Banks cut rate

Mumbai, Sept. 30: Private lender Axis Bank today cut its base rate, or minimum rate of lending, by 0.35 per cent to 9.50 per cent. Also, state-run lenders Punjab National Bank has cut rate by 0.40 per cent, Bank of Baroda by 0.25 per cent and Oriental Bank of Commerce by 0.20 per cent in response to the RBI's policy rate cut.

WTO outlook

Geneva, Sept. 30: The WTO today lowered its trade growth forecast to 2.8 per cent from 3 per cent for this year because of falling import demand and lower commodity prices in the global market. It has also lowered the trade growth projection for 2016 to 3.9 per cent from 4 per cent.

Tax filing easy

New Delhi, Sept. 30: The CBDT has simplified the procedure for filing of self declaration by individuals in 15G and 15H forms, allowing them to do it electronically. 15G and 15H forms are filed by those whose incomes are below taxable threshold, to seek exemption from TDS on interest income.

Cairn case

New Delhi, Sept. 30: The Centre has decided to join the arbitration initiated by Cairn Energy plc over a Rs 10,247- crore tax demand and will soon appoint its arbitrator.