Page 119 - Finance News
MFIN dismisses reports about alleged harassment by microfinance firms
Recently, various organisations also staged protests in different parts of the state condemning the atrocities and oppression carried out by microfinance companies and demanded action against them
 "MFIN dismisses reports about alleged harassment by microfinance firms")
Rupee fell 20% in last 5 yrs, weakest currency in Southeast Asia: Moody's
Of the 23 rated Indian companies, Moody's assessed only six to be exposed to the effects of dollar strength, but these companies have sufficient mitigating factors
 "Rupee fell 20% in last 5 yrs, weakest currency in Southeast Asia: Moody's")
Rupee's fall due to dollar's rise, RBI intervention can harm exports: Rajan
Rajan said the dollar has been appreciating against other currencies, partly due to fear of Trump tariffs
 "Rupee's fall due to dollar's rise, RBI intervention can harm exports: Rajan")
Amid FII outflow, Rupee falls 12 paise to settle at 86.47 against dollar
At the interbank foreign exchange, the rupee opened at 86.46 and moved between high of 86.38 and low of 86.52 against the greenback during the session
 "Amid FII outflow, Rupee falls 12 paise to settle at 86.47 against dollar")
Avaada Group gets Rs 8,500 cr commitments for nine projects for Q3FY24
Avaada Group specialises in solar module manufacturing, renewable power generation, and the development of green hydrogen, green methanol, green ammonia, and sustainable aviation fuel projects
 "Avaada Group gets Rs 8,500 cr commitments for nine projects for Q3FY24")
Bank Holidays 2025: Are banks open or closed today, Jan 23, in your state?
January 23 bank holidays: Bank holidays in India vary by region. This Thursday, all public and private banking institutions will be closed in observance of Parakram Diwas and Vir Surendra Sai Jayanti
 "Bank Holidays 2025: Are banks open or closed today, Jan 23, in your state?")
NDA 3.0 must use political capital for structural reforms: D Subbarao
The Union Budget for 2025-26, to be presented by Finance Minister Nirmala Sitharaman on February 1, comes amid global economic uncertainties and moderating domestic growth
 "NDA 3.0 must use political capital for structural reforms: D Subbarao")
HDB Financial Services faces regulatory hurdles amid $1.5 billion IPO plans
HDB Financial Services is under scrutiny for alleged companies act violations linked to a $1.5 billion ipo. sebi's findings could lead to penalties or delays in ipo filings, impacting hdb's compliance
 "HDB Financial Services faces regulatory hurdles amid $1.5 billion IPO plans")
Rupee declines 5 paise to 86.40 against US dollar in early trade today
At the interbank foreign exchange, the rupee opened at 86.46, down 11 paise from its previous close, and dropped further to 86.52
 "Rupee declines 5 paise to 86.40 against US dollar in early trade today")
AI, autonomous robotics firm Ati Motors raises $20 mn in Series B funding
In 2023, the Bangalore-based startup raised $10.85 million in a Series A funding round. This latest investment brings Ati Motors' total funding to over $37 million
 "AI, autonomous robotics firm Ati Motors raises $20 mn in Series B funding")
EPFO adds 1.46 million net members in November, new additions rise 4.88%
The EPFO enrolled around 874,000 new members in November 2024, up by 18.80 per cent over the year-ago month and a 16.58 per cent rise against October 2024
 "EPFO adds 1.46 million net members in November, new additions rise 4.88%")
Rupee strengthens to 86.33 as dollar index falls, RBI swaps aid gains
The dollar index, which measures the strength of the greenback against a basket of six major currencies, fell by 0.8 per cent to 107.97
 "Rupee strengthens to 86.33 as dollar index falls, RBI swaps aid gains")
CBDT clarifies PPT application, grants relief to FPIs with grandfathering
Tax authority says provision will be outside the purview of PPT in respective DTAAs
 "CBDT clarifies PPT application, grants relief to FPIs with grandfathering")
RBI's massive dollar sales may net govt bumper dividend once again
IDFC FIRST Bank estimates Rs 2 trillion of payout by the RBI while QuantEco Research pegs the dividend around Rs 1.5 trillion for the fiscal year that ends March
 "RBI's massive dollar sales may net govt bumper dividend once again")
CBDT notifies amendments in I-T rules for non-resident cruise ships
As a measure to promote investment and employment, the government had in the July Budget, provided a presumptive taxation regime for non-residents, engaged in the business of operation of cruise ships
 "CBDT notifies amendments in I-T rules for non-resident cruise ships")
CBDT grandfathers treaty benefits on PPTs with Mauritius, 2 more nations
India has made certain treaty-specific bilateral commitments in the form of grandfathering provisions in the DTAAs signed with Singapore, Mauritius and Cyprus
 "CBDT grandfathers treaty benefits on PPTs with Mauritius, 2 more nations")
US' Stargate: Will India be able to tap into a $500 billion opportunity?
Some industry leaders highlighted that it is time for the Indian government to get its act together on building AI infrastructure in the country
 "US' Stargate: Will India be able to tap into a $500 billion opportunity?")
After Tuesday fall, rupee rises 25 paise to close at 86.33 against dollar
Forex traders said the rupee is likely to witness high volatility with a negative bias ahead of key events in the global and domestic economic landscape
RBI MPC member bats for two inflation rates for better policy making
Chief Economic Advisor V Anantha Nageswaran in the Economic Survey 2023-24 had pitched for excluding food inflation from the rate setting calls
 "RBI MPC member bats for two inflation rates for better policy making")
CBDT clarifies past investments under old tax treaties safe from new rules
The Central Board of Direct Taxes announced on Wednesday that investments under tax treaties with Mauritius, Cyprus, and Singapore will remain unaffected by the new Principal Purpose Test rule
 "CBDT clarifies past investments under old tax treaties safe from new rules")