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Business Briefs

GST panel chief

New Delhi, July 17: The empowered committee of the state finance ministers will meet on Monday after a gap of almost five months to elect a new chairman to replace Asim Dasgupta, who was defeated in the Bengal assembly elections. Finance minister Pranab Mukherjee will preside over the meeting and try to build a consensus on the implementation of the long-pending goods and services tax (GST).

Bank strike

Coimbatore, July 17: The United Forum of Bank Unions has decided to go on a one-day nationwide strike on August 5 as part of its protest over the Banking Law (Amendment) Bill, which focused on industries while issuing loans and neglected other sectors such as education and agriculture.

Service tax

Mumbai, July 17: The finance ministry plans to bring more professions in the services sector under the tax net, the ministry’s joint secretary V.K. Garg said at an Assocham event.

EPF custodian

New Delhi, July 17: The Employees’ Provident Fund Organisation’s apex decision making body — the Central Board of Trustee — is likely to appoint a separate custodian for its securities by the end of this month.

Citi woes

New York, July 17: Banking major Citigroup has exposure of at least $22 billion to five European nations — Greece, Ireland, Portugal, Spain and Italy — grappling with debt woes.


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