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

Finance

India Moves Towards Trust-Based Tax Assessment System

By BPN News Desk January 10, 2025

India is making significant strides in transforming its tax system by introducing a trust-based tax assessment model. The approach aims to reduce scrutiny, simplify the tax filing process, and foster trust between taxpayers and authorities. This shift aligns with the government’s broader objective of creating a taxpayer-friendly environment while ensuring compliance and

Finance

Microfinance Institutions Urge RBI to Relax Regulatory Norms

By BPN News Desk January 10, 2025

Microfinance institutions (MFIs) in India are appealing to the Reserve Bank of India (RBI) to relax certain regulatory norms that they believe are hindering their operations and growth. This request comes amid challenges faced by the sector in extending credit to underserved populations. Key Concerns Raised by MFIs Stringent Capital Adequacy Requirements: MFIs argue that

Finance

CII President Anticipates RBI Interest Rate Cut; Urges Budget Focus on Job Creation

By Editor - News Desk January 9, 2025

Sanjiv Puri, President of the Confederation of Indian Industry (CII), has expressed expectations that the Reserve Bank of India (RBI) will reduce benchmark interest rates in the coming month to stimulate economic growth. He emphasized the necessity for the forthcoming Union Budget 2025-26 to concentrate on job creation, particularly through targeted interventions in

Finance

Finance Ministry to Review Flagship Schemes with Public Sector Banks Ahead of Budget

By Editor - News Desk January 9, 2025

In preparation for the Union Budget for the financial year 2025-26, the Finance Ministry has scheduled a meeting on January 15 with the Managing Directors and Chief Executive Officers of public sector banks (PSBs). The session, to be chaired by M. Nagaraju, Secretary of the Department of Financial Services (DFS), aims to evaluate the progress […]

Finance

Rupee Hits Record Low Amid Strengthened Dollar

By BPN News Desk January 9, 2025

The Indian Rupee has hit an all-time low against the US Dollar, reflecting heightened global economic uncertainties and domestic market volatility. The currency’s sharp decline has raised concerns among policymakers and market participants, with broader implications for inflation and trade. Dollar Strength and Market Volatility The rupee’s depreciation is primarily