Page 233 - Finance News

FinMin to meet heads of PSBs on Sat; review implementation of govt schemes

The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Kisan Credit Card (KCC)

Govt extends non-preferential certificate of origin online filing period

The new deadline is till Dec 2024. The DGFT in a trade notice said during this period, the existing systems of processing non-preferential certificate of origin applications in manual mode is allowed

NPCI kickstarts deployment of 'UPI Tap and Pay' facility for payment apps

The feature is currently live on Bharat Interface for Money or BHIM app along with Paytm where it is open for limited users, according to details on NPCI's website

RBI proposes framework to rationalise money changers' authorisation

In order to reduce the regulatory burden and enhance the ease of doing business, it is proposed to renew an existing authorisation as an AD Category-II on a perpetual basis

NBFC loan sanctions shrink by 5% to Rs 2.09 trn in urban area: FIDC

Growth in Semi-urban, rural areas holds up

BOJ Governor Ueda sees benefits of positive inflation on policy process

"I believe that greater economic stability as a result of securing room for monetary policy responses will have significant positive effect on firms as they formulate their business plans," Ueda said

Flows into NRI deposits double Y-o-Y to $6.11 billion in April-October 23

Flows into Foreign Currency Non-Resident (FCNR) moved back to positive territory with $2.06 billion in April-October 2023 as against an outflow of $814 million in the same period of 2022

Number of GST return filers up 65% to 11.3 mn in 5 years: Finance ministry

Also, the number of active taxpayers registered under GST increased from 10.6 million as of April 2018, to 14 million

'Cut essential to check high real interest rate', says RBI MPC member

Jayanth Varma, an external member of the RBI's Monetary Policy Committee, has stated that an interest rate cut is required to prevent excessive real interest rates amid changing economic landscape

Reserve Bank explores stringent measures to combat illegal forex trading

The RBI has compiled an alert list comprising 75 entities, including unauthorised platforms and websites involved in unauthorised forex transactions

Trade challenges in 2023: India relatively steady amid global slowdown

In India, the export and import figures have been trending downwards mainly due to fall in commodity prices and freight rates compared to the previous year

NaBFID MD bats for re-introduction of S4A-like debt recast scheme

NaBFID MD Rajkiran Rai G has said there is a need to re-introduce the Scheme for Sustainable Structuring of Stressed Assets (S4A) scheme to help infrastructure finance in the future

RBI imposes Rs 2 lakh penalty on TDCC Bank for sanctioning loan to director

The penalty was imposed under the powers conferred on the RBI under sections of the BR Act

NFRA finds deficiencies in audit quality inspection of Big four firms

In its firm-wide review of audit control systems of BSR & Co, the Authority found that the firm's claim of being independent from KPMG India entities was unacceptable

Credit card spending take 10% dip in Nov as festive season comes to end

Point of Sale (PoS) transactions increased to Rs 59,014.93 crore in November from Rs 57,774.35 crore in October

Centre asks state-run banks to review top 20 insolvency cases monthly

The government has asked for reviews of insolvency cases as there are delays in admission of cases in insolvency courts

IFSCA forms committee on transition finance to formulate framework

The committee has been tasked to assess the trends in the segment and identify the best practices for transition finance in India by 2047

NBFCs begin provisioning for AIF exposure after RBI tightens norms

Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact

SBI to sign 200 mn euro LoC with EIB to support climate action projects

The loan document will become operational, subject to necessary approvals, it said.

Yes Bank co-founder Rana Kapoor gets bail in ED case related to loan fraud

A special court here on Thursday granted bail to Yes Bank cofounder Rana Kapoor in a money-laundering case linked to alleged financial irregularities at the bank