executive segment. The Discover 110 model, powered by 115.5 cc engine will be available for Rs 50,496, while Discover 125 with a 124.5 cc power unit is priced between Rs 53,491 and Rs 56,314 for drum and disc version, respectively (Ex-showroom Maharashtra), the company said in a statement. Commenting on the launch, Bajaj Auto Ltd President (Motorcycles) Eric Vas said: “Bajaj has made a significant impact in the 100 cc segment with the Platina Comfortech & CT 100. The new Discover 110 and 125 bring first time ever features to customers in the 100-125 cc segment for a premium experience.”
Maruti Suzuki hikes prices between Rs1,700 and Rs17,000
New Delhi: Carmaker Maruti Suzuki India (MSI) Wednesday said it has increased prices of its models by up to Rs17,000 to partially offset rise in input costs. In a regulatory filing, it said the hike will range between Rs1,700 and Rs17,000 across models owing to increase in commodity, administrative and distribution costs. The company had said last month that it will take a price increase from this month. Tata Motors has already increased prices of its vehicles by up to Rs25,000 from January 1. Various automakers, including, Hyundai Motor India, Honda Cars, Mahindra & Mahindra have already announced to increase prices from this month. These companies are, however, yet to announce price increase for their respective vehicles.
Govt seeks views on national mineral policy
New Delhi: The government Wednesday said it has invited suggestions from the stakeholders on the draft national mineral policy. Suggestions are invited “from the general public, governments of states and union territories, mining industry, stakeholders, industry associations, and other persons and entities concerned, on the draft national mineral Policy,” the mines ministry said in a statement. The last date for receipt of the comments is February 9, the ministry said. The panel was mandated to review the National Mineral Policy, 2008, and suggest a new framework. The panel was formed in line with a Supreme Court directive asking the government to take a fresh look at the policy in question. “The term of the committee was extended up to December 31, 2017. The committee submitted the report to Ministry of Mines on December 31, 2017 suggesting a draft National Mineral Policy,” the mines ministry said.
No extension of GSTR-1 filing deadline: FinMin
New Delhi: The finance ministry Wednesday said that there is no extension of the due date for filing GST final returns and the deadline ends tonight. The clarification comes after social media went abuzz with a fake notification which stated that the deadline for filing GSTR-1 has been extended. “The last date for filing of return in FORM GSTR-1, for different classes of taxpayers for the relevant periods… remains January 10, 2018. There has been no further extension of date for filing return in FORM GSTR-1,” a finance ministry statement said. Taxpayers may note that there is a fake notification regarding extension of date being circulated on social media. No extension of the last date for filing of GSTR-1 has been given, it added.
BSE, NSE to launch IRF contracts today
Mumbai: Leading Exchanges BSE and NSE will launch a new interest rate futures (IRF) contracts offering 7.17 per cent yield on government bonds, from Thursday. The 10-year-bencmark bonds would mature on January 8, 2028, BSE and NSE said in separate circulars. An IRF is a contract between a buyer and a seller agreeing to the future delivery of any interest-bearing asset such as government bonds. The cash-settled IRFs provide market participants an option to hedge risks arising from fluctuations in interest rates, which depend on various factors, including the RBI policy, demand for liquidity and flow of overseas funds. “Interest rates futures contracts based on 7.17 per cent government bonds, maturing on January 8, 2028 will be made available for trading with effect today,” the circulars from the exchanges said. Banks, primary dealers, mutual funds, insurers, FIIs, corporates and brokers, as well as retail investors trade in this product.
