Page 167 - Finance News

FM reviews Railway Ministry's capex plan, asks to expedite 'Kavach' system

MoR officials informed the Minister that Kavach-related works are currently in progress in over 3000RKm (route km) on the Delhi-Howrah and Delhi-Mumbai sections

Phoenix ARC gets EOIs from ARCs for Rs 3,550 crore retail NPA sale

Based on requests received from ARCs, Phoenix ARC has decided to extend the due diligence period from September 16 to September 24

No tax rate reductions for old regime, clarifies Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said that the government is not compelling anyone to switch from the old to the new tax regime

Rupee gains 2 paise to 83.84 against US dollar during early trade

However, a sluggish trend in the domestic equities and fresh foreign fund outflows amid US rate cut expectations restricted the rise in the local unit

Foreign banks in regulatory standoff seek RBI relief on trading rules

In October 2022, Esma de-recognised the Clearing Corporation of India, creating significant obstacles for European banks conducting large-scale transactions

Rupee expected to remain steady ahead of US Fed decision this week

The 1-month non-deliverable forward indicated that the rupee will open at 83.87-83.88 to the US dollar

Rs 42,300 cr loans given since launch of account aggregator framework

4.22 million loans disbursed on the platform; nearly half of it facilitated in H2FY24

Old lending practices a constraint in catering to agri sector: RBI dy guv

He highlighted that institutional credit to agriculture reached an all-time high of Rs 25.10 trillion during FY24

Rate cut hinges on inflation trajectory: RBI Governor Shaktikanta Das

Rupee strength driven by strong fundamentals, not artificial intervention: RBI guv

Indian companies file ECB plans worth $3.58 billion in July 2024

According to RBI data, among the prominent firms which have filed intent are ONGC Videsh Ltd for $800 million to be raised from an overseas branch of an Indian commercial bank

FM Nirmala Sitharaman to launch NPS-Vatsalya scheme on September 18

NPS-Vatsalya scheme is designed as a variant of the existing National Pension System (NPS), specifically tailored for younger individuals

Rupee rises 5 paise to 83.87 against US dollar during early trade

Forex traders said market participants are eagerly awaiting cues from the US Fed policy

Rupee to receive boost as chances of significant Fed rate cut rise

The 1-month non-deliverable forward indicated that the rupee will open flat-to-slightly-higher to the US dollar

RBI plans to revamp currency management infra to cater to future cash needs

The RBI, according to the document, is interested in modernisation of the currency (banknotes and coins) management infrastructure across India to create adequate state-of-the-art storage

GST Council forms GoM to review tax rate on insurance; report by Oct 30

In 2023-24, the centre and states collected Rs 8,262.94 crore through GST on health insurance premiums, while Rs 1,484.36 crore was collected on account of GST on health reinsurance premiums

MoS Finance likely to be convenor of GoM on GST compensation cess

Finance Minister Nirmala Sitharaman last week said the loan and interest are expected to be repaid as early as December 2025 or January 2026

Rs 2 trn GST evasion detected in FY24, online gaming most prone to evasion

The amount is double of over Rs 1.01 trillion detected in 2022-23 in 4,872 cases. Out of these, voluntary taxes of Rs 26,605 crore was paid in 2023-24, up from Rs 20,713 crore in 2022-23

India's forex reserves rise $5.25 billion to new peak of $689.24 billion

The overall kitty had jumped by $2.299 billion to a record $683.987 billion for the previous reporting week

Short-sellers may target banks with large CRE exposure: RBI governor Das

'We still have distance to cover,' Das says on inflation

10-year bond yield falls to 6.79% on US Fed rate-cut expectations

Yield on longest-tenure govt bond, 50-yr paper, drops below 7% for 1st time on insurers' demand