Page 143 - Finance News

TN asks Finance Commission to consider 'income distance' for tax devolution

State also wants weightage increased for contribution to national GDP and urbanisation

Rupee rises 2 paise to 84.40 against US dollar during early trade

Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit

CM Stalin asks 50% share of Central taxes for projects of Tamil Nadu

He said the Commission's recommendation should fulfill the needs and meet the aspirations of Tamil Nadu and ensure its greater contribution towards making India an economic superpower

Banks need to make loans more affordable, says FM Nirmala Sitharaman

The Finance Minister also said that inflation is very volatile because of supply and demand constraints

Newer companies rise on UPI leaderboard, Navi now the fourth largest

The company processed 157.51 million transactions in October, overtaking Bengaluru-based Cred, which recorded 152.28 million transactions in the same month

Be vigilant for concentrations in biz models: RBI Guv Das to bank boards

Says need to curb unethical practices such as mis-selling of products

Taxpayers must disclose foreign income by Dec 31, says CBDT chairman

When asked about the progress in the income tax law review, the CBDT chief said that public consultation is ongoing and more than 6,000 suggestions have been received by the department

Finance Commission open to view alternate index for devolution: Panagariya

With today's discussion with Tamil Nadu, the Commission has so far held consultation meetings with 12 states and will hold similar meetings with 16 more states in the next seven months

SBI raises $500 million through 5 year bonds from international investors

State-owned lender also raises Rs 10K cr through 15-yr infra bonds at 7.23%

CPP Investments' assets reach $675.1 bn in Q2 FY25 amid market volatility

In India, the Canadian firm said it sold its 6 per cent stake in Delhivery, India's largest third-party logistics service provider, generating net proceeds of C$298 million (US$211 million)

Supply chain fintech VoloFin secures $50 mn in funding from major US bank

The Singapore-based fintech firm aims to increase this funding limit to $150 million over the next two to three years

GST Council to meet in Jaisalmer on December 21; may discuss insurance levy

The council may also take up some rate rationalisation exercise and reduce tax rates on a host of common man items from 12 per cent to 5 per cent slab

CBIC extends due date for Oct GSTR-3B filing in Maha, J'khand till Nov 21

CBIC said Nov 20 is also the due date for filing the GSTR-3B return for October 2024, and this may cause difficulty to the taxpayers in finding time to exercise their right to vote for the election

Govt to surpass Rs 22.07 trn direct tax collection target: CBDT chief

Agarwal also said that taxpayers who have not disclosed their foreign income or assets in their ITRs have time till December 31

RBI to launch cloud services in 2025 to challenge global firm dominance

The burgeoning cloud services market in Asia's third largest economy was estimated at $8.3 billion in 2023 and is expected to grow to $24.2 billion by 2028

Rupee gains 8 paise to 84.38 against US dollar amid crude price support

Wholesale price inflation in India rose to a 4-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, according to government data

BS Poll: Rupee may depreciate to 84.5 against US dollar by end of December

RBI is expected to be active in the currency market, which will cap the losses

Rising delinquencies, aggressive lending put retail credit at risk

The stress in parts of retail lending is leading to business opportunities for those associated with the ecosystem

FM Sitharaman responds to X user seeking tax relief for middle class

The user had posted: "I humbly request you to consider providing some relief for the middle class. I understand the immense challenges involved, but it's just a heartfelt request."

Banks post profit gains, but NIM declines signal margin pressure

While the banking sector has improved its risk-management and underwriting skills to prevent bad loans, it needs to be innovative to mobilise deposits and keep the cost of money low