Page 145 - Finance News
Centre may urge states to cut delay in formation of finance commissions
Today's meet may focus on facilitating dialogue to enhance efficiency of SFCs
 "Centre may urge states to cut delay in formation of finance commissions")
Some rich nations say trillions of dollars needed to fight climate change
Some developed countries on Wednesday acknowledged that trillions of dollars were urgently needed to address climate change and wealthy nations should continue to lead in providing climate finance.
 "Some rich nations say trillions of dollars needed to fight climate change")
Five-fold jump in ITR filers with income above Rs 50 lakh in last 10 yrs
76 per cent of income tax collected is from those earning above Rs 50 lakh a year. This has led to reduced tax burden on the middle class
 "Five-fold jump in ITR filers with income above Rs 50 lakh in last 10 yrs")
SBI, HDFC Bank, ICICI Bank continue to be systemically important: RBI
RBI had classified SBI and ICICI Bank as domestic systemically important banks (D-SIBs) in 2015 and 2016, respectively. In 2017, HDFC Bank was also classified as a D-SIB
 "SBI, HDFC Bank, ICICI Bank continue to be systemically important: RBI")
Nation at forefront of digital revolution, fintech speeding payments: RBI
On digitalisation of Indian finance, Patra said micro-level evidence from surveys of Indian banks shows that while all of them have implemented mobile and internet banking
 "Nation at forefront of digital revolution, fintech speeding payments: RBI")
Blue Energy Motors plans to raise $100 million by January, says CEO
Blue Energy, India's first LNG truck manufacturer, was valued at $250 million in its previous fundraising round
 "Blue Energy Motors plans to raise $100 million by January, says CEO")
SBI, HDFC, ICICI remain Domestic Systemically Important Banks in 2024: RBI
The Central bank said the higher D-SIB surcharge for SBI and HDFC Bank will be applicable from April 01, 2025
 "SBI, HDFC, ICICI remain Domestic Systemically Important Banks in 2024: RBI")
Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22
The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February 1, 2025
 "Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22")
BharatPe fraud case: HC quashes lookout circular on Ashneer Grover, wife
Justice Sanjeev Narula passed the order on Monday after the court was informed that another bench of the high court quashed the FIR on the same day
 "BharatPe fraud case: HC quashes lookout circular on Ashneer Grover, wife")
Rupee hits new intraday low of 84.40 against US dollar on FPI selling
The Dollar Index rose to 105.83, while the US 10-year Treasury yield climbed to 4.36 per cent
 "Rupee hits new intraday low of 84.40 against US dollar on FPI selling")
SBI looks to raise Rs 10,000 crore through 15-year infra bonds next week
SBI has previously raised Rs 20,000 crore in infrastructure bonds in the current financial year FY25
 "SBI looks to raise Rs 10,000 crore through 15-year infra bonds next week")
Merchandise exports estimated to grow at 1.85% in Oct-Dec: Exim Bank
The non-oil exports will grow 7.39 per cent to USD 91.7 billion, estimates released by the policy bank said
 "Merchandise exports estimated to grow at 1.85% in Oct-Dec: Exim Bank")
NFRA recommends revising audit standards in line with global norms
The Authority also approved the other 33 Auditing Standards in line with corresponding Global Standards
 "NFRA recommends revising audit standards in line with global norms")
NBFC-MFI sector growth to nosedive to 4% in FY25: CareEdge Ratings
As the sector faces these multifaceted challenges, vigilant monitoring and proactive management will be key to sustaining its viability and support for underserved communities
 "NBFC-MFI sector growth to nosedive to 4% in FY25: CareEdge Ratings")
Bond yields flattish; inflation data cements delayed policy easing view
The benchmark 10-year bond yield ended at 6.7958%, compared with the previous close of 6.7874%
 "Bond yields flattish; inflation data cements delayed policy easing view")
Bitcoin at $89,000: What does the law say about cryptocurrencies in India?
Income from cryptocurrency transactions is taxed at a flat rate of 30% in India, with an additional 1% Tax Deducted at Source (TDS) on transactions exceeding Rs 50,000 annually
 "Bitcoin at $89,000: What does the law say about cryptocurrencies in India?")
What is driving Bitcoin's rally as it surges past the $89,000 milestone?
As Bitcoin reaches new heights following the US elections, we explore the key factors driving this surge and what it means for investors
 "What is driving Bitcoin's rally as it surges past the $89,000 milestone?")
Rupee falls 2 paise to all-time low of 84.40 against dollar in early trade
Forex traders said the rupee is expected to trade between 83.80 and 84.50 in the medium term
 "Rupee falls 2 paise to all-time low of 84.40 against dollar in early trade")
COP29 kicks off; host asks nations to resolve differences on finance goal
COP29 President Mukhtar Babayev said current policies are leading the world towards 3 degrees Celsius of warming, which would be catastrophic for billions of people
 "COP29 kicks off; host asks nations to resolve differences on finance goal")
AIIB should strive for more innovative financing models: FM Sitharaman
Sitharaman, who is also Governor on the AIIB Board, stated that the multilateral institution should broaden its investment in priority sectors of climate adaptation and resilience