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Bank of Baroda has declared Reliance Communications' loan accounts, along with Anil Ambani, as fraudulent due to alleged fund misutilisation and improper transactions. This action follows similar declarations by SBI and Bank of India. Anil Ambani Group denies the allegations, asserting they will contest the claims in court, citing a consortium of 14 lenders and delayed proceedings.
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News and Media
Finance Minister Nirmala Sitharaman announced a new dual-slab GST structure expected to significantly boost India's economy. The government is also preparing a package for US tariff-affected export sectors and relentlessly working on next-generation policy changes. While not directly addressing tariff issues, the GST reform is anticipated to spur demand and provide some relief to affected sectors.
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News and Media
U.S. stocks are slipping Friday as Wall Street questions whether the U.S. job market has slowed by just enough to get the Federal Reserve to cut interest rates to help the economy, or by so much that a downturn may be on the way.
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News and Media
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