Briefly Business

Nearly a year after the soft launch as a limited-service debit card,the Rupay Card,which is the domestically developed equivalent of the Visas and MasterCards of the world.

Rupay Card commercial launch by fiscal end

Mumbai: Nearly a year after the soft launch as a limited-service debit card,the Rupay Card,which is the domestically developed equivalent of the Visas and MasterCards of the world,will offer full-service debit card services by the end of this fiscal. Since April,the card has been in use mostly by cooperative banks offering limited service.

MSME Min takes up tax issues of PE players

New Delhi: The MSME ministry has asked the finance ministry to resolve the double-taxation issue faced by private equity investors,who want to invest in the sector which contributes about 8 per cent to the economy,an official said.

Nine lakh service tax payers not filing returns

New Delhi: The Revenue Department is trying to locate 9 lakh business entities which have stopped filing service tax returns,with a view to improving collections,meeting Rs 82,000-crore target in 2011-12 and to ascertain whether there is any tax evasion.

SAIL to invest Rs 10,264 cr to develop mines

New Delhi: Steel Authority of India Ltd SAIL will invest Rs 10,264 crore to develop mines catering to its increased raw material requirement upon completion of an ambitious expansion programme.

Honda to roll out cars from Rajasthan in 2-3yrs

New Delhi: Japanese car-maker Honda expects its second Indian facility at Tapukara,in Rajasthan,to start rolling out vehicles within the next 2-3 years after being put on hold indefinitely due to the global slowdown of 2008.

Essar posts 49 jump in H1 earnings to 477.9 mn

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New Delhi: Essar Energy Plc today reported a 49 per cent jump in earnings for the first half of 2011 on the back of higher refinery margins,but the London-listed firm said it continues to battle delays related to regulatory approvals for its projects.

Sebi imposes Rs 150 fee on new MF investments

Mumbai: Market regulator Sebi on Monday said new investors will now have to pay an extra Rs 150 for investment of Rs 10,000 and above in mutual funds,while the charge will be Rs 100 for existing investors.

Toyota,Ford to collaborate on hybrid trucks

DETROIT: Toyota Motor Corp and Ford Motor will work together to develop hybrid trucks and SUVs that will be ready for market by the end of the decade,the two companies said on Monday. Ford and Toyota plan to collaborate on product development for the future rear-wheel drive hybrid vehicles.