Page 149 - Finance News

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

ACME Sun Power secures Rs 3,753-cr term loan from state-owned REC

The loan has been secured for the development and construction of a 320-MW firm and dispatchable renewable energy (FDRE) project in collaboration with SJVN

Failure to disclose foreign assets to incur Rs 10 lakh fine: I-T dept

The department said taxpayers figuring under this criteria "must mandatorily" fill the foreign asset (FA) or foreign source income (FSI) schedule in their ITR even if their income

'Own-source' revenue of panchayats remains at Rs 59 per capita in 2017-22

Among the states, Gujarat collected the highest amount as OSR at Rs 829.75 crore, while Kerala came second collecting Rs 802.95 crore

CBDT launches campaign to inform taxpayers on undeclared foreign assets

The purpose is to remind and guide those who may not have fully completed Schedule Foreign Assets in their submitted ITR

RBI likely to draw up road map for ECL adoption at Monday's meeting

The central bank's communication to private banks' board secretariats has not listed the agenda for the meeting, but has only given the event flow

Forex reserves decline $6.47 bn in a week to $675.65 bn, shows data

In the previous reporting week, the forex reserves had dropped by $2.675 billion to $682.13 billion

New business premium of life insurers rises 13% in Oct, LIC leads

Private insurers log 18% yearly increase at Rs 13,216.51 cr, according to data

Concerns about new audit norms misplaced: NFRA's Ajay Bhushan Pandey

For a Viksit Bharat, India cannot afford audit standards that are inferior, NFRA Chairperson Ajay Bhushan Pandey said

Use of food inflation in setting rate flawed; RBI should slash it: Goyal

It can be noted that the RBI under Das has made its reservations about such an exclusion in the past. The headline inflation went up to 6.2 per cent for October, breaching the upper end of the 2-6%