Page 168 - Finance News

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

Indian Bank raises Rs 5,000 crore via long-term infrastructure bonds

This strategic move is part of Indian Bank's efforts to mobilise resources for credit growth and refinancing of infrastructure projects

Moneyboxx Finance raises Rs 176 cr via allotment of equity shares, warrants

In a filing to BSE, the company announced the allotment of equity shares and warrants convertible to equity amounting to Rs 176 crore

Rupee rises 5 paise to 83.91 against US dollar during early trade

Forex traders said the rupee continues to trade within a tight range, as the Reserve Bank of India (RBI) is maintaining a firm grip

How insurance industry is adopting technology to assist customers

Artificial intelligence, data analytics help companies to improve claims processing, solve complaints

Education loan book of NBFCs to cross Rs 60,000 cr but growth slowing

Lenders have reduced exposure to those studying in Canada to 15 per cent in FY24

Private sector needs to step up infrastructure investment: DFS secy

India needs to spend 8-10 per cent of Gross Domestic Product (GDP) on infrastructure for sustaining high single digit growth rate over next couple of decades

NaBFID should become self-sustainable, not rely on govt: RBI dy governor

NaBFID is a development finance institution that was set up in 2021 to focus on infrastructure funding

HDFC in talks with int'l banks to offload $1 bn in loans to cut credit book

The proposed loan portfolio sales, with terms yet to be finalised, would take place through a debt instrument known as pass through certificates, the people added

Rupee holds above lifetime low, supported by likely RBI intervention

That weighed on Asian currencies. But the rupee held its ground, supported by state-run banks' dollar sales, most likely on behalf of the RBI, traders said

Time for fintech NBFCs to revisit business models, says India Ratings

Tight liquidity, signs of stress weighs on business

Reserve Bank to stick to higher digitally-linked deposit buffer proposal

In India, retail and small business accounts make up around two-thirds of deposits, of which more than 50 per cent are digitally accessible, Moody's estimates

Rupee trades in narrow range against US dollar in early hours today

The rupee traded in a narrow range on Wednesday and appreciated 2 paise to 83.96 against the American currency, on easing crude oil prices and tracking its Asian peers.

GST tweak on commercial rentals to bring higher revenue for govt: Experts

May lead to increased burden on tenants but would lead to tax parity, experts say

India pitches for more info sharing on cross-border payments at FATF

At present, under the Travel Rules of FATF, data relating to the name of the sender, recipient, and the country of origin is recorded in any cross-border financial transactions

Investors want govt to sell more short tenor, green bonds, say bankers

The suggestions were made by market participants in a series of meetings about the government's borrowing plan for the second half of the fiscal year

RBI slaps penalties on Axis, HDFC Bank for non-compliance with directives

The RBI had conducted a statutory inspection of bank with reference to its financial position as of March 31, 2022, based on supervisory findings of non-compliance with the central bank's directions