Finance

Sukesh Chandrasekhar Seeks to Declare $2.7B Overseas Income

By BPN News Desk January 13, 2025

In a surprising development, jailed conman Sukesh Chandrasekhar has written to Finance Minister Nirmala Sitharaman, seeking permission to declare an overseas income of $2.7 billion. Chandrasekhar, who is currently in prison for multiple fraud cases, expressed his willingness to pay taxes on the declared amount, aiming to comply with Indian tax regulations. Chandrasekhar’s

Finance

India’s Direct Tax Collections Surpass Estimates by ₹73k-83k Crore

By Editor - News Desk January 13, 2025

India's direct tax collections for FY2024-25 exceed budget estimates by ₹73,000-83,000 crore, though tax buoyancy shows a decline.

Finance

FPIs Withdraw ₹22,194 Crore in January Amid Market Uncertainty

By BPN News Desk January 12, 2025

Foreign portfolio investors (FPIs) have pulled out ₹22,194 crore from Indian equities in January 2025, marking a significant outflow attributed to a weak corporate earnings outlook and the strengthening of the US dollar. The large-scale withdrawal reflects investor caution amid global and domestic uncertainties impacting the equity markets. Weak Earnings and Global

Finance

India’s Forex Reserves Decline by $5.69 Billion to $634.58 Billion

By BPN News Desk January 12, 2025

India's forex reserves fall by $5.69 billion, reaching $634.58 billion.

Finance

Mutual Fund SIP Inflows Cross ₹26,000 Crore for First Time

By BPN News Desk January 11, 2025

For the first time in India’s financial history, monthly inflows into mutual fund Systematic Investment Plans (SIPs) have surpassed the ₹26,000 crore mark. This milestone reflects growing investor confidence in equity markets and the increasing popularity of SIPs as a disciplined investment tool. Record-Breaking SIP Inflows In December 2024, mutual fund SIP inflows reached

Finance

Rupee May Breach 90 Against Dollar Amid RBI Policy Shift

By BPN News Desk January 11, 2025

The Indian rupee is poised for further depreciation, potentially breaching the 90-per-dollar mark, as the Reserve Bank of India (RBI) appears to ease its long-standing intervention strategy in the forex market. The shift comes amid evolving global economic conditions and rising concerns over India’s trade deficit and inflation. RBI’s Changing Forex Strategy

Finance

RBI Eases Restrictions on Select NBFCs Following Compliance Improvements

By Editor - News Desk January 11, 2025

RBI lifts curbs on certain NBFCs after enhanced regulatory compliance.

Finance Government Policies

RBI Mandates Banks to Offer Fixed Interest Rate Loan Products

By Editor - News Desk January 11, 2025

RBI requires banks to provide fixed interest rate loan options to customers.

Finance

Supreme Court Stays GST Notices Against Online Gaming Firms

By BPN News Desk January 10, 2025

In a significant decision, the Supreme Court of India has stayed GST notices amounting to over ₹1 lakh crore issued to several online gaming firms for alleged tax evasion. The court’s interim relief comes as a major reprieve for the industry, which has been under scrutiny for its taxation practices. GST Notices Target Online Gaming […]

Finance

India’s Digital Payment Strategy Challenges Visa and Mastercard

By Editor - News Desk January 10, 2025

India’s digital payment landscape is undergoing a significant transformation, with indigenous platforms like the Unified Payments Interface (UPI) and RuPay gaining prominence. This shift is impacting the market share of global payment giants Visa and Mastercard. Rise of UPI and RuPay UPI, launched in 2016, has become a dominant force in India’s digital payments