Page 193 - Finance News
Rupee hits new low of 83.57 against US dollar ahead of Fed meeting
Market participants speculated that RBI intervened in the foreign exchange market by selling dollars, which protected the rupee from further depreciation
 "Rupee hits new low of 83.57 against US dollar ahead of Fed meeting")
IBBI proposes reducing compliance burden, simplifying forms for RPs
Looks to simplify forms submitted for corporate insolvency resolution process
 "IBBI proposes reducing compliance burden, simplifying forms for RPs")
Is the Centre planning to decriminalise minor I-T offences in 100 days?
The industry has long suggested that minor Income Tax offences incur penalties rather than criminal prosecution. This would garner more trust and boost ease of doing business
 "Is the Centre planning to decriminalise minor I-T offences in 100 days?")
State Bank of India plans to raise up to $3 billion via debt in FY25
Several state run-lenders, including Canara Bank, Punjab and Sind Bank and Punjab National Bank , plan to raise funds via debt this fiscal year
 "State Bank of India plans to raise up to $3 billion via debt in FY25")
RBI must review plan to raise provisions against infra loans: Lobby group
Last month, the Reserve Bank of India (RBI) proposed that banks and non-banking financial companies set aside a provision of 5 per cent of the total loan amount of infrastructure projects
 "RBI must review plan to raise provisions against infra loans: Lobby group")
Tax tribunals in Delhi and Mumbai allow deductions for CSR donation
Tax authorities had earlier argued that since CSR expenditures were mandated by law, they were not voluntary and therefore, did not qualify as donations for tax deductions
 "Tax tribunals in Delhi and Mumbai allow deductions for CSR donation")
Rupee remains stable, volatility expectations drop as RBI maintains grip
The rupee remained in a narrow band on Monday, with likely intervention from the RBI limiting weakness in the currency, traders said
 "Rupee remains stable, volatility expectations drop as RBI maintains grip")
Modi govt plans to stick to deficit target despite Lok Sabha poll setback
Rating agencies and analysts have said the government may step up welfare spending as well as support for states represented by partners in the National Democratic Alliance
 "Modi govt plans to stick to deficit target despite Lok Sabha poll setback")
Modi 3.0: Nirmala Sitharaman set to present seventh Budget in a row
A JNU alumnus, Sitharaman led the country in the G20 discussions, bringing to the table for the very first time issues related to cryptocurrency and other much-needed reforms as well
 "Modi 3.0: Nirmala Sitharaman set to present seventh Budget in a row")
Microfinance loans up 24.5% to Rs 4.3 trn in FY24, NBFC-MFIs see moderation
The total loan accounts rose to 149 million at the end of March 2024 from 130 million a year ago
 "Microfinance loans up 24.5% to Rs 4.3 trn in FY24, NBFC-MFIs see moderation")
NDA govt proposes 50% assured pension for central govt staff under NPS
The Modi govt has set up a committee led by Finance Secretary T V Somanathan in 2023 to explore ways to improve pension benefits under the NPS after states began reverting to OPS
 "NDA govt proposes 50% assured pension for central govt staff under NPS")
Rupee depreciates 10 paise to 83.50 against US dollar in early trade
On Friday, the rupee appreciated 13 paise to 83.40 against the US dollar
 "Rupee depreciates 10 paise to 83.50 against US dollar in early trade")
Rupee, govt bonds to eye US inflation prints, Fed policy for cues
The rupee closed at 83.3725 against the US dollar on Friday, up 0.1 per cent for the week
Cheaper rupee boosting its lure as carry trade, says Bank of America
The rupee has become one of the least volatile currencies in emerging markets, aided by a long interest-rate pause by the Reserve Bank of India and record foreign exchange reserves
 "Cheaper rupee boosting its lure as carry trade, says Bank of America")
PNB to expand overseas footprint, to open representative office in Dubai
As on March 31, 2024, PNB had presence in six countries by way of two subsidiaries (London-UK and Bhutan), one joint venture (Nepal), two representative offices (Myanmar and Bangladesh)
 "PNB to expand overseas footprint, to open representative office in Dubai")
Statsguru: RBI's earnings from foreign currency assets rise significantly
Foreign currency asset earnings, which were more than twice the earnings from domestic sources, were the primary reason behind the boost in overall income in 2023-24
 "Statsguru: RBI's earnings from foreign currency assets rise significantly")
RBI opens gates for investors, companies to invest in overseas funds
The RBI issued a circular on Friday amending the Foreign Exchange Management (Overseas Investment) Directions, 2022, lifting several restrictions
 "RBI opens gates for investors, companies to invest in overseas funds")
India's foreign exchange reserves hit new peak of $651.5 billion
Governor Das expressed confidence that the central bank was well-positioned to meet the country's external financing requirements comfortably
 "India's foreign exchange reserves hit new peak of $651.5 billion")
Reserve Bank of India to set up platform to curtail payment frauds
Auto replenishment facility for Fastags, NCMCs, UPI Lite wallets
 "Reserve Bank of India to set up platform to curtail payment frauds")
Consumers see further rise in spending over one year, says RBI survey
More respondents see inflation rise over one year
 "Consumers see further rise in spending over one year, says RBI survey")