Business

ED Raids 35+ Sites Linked to Anil Ambani

By BPN News Desk July 24, 2025

The Enforcement Directorate (ED) carried out raids on over 35 premises across Mumbai and Delhi connected to Anil Ambani and his group companies. The operation is part of a money laundering investigation involving alleged diversion of Rs 3,000 crore in loans from Yes Bank between 2017 and 2019. Search Based on Multi‑Agency Inputs ED actions […]

Business Industry

India’s Mobile Phone Exports Jump 127‑Fold

By BPN News Desk July 24, 2025

India’s mobile phone exports surged from ₹1,500 crore in 2014–15 to ₹2 lakh crore in 2024–25, marking a remarkable 127‑fold rise, Parliament was informed on July 24, 2025. This leap reflects how India has transformed from a net importer to a major exporter of phones over the past decade. PLI Scheme Boosts Manufacturing The Government credited the Production Linked […]

Business Finance

Karnataka CM Orders Mandatory GST Registration

By BPN News Desk July 24, 2025

Karnataka Chief Minister Siddaramaiah has directed that all eligible traders crossing the GST turnover threshold must register under the Goods and Services Tax system. The instruction follows widespread confusion after tax notices were issued based on UPI payment records. CM Responds to Traders’ Concerns Several traders had received GST registration notices after

Business Markets

Asia Markets Mixed Ahead of US Tariff Deadline

By BPN News Desk July 22, 2025

Asian stock markets traded mixed on July 22, 2025, as investors awaited clarity on US trade tariffs and upcoming corporate earnings. Market sentiment was cautious across the region amid global economic uncertainty and political developments. Japan Slips After Election Setback Japan’s Nikkei 225 edged down 0.1% after the ruling coalition failed to retain a majority […]

Business

SBI Declares Anil Ambani and RCom Loan as Fraudulent

By BPN News Desk July 22, 2025

The State Bank of India (SBI) has officially classified the loan account of Reliance Communications (RCom) and its promoter Anil Ambani as fraudulent. The decision, made on June 13, 2025, was in accordance with the Reserve Bank of India’s master directions on fraud risk and SBI’s internal policies. This classification was formally disclosed to the […]

Business Finance

Panel Recommends Refund Relief for Late ITR Filers

By BPN News Desk July 21, 2025

A parliamentary panel reviewing the draft Income Tax Bill, 2025 has recommended that small taxpayers should be allowed to claim income tax refunds even if they fail to file their returns by the deadline. The suggestion comes as a relief for individuals earning below the taxable limit who often lose their deducted tax (TDS) due […]

Business

Nayara Changes Payment Terms After EU Sanctions

By BPN News Desk July 21, 2025

Nayara Energy has revised the payment terms for its latest naphtha export tender in response to recent sanctions imposed by the European Union. The company now requires advance payment or an irrevocable letter of credit for the cargo, which is scheduled for loading between August 14 and 18. The cargo volume is expected to be […]

Business

Rosneft Slams EU Sanctions on Nayara Refinery

By BPN News Desk July 21, 2025

The European Union has imposed sanctions on Nayara Energy’s Vadinar refinery in Gujarat as part of its latest package targeting Russia. The move comes amid tightened restrictions on petroleum products refined from Russian crude. Nayara Energy, a major private refiner in India, is 49% owned by Russian energy giant Rosneft. Rosneft Calls Action a Violation […]

Business International

EU Sanctions Target Russian Stake in Nayara

By BPN News Desk July 18, 2025

The European Union has added Nayara Energy to its latest sanctions aimed at Russia, targeting refined petroleum products made from Russian crude. Nayara, based in Vadinar, Gujarat, is nearly half-owned (49.13 %) by Russia’s Rosneft. The move could affect Rosneft’s planned sale of its stake to Reliance Industries, raising doubts over the deal’s future. What the […]

Business Finance

Panel Clears Income Tax Bill With 285 Changes

By BPN News Desk July 17, 2025

The Parliamentary Standing Committee has approved the Income Tax Bill, 2025 with a total of 285 suggested changes, aiming to simplify tax procedures, reduce litigation timelines, and improve overall compliance. The bill is set to be introduced in the upcoming Monsoon Session of Parliament, with implementation targeted for the next financial year. One of the […]