Posing fresh complications for India, absconder diamantaire Mehul Choksi, one of the prime accused in the Rs 13,500 crore Punjab National Bank (PNB) fraud, has surrendered his Indian citizenship in favour of Antigua & Barbuda Isles in the West Indies, official sources said here on Monday. ....

State-run oil marketing companies increased petrol rates by 23 paise per litre while diesel prices went up by 29-31 paise across the four major metros, making it among the sharpest hikes ever since rates had been rising this month following a prolonged period of fall. ....

A court-appointed auditors informed the Supreme Court that posh flats which were part of Amrapali Group were booked on sums as low as Re 1, Rs 5 and Rs 11 per sq.ft in the name of over 500 people. ....

India's annual rate of inflation based on wholesale prices eased to 3.80 per cent in December 2018 from 4.64 per cent in November, official data showed here on Monday. ....

In a further relief to the micro, small and medium (MSME) sector, the threshhold limit for eligibility under the GST Composition Scheme was raised to Rs 1.5 crore, from Rs 1 crore, by the GST Council on Thursday and will apply from the 2019-20 fiscal beginning April 1. ....

Assuring adequate liquidity measures whenever the need arises RBI Governor Shaktikanta Das on Monday noted that liquidity should not become "loose money" and the apex bank would excercise the measures with caution. ....

In a significant victory for the investigating agencies, a Mumbai Special Court on Saturday declared absconder liquor baron Vijay Mallya a 'fugitive' under the Fugitive Economic Offenders Act, 2018. ....

Passing on a new year gift of reduction in global gas prices to consumers, state-run Indian Oil Corp (IOC) on Monday announced a major cut of Rs 120.50 in the rates of non-subsidised LPG cylinders. ....

Former Finance Minister P. Chidambaram on Wednesday raised questions about what caused the change in the "declared goals" of the Goods and Services Tax (GST) regime, why it was being changed. ....

The Goods and Services Tax (GST) Council on Saturday decided to form a seven-member Group of Ministers (GoM) to study anomalies in tax collection in some of the states which showed wide deviation from what was expected. ....