Page 21 - Finance News

I-T department begins action on firms failing to report high-value deals

The Income Tax Department has started issuing notices and levying penalties on these non-compliant entities, directing field officers to complete the process by end-November

RBI initiatives helping cross-border trade, payments: Governor Malhotra

RBI Governor Sanjay Malhotra said linking UPI with global fast payment systems and building sovereign platforms will boost cross-border trade, improve efficiency, and lower costs

Allianz appoints Ritu Arora as country head for India effective immediately

In her role as Asia CIO, she managed investment functions across 12 countries with assets under management totalling about $50 billion, significantly boosting investments in Indian public markets

RBL Bank to explore equity fund raise during October 18 board meet

Board may approve equity shares, linked instruments via preferential issue or private placement

RBI not targeting any specific Rupee level, says Guv Malhotra at IMF

The Reserve Bank of India is selling dollars in both onshore and offshore markets after what it saw as speculative attacks by global fund managers on the rupee

Axis Finance to become upper-layer NBFC; listing likely within 3 years

Axis Bank CEO Amitabh Chaudhry says the NBFC arm's size qualifies it for upper-layer classification; stake sale planned to raise growth capital amid RBI's revised norms

Festive demand, tech push lift India's PE-VC deal value to $26 bn in 2025

During the first nine months of 2025, PE and VC investments have already exceeded the aggregate investment amount recorded in the whole of 2023 and 2024, respectively

Sebi chief urges public interest directors to strengthen governance at MIIs

Speaking at the Public Interest Directors Conclave, the Sebi chairman said that the role of PIDs will increase in significance and will also be under increased scrutiny

Paytm brings entities under direct ownership to simplify structure

The move consolidates Paytm's offline and online merchant payments and brings insurance and lending arms under One97 Communications' direct control

Algorithmic decision-making, data concentration pose systemic risks: RBI DG

RBI Deputy Governor Swaminathan J says fintech growth and technological interconnections require strong digital governance to prevent systemic vulnerabilities

Paytm transfers offline merchant payments to PPSL to comply with RBI norms

In another company development, One 97 Communications Ltd also approved a comprehensive internal restructuring plan to bring several of its financial and technology subsidiaries under direct ownership

RBI's liquidity boost falters amid FX market intervention, say analysts

In June, the central bank announced a phased 100-basis-points CRR cut from September to November to release about ₹2.5 trillion ($28.3 billion)

ULI 'turning point' in providing affordable credit: RBI deputy governor

Upcoming digital platform has the potential to achieve transformative impact of UPI, says Swaminathan J

A fine balance for fintech as investors put compliance ahead of valuation

Industry that was touted to overtake legacy banks and financial institutions gets wake-up call

Indian banking sector sees wave of foreign investments, say experts

Experts attribute the trend to country's growth potential, regulatory stance

GST reform drives record surge in Policybazaar's insurance traffic

Policybazaar sees highest-ever health and term insurance traffic after GST exemption on premiums, with demand rising up to 2.5x since the policy rollout

Growth rate of digital loans moderates in Q1FY26, says FACE report

The share of digital loans by value has grown from 12 per cent in FY23 to 20 per cent in Q1FY26. The volume share, however, has risen from 67 per cent in FY23 to 80 per cent in Q1FY26

NBFC-MFIs' bad loans seen falling to 3.6% by March 2026: CareEdge

The decline in bad loans will be driven by write-offs and tighter lending norms, though credit costs are expected to remain elevated in FY26, says CareEdge Ratings

NPCI says same-day cheque clearing stabilised; unions seek RBI help

NPCI says the new t+0 cheque clearing system is stable after early glitches, while bank unions urge RBI to ensure smoother implementation during the festive period

Govt working on mechanism to allow refund of ITC on capital goods

An inverted duty structure arises when the tax rate on inputs is higher than that on finished goods, leading to accumulation of unutilised ITC