India to Scrap 6% ‘Google Tax’ on Digital Advertising

By BPN News Desk March 25, 2025

Business Industry

The Indian government has proposed to eliminate the 6% equalisation levy, commonly known as the “Google tax,” on online advertising services provided by non-resident tech companies. Effective from April 1, 2025, this move comes as part of amendments to the Finance Bill and is intended to reduce

Business Finance

India Simplifies Process to Reclaim ₹78,000 Crore Deposits

By BPN News Desk March 25, 2025

In a significant move to make banking more accessible and transparent, Indian banks will soon roll out a standardized process to help account holders and their legal heirs reclaim unclaimed deposits worth over ₹78,000 crore. The initiative introduces uniform application and declaration forms, along with a fixed set of required documents, aimed at streamlining the […]

Business Finance

PCI Proposes MDR on UPI and RuPay Transactions

By BPN News Desk March 25, 2025

The Payments Council of India (PCI), a representative body of digital payment service providers, has proposed the introduction of a 0.30% Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions conducted by large merchants. MDR refers to the fee paid by merchants to banks and payment facilitators for processing digital transactions. This

Business Markets

Sensex Rallies 900 Points, Nifty Tops 23,600 on FPI Boost

By BPN News Desk March 24, 2025

Indian stock markets witnessed a robust rally on Monday, with the Sensex rising over 900 points and the Nifty surpassing the 23,600 mark. This marks the sixth straight session of gains, reflecting renewed investor confidence as foreign portfolio investors (FPIs) re-entered the market in a big way. Strong performances in banking and information technology stocks […]

Business Finance

RBI Hikes ATM Interchange Fees, Transactions May Cost More

By BPN News Desk March 24, 2025

The Reserve Bank of India has approved an increase in ATM interchange fees, which may result in costlier ATM transactions for customers starting May 1. Financial transaction fees will increase by ₹2, while non-financial transactions will rise by ₹1. This move is expected to particularly affect banks with smaller ATM networks, as they may incur […]

Business Trade

India Imposes Anti-Dumping Duties on Four Chinese Products

By BPN News Desk March 23, 2025

India has announced the imposition of anti-dumping duties on four Chinese products to safeguard local manufacturers from the adverse effects of cheap imports. The move comes after detailed investigations confirmed that the goods were being dumped into the Indian market at prices below fair market value, harming domestic producers. The Ministry of Finance has formalized

Finance

Rising Gold Prices Turn SGBs into Fiscal Burden

By BPN News Desk March 22, 2025

India’s Sovereign Gold Bond (SGB) scheme, once praised for its innovation and potential to curb gold imports, is now turning into a fiscal challenge for the government. As global and domestic gold prices continue to rise sharply, the liabilities linked to the scheme have ballooned, forcing policymakers to reconsider the future of this gold-linked investment […]

Business Industry

Bangladesh Textile Industry Hit Hard by Political Unrest

By BPN News Desk March 22, 2025

Bangladesh’s textile industry, the largest contributor to its export earnings and a critical driver of employment, is under significant strain following recent political upheaval. The change in leadership and new policy directions under the interim administration have triggered concern across the sector, with growing fears of widespread layoffs, factory shutdowns, and loss

Business Industry

X Challenges Indian Government’s Use of IT Act for Content Blocking

By BPN News Desk March 20, 2025

X Corp, formerly known as Twitter, has filed a legal petition against the Indian government in the Karnataka High Court, challenging the use of Section 79(3)(b) of the Information Technology (IT) Act for content blocking. The company argues that this practice creates an unlawful mechanism that bypasses established legal procedures and violates the Supreme Court’s

Business Finance

New GST Rule Mandates Input Service Distributor Mechanism from April 1

By BPN News Desk March 20, 2025

The Indian government is set to implement a crucial change in the Goods and Services Tax (GST) framework, making it mandatory for businesses to adopt the Input Service Distributor (ISD) mechanism for the distribution of common Input Tax Credits (ITC) starting April 1, 2025. This change aims to streamline tax credit allocation, improve compliance, and […]