Page 133 - Finance News

DGGI uncovers GST fraud involving Rs 3,200 cr worth fake invoices, two held

The DGGI's Bengaluru zonal unit conducted searches at more than 30 locations across Bengaluru and Mumbai, uncovering a complex scam

RBI aligns HFCs' NCD private placement rules with NBFC regulations

According to a notification by the RBI, the revised guidelines will apply to all new private placements of NCDs with maturities exceeding one year by HFCs, effective immediately

RBI's digital payments index rises to 465.33 as of September 2024

"The increase in the RBI-DPI index was driven by growth in payment infrastructure and payment performance across the country over the period," the central bank said in a statement

Rupee falls 4 paise to 86.61 against US dollar during early trade

Forex traders said the rupee continued to face pressure as investors are awaiting cues from the US FED meeting outcome

No GST on penal fees for loan non-compliance, says finance ministry

The RBI in its circular had directed regulated entities to replace "penal interest" with "penal charges" for borrowers who fail to comply with loan terms

MobiKwik, Cred first non-banks to offer CBDC, launches e-rupee wallet

The wallets support transactions up to Rs 10,000 per transfer with a daily limit of Rs 50,000

Rupee falls 25 paise to close at 86.56 against dollar amid tariff threats

Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market

Over 33% respondents lose money to scams via real-time payments: Report

The report stated that 60 per cent of respondents reported exposure to messages from scammers, and 54 per cent said friends or family members had been scammed

Rupee falls 26 paise to 86.57 against US dollar during early trade

Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows

UK trade secy Jonathan Reynolds to visit India in Feb for FTA talks

Co-hosted with the High Commission of India in the UK, the annual event brought together leading figures from the world of politics, business, finance and technology within the India-UK corridor

Reserve Bank of India tightens vigil on P2P lending after revising rules

Seeks qualitative details about lenders' operations

Credit cards more than double in 5 years, debit cards stable: RBI report

The RBI report further said at end-December 2024, the number of credit cards has more than doubled to around 10.80 crore as compared to December 2019, when there were 5.53 crore cards in circulation

RBI Governor Sanjay Malhotra flags rising issue of digital frauds

Asks banks to suggest steps for enhancing ease of doing business

UPI's share in total digital payments in India grows to 83% in 2024

In 2024 alone, India recorded 208.5 billion digital payment transactions

DGFT upgrades platform for issuing electronic certificate of origin

The commerce ministry said this upgraded platform offers features such as multi-user access, which enables exporters to authorise multiple users under a single Importer Exporter Code (IEC)

RBI supersedes Aviom India Housing Finance's board, appoints administrator

The regulator said it "intends to shortly" initiate the process of resolution of the company under the Insolvency and Bankruptcy Code (IBC)

RBI announces slew of measures to inject liquidity to banking system

The central bank will conduct Open Market Operation purchase auctions of government securities worth Rs 600 bn ($6.96 bn) in three tranches and hold a 56-day variable rate repo auction for Rs 500 bn

RBI supersedes board of Aviom India Housing Finance on governance concerns

Aviom India Housing Finance caters to low-income households in semi-urban areas and provides loans to women borrowers who do not have any formal income documentation

Rupee depreciates 22 paise to 86.44 against US dollar in early trade

Forex traders said the Indian rupee gained on Friday but opened on a lower note on Monday as Trump Tariffs uncertainty gained

Parl panel reviews CCI's role amid Big Tech challenge to startups

Big stakeholders crowding the market, not allowing the startups to come up, says Par panel chairman