Page 269 - Finance News
Fiscal deficit for April-June at 25.3% of annual target: Govt data
Total expenditure during the period was Rs 10.51 trillion,or 23.3% of the annual goal, lower than the Rs 9.48 trillion in the same period last year
 "Fiscal deficit for April-June at 25.3% of annual target: Govt data")
Forex reserves drop $1.98 bn to $607 bn for week ended July 21: RBI
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves
 "Forex reserves drop $1.98 bn to $607 bn for week ended July 21: RBI")
Govt gets over Rs 3,400 cr dividend from NIIF, ECGC: DIPAM Secretary
The government has received over Rs 3,400 crore as dividend tranches from NIIF and ECGC.
 "Govt gets over Rs 3,400 cr dividend from NIIF, ECGC: DIPAM Secretary")
RBI likely to maintain status-quo on key interest rates, say experts
The borrowing cost which started rising in May last year has stabilised with RBI keeping the repo rate unchanged at 6.5 per cent since February when it was raised from 6.25 per cent
 "RBI likely to maintain status-quo on key interest rates, say experts")
Global financial architecture needs to be alerted to suit requirement: Kant
At present, he said, the share of developed economies has come down to 48% while that of emerging nations has increased to 37%
 "Global financial architecture needs to be alerted to suit requirement: Kant")
Not akin to residential units, hostel accommodation to attract 12% GST: AAR
"PG/Hostel Rent paid by inhabitants do not qualify for GST exemption as the services provided by applicant are not akin to renting of residential dwelling for use as residence," Bengaluru bench said
 "Not akin to residential units, hostel accommodation to attract 12% GST: AAR")
Indian companies to soon directly list on IFSC bourses: FM Sitharaman
Sitharaman urges financial regulators to maintain a balance between light-touch regulation and full-fledged supervision
 "Indian companies to soon directly list on IFSC bourses: FM Sitharaman")
Indian banks' loans rose 20.2% y-o-y in 2 weeks to July 14: RBI data
Indian banks' loans rose 20.2% in the two weeks to July 14 from a year earlier, while deposits rose 13.2%, the Reserve Bank of India's weekly statistical supplement showed on Friday
Equitas Small Finance Bank Q1 PAT soars by 97.1% to Rs 191 crores
Private sector Equitas Small Finance Bank Ltd has reported a 97.1 per cent jump in its profit after tax for the April-June 2023 quarter at Rs 191.20 crore, the bank said on Friday
 "Equitas Small Finance Bank Q1 PAT soars by 97.1% to Rs 191 crores")
UCO Bank opens 4 special rupee vostro accounts, gets RBI nod for 8 more
"In addition, four more banks have approached us to open SRVA accounts. After completing their formalities, we will be approaching RBI seeking approval," he added
 "UCO Bank opens 4 special rupee vostro accounts, gets RBI nod for 8 more")
DFS secretary expects general insurers to post record profit like PSBs
Bima Vahak, Bima Vistar, Bima Sugam will be game changer, says Irdai chairman
 "DFS secretary expects general insurers to post record profit like PSBs")
Limit exposure to pharma and healthcare funds to 5% of equity portfolio
Improving US generic market outlook is driving the current rebound, but brace for periodic drawdowns
 "Limit exposure to pharma and healthcare funds to 5% of equity portfolio")
FM pitches for regulatory impact assessments to enhance accountability
She said having such a facility can help enhance the transparency and accountability in the policymaking process
 "FM pitches for regulatory impact assessments to enhance accountability")
Indian firms can go for listing on foreign exchanges, IFSC: Sitharaman
The nod, which came after three years of announcement as part of the Covid relief package, will enable domestic companies to access foreign funds by listing their shares on various exchanges overseas
 "Indian firms can go for listing on foreign exchanges, IFSC: Sitharaman")
Indian banks to witness record profitability in FY24: SBICAPS report
It added that the repo rate is expected to remain at current levels until late in FY24
 "Indian banks to witness record profitability in FY24: SBICAPS report")
At a crossroads: Finance, tech hub GIFT City looks for a new present
The concept is really of a tri-city--Gandhinagar and Ahmedabad on two sides of the GIFT City-almost merging the old and the new
 "At a crossroads: Finance, tech hub GIFT City looks for a new present")
Rent on PG accommodation, hostel services to attract GST: Karnataka AAR
Rent for residential dwellings would qualify for GST exemption, says authority
 "Rent on PG accommodation, hostel services to attract GST: Karnataka AAR")
Bet on money market funds for a horizon of 6-12 months: Should you invest?
For longer periods go for corporate bond funds or banking and PSU funds
 "Bet on money market funds for a horizon of 6-12 months: Should you invest?")
Digital payments rise 13% y-o-y at March-end 2023, shows RBI data
Digital payments across the country registered a growth of 13.24 per cent in a year through March 2023, as per RBI's index that measures the adoption of online transactions.
Govt ratifies 8.15% interest rate on Employees Provident Fund for 2022-23
The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23
 "Govt ratifies 8.15% interest rate on Employees Provident Fund for 2022-23")