GST to benefit lower, lower-middle income class: Asian Development Bank

NEW DELHI: The goods and services tax in India will benefit the lower and lower-middle income class as it is likely to reduce the tax rate on goods, a blog posted on Asian Development Bank’s website said. It will mitigate significantly the negative impact of goods and services tax (GST) on the “bottom half” of … Read more GST to benefit lower, lower-middle income class: Asian Development Bank

Kolkata: Diamonds, rubies and jewellery seized from businessman Paras Mal Lodha’s bank locker

The Enforcement Directorate on Thursday seized a collection of diamonds, rubies and jewellery from an Alipore bank locker owned by Kolkata-based businessman Paras Mal Lodha, PTI reported. Lodha was arrested on December 22 for allegedly exchanging Rs 25 crore in old currency notes for the newly-issued cash. Officials told ANI that a probe into the … Read more Kolkata: Diamonds, rubies and jewellery seized from businessman Paras Mal Lodha’s bank locker

Lodha bank ‘locker’: Rubies, diamonds and jewellery

Continuing its operations against arrested businessman Parasmal Lodha, the Enforcement Directorate (ED) on Thursday recovered a stash of diamonds, rubies and jewellery from a bank locker allegedly belonging to him in Kolkata. The valuables were recovered from a locker at a public bank branch in Ballygunj area, and the ED is presently in the process … Read more Lodha bank ‘locker’: Rubies, diamonds and jewellery

India scraps 500 and 1,000 rupee bank notes overnight

Indian Prime Minister Narendra Modi has announced that the existing 500 and 1,000 rupee banknotes will be withdrawn from the financial system overnight. The surprise move is part of a crackdown on corruption and illegal cash holdings, he said in a nationwide address on television. “Black money and corruption are the biggest obstacles in eradicating … Read more India scraps 500 and 1,000 rupee bank notes overnight