Business Industry

Assam’s Semiconductor Plant Spurs Investment and Infrastructure Growth

By BPN News Desk February 26, 2025

Union Minister Ashwini Vaishnaw announced that the semiconductor plant in Assam’s Morigaon district has catalyzed the creation of a comprehensive ecosystem, drawing investment interests from multiple countries. Speaking at a session on semiconductors, the Minister for Railways, Electronics, and Information Technology highlighted that the establishment of the

Finance

Income Tax Department Targets 40,000 TDS/TCS Defaulters Nationwide

By BPN News Desk February 26, 2025

The Income Tax Department is initiating a nationwide crackdown on approximately 40,000 taxpayers who have failed to deduct or deposit Taxes Deducted at Source (TDS) and Taxes Collected at Source (TCS) for the financial years 2022-23 and 2023-24. This initiative aims to address significant discrepancies in tax deductions and penalize repeat offenders. The Central Board […]

Finance

RBI Eases Lending Norms for NBFCs and Microfinance Institutions

By BPN News Desk February 26, 2025

The Reserve Bank of India (RBI) has eased lending restrictions on non-bank financial companies (NBFCs) and microfinance institutions (MFIs) by lowering risk weights for bank credit. This move aims to boost lending capacity and support economic growth, reversing the slowdown observed after previous regulatory measures. In November 2023, the RBI had increased risk weights

Finance

India’s Credit Card Spending Reaches ₹1.84 Trillion in January 2025

By BPN News Desk February 26, 2025

Credit card spending in India increased by 10.8% year-on-year to ₹1.84 trillion in January 2025, according to data from the Reserve Bank of India (RBI). Despite this annual growth, spending showed a slight decline compared to the previous month. The rising usage of credit cards highlights growing consumer confidence and a shift towards digital transactions. […]

Trade

India Considers Extending Import Restrictions on Steelmaking Raw Materials

By BPN News Desk February 26, 2025

The Indian government is considering extending import restrictions on low-ash metallurgical coke (met coke) beyond June 2025 to encourage domestic sourcing by steel manufacturers. In December 2024, India imposed country-specific quotas, limiting total met coke imports to 1.4 million metric tons from January to June 2025. This move aimed to protect local producers from a

Business Trade

India’s Russian Oil Imports Reach €49 Billion Amid Ongoing Ukraine Conflict

By BPN News Desk February 25, 2025

In the third year of the ongoing Ukraine conflict, India has significantly increased its importation of Russian crude oil, totaling €49 billion. This substantial rise is attributed to the availability of discounted prices, prompting India to shift its traditional oil sourcing from the Middle East to Russia. Impact of the Ukraine Conflict on Global Energy […]

Industry

Global Demand for Indian Drone and Anti-Drone Systems Soars

By BPN News Desk February 25, 2025

Indian defense manufacturers are witnessing a surge in global demand for their drone and anti-drone technologies, with countries from Armenia to the United States expressing significant interest. This trend was prominently showcased at the recent Aero India 2025 air show, where unmanned platforms outnumbered traditional fighter jets, highlighting a shift towards autonomous

Business Industry

LIC Receives GST Demand Notice of ₹57.2 Crore

By BPN News Desk February 25, 2025

The Life Insurance Corporation of India (LIC) has been served a Goods and Services Tax (GST) demand notice amounting to ₹57.2 crore. The notice, issued by the Assistant Commissioner in Delhi, pertains to an alleged excess claim of input tax credit (ITC). Details of the Alleged Excess ITC Claim According to the notice, LIC is […]

Business Finance

Economists Anticipate Repo Rate Reduction

By BPN News Desk February 25, 2025

Leading economists project that the Reserve Bank of India (RBI) may reduce the repo rate to 5.75% by mid-2025. This anticipated adjustment aims to address prevailing concerns over economic growth and inflation. The current repo rate stands at 6.5%, and a reduction of 75 basis points is expected over the next 16 months. Factors Influencing […]

Business

WhatsApp Enforces Massive Account Ban in India

By BPN News Desk February 25, 2025

In a significant crackdown on misuse, WhatsApp has banned over 8.4 million accounts in India within a single month. This decisive action aims to combat the rising instances of scams, misinformation, and illegal activities on the platform. Details of the Account Ban According to Meta’s transparency report for August 2024, WhatsApp banned approximately 8.45 million