Page 21 - Harsh Kumar

Finance Ministry likely to end windfall tax as oil prices stabilise

In September, the government eliminated the windfall tax on domestically produced crude oil, reducing it to zero per tonne

GST fitment committee set to review 18% tax on co-lending services

Under the co-lending model, NBFCs are required to retain a minimum of 20 per cent of individual loans on their books, while the remaining balance is held by banks

PSBs get green flag to raise Rs 25,200 cr through equity dilution in FY25

So far, the PSBs have raised Rs 8,500 crore through Qualified Institutional Placement (QIP) in FY25, according to data from Prime Database

Explained: How will PAN 2.0 be different from the existing setup?

Here is all you need to know about the initiative and its impact on your tax filings.

Regulatory compliance important to stay ahead of fraudsters: DFS Secy

He stressed the importance of regulatory compliance to stay one step ahead of fraudsters in the industry

Public sector banks prepare to open AT-1, Tier-2 bond floodgates

They target raising Rs 54,800 cr in FY25

Rs 1,435 crore PAN 2.0 project gets CCEA approval as business identifier

The PAN 2.0 project aims to enable technology-driven transformation of taxpayer registration services and offers several benefits

Govt collects Rs 16,398 crore GST on health, life insurance in FY24: FinMin

This comes amid demands from stakeholders, including states, to reduce GST rates on health and life insurance premiums

Indian qcom startups can be key global players: FM Nirmala Sitharaman

Sitharaman's remarks come at a time when there is a heated debate about the effect of the swift growth of quick-commerce platforms on traditional brick-and-mortar retail stores in India

GST on health insurance needs to be reduced: IFFCO Tokio's Subrata Mondal

Mondal discussed the future plan of the companies along with the emerging challenges for the sector

Finance ministry directs major PSBs to fast-track re-KYC verification

Out of 53.9 crore Pradhan Mantri Jan-Dhan Yojana accounts, 11.2 crore are inoperative and 10.5 crore accounts are pending for re-KYC

Middle income, affordable housing book is growing fast: TFCI MD & CFO

Bali discussed the huge opportunities in hotel financing in the tier 2 and tier 3 cities

Finance Ministry sets minimum annual dividend payout norms for NBFC CPSEs

The guidelines mandate minimum annual dividend payout at 30% of PAT or 4% of net worth, whichever is higher

Taxpayers must disclose foreign income by Dec 31, says CBDT chairman

When asked about the progress in the income tax law review, the CBDT chief said that public consultation is ongoing and more than 6,000 suggestions have been received by the department

PSBs set to launch MSME credit model this month, reveals document

Initially, nine PSBs such as Bank of Baroda, Canara Bank, Bank of Maharashtra and others will allow loans only up to Rs 25 lakh. Bank of India will offer loans up to Rs 1 crore

Moody's says Indian economy in 'sweet spot,' predicts 2024 growth of 7.2%

India's real GDP expanded 6.7 per cent year-on-year in the June quarter of 2024, driven by a revival in household consumption, robust investment, and strong manufacturing activity

PSBs register strong business growth of 11% in H1 FY25, says FinMin

Net profit also grows by impressive 26% in the first half of FY25

FinMin seeks comments from sponsor banks on proposed RRB amalgamation

The proposed document said the RRB with the largest business (total deposits and advances) among the amalgamating RRBs in a state would be the transferee RRB in that state

Pillar Two tax regime unlikely soon as India proceeds with caution

It is proceeding cautiously and is unlikely to implement the rules anytime soon

We may lend to a telco if it gets AAA rating: PNB MD & CEO Atul Kumar Goel

Goel discussed the public sector lender's latest quarterly results and its expansion plans