Page 124 - Finance News

Tech glitch causes GST filing delay; taxpayers call for deadline extension

GST portal outages ahead of the January 11 deadline for December 2024 returns leave businesses struggling, with taxpayers urging an extension

Recovery agents are in demand as banks' unsecured loan stress rises

In July 2024, the total strength of outsourced staff in the BFSI (banking, financial services, and insurance) space was 77,000, out of which 6,000 were recovery agents

Cease & desist: Reserve Bank of India's quick shift on NBFC curbs

In December, the restriction was lifted for Navi Finserv, and this month, it was removed for the remaining three NBFCs

ARCs open to acquiring non-performing MFI loans, but only at right price

Industry-wide stress in the microfinance sector has built up due to unchecked credit growth and multiple loan disbursements to the same customers, resulting in overleveraging among borrowers

Rupee volatility likely to drive imported luxury car prices off course

Luxury car sales touched 51K units for first time in 2024

Rupee hits record low of 85.94/$ intraday, recovers to close at 85.86/$

The dollar index inched up to 109.14 compared to 108.98 on Wednesday. The index measures the strength of the greenback against a basket of six major currencies

Finance secretary Tuhin Kanta Pandey takes charge as revenue secretary

A 1987-batch Indian Administrative Service (IAS) officer from the Odisha cadre, Pandey had been serving as the DIPAM secretary since October 24, 2019

Ed-tech unicorn PhysicsWallah expands offline presence to over 150 centres

PhysicsWallah offers two types of classes for students: Vidyapeeth, which are its offline centres, and Pathshala, which includes a hybrid model

Rupee's slide may continue despite higher rate cut expectations: Survey

The rupee is currently overvalued by 8 per cent compared to its trading peers, according to RBI data on the real effective exchange rate

RBI eases curbs on NBFCs as compliance improves after supervisory actions

High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth

RBI's new Guv initiates review of inflation, growth forecasting tools

Malhotra, who took charge last month, is asking the RBI's internal teams to include new datasets, analysis and projections in their inflation and growth forecasts

Rupee falls 1 paisa to record low of 85.92 against US dollar in early trade

Forex traders said the relentless outflow of foreign funds amid soaring US bond yields boosted the American currency, while subdued domestic equity markets pushed the rupee down further

Rupee hedging costs in Indian assets highest since 2022 on bearish bets

Dollar-rupee three-month offshore forward points, the cost of locking in forward dollar purchases, are hovering near the highest since November 2022 reached last week

FinMin files review petition in Supreme Court's Safari Retreats case ruling

The move follows the Goods and Services Tax (GST) Council's recommendation last month for a retrospective amendment to the Central Goods and Services Tax (CGST) Act

Rupee falls 13 paise to settle at new record low of 85.87 against dollar

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.35 per cent higher at 108.76

Expect RBI to cut rates next month, Budget must focus on job creation: CII

The Confederation of Indian Industry (CII) chief also expressed optimism that much-needed labour reforms will be taken up by the BJP-led NDA government in the third term

MFI portfolio declines 4.3%, bad assets spike in Sep quarter: Report

Loans unpaid for 1-30 days increased to 2.1 per cent from the 1.2 per cent in June, while the ones unpaid for 31-180 days witnessed a sharper rise at 4.3 per cent as against 2.7 per cent in June

SBI lowers India's FY25 GDP growth forecast to 6.3%, below NSO's 6.4%

Despite projected growth rates of 6 per cent in first half of FY25, with a pickup to 7 per cent in the second half, SBI flags weak private investment as a concern to economic growth

Rupee depreciates 9 paise to hit record low of 85.83 against US dollar

At the interbank foreign exchange, the rupee opened at 85.82 and slipped further to 85.83 against the greenback in initial deals, 9 paise lower from its previous close

RBI Guv Malhotra faces calls to unshackle rupee amid surging dollar

Sanjay Malhotra, the new governor, hasn't spelled out his policy stance on the rupee. Yet, there are signs he may allow the currency to fluctuate more naturally