Business Finance

Rising Health Insurance Costs and GST Prompt Indians to Drop Coverage

By BPN News Desk April 6, 2025

A growing number of Indians are stepping away from the safety net of health insurance as rising premiums, steep Goods and Services Tax (GST), and inconsistent claim approvals make coverage increasingly unaffordable and unreliable. This shift signals a troubling trend in a country where healthcare expenses are on the rise, and insurance should ideally act […]

Business Finance

CBDT Recovers ₹92,400 Crore in Outstanding Taxes Ahead of Fiscal Year-End

By BPN News Desk April 1, 2025

The Central Board of Direct Taxes (CBDT) has recovered ₹92,400 crore in outstanding taxes up to March 15, 2025, in a major push to meet revenue targets before the financial year ends. This aggressive recovery drive has brought in ₹67,711 crore from corporate tax dues, ₹23,536 crore from personal income tax, and ₹1,100 crore from […]

Business Finance

Nirmala Sitharaman to Launch NITI-NCAER State Finances Portal

By BPN News Desk April 1, 2025

Finance Minister Nirmala Sitharaman will launch the NITI-NCAER States Economic Forum portal on April 1, a collaborative initiative between NITI Aayog and the National Council of Applied Economic Research (NCAER). This new digital platform is designed to provide extensive access to nearly 30 years of data covering the fiscal, economic, and social landscape across all […]

Business Finance

Maharashtra Cooperative Banks Struggle with ₹101 Crore in Demonetised Currency

By BPN News Desk March 31, 2025

Eight district central cooperative banks (DCCBs) in Maharashtra are currently holding approximately ₹101.2 crore in demonetised ₹500 currency notes, a predicament persisting for over eight years. The Kolhapur DCCB holds the largest portion, amounting to ₹25.3 crore, followed by the Pune DCCB with ₹22.2 crore.​ Challenges in Safekeeping Demonetised Notes These banks face

Finance

Centre Advises States, Ministries Against Direct Engagement with International Financial Institutions

By BPN News Desk March 31, 2025

Centre directs states and ministries to route all dealings with International Financial Institutions through the DEA to maintain consistency, strategy, and economic sovereignty.

Finance

Indians Borrow ₹15.3 Lakh Crore in 11 Months, Industrial Sector Trails

By BPN News Desk March 31, 2025

Indian banks provided ₹15.3 lakh crore in loans over 11 months, driven by personal borrowing and services, as industrial lending showed slower growth amid cautious investment trends.

Business Finance

Egg Seller and Juice Vendor Slapped with Crores in GST Dues Due to Alleged Identity Theft

By BPN News Desk March 29, 2025

In a bizarre and troubling turn of events, two small-time vendors—an egg seller from Madhya Pradesh and a juice vendor from Uttar Pradesh—have received GST notices demanding payment of taxes running into crores of rupees. Both cases appear to be instances of identity theft, where their personal documents may have been misused to register shell […]

Business Finance

India Advocates for Eased Compliance to Expand UPI in International Payments

By BPN News Desk March 29, 2025

India is intensifying its push to globalize the Unified Payments Interface (UPI) by seeking regulatory support to ease cross-border compliance requirements. The goal is to position UPI as a credible global rival to entrenched payment systems like Visa, Mastercard, and SWIFT by simplifying international transaction frameworks and promoting broader adoption. UPI’s

Business Finance

Banking Laws Amendment Bill: Rajya Sabha Approves New Rules for Nominations and Bank Governance

By BPN News Desk March 27, 2025

The Rajya Sabha recently passed the Banking Laws Amendment Bill, aiming to enhance governance in the banking sector and streamline financial processes for depositors. This amendment, already approved by the Lok Sabha, introduces several key reforms to improve banking regulations and reporting. New Nomination System for Depositors One of the most notable provisions of the

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 […]