​NEW DELHI: A high-level committee on digital payments has suggested a tax to discourage cash transactions, a cap on the maximum allowable limit for large-size cash transactions and a complete abolition of charges on card payments to incentivise digital transactions . Some of these recommendations of the Chandrababu Naidu-headed committee of state chief ministers could find a mention in the upcoming Union Budget on February 1. The recommendations seek to [&hellip

​MUMBAI:The Ruia family faces the prospect of the group’s crown jewel, Essar Steel, slipping out of its hands as lenders and private equity investor Farallon Capital are together poised to gain a majority stake in the company that’s been struggling with debt for years. Following a deal struck by lenders and Farallon with the company last week, the PE investor is set to take a 26 per cent stake in [&hellip

​The delay may be due to the time-consuming process of physical reconciliation and the central bank may want to avoid any dispute in the final number. MUMBAI: Reserve Bank of India governor Urjit Patel earned the ire of parliamentarians on Wednesday when he declined to disclose the amount of demonetised notes that have been deposited with banks. But there may have been a strong reason for the governor’s reticence. The [&hellip

​READ MORE: SnapDeal | Jasper Infotech | Flipkart VIEW ALL 1 COMMENTS ADD COMMENT LATEST COMMENT Whose money is he burning ? Loans from Banks or shareholder funds ? – Chanakya In How Shree Cement has embraced IIoT to revamp its logistics operations Webinar: Is a massive tax overhaul in the offing in this Budget More From the ET Promoted Stories Search ET Sections Home Markets News Industry Small Biz [&hellip

​Most of the outperformers are from the mid-cap segment. At the same time, several mid-cap stocks have taken a hit in the recent past. The Sensex has risen only 1.6% in the past two years, but several mutual fund schemes have delivered good returns during the same period. How did they do it? “While the major indices have some slow moving sectors and stocks in them, some select pockets are [&hellip

​“The idea is under consideration and there is good chance it could be announced in the budget,” another official said. NEW DELHI: Among many proposals to incentivise digital transactions, a ‘cash tax’ is being considered by the government. If the proposal is cleared, it may figure in the February 1 budget. The government is weighing the pros and cons of the proposal, which could be a tweaked form of the [&hellip

​will be greatest job creator in the world: Donald Trump NEW DELHI: The first presser of US President-elect Donald Trump could put IT and pharma stocks in a tight spot when the domestic market opens for trading on Thursday. Dow Jones , which was trading near the 20,000 mark ahead of the press conference, quickly pared gains towards the end of the session. However, SGX Nifty was trading with a [&hellip

​BENGALURU: Infosys is considering building a software to help the firm target tens of thousands of potential clients, as CEO Vishal Sikka looks at breaking the downward spiral of prices in its core services business and reach the company’s ambitious target of $20 billion in revenue by 2020. Currently, Infosys has about 1,000 customers, but a lion’s share of revenue comes from just 250 of them. Even though IT companies [&hellip

​A senior official who was involved in the currency strategy from its inception told ET that “the amount of money that has come back wouldn’t have come back even in the next five years”. NEW DELHI: Forty days witnessed over two crore new bank accounts, and over Rs 3 lakh crore new deposits — that’s the big bang demonetisation impact. Data from the Financial Intelligence Unit (FIU) show that between [&hellip

​December 30 was the last day on which the public could deposit old notes with banks following the November 8 demonetisation announcement. MUMBAI: The Reserve Bank of India replaced as much as 44% of the currency extinguished by demonetisation with new notes by December 30, according to a State Bank of India report. India’s currency supply is likely to return to near normal by February end and growth, which has [&hellip