Page 103 - Finance News

Gross GST collections increase 9.1% to Rs 1.84 trillion in February

Gross Goods and Services Tax (GST) revenue includes a 10.2 per cent jump in domestic revenues at Rs 1.42 trillion and 5.4 per cent rise in revenues from imports to Rs 41,702 crore during February

UPI posts 5% dip in volume to 16.11 billion, 7% in value in February

The value declined to Rs 21.48 trillion in February, compared to Rs 23.48 trillion in January

Sitharaman urges civil accounts officers to simplify Govt's annual accounts

She said that since a lot of digital integration has already taken place with the states, more research can be carried out based on the data set available with the CGA

UPI transactions drop 5% in volume, 6.5% in value due to shorter February

Number of daily transactions for February stood at 14.46 million, up from 14.33 million in January, which translated to a value of Rs 20,110 crore in February and Rs 19,562 crore in January

98.18% of Rs 2,000 notes returned, Rs 6,471 cr worth still with public: RBI

On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2,000 denomination banknotes from circulation

Gold loan offtake stays strong amid retail loan moderation in January

Industrial credit depicts mild uptick; agri, services moderate

Reserve Bank of India conducts $10 bn forex swap to inject liquidity

This was the second swap auction by the central bank, after it infused $5 billion via a six-month swap on January 31

India and Japan renew $75 billion bilateral currency swap agreement

The Bilateral Swap Arrangement (BSA) is a two-way arrangement where both authorities can swap their local currencies in exchange for the US dollar

Growth in personal loans slows down to 14.2% in Jan, shows RBI data

The RBI on Friday released data on sectoral deployment of bank credit for January 2025 collected from 41 select commercial banks

RBI imposes penalty on HSBC, IIFL Samasta Finance for violating norms

With reference to HSBC's financial position as on March 31, 2023, RBI found that the bank had outsourced the disposal or closure of anti-money laundering (AML) alerts to a group company

Tighter lending norms stymie Indian banks' loan growth for 7th month

Including the merger impact, loans grew 11.4% last month, compared with 20.3% in the year-ago period

Forex reserves rise to two-month high of $640.48 billion, shows RBI data

Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves

16% of card spends happen on RuPay, half of it on credit via UPI: NPCI

RuPay is India's indigenous payment network run on NPCI's infrastructure

Sebi launches centralised database portal Bond Central for corporate bonds

Listing out the key features of the portal, Sebi said it is a unified view of corporate bonds across exchanges and issuers ensuring transparency and comparison

RBI conducts forex swap worth $10 billion to inject long-term liquidity

The Reserve Bank of India (RBI) said it received 244 bids during the auction and 161 of them were accepted for amount totalling USD 10.06 billion

RBI relaxing risk weights to release Rs 40,000 cr capital for banks

Bandhan Bank and IndusInd Bank likely to be biggest beneficiaries of the moves since both have high microfinance exposure

CII's legal committee pushes for appellate body for financial sector

The legal committee wants all financial regulators, including the RBI, to be under the ambit of the new body

Rupee falls 19 paise to 87.37 against US dollar during early trade

Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux

UPI transactions in Jan surpass 16.99 billion, value exceeds Rs 23.48 trn

For 2023-24, the digital payments landscape has demonstrated remarkable expansion, the finance ministry said in a statement

BS Manthan: Audit quality has improved in past few years, says NFRA chief

He further added that the regulatory body is not passing disciplinary orders in abundance and is instead focussing on inspections