Page 32 - Finance News

AI tools helping identify GST evasion, easing compliance: FinMin

The number of taxpayers registered under GST has increased from 66.5 lakh in 2017 to 1.65 crore as of May 2026, reflecting greater formalisation of the economy, according to the ministry

Small savings rates remain unchanged for 10th consecutive quarter

The Centre has retained interest rates on all small savings schemes for the July-September quarter, extending the status quo for the 10th consecutive quarter despite policy rate cuts

Govt extends deadline for filing GSTAT appeals by one month till July 31

Extension follows representations over technical issues on the GSTAT portal and a sharp increase in appeal filings as the new appellate mechanism becomes operational

Small savings scheme interest rates unchanged for second quarter: FinMin

The interest rate on the Public Provident Fund (PPF) has been retained at 7.1 per cent, while post office savings deposits will continue to earn 4 per cent

From banks, risks to shocks: What RBI's financial stability report says

Banks remain safe and sound, supported by strong capital, continued improvement in asset quality, and stable profitability, says the RBI's Financial Stability Report

Govt extends CBDT Chairman Ravi Agrawal's tenure by 6 months till Dec 2026

The Appointments Committee of the Cabinet approves Ravi Agrawal's reappointment as CBDT chairman on a contract basis from July 1 to December 31, 2026

Govt approves ₹1.25 trillion outlay for India Semiconductor Mission 2.0

Under ISM 1.0, the government approved 10 major projects with cumulative investments of roughly ₹1.60 trillion across six Indian states as of December 31, 2025

Rupee falls 7 paise to 94.58 against US dollar despite stable oil prices

The rupee weakened after closing 6 paise lower in the previous session, as month-end dollar demand remained elevated

IFSCA proposes unique KYC ID for seamless use of GIFT City entities

Draft framework aims to eliminate repetitive KYC by introducing a unique client ID and mandatory KRA integration for regulated entities in GIFT City

India's external debt climbed to $763 billion in FY26, shows RBI data

India's external debt rose to $762.8 billion at the end of FY26, while the external debt-to-GDP ratio increased to 20.8 per cent, according to RBI data

Canara Bank, Bank of Baroda, Indian Bank pay ₹7,023 cr dividend for FY26

For the financial year 2025-26, Canara Bank declared a dividend of 4.2 per share, representing 210 per cent of the face value of Rs 2 each, the lender said in a statement

Microfinance loan book posts sequential uptick in May, says CRIF

CRIF High Mark data showed the microfinance industry's loan portfolio expanded in May as delinquencies eased further, while fresh loan disbursements remained broadly stable

Indian banks may face an AI compliance bill: Who will bear the cost?

RBI's proposed AI risk framework could raise compliance costs across banks, NBFCs and fintechs, creating new demands for audits, oversight and governance

GST enters 10th year: Inside the process behind every GST rate change

Industry associations, companies, state governments, central ministries, tax authorities and even judicial rulings can trigger a review of an existing GST rate or product classification.

July 2026 bank holidays: Full state-wise list of bank closures across India

Bank customers should be aware of the bank holidays in July 2026. To prevent inconvenience, crucial banking tasks should be scheduled around these particular periods

Global bond funds flock to India after tax relief measures, aiding rupee

Overseas investors have stepped up purchases of Indian govt bonds after Centre scrapped taxes on debt investments and relaxed ownership limits, improving market's appeal and supporting capital inflows

India's debt market needs structural reforms to support growth: Deloitte

As per report, Indian economy is entering phase that will require significantly higher levels of long-term capital, but existing debt market is not capable of efficiently meeting those financing needs

Banks may use NRI deposits to ease funding pressures: Axis Bank CEO

Indian banks are taking advantage of a move this month by the Reserve Bank of India to absorb the hedging costs incurred by lenders that raise dollars overseas

Rupee rises 20 paise to 94.25 against US dollar during early trade

Forex traders said the rupee opened on a positive note with oil prices remaining supportive and foreign inflows improving

GIFT City to offer fintechs runway that home turf doesn't to drive growth

Indian fintech firms are expanding into cross-border payments via GIFT City, leveraging IFSCA's PSP licence to tap trade finance, treasury and capital market opportunities