Finance

Rising Gold Prices Turn SGBs into Fiscal Burden

By BPN News Desk March 22, 2025

India’s Sovereign Gold Bond (SGB) scheme, once praised for its innovation and potential to curb gold imports, is now turning into a fiscal challenge for the government. As global and domestic gold prices continue to rise sharply, the liabilities linked to the scheme have ballooned, forcing policymakers to reconsider the future of this gold-linked investment […]

Business Industry

Bangladesh Textile Industry Hit Hard by Political Unrest

By BPN News Desk March 22, 2025

Bangladesh’s textile industry, the largest contributor to its export earnings and a critical driver of employment, is under significant strain following recent political upheaval. The change in leadership and new policy directions under the interim administration have triggered concern across the sector, with growing fears of widespread layoffs, factory shutdowns, and loss

Business Industry

X Challenges Indian Government’s Use of IT Act for Content Blocking

By BPN News Desk March 20, 2025

X Corp, formerly known as Twitter, has filed a legal petition against the Indian government in the Karnataka High Court, challenging the use of Section 79(3)(b) of the Information Technology (IT) Act for content blocking. The company argues that this practice creates an unlawful mechanism that bypasses established legal procedures and violates the Supreme Court’s

Business Finance

New GST Rule Mandates Input Service Distributor Mechanism from April 1

By BPN News Desk March 20, 2025

The Indian government is set to implement a crucial change in the Goods and Services Tax (GST) framework, making it mandatory for businesses to adopt the Input Service Distributor (ISD) mechanism for the distribution of common Input Tax Credits (ITC) starting April 1, 2025. This change aims to streamline tax credit allocation, improve compliance, and […]

Business Industry

India Imposes Provisional Anti-Dumping Duty on Chinese Aluminum Foil

By BPN News Desk March 19, 2025

In a move to protect domestic industries, India has imposed provisional anti-dumping duties on aluminium foil imports from China. The Finance Ministry has announced that the duties will range between $619 and $873 per metric tonne and will remain in effect for six months. The measure aims to safeguard local manufacturers from underpriced imports that […]

Trade

Reliance Industries Exports €724 Million Worth of Fuel Refined from Russian Crude to U.S.

By BPN News Desk March 19, 2025

Reliance Industries Ltd, led by Mukesh Ambani, reportedly exported fuel worth approximately €724 million (₹6,850 crore) to the United States over a one-year period, with the fuel refined from Russian crude oil. According to a report by the Centre for Research on Energy and Clean Air (CREA), from January 2024 to January 2025, the U.S. […]

Industry

Ford Repurposes Chennai Plant for Engine Production and Export

By Editor - News Desk March 19, 2025

Ford Motor Company is set to repurpose its Chennai manufacturing facility to produce and export engines and related components, marking a strategic shift from vehicle production in India.  This decision comes after Ford ceased domestic vehicle manufacturing in 2021 due to persistent challenges in capturing market share in India’s competitive automotive sector.

Finance

RBI Governor Urges Banks to Streamline KYC Processes and Enhance Customer Service

By Editor - News Desk March 19, 2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra has urged banks and non-banking financial companies (NBFCs) to cease the practice of repeatedly requesting ‘Know Your Customer’ (KYC) documents from customers. Speaking at the annual conference of RBI Ombudsmen, Malhotra emphasized that once a customer submits KYC documents to any financial institution

Finance

NPCI to Phase Out ‘Collect Call’ Transactions to Reduce UPI Fraud

By BPN News Desk March 18, 2025

The National Payments Corporation of India (NPCI) is set to phase out the ‘collect call’ feature in Unified Payments Interface (UPI) transactions to curb rising fraud cases. The feature, which allows merchants to send payment requests to customers for approval, has been widely exploited by scammers tricking users into authorizing unintended payments. To enhance

Industry

India Plans Measures to Strengthen Steel Industry Amid U.S. Tariffs

By BPN News Desk March 18, 2025

India is formulating strategies to bolster its steel industry in response to the recent 25% tariffs imposed by the United States on steel imports. The government’s initiatives aim to mitigate potential adverse effects on domestic steel producers and sustain export growth. The Production-Linked Incentive (PLI) scheme is under consideration to enhance domestic steel