 "banks, loans, bank regulations, fintech")
Govt to ask wellness, health influencers to display qualification
The government is raising its regulation of influencers up a notch with guidelines for those promoting brands and products related to healthcare and wellness, a burgeoning category that has a direct impact on people’s health, Rohit Kumar Singh, secretary to the department of consumer affairs, told Business Standard in an interview. Read more...
Home loan rates over Rs 75 lakh to get dearer as risk weight rises again
If you are looking to avail of home loans of above Rs 75 lakh, get ready to shell out more. Rates are set to increase further with the risk weighting on such loans returning to pre-pandemic level of 50 per cent.
In October 2020, the Reserve Bank of India (RBI) rationalised the risk weighting by reducing it to 35 per cent for loan-to-value (LTV) ratio of less than 80 per cent. The relaxation was initially offered till March 31, 2022. In the April 2022 monetary policy review, the RBI extended the relaxation till March 2023. Risk weights were assigned irrespective of the loan amount. Read more...
Google tax mop-up slips for first time to Rs 3,864 crore since inception
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India’s collection from the equalisation levy, commonly known as Google tax, witnessed a decline in the fiscal year 2022-23 to Rs 3,864 crore, against Rs 3,900 crore a year ago, because of a lower quantum of chargeable payments made by internet companies amid uncertainty over the proposed global tax deal. This is for the first time that the equalisation tax collection saw a decline since its inception in 2016-17.
The stagnation in digital tax revenue could be attributed to multiple factors, including internet companies awaiting clarity on the equalisation levy, especially after India’s deal with the US. Another reason could be that some of these firms might have found ways to avoid the tax, according to tax officials. Read more...
Sugar rush: Ex-mill prices up nearly Rs 150-200 per quintal in a month
Ex-mill sugar prices in the country surged by almost Rs 150-200 per quintal over the past month amid concerns over low output. But, this isn't causing major heartburn for stakeholders. For consumers, industry players said, retail prices would remain around Rs 42 per kg for some time now, and in case of any upward movement, the Centre could release additional quotas. Read more...
Daily Covid-19 tests up 84% in a month, just shy of 140,000 mark: ICMR data
A day before hospitals across states get ready for a mock drill, there has been a pick-up in testing numbers for Covid. Over the past month, the number of daily tests conducted rose by 84 per cent to 137,412 on a seven-day moving average basis as on April 8, shows the latest data from the Indian Council of Medical Research (ICMR).
Technicians are conducting over 60,000 more tests a day now than they were a month ago. On Sunday, health ministry data showed a slight dip in the number of positive cases at 5,357, though both daily and weekly positivity rates are still above three per cent. Read more...
