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GST rates set to increase in biggest tweak since its launch

Move will increase burden on consumers but may generate close to Rs 1 lakh crore of extra revenue.

MUMBAI

Dec 07, 2019, 12.03 PM IST

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Mumbai-Bangalore Indigo flight returned to Mumbai, currently under inspection

"An IndiGo NEO A320 aircraft was operating Mumbai-Bangalore this morning. During the flight the pilot observed a caution message. Standard operating procedures were followed and the aircraft was returned to Mumbai as a precaution," an official release said.

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  • The ACB, in its affidavit submitted in the Nagpur Bench of the Bombay High Court, has ruled out Pawar's involvement in cases of alleged irregularities in irrigation projects in the Vidarbha region.

    The letter was sent by the prime minister on Moshe's Bar Mitzvah, a ceremony performed for Jewish boys at the age of 13. Some Israeli scholars compare Bar Mitzvah with upnayana, or the thread ceremony. Moshe turned 13 as per the Gregorian calendar on November 28.

    The aircraft, flying from Mumbai to Bengaluru, was involved in an air turnback due to high vibrations in one of its engines. The plane has been grounded at Mumbai.

    The honour came on the basis of compliance of food safety and hygiene, availability of healthy diet, food handling at preparation, trans-shipment and retail/serving points, food waste management, promotion of local and seasonal foods and creating awareness on food safety and a healthy diet, said Western Railway chief spokesperson Ravinder Bhakar.

    The Economic Offences Wing (EOW) of the Mumbai Police had arrested three PMC Bank directors- Jagdish Mookhey, Mukti Bavisi and TruBane- on Tuesday. Of them, Mookhey and Bane were produced before chief metropolitan magistrate court, which remanded them in police custody till December 11.

    Reversal of credit would lead to an increase in cost by anywhere between Rs 200 to Rs 500 crore for banks.

    Rupesh Chaudhary, a retailer, told ANI: "The reason behind onion price hike is the unseasonal rains that affected many onion farmers in the country. Earlier customers used to buy onion in large quantities, but now that scenario has changed."

    In their pleas, the petitioners alleged that the RBI's decision (to put restrictions on cash withdrawal) was irrational, arbitrary and violative of the fundamental rights of common public.

    The move comes ahead of the Supreme Court hears a group of investors who have moved it on the matter, and barely three days after the National Company Law Tribunal's Mumbai bench admitted the RBI's application for initiating insolvency proceedings against the cash-strapped firm, and permitted it to go ahead in the matter.

    "The government stands behind the PMC Bank depositors. I have spoken with the MSC Bank director and asked him to consider a merger of the two banks to provide relief to the depositors," Patil told mediapersons here this afternoon. He assured that the state's apex cooperative banking entity.

    The Overnight Interest Rate Swap (OIS) with one-year maturity, a derivative gauge where investors exchange fixed rates for floating, surged 24 basis points to 5.26%, suggesting that traders do not expect any rate reduction for now. The repo rate, or the rate at which banks access funds from the lender of last resort, remained at 5.15%.

    The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.

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