Page 431 - Finance News

What exactly is cryptocurrency and how it works?

A day after the budget, Finance Secretary TV Somnathan said the govt doesn't treat trading in crypto assets as illegal. Find out what is cryptocurrency and the challenges it is posing for the govt

RBI to conduct Rs 4 trillion rollover VRRR auction on Friday

Banks aren't participating in auctions enthusiastically as the system liquidity is being steadily drained by the RBI

Budget 2022-23: Gross borrowing likely to fall Rs 63.5K crore in FY23

The massive borrowing plan announced by the government in the FY23 Union Budget may get trimmed by Rs 63,500 crore.

Omicron spread: Services PMI falls to six-month low in January

India's services sector activity moderated to a six-month low in January, amid imposition of restrictions across the country due to the Omicron variant as well as inflationary pressures

Reserve Bank of India likely to tweak norms to reduce MFI risk

RBI may tweak the qualifying assets threshold for microfinance institutions (MFIs) to 75 per cent of their net assets, compared with the current level of 85 per cent of net assets

Banks need prior approval for foreign currency deposit schemes

The Reserve Bank of India (RBI) has mandated banks to seek prior approval before offering any foreign currency deposit scheme to custom-ers under the liberalised remittance route

RBI likely to move Trai, MeitY against unauthorised forex platforms

May seek invocation of clauses in major social media and search engines like FB, Google, etc to disallow adv content that is not compliant with local laws of their target audience

Mahindra Finance aims to reduce its net NPA below 4% by March-end

Non-banking financial company Mahindra and Mahindra Finance is aiming to reduce its net non-performing assets (NPA) ratio to below 4 per cent by March-end.

RBI red flags unauthorised forex trading platforms, warns of penalties

Cautions public against undertaking forex deals on unauthorised electronic trading platforms, or remit and deposit money for such transactions

RBI may hike reverse repo rate by 0.25% in next week's policy: Report

'Growth concerns amid spread of the Omicron variant and relatively benign inflation out-turns provide the RBI with enough room to maintain its growth-supportive monetary policies,' analysts said

Union Budget 2022: Govt borrowing plan may prompt reverse repo hike

15-40 bps raise likely in MPC meeting next week, say market participants

IOB Q3 net profit goes up by 113% as provisions decline sharply

The public sector lender's net interest margin declined to 2.4 per cent in Q3FY22 from 2.45 per cent in Q3FY21

HDFC Ltd's Q3 net up 11% YoY to Rs 3,261 cr, beats street estimates

Higher income and lower-than-expected credit loss cited for better show; NII up 7% to Rs 4,284 crore

Next year's ITR to have separate column for crypto income: Revenue Secy

Income tax return forms from next year will have a separate column for making disclosures on gains made from cryptocurrencies and paying taxes, Revenue Secretary Tarun Bajaj said on Wednesday.

PSBs poised for growth despite zero capital from govt this budget: Agencies

Decision to not earmark funds for recapitalisation reflects confidence in capital position of such banks, as well as their ability to raise funds from market

Budget 2022: India to join a small group of countries with digital currency

Till now, only nine of the 91 countries have launched a central bank digital currency

HDFC Q3 results: Net profit rises 11% to Rs 3,261 cr

Net interest income rose 5% to Rs 4,284 cr

Cryptocurrency tax and Digital Rupee to spur adoption of cryptos: Industry

Clarity required on how digital collectibles like NFTs will be taxed, say experts

Citi abandons day-old buy call in 'perfect storm' for India debt

Citigroup Inc. offered a glimpse of the conditions facing the nation's debt when it withdrew a buy call within a day of recommending purchases

What is Demand for Grants?

The Union Budget is finalised with inputs from all ministries and departments about estimates of their spending for the next FY. This estimate tabled as part of the Budget is called Demand for Grants