Finance News

NPS Vatsalya growing, onboards 75,000 people since launch: PFRDA chairman

Finance Minister Nirmala Sitharaman had in September launched NPS Vatsalya, a scheme for minors to secure their future

GST Council issues clarification on proposal of taxation on popcorn

"Ready-to-eat popcorn", which is mixed with salt and spices, and has the essential character of namkeens currently attracts a 5 per cent GST if it is not pre-packaged and labelled

NPS' assets under management to touch Rs 15 trn by FY end: PFRDA Chairman

Of the 16 million NPS subscriber base, 6.2 million are from the private sector and 1.8 million from the corporate sector

GST Council defers decision to reduce tax on health, life insurance

Bihar's Deputy Chief Minister Samrat Chaudhary said another meeting of the GoM is scheduled for January before the proposal is reintroduced to the GST Council

GoM on rate rationalisation defers report submission to GST Council

It was widely expected that the GoM would submit its report to the GST Council meeting today

GST Council postpones decision on slashing tax on life, health insurance

A Group of Ministers (GOM) set up by the Council under Chaudhary, in its meeting in November had agreed on exempting insurance premiums paid for term life insurance policies from GST

Supreme Court removes 30% interest cap on late credit card bill payments

RBI stated that while it has directed banks not to charge excessive rates of interest, it does not directly regulate the rates charged by banks

Malhotra chairs his first RBI board meet; acknowledges Das' contributions

The central board of directors of the RBI reviewed the global and domestic economic situation and outlook and discussed the activities of select central office departments

States seek higher interest-free capex loans, increased borrowing limit

Infrastructure development emerged as a key focus area, with states calling for dedicated funding for state-specific road and railway projects

India's foreign exchange reserves decline by $1.9 bn to almost 6 month low

The reserves stood at $655 billion in the week ended December 6, having declined by $3.2 billion during that week

Indian companies make a beeline to raise funds from debt capital market

According to a dealer at a state-owned bank, some of the AAA-rated issuers who tapped the market today were expecting to raise funds at the levels they normally raise

Shriram Finance consolidate green finance biz under Shriram Green Finance

Building on its existing expertise in financing electric vehicles, Shriram Green Finance will provide sharper focus and clarity to its sustainability efforts

Kerala seeks Rs 24,000 cr special package to tide over liquidity crunch

Noting that elevated inflation remains a critical hurdle for growth, Balagopal also said the economy faces issues such as slow credit and deposit growth, tightening liquidity conditions, and a weaker

Law committee calls for simplification of GST registration structure

As per GSTN data, more than 98 per cent of applicants for new registration under GST either do not pass on ITC or pass on ITC within a limit of Rs 500,000 per month

Sebi eases rules for AMCs' scheme documents, cuts upload time to 8 days

Earlier, AMCs had to upload draft Scheme Information Documents (SIDs) on Sebi's website for 21 working days to receive public comments

Telangana urges Centre to simplify IT slabs, reduce corp tax for biz ease

Telangana on Friday urged the Centre to simplify the Income Tax slabs and reduce corporate tax rates to enhance ease of doing business.

RBI imposes fine on Manappuram Finance, IndusInd Bank over non-compliance

The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023

States ask FM for more funds under loan scheme, higher borrowing cap

In the Budget for 2024-25, Sitharaman had hiked the allocations for interest-free loans to states for capital expenditure, enabling states to spend more on infrastructure and specified reforms

Forex reserves drop $2 bn to $652.86 bn, a nearly six-month low: RBI data

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves

B2B payments firm Infibeam Avenues to roll out RediffPay after NPCI nod

This is the first step in the company's foray into consumer facing businesses