Finance News

EPFO launches WhatsApp services, automatic settlement of small accounts

The interactive services will make routine account-related information accessible via EPFO's verified WhatsApp service, reducing the need for physical visits to EPFO offices

Last-mile banking network is struggling amid rising costs, low commissions

NSFI 2025-2030 was categorical that a fair and reasonable remuneration structure for BC agents is a must to ensure quality and consistency in the delivery of financial services at the last mile

CII hails GST Council's decriminalisation move as landmark tax reform

Industry body says proposed removal of GST arrest powers, higher prosecution thresholds and stronger taxpayer safeguards mark a major shift towards trust-based governance

UPI average daily transaction value crosses ₹1 trillion in October

Festive spending pushed UPI transactions to 25.47 billion, worth ₹31.53 trillion, even as the proposed merchant discount rate remains in focus

FPIs pull out ₹34,843 cr from equities in Oct, turn net buyers last week

According to data from the Central Depository Services Ltd (CDSL), FPIs withdrew ₹35,861 crore in September. Before that, they had invested ₹20,200 crore in July and ₹29,631 crore in August

Govt extends customs duty exemption on cotton imports till December 31

The two-month extension aims to improve cotton availability, ease input costs for textile and apparel manufacturers, and provide relief to small and medium enterprises

Tata Sons debate: Listed middle layer NBFCs have higher advances as NPAs

However, bad assets in absolute amount are higher among listed upper layer NBFCs

GIFT City funds' tax-related hurdles being ironed out, say experts

Tax authorities address Section 80LA deduction disputes, but experts flag GST compliance costs and competitiveness concerns

Equity LTCG tax cut could boost foreign inflows, support rupee: Jefferies

Jefferies says an equity LTCG tax cut could improve FPI sentiment and support the rupee, but warns that the fiscal impact of lower tax collections may limit the scope for relief.

Reassessment invalid if income tax dept fails to issue mandatory notice: SC

The Supreme Court ruled that failure to issue a mandatory notice under Section 143(2) invalidates income tax reassessment proceedings, even if taxpayers participate in them

India Inc's ECB, FCCB fundraising proposals rise to $8.13 bn in August

Indian companies filed proposals to raise $8.13 billion through ECBs and FCCBs in August, up from $7.70 billion in July, with Flipkart, PFC and other major firms among applicants

Rupee hits 2-week low on 'sticky' dollar bids, modest intervention cushions

Dollar demand around the RBI's reference rate and likely overseas debt repayment outflows weighed on the rupee, while central bank intervention helped limit losses, traders said

TVS Motor Company moves to unbundle mobility, consumer finance business

TVS Motor's board has approved the demerger of its consumer finance business into Harita ARC and the merger of TVS Motor Services with the parent company to unlock shareholder value

Flight to safety hits fintech funding, DPDP Act may lead to further squeeze

Fintech funding rounds declined 41 per cent to 153 in January-September 2026, even as capital raised increased 14 per cent to $2.2 billion, signalling a shift towards established firms

Shaktikanta Das pitches for bigger banks, deeper corporate bond market

Das said India's growth is powered by the triple engines of macroeconomic stability, continuing structural reforms and efforts to build domestic capacity

Nasscom seeks more time to implement revised GST on delivery services

Industry body Nasscom has urged the Finance Ministry to defer revised GST rules for e-commerce delivery services until January 1, 2027, citing technology, accounting and compliance challenges.

PhonePe rebrands Indus Appstore, expands into digital goods and webstore

The app marketplace, now present on more than 200 million devices through OEM partnerships, is adding gift cards, top-ups and a webstore as it seeks to broaden its reach among consumers and developers

Govt hikes DA, DR to 63% from 60%, benefiting 11.75 million people

The Union Cabinet has approved a three-percentage-point hike in DA and DR, effective July 1, 2026, benefiting 4.85 million employees and 6.9 million pensioners at an annual cost of Rs 10,016 crore.

Mutual fund industry must shift from access to investor outcomes: Experts

At the Business Standard BFSI Insight Summit 2026, experts said the next phase of mutual fund growth will depend on better investor outcomes, innovation, and rising incomes

Cabinet approves 3% DA, DR hike for central govt staff, pensioners

Union minister Ashwini Vaishnaw said the increase would take DA and DR from 60 per cent to 63 per cent of basic pay and pension, respectively, with effect from July 1, 2026