Business Finance

GST Reset Likely to Boost Demand Outlook

By BPN News Desk October 28, 2025

The Ministry of Finance has said that recent rationalisation of the Goods and Services Tax (GST) rates is expected to support domestic demand by reducing tax burdens for consumers and businesses. However, it cautioned that global uncertainties remain a downside risk to the growth outlook. Impact of GST Changes The ministry’s monthly economic review highlighted […]

Business Finance

RBI, SBI Economists Clash Over Plagiarism Allegations

By BPN News Desk October 26, 2025

A senior economist from the Reserve Bank of India (RBI) publicly accused researchers at the State Bank of India (SBI) of copying large portions of the Central Bank’s reports in a LinkedIn post. The RBI economist claimed that several paragraphs, graphs and data tables in SBI’s Ecowrap economic publication mirrored chapters from the RBI’s Monetary […]

Business Finance

Allegations Raised Over LIC Funds, Rejected By Insurer

By BPN News Desk October 25, 2025

Life Insurance Corporation of India (LIC) has firmly denied allegations that it misused the savings of its policyholders to benefit the Adani Group. The claims were made by senior Congress leader Jairam Ramesh, who alleged that “the savings of LIC’s 30 crore policyholders were systematically misused to benefit Adani Group companies.” LIC’s Response LIC dismissed […]

Business Finance

HDFC Bank Says AI Will Not Lead to Layoffs

By BPN News Desk October 19, 2025

HDFC Bank has clarified that the adoption of artificial intelligence will not result in job cuts. CEO Sashidhar Jagdishan said the bank sees AI as a tool to enhance efficiency and redeploy staff into customer-facing and technology roles rather than reduce its workforce. AI Experiments in Progress The bank, with a workforce of around 2.20 […]

Business Finance

GST Cuts Set to Sustain India’s Consumption Boost

By BPN News Desk October 19, 2025

Union Finance Minister Nirmala Sitharaman on Saturday said the recent Goods and Services Tax (GST) rate cuts have boosted consumer demand and are likely to sustain momentum in the coming months. She noted that businesses have started passing on tax benefits, reflected in stronger sales of automobiles and consumer goods. Monitoring Prices Closely Sitharaman also […]

Business Finance

IndusInd Bank Under Fresh Probe Over ₹255 Cr Entries

By BPN News Desk October 17, 2025

The Economic Offences Wing (EOW) of Mumbai Police has widened its probe into IndusInd Bank over alleged accounting irregularities, focusing on ₹255 crore in unsubstantiated entries. These amounts were reportedly omitted from the bank’s original complaint, which flagged a lapse of nearly ₹2,000 crore. Nature of the discrepancy These newly uncovered entries are suspected to

Business Finance

Axis Bank Shares Rise Despite Profit Drop

By BPN News Desk October 16, 2025

Axis Bank reported a 26 % year-on-year drop in net profit for Q2 FY26, down to ₹5,090 crore. The decline was driven by a sharp rise in provisions, including a one-time ₹1,231 crore standard asset provision linked to discontinued crop loans. Core performance shows resilience Despite the earnings hit, the bank’s core business held steady. […]

Finance

Delhi HC Questions Removal of GST Aid

By BPN News Desk October 16, 2025

The Delhi High Court has asked the Centre to explain why it removed a GST concession for the differently-abled on vehicle purchases. The court said taking away a benefit already granted is troubling. What changed Earlier, persons with locomotor disabilities were eligible for a lower GST rate on certain cars compared to the standard 28%. […]

Business Finance

RBI Appoints Sonali Sen Gupta as Executive Director

By BPN News Desk October 11, 2025

The Reserve Bank of India (RBI) has named Sonali Sen Gupta as a new Executive Director (ED), effective October 9, 2025. Long RBI Career Sen Gupta has worked at the RBI for over 30 years, holding roles across diverse divisions such as banking regulation, financial inclusion, supervision, and human resources. Before this elevation, she served […]

Business Finance

RBI to Launch Pilot for Deposit Tokenisation

By BPN News Desk October 8, 2025

The Reserve Bank of India (RBI) will roll out a pilot project for deposit tokenisation starting October 8, 2025. The initiative will be anchored on the wholesale version of the central bank’s digital currency (CBDC). Concept of Deposit Tokenisation Deposit tokenisation involves converting a traditional bank deposit into a digital token that mirrors the same […]