Business Finance

Nirmala Sitharaman to Present GST Rate Cut Proposal to GoM

By BPN News Desk August 18, 2025

Finance Minister Nirmala Sitharaman is set to address a two-day Group of Ministers (GoM) meeting starting August 20 in New Delhi. She will review the Centre’s proposal for a sweeping overhaul of India’s GST structure, which includes rationalising rates and simplifying tax slabs. Simplified GST Structure Proposed The government has proposed a leaner GST framework […]

Business

Maruti Shares Jump Most in 5 Years on GST Cut Hopes

By BPN News Desk August 18, 2025

Maruti Suzuki India shares surged nearly 8%, recording their biggest single-day gain in almost five years. The rise followed government proposals to reduce GST on small cars from 28% to 18%, sparking investor optimism across the auto sector. Tax Reform Trigger The government recently announced a move to simplify the Goods and Services Tax (GST) […]

Business Finance

By BPN News Desk August 17, 2025

Delhi Police have arrested 18 people in connection with a massive fraud that siphoned off ₹2.60 crore from State Bank of India (SBI) credit card holders. The fraud, which ran for nearly six months, came to light after investigators traced the source of leaked banking information to a call centre in Gurugram. How the Fraud […]

Business Industry

Coimbatore MSMEs Hope for Lower GST Rates

By BPN News Desk August 17, 2025

Micro, Small and Medium Enterprises (MSMEs) in Coimbatore have raised concerns over the impact of high Goods and Services Tax (GST) rates on their operations. Manufacturers and suppliers in sectors such as textiles, foundry, engineering tools, and pump sets argue that current tax slabs have increased input costs and reduced profit margins. Many also point […]

Business

Nayara Shifts Fuel Transfers Offshore to Maintain Exports

By BPN News Desk August 15, 2025

Faced with European Union sanctions, Nayara Energy has turned to offshore fuel transfers—shifting shipments mid-sea between tankers—to keep exports moving despite restrictions on shipping services. Sanctions Disrupt Supply Chains EU sanctions introduced in July targeted Nayara’s Vadinar refinery, curbing its ability to export refined products due to reduced access to

Business Finance

India Plans 2-Slab GST System by Diwali

By BPN News Desk August 15, 2025

The government has proposed reforms to simplify the Goods and Services Tax (GST) into a two-slab system, targeting implementation by Diwali to reduce the tax burden on everyday items and benefit small businesses. Proposed Restructuring The Finance Ministry has submitted a proposal to the Group of Ministers to consolidate the existing four-rate GST structure (5%, […]

Business Finance

RBI to Clear Cheques Within Hours from October 4

By BPN News Desk August 14, 2025

The Reserve Bank of India (RBI) has announced a major reform to slash cheque clearing times. Starting October 4, cheques will be scanned, presented, and processed within hours instead of the current two-day cycle. What Will Change Under the new system, cheques submitted during the 10 AM to 4 PM presentation window will be continuously […]

Business

Infosys to Buy 75% Stake in Versent for Rs 1,300 Cr

By BPN News Desk August 14, 2025

Infosys has announced that it will acquire a 75% stake in Australia’s Versent Group, a cloud-services subsidiary of Telstra, for approximately AUD 233.3 million (around Rs 1,300 crore). The acquisition is subject to regulatory approvals and is expected to close in the second half of fiscal 2026. Terms of the Deal Under the agreement, Infosys […]

Business Finance

ICICI Bank Cuts Minimum Balance After Customer Backlash

By BPN News Desk August 14, 2025

Following widespread public criticism, ICICI Bank has significantly rolled back its earlier plan to raise the minimum average balance (MAB) requirements for new savings accounts across India. What Changed Initially, from August 1, the bank had increased the MAB for metro and urban areas from Rs 10,000 to Rs 50,000 — a fivefold hike. Semi-urban […]

Business Industry

India Cabinet Approves ₹4,600 Crore in New Semiconductor Projects

By BPN News Desk August 12, 2025

In a boost to domestic chip manufacturing, Prime Minister Modi’s Cabinet approved four new semiconductor projects under the India Semiconductor Mission (ISM), with a combined investment of approximately ₹4,600 crore. Project Highlights and Locations These projects, proposed by companies like SiCSem, Continental Device India (CDIL), 3D Glass Solutions, and ASIP