Shipbuilding industry to get more tax incentives

New Delhi

The government will provide more indirect tax incentives to the domestic shipbuilding industry. A statement of the Finance Ministry said the new sops include exemption from customs and central excise duties on all raw material and parts for use in the manufacture of ships and vessels. TNS

Mumbai

NBFC-MFIs to give loans of Rs 30,000 for larger tenure NBFC micro finance lenders can now give loans of up to Rs 30,000 for tenure not less than 24 months as the RBI has doubled the amount limit for these debts. Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs) had made representations to the RBI seeking revision of the loan amount with tenure not less than 24 months.  PTI

New Delhi

Ola hires Infosys' former executive as CFO

Ola, India's biggest ride-hailing service, said on Thursday it had appointed former Infosys Ltd executive Rajiv Bansal as chief financial officer, joining other technology start-ups attracting top officials from leading companies. Rajiv, former finance chief and advisor to the chief executive of Infosys, will join Bangalore-based Ola in January. reuters

New Delhi

Trai issues consultation paper for spectrum auction

Telecom regulator Trai on Thursday issued a consultation paper for valuation and reserve price of spectrum in seven bands, including 700, 900 and 2100 megahertz, for the next round of auctions. PTI