Page 32 - Finance News
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
 "NPCI says same-day cheque clearing stabilised; unions seek RBI help")
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
 "Govt working on mechanism to allow refund of ITC on capital goods")
Centre extends tenure of 16th Finance Commission till November 30
The Commission will mainly make recommendations on the distribution of taxes between the Centre and states for a 5-year period starting April 1, 2026
 "Centre extends tenure of 16th Finance Commission till November 30")
High-level panel to review RBI advisory on EPFO's investment practices
The committee with members from RBI, Labour and Finance Ministries will draft a roadmap to improve EPFO's fund management and accounting practices
 "High-level panel to review RBI advisory on EPFO's investment practices")
RBI announces measures to facilitate cross-border trade transactions
In January 2025, the RBI permitted Indian exporters to open foreign currency accounts with a bank outside India for the realisation of export proceeds
 "RBI announces measures to facilitate cross-border trade transactions")
Explained: How digital payments are fuelling India's economic growth
Govt plans to introduce biometric authentication for UPI payments, but what exactly is a digital payment system and why is it important for the Indian economy?
 "Explained: How digital payments are fuelling India's economic growth")
Digital arrests: Inside India's biggest scam and how to tackle it
Damage caused by the rise of the digital-arrest con, which has found fertile ground amid the country's soaring youth unemployment, endemic corruption and glaring wealth inequality, runs deep and wide
 "Digital arrests: Inside India's biggest scam and how to tackle it")
'Aspirational India' drives up retail digital payments, says report
The Unified Payments Interface remains the primary entry method, while credit instruments like credit cards and 'buy now, pay later' are increasingly favoured for high-value transactions
 "'Aspirational India' drives up retail digital payments, says report")
1 year to 1 month: RBI relaxes rules but keeps checks for fintech expansion
Payment aggregators can add new lines with 30-day notification while staying audit-compliant
 "1 year to 1 month: RBI relaxes rules but keeps checks for fintech expansion")
Finance ministry to review US tariff impact on MSME sector on Monday
DFS secy to meet PSBs to assess credit flow
 "Finance ministry to review US tariff impact on MSME sector on Monday")
Jal Shakti, Skills ministries lag as railways lead pack in total spending
Consumer affairs and railways lead FY26 spending so far, as FinMin launches early pre-budget consultations to ensure fiscal prudence and even-paced expenditure
 "Jal Shakti, Skills ministries lag as railways lead pack in total spending")
SBI to enhance gender diversity, increase female workforce to 30% by 2030
SBI has a total staff strength of more than 2.4 lakh, one of the highest in any organisation in the country
 "SBI to enhance gender diversity, increase female workforce to 30% by 2030")
Opening top PSB posts to pvt sector a 'dangerous precedent': Bank unions
UFBU calls new ACC guidelines a de facto privatisation of leadership and urges government to review the move through a joint stakeholder committee
 "Opening top PSB posts to pvt sector a 'dangerous precedent': Bank unions")
RBI outlines steps to improve investment management of EPFO corpus
Suggests differentiated investment strategies, market-linked accounting
 "RBI outlines steps to improve investment management of EPFO corpus")
RBI consolidates regulatory norms into 238 master circulars, repeals 9,000
The central bank streamlines regulatory framework across 11 entity types and 30 thematic areas to simplify compliance and improve clarity for the financial sector
 "RBI consolidates regulatory norms into 238 master circulars, repeals 9,000")
NITI Aayog calls for pruning tax offences from 35 to six in new paper
The new paper proposes a three-tier approach to decriminalise minor tax offences and retain criminal liability only for wilful and high-value evasion
 "NITI Aayog calls for pruning tax offences from 35 to six in new paper")
Relaxation of risk weights unlikely to spur growth in absence of demand
Banks in India are currently sitting on excess capital, with CET1 ratios around 14.7 per cent, well above the regulatory requirement of 8-9 per cent
 "Relaxation of risk weights unlikely to spur growth in absence of demand")
Govt opens up State Bank of India managing director position to pvt sector
FSIB may hire HR agency to carry out behaviour and competency assessment of candidates
 "Govt opens up State Bank of India managing director position to pvt sector")
Finance ministry raises questions over PLI plan for rare-earth output
Says these subsidies could leave bidder with little incentive to improve efficiency or cut costs
 "Finance ministry raises questions over PLI plan for rare-earth output")
Recent RBI policies to help banks stay at equilibrium: K V Kamath
Jio Financial Services Chairman K V Kamath says RBI's latest measures will restore equilibrium in bank lending and boost corporate credit growth
 "Recent RBI policies to help banks stay at equilibrium: K V Kamath")