Page 49 - Finance News
8th pay commission payout may trigger rate hike cycle in FY27: Report
QuantEco Research says delayed 8th CPC payouts with arrears could fuel inflation, tilt growth balance and push RBI to resume rate hikes in late FY27 or early FY28
 "8th pay commission payout may trigger rate hike cycle in FY27: Report")
The Karnataka Bank saga: A clash of egos and cultures in old private banks
Karnataka Bank was founded by a group of agriculturists, lawyers and businessmen, led by BR Vysaray Achar, to promote economic development in the South Canara region. It has no identified promoter
 "The Karnataka Bank saga: A clash of egos and cultures in old private banks")
Morgan Stanley warns of NBFC earnings cuts, urges selective approach
Morgan Stanley sees more FY26 earnings downgrades for NBFCs and advises investors to focus on stocks with strong fundamentals and valuation safety amid sector volatility
 "Morgan Stanley warns of NBFC earnings cuts, urges selective approach")
GST overhaul: Most items to attract 5%, 18% tax; luxury goods may touch 40%
Nearly 99 per cent of items currently taxed at 12 per cent are expected to move to the 5 per cent slab, while most of the goods in the 28 per cent bracket would fall under the 18 per cent rate
 "GST overhaul: Most items to attract 5%, 18% tax; luxury goods may touch 40%")
PM Modi unveils GST reforms with tax cuts, two-slab structure plan
PM Modi announced "next generation" GST reforms to lower taxes on essentials, simplify rates to two slabs, and ease compliance, with the GST Council to take up proposals soon
 "PM Modi unveils GST reforms with tax cuts, two-slab structure plan")
Banks roll over ₹1.82 trn at RBI's 8-day VRRR auction to absorb liquidity
RBI accepts Rs 1.82 trillion at 8-day VRRR auction as banks roll over maturing funds from earlier operations amid surplus system liquidity
 "Banks roll over ₹1.82 trn at RBI's 8-day VRRR auction to absorb liquidity")
Authum Investment & Infra promoter divests 2.7% stake for ₹1,165 cr
According to the bulk deal data on the BSE, Mentor Capital offloaded 46.61 lakh shares, representing a 2.74 per cent stake in Mumbai-based Authum Investment & Infrastructure Ltd (AIIL)
 "Authum Investment & Infra promoter divests 2.7% stake for ₹1,165 cr")
RBI's revised co-lending norms likely to boost NBFC growth: Crisil
The revised norms allow Direct Lending Guarantees across loan types and reduce the minimum loan retention threshold for NBFCs to 10%, says Crisil
 "RBI's revised co-lending norms likely to boost NBFC growth: Crisil")
RBI's AI panel calls for balancing innovation with risk mitigation
Seven sutras outlined for fair, transparent, and safe AI adoption
 "RBI's AI panel calls for balancing innovation with risk mitigation")
SBI to impose nominal charges from Aug 15 on IMPS transfers beyond ₹25,000
Transactions above ₹ 25,000 done through online channels will now attract nominal charges ranging from ₹ 2-10 plus Goods and Services Tax (GST)
 "SBI to impose nominal charges from Aug 15 on IMPS transfers beyond ₹25,000")
Banks to clear cheques within few hours from October 4, says RBI
Cheques will be scanned, presented, and passed in a few hours and on a continuous basis during business hours. The clearing cycle will be reduced from the present T+1 days to a few hours
 "Banks to clear cheques within few hours from October 4, says RBI")
Monetary Policy Committee likely to get a new member before October meet
Indranil Bhattacharyya will take over as executive director in charge of the monetary policy department as Rajiv Ranjan is set to retire
 "Monetary Policy Committee likely to get a new member before October meet")
RBI allows NRIs to invest rupee surplus in vostro accounts in G-secs
In a communication to all authorised dealer category-I banks, it said the directions take effect immediately and asked the banks to communicate the same to their clients
Simple language, lucid, says FM as Parliament passes Income Tax Bill, 2025
Opposition members staged a walkout in the Rajya Sabha during the discussion, mirroring their protest in the Lok Sabha on Monday
 "Simple language, lucid, says FM as Parliament passes Income Tax Bill, 2025")
MFIN seeks ₹20,000-cr credit guarantee from govt to boost NBFC-MFIs
MFIN seeks a ₹15,000-₹20,000 crore government-backed credit guarantee to encourage banks to lend to NBFC-MFIs, citing improved collection efficiency and liquidity needs
 "MFIN seeks ₹20,000-cr credit guarantee from govt to boost NBFC-MFIs")
Microfinance sector seeks up to $2.2 bn credit guarantee support from govt
The total loans outstanding for the sector were ₹3.5 trillion in June 2025, down 16.7 per cent from June 2024, the data showed
 "Microfinance sector seeks up to $2.2 bn credit guarantee support from govt")
Raising FDI limit for insurers to 100% will create jobs: FM Sitharaman
The increase in FDI in Indian insurance companies from 74 per cent to 100 per cent was announced in the Union Budget on February 1, 2025
 "Raising FDI limit for insurers to 100% will create jobs: FM Sitharaman")
Net direct tax mop-up falls nearly 4% to ₹6.64 trn in FY26 on high refunds
Total net collections stood at about Rs 6.64 trillion, a 3.95 per cent fall over Rs 6.91 trillion collected in the same period last fiscal (2024-25)
 "Net direct tax mop-up falls nearly 4% to ₹6.64 trn in FY26 on high refunds")
New Income-Tax Bill restores alternate minimum tax relief for LLPs
Lok Sabha clears revised I-T Bill, along with tax law amendments
 "New Income-Tax Bill restores alternate minimum tax relief for LLPs")
RBI says re-KYC completed for over 3.5 mn accounts in FI campaign
RBI reports 3.5 mn bank accounts have completed re-KYC during nationwide financial inclusion camps running from July to September 2025 at Gram Panchayat level