GST Council to Consider Full Insurance GST Exemption Ahead of Monsoon Session

By BPN News Desk June 9, 2025

Business Finance

The Goods and Services Tax (GST) Council is likely to consider a proposal to fully exempt term life insurance and health insurance for senior citizens from GST in its upcoming meeting. The council is expected to take this up before the start of the monsoon session of Parliament, as part of a

Business Finance

SBI Transfers ₹8,076.84 Cr Dividend to Govt in FY25

By BPN News Desk June 9, 2025

The Government of India has received a dividend of ₹8,076.84 crore from the State Bank of India (SBI) for the financial year 2024–25. This payment marks a significant increase from the ₹6,959 crore received in FY24, reflecting SBI’s sustained financial performance and continued role as a vital revenue contributor for the central exchequer. The cheque […]

Business Finance

GST Council Plans to Scrap 12% Slab, Shift Items to 5% or 18%

By BPN News Desk June 5, 2025

The Goods and Services Tax (GST) Council is actively considering eliminating the 12% tax slab from India’s four-tier GST rate structure. The current system includes 5%, 12%, 18%, and 28% slabs. If implemented, the proposal would move all goods and services currently taxed at 12% into either the 5% or 18% brackets. This rationalisation is […]

Business Finance

UPI Set to Surpass Visa in Daily Transactions

By BPN News Desk June 4, 2025

India’s Unified Payments Interface (UPI) is on the brink of overtaking global financial giant Visa in terms of daily transaction volumes, marking a transformative moment in the global digital payments landscape. On June 1 and 2, UPI processed 644 million and 650 million transactions respectively, pushing it within striking distance of Visa’s global daily average […]

Business Finance

UPI Transactions Reach ₹25.14 Lakh Crore in May

By BPN News Desk June 4, 2025

India’s digital payment ecosystem reached a new peak in May 2025, as Unified Payments Interface (UPI) transactions touched a record value of ₹25.14 lakh crore. This marks a significant milestone in the country’s shift toward a cashless economy, with more individuals and businesses embracing digital transactions at unprecedented levels. UPI Transactions May The month

Business Finance

RBI May Slash Repo Rate by 50 bps to Spur Credit Growth

By BPN News Desk June 3, 2025

The Reserve Bank of India is widely expected to implement a sharp 50 basis point cut in the benchmark repo rate during its upcoming monetary policy review on June 6. The projection, made by the Economic Research Department of the State Bank of India, marks a significant shift toward monetary easing aimed at reviving a […]

Business Finance

India’s GST Collections Hit Record ₹2.37 Lakh Crore in April

By BPN News Desk May 2, 2025

India’s Goods and Services Tax (GST) revenue hit a historic peak in April 2025, with collections soaring to ₹2.37 lakh crore. This marks a 12.6% year-on-year growth from April 2024 and represents the highest monthly GST collection since the system was launched in 2017. The surge was led by strong domestic consumption and robust imports, […]

Business Finance

RBI Empowers Minors Aged 10+ to Independently Operate Bank Accounts

By BPN News Desk April 22, 2025

In a major step towards promoting early financial literacy, the Reserve Bank of India (RBI) has allowed minors aged 10 years and above to independently open and operate their own savings and term deposit accounts. This progressive move aims to instill financial discipline and awareness among children at a younger age. Independent Access for Minors […]

Business Finance

Enforcement Directorate to Restitute ₹15,000 Crore to Fraud Victims in 2025-26

By BPN News Desk April 21, 2025

In a significant move aimed at bolstering financial justice, the Enforcement Directorate (ED) has announced plans to restitute ₹15,000 crore worth of assets to victims of financial fraud during the fiscal year 2025-26. This initiative underscores the agency’s commitment to returning ill-gotten gains to those adversely affected by economic crimes. ED Asset Restitution

Business Finance

CBIC Launches Crackdown on Suspicious GST Registrations, Strengthens Indirect Tax Enforcement

By BPN News Desk April 19, 2025

The Central Board of Indirect Taxes and Customs (CBIC) has launched a nationwide crackdown on suspicious GST registrations and non-compliant taxpayers in a renewed push to curb tax evasion and improve the integrity of India’s indirect tax system. The move comes amid rising concerns over the misuse of fake invoices and fraudulent input tax credit […]