Page 272 - Finance News
Corporate funding in global solar up 54% to $18.5 bn in Jan-Jun: Report
During January-June 2023, global VC funding was at $3.8 billion through 33 deals, 3 per cent compared to $3.7 billion in 53 deals in the first half of 2022
 "Corporate funding in global solar up 54% to $18.5 bn in Jan-Jun: Report")
RBI likely to maintain status quo in upcoming monetary policy: SBI Chairman
"As a bank we don't don't expect rate cut, status quo is likely to be maintained by the RBI," Dinesh Khara, Chairman, SBI said at an event organised by industry body CII
 "RBI likely to maintain status quo in upcoming monetary policy: SBI Chairman")
World Bank chief Ajay Banga eyes corporate philanthropy to raise funds
A panel appointed by Indian presidency of G-20 has estimated that $3 trillion is needed every year through 2030 for issues including debt relief to low-income countries and to fight climate change
 "World Bank chief Ajay Banga eyes corporate philanthropy to raise funds")
NRIs asked to approach tax officers with residential status proof for PAN
The PANs, according to the department, have become inoperative in cases where NRIs have not updated their residential status or have not filed returns in the last three AYs
 "NRIs asked to approach tax officers with residential status proof for PAN")
G20 meeting discusses cryptocurrencies, regulatory framework for them
. On global debt vulnerabilities, G20 members actively deliberated on how to strengthen multilateral coordination to effectively address the deteriorating debt situation
 "G20 meeting discusses cryptocurrencies, regulatory framework for them")
PFRDA to allow pension funds for investments in sovereign green bonds
The AUM is expected to touch Rs 11 trn by the end of FY24
 "PFRDA to allow pension funds for investments in sovereign green bonds")
PFRDA to allow funds to invest in sovereign green bonds: Chairman Mohanty
The regulator will allow pension fund to invest in sovereign green bonds as and when issued, Mohanty said
 "PFRDA to allow funds to invest in sovereign green bonds: Chairman Mohanty")
Withdrawal of Rs 2,000 notes pushes deposit to six-year high in June
In absolute terms, deposits rose by Rs 22 trn in the trailing 12-month period when it had stood at Rs 185.7 trn
 "Withdrawal of Rs 2,000 notes pushes deposit to six-year high in June")
India to push G20 to raise share of taxes on firms for 'excess profit'
More than 140 countries were supposed to start implementing next year a 2021 deal overhauling decades-old rules on how governments tax multinationals
 "India to push G20 to raise share of taxes on firms for 'excess profit'")
G20 FMs discuss ways to improve tax transparency, anti-evasion measures
The proposed two-pillar solution consists of two components, including re-allocation of multinational companies' additional share of profit to the market jurisdictions where they operate
 "G20 FMs discuss ways to improve tax transparency, anti-evasion measures")
Rupee settles flat at 82.03 against dollar, supported by positive equities
Market participants remained cautious ahead of retail sales data from the US and the UK's inflation data this week, forex traders said
 "Rupee settles flat at 82.03 against dollar, supported by positive equities")
Avoid going overweight on equities, especially hot themes and sectors
Also refrain from exiting the market in the hope of re-entering at a lower valuation
 "Avoid going overweight on equities, especially hot themes and sectors")
RBI continues dollar-buying spree, accumulates $16 billion since Feb
Central bank purchased $7.7 bn in April, the most in two years, and $7.37 bn in May
 "RBI continues dollar-buying spree, accumulates $16 billion since Feb")
Banks cautious over uncertainty around withdrawn Rs 2,000 notes
Lenders hesitate to deploy excess funds with the central bank due to uncertainty about the duration of recently withdrawn Rs 2,000 notes, affecting liquidity overall as loan demand remains strong
 "Banks cautious over uncertainty around withdrawn Rs 2,000 notes")
RBI's returns from investments are set to jump by $6-8 bn in FY24
On the back of improving external conditions, the RBI's balance sheet expanded to the tune of 8% in the past 8 months, led by revaluation gains as it bought back dollars
RBI buys $7.37 billion in spot foreign exchange market in May: Bulletin
The Indian rupee depreciated by over 1% against the dollar in May
 "RBI buys $7.37 billion in spot foreign exchange market in May: Bulletin")
Salary, fee or business gains? Type of moonlighting income decides taxation
The taxman, unlike your employer, knows about your moonlighting income via TDS, so disclose it accurately
 "Salary, fee or business gains? Type of moonlighting income decides taxation")
UBS Group AG is 'sole successor' to Credit Suisse's CDS, panel rules
Credit-default swaps tied to the debt of the two banks have been converging in recent months as investors bet on this outcome
 "UBS Group AG is 'sole successor' to Credit Suisse's CDS, panel rules")
India and Indonesia plan local currency trade, fast payments links
The proposed agreements with Indonesia comes as India inked similar pacts with the United Arab Emirates over the weekend, which will see more trades done in rupees and dirhams
 "India and Indonesia plan local currency trade, fast payments links")
PSBs stepping up recovery of bad loans to meet FinMin's 40% target: Report
In the five years that ended on March 31, 2022, the PSBs were able to recover only 14 per cent, Rs 1.03 trillion, out of the total written-off loans of Rs 7.34 trillion
 "PSBs stepping up recovery of bad loans to meet FinMin's 40% target: Report")