Page 159 - Finance News

SC upholds 90,000 tax reassessment notices issued under old regime

Move will impact assessees who received tax notices from April to June 2021 under the old reassessment regime

Unsecured business loans showing early signs of stress: India Ratings

While the denominator effect played out over most of FY24, the need to recognise rising delinquencies, provide for them, and write them off has increased credit cost pressures since Q4 FY24

Observed 'gross negligence and audit failure' in audits of GFS: NFRA

Not only SA 600 but Principal Auditors must fulfil duties under Companies Act 2013, it says

Tier II, smaller cities consuming over 80% credit: Google Pay exec

At 10th edition of Google for India, fintech major announced credit partnerships with two lenders: Aditya Birla Finance Limited for unsecured loans and Muthoot Finance for gold-backed secured credit

YES Bank's CASA ratio improves in Q2 FY25, loan book grows over 13%

Mumbai-based lender's overall deposit growth better than other commercial banks

Rupee plunges 11 paise to 83.93 against US dollar during early trade

Unabated outflow of foreign funds from capital markets and a strengthening American currency also weighed on the Indian currency

NBFC loan sanctions rise 12% in Q1FY25, home and auto loans drive growth

Satisfactory monsoon, soft rates to support growth in H2

Since the year pandemic hit, average daily UPI transactions up over 8x

In September 2024 alone, UPI processed 15.04 billion transactions, valued at Rs 20.64 trillion

Banks to seek govt guarantee on equity conversion before lending to Vi

The telecom giant is seeking to borrow approximately Rs 35,000 crore, but most banks are wary of extending credit, particularly as VI has struggled to raise funds from other sources

Reconstituted RBI MPC with 3 new members to begin maiden meeting on Mon

The outcome of the three-day meeting of the MPC would be revealed by MPC Chairman RBI Governor Shaktikanta Das on next Wednesday (October 9)

BlackRock chases private credit deals across sectors in record India market

India is a bright spot for private credit in Asia as Prime Minister Narendra Modi's ambitious growth targets and deregulation initiatives spur increased funding needs of local firms

Rs 60,000 cr investment opportunity by railways in Bengal, says Vaishnaw

"Rs 60,000 crore investment opportunity by the railways exists in West Bengal," Vaishnaw said after inaugurating several railway projects and train services at Sealdah station

Mere issuance of SCN not enough to cancel GST registration, rules Delhi HC

The court ruled that tax authorities are required to present clear and intelligible reasons and offer an opportunity for a personal hearing when seeking to cancel GST registration

UPI crosses 500 million daily transactions; value falls flat in September

In volume terms, this is the highest number since UPI became operational in April 2016. The number of daily transactions was higher than 483 million and Rs 66,475 crore in August

IIFL Home Finance to raise up to Rs 3,000 cr via public issue of bonds

Trust Investment Advisors and IIFL Securities are the lead managers to the home finance company's issue, which is rated AA by Crisil and India Ratings

NBBL introduces national pension system on Bharat Connect platform

With this partnership, individual investors will be able to contribute to existing NPS accounts with the help of Bharat Connect-enabled platforms

GNPA ratio to improve to decadal best of 2.5% in FY25: Crisil report

Its senior director and chief ratings officer Krishnan Sitaraman, however, told reporters that the 14 per cent credit growth will place FY25 as the third fastest year over the last decade

Rupee depreciates 2 paise to 83.81 against US dollar in early trade

They said monetary and fiscal stimulus announced by China triggered the withdrawal of foreign funds as investors preferred better-performing Chinese markets

Services, retail credit growth moderate in Aug on drop in credit to NBFCs

Credit to NBFCs grew by 11.9 per cent Y-o-Y in August 2024, sharply down from 21.3 per cent a year ago. Credit to trade declined to 15.5 per cent from 17.4 per cent in August 2023

RBI directs gold loan providers to review policies and practices

Additionally, the RBI, through a circular, instructed these lenders to ensure adequate controls over outsourced activities and third-party service providers