India Considers GST Hike on Tobacco Products Post Compensation Cess

By BPN News Desk February 20, 2025

Business Finance

The Indian government is evaluating a proposal to increase the Goods and Services Tax (GST) on tobacco products, including cigarettes, following the scheduled conclusion of the compensation cess in March 2026. This initiative aims to maintain consistent tax revenue from the tobacco sector after

Business Finance

India Reduces Customs Duty on Bourbon Whiskey to 50%

By BPN News Desk February 14, 2025

In a significant policy shift, India has announced a reduction in customs duty on bourbon whiskey imports from 150% to 50%. This decision, effective from February 13, 2025, is part of India’s broader strategy to strengthen trade ties with the United States. Details of the Duty Reduction The revised tariff structure imposes a basic customs […]

Business Finance

Rupee Rises Above 87 Against USD After RBI Intervention

By BPN News Desk February 11, 2025

The Indian rupee reclaimed the 87-mark against the U.S. dollar in early trade, supported by aggressive intervention from the Reserve Bank of India (RBI). The central bank’s actions helped reverse recent losses, bringing temporary relief to the currency amid global economic pressures. RBI’s Intervention and Market Response The rupee had recently faced downward

Business Finance

RBI Introduces Exclusive Domains to Enhance Digital Payment Security

By BPN News Desk February 9, 2025

In a strategic move to bolster digital payment security and mitigate rising cyber threats, the Reserve Bank of India (RBI) has announced the introduction of exclusive internet domains for financial institutions. This initiative aims to enhance trust in digital banking and payment services. Addressing Rising Digital Payment Frauds The RBI has expressed significant concern

Business Finance

RBI Governor Highlights Need to Enhance Credit Accessibility

By BPN News Desk February 9, 2025

In a recent address, Reserve Bank of India (RBI) Governor Sanjay Malhotra emphasized the central bank’s ongoing commitment to facilitating credit accessibility within the financial system. He acknowledged that while efforts have been made, there remains “room for improvement” in ensuring the ease of credit for businesses and individuals. RBI’s Focus

Business Finance

Cabinet Set to Approve New Income Tax Bill for Reforms

By BPN News Desk February 6, 2025

The Union Cabinet is set to approve a new Income Tax Bill on February 7, with plans to introduce it in the Lok Sabha during the ongoing Budget session. This bill seeks to replace the existing Income Tax Act of 1961 with a more streamlined and taxpayer-friendly system. Objective of the New Tax Bill The […]

Business Finance

GST Fraud Racket Uncovered: Fake Invoices Worth ₹658.55 Crore Detected

By BPN News Desk February 5, 2025

In a significant crackdown on tax evasion, the Central GST Itanagar Commissionerate has unearthed a fraudulent scheme involving the issuance of fake invoices valued at ₹658.55 crore without any actual supply of goods. This illicit activity has resulted in an estimated loss of approximately ₹100 crore to the government exchequer. Discovery of the GST Fraud […]

Business Finance

Rupee Falls to Record Low as US Tariffs Shake Markets

By BPN News Desk February 3, 2025

The Indian rupee has depreciated to a record low of 87.29 against the US dollar, following heightened global trade tensions. The sharp decline is attributed to new US tariffs on major trading partners, which have caused uncertainty in financial markets and increased demand for the dollar. US Tariffs and Market Reaction The United States recently […]

Finance

Indian Stock Market Suffers Rs 24 Lakh Crore Wipeout

By BPN News Desk January 31, 2025

The Indian stock market has witnessed a sharp decline, erasing Rs 24 lakh crore in valuation amid a prolonged losing streak, making it the worst market downturn since 2001. Investors have been hit hard as benchmark indices continued their downward trajectory due to concerns over global economic uncertainties and domestic market volatility. “This is the […]

Finance

UPI’s Remarkable Growth in India’s Digital Payments

By Editor - News Desk January 28, 2025

Since its inception in 2016, the Unified Payments Interface (UPI) has revolutionized India’s digital payment ecosystem, experiencing exponential growth over the past five years. In 2019, UPI accounted for 34% of the country’s digital transactions; by 2024, this figure had surged to an impressive 83%. In 2024 alone, India recorded 208.5 billion digital payment