RBI lifts curbs on certain NBFCs after enhanced regulatory compliance.
RBI requires banks to provide fixed interest rate loan options to customers.
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 […]
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
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
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
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
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 […]
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
Investor sentiment took a hit as news of a detected case of the Human Metapneumovirus (HMPV) in Bengaluru led to heightened concerns about potential health crises and their economic fallout. The benchmark Sensex plunged 800 points in response, reflecting growing unease among market participants. HMPV Detection Sparks Fear The Human Metapneumovirus, which has been making
