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Jammu: Jammu Chamber of Commerce and Industry has objected to levying of Property Tax in JK and appealed to the government to withdraw the decision. They warned the Government of intensified protest if the Government does not roll back the law. In a press conference in Jammu, the president of the chamber, Arun Gupta, said that people of Jammu Kashmir, especially traders, have been going through an economic crisis for the last one and a…

Admin simplifies business establishment process Opens Door for Investors with Ambitious Business Reforms Admin eliminates requirement of NoCs to set up industry, introduces Single Window System Timely disposal of facilitation like Electricity, Water to be provided  Jammu: In a bold move to revive the business sector and boost investor confidence with a business-friendly environment, the Administrative Council (AC), which met under the Chairmanship of Lieutenant Governor, Manoj Sinha on Saturday approved a series of measures…

Despite higher COVID-related provisioning, J&K Bank has posted profit for the third consecutive quarter of the current financial year. The bank stated this today after its Board of Directors reviewed and approved the 3rd quarter and nine-month results (31 December 2020) at a meeting at bank’s corporate headquarters, here. Backed by higher Net Interest Income (NII), the Bank’s profit is up by 32.84% YoY at Rs 65.94 Cr against Rs 49.64 Cr recorded for the…

The Reserve Bank of India (RBI) will now have to let the yields spike, unlike 2020 when it could tame it under 6 per cent, according to a report on Monday. The central bank, responsible for the issue and supply of the Indian rupee and the regulation of the country’s banking system, is tasked with managing a high flow of central government papers to the tune of Rs 12.1 lakh crore next fiscal year (FY).…

Srinagar: A local marketplace, e-commerce website, Jhelum Cart launched their application here at Aksa Mall on Sunday. The website claims to provide a foolproof e-commerce platform, safe and enjoyable for both buyers and sellers with themes to achieve efficiency, user-friendliness and empowerment. The application is owned by a trio of friends, Ahmed Nabeel, Naveed Qadir Wani and Arif Ahmed Najar. Co-founder of the website, Ahmed Nabeel said, “we tend to complain a lot about the…

Part of the shares in JKB that were owned by Govt of JK to be transferred Srinagar: J&K Bank on Tuesday said its board has given in-principle approval to transfer 8.23 per cent stake to Union Territory of Ladakh. The board decided “to give its ‘In-principle approval’ for implementation of General Administration Department, Govt. of Jammu and Kashmir… in terms of which ownership of 8.23 per cent out of its (J&K Govt.) shareholding in Jammu…

On May 27, Zubair was told by the Finance department to stop coming to the office ‘for a while’ as RBI ‘will give clearance within few days’. After six months of wait, he is yet to receive the promised clearance  Uncertainty looms large over the appointment of Zubair Iqbal as JK Bank’s first Managing Director as Reserve Bank of India (RBI) drags its feet over sending clearance for his appointment even after a six-month delay.…

The current year 2020 can be considered as a black year for the economies all around the globe. As if the loss of human lives was not enough, the global lockdown disrupted the economies. International trades were banned, and survival became a task. Not just small scale businesses but large scale industries too suffered heavy losses. Many industries were shut down, and the prices of essential commodities were soaring high. Even the wage workers left…

New Delhi: With Reliance Industries emerging as the biggest laggard, nine of the top 10 most valued companies witnessed a combined erosion of Rs 1,63,510.28 crore in market valuation last week. During the week, the BSE benchmark index Sensex had tumbled by 1,071.43 points or 2.63 per cent, news agency PTI reported. Except for Kotak Mahindra Bank, whose market capitalisation (m-cap) rose by Rs 32570.94 crore to Rs 306331.09 crore, other nine firms among the…