Page 50 - Finance News

New Income-Tax Bill restores alternate minimum tax relief for LLPs

Lok Sabha clears revised I-T Bill, along with tax law amendments

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

Govt plans credit guarantees for small firms, exporters hit by US tariffs

The federal finance ministry has proposed to provide 10-15 per cent credit guarantees to banks for advancing loans to stressed small businesses, with turnover up to ₹500 crore

VinFast Auto India, HDFC Bank partner for auto, inventory financing

The two partners have signed a Memorandum of Understanding (MoU) for the same, the company, a subsidiary of Vietnam's EV maker VinFast, said in a statement

Monsoon session: Lok Sabha passes two tax bills amid din, without debate

These Bills, introduced by Finance Minister Nirmala Sitharaman, were passed without any debate amid vociferous protest by member of Opposition over revision of electoral rolls in Bihar

FM Sitharaman introduces modified Income Tax Bill in Lok Sabha

Introducing The Income-TaIntroducing The Income-Tax (No.2) Bill, 2025, Sitharaman said the bill seeks to consolidate and amend the law relating to income-tax and will replace the Income Tax Act, 1961

India's tax reform needs more economic focus, less political manoeuvring

Over eight years later, GST has fallen short of expectations, prompting the government to appoint Home Minister Amit Shah to lead negotiations for its reform

No plan to restore OPS due to its 'unsustainable fiscal liability', says FM

Finance Minister Nirmala Sitharaman said the features of Unified Pension Scheme have been designed to ensure payment of assured payouts while also maintaining the fiscal sustainability of the fund

Trump's 50% tariffs forcing Indian banks to scrutinise exporters' loans

Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding

Karnataka witnesses 5-fold jump in GST tax evasion at ₹39,577 cr in FY25

Last month, numerous small traders and shopkeepers in Bengaluru, Karnataka, received disproportionately high GST notices primarily based on digital footprints

UPI's top checkout by volume in July: The grocery aisle dominates

NPCI uploads new data points on UPI from time to time. One of the reasons to do that is to provide an ecosystem-level overview to all ecosystem participants, including banks and fintechs

New I-T Bill with Parl panel's suggestions to be tabled on Monday: Rijiju

Rijiju's statement came in the wake of apprehensions voiced in a section of the media on the withdrawal of the Income Tax Bill from the Lok Sabha on Friday.

Tariff uncertainty may harm investment decisions: SBI chief CS Setty

But, the narrative around the uncertainty is more damaging and may cause delay in investment decisions and postponement of spending, he added

Banks roll over maturing VRRR amount; overnight WACR breaches repo rate

On Friday, the RBI conducted two VRRR auctions, one for six-day tenure and another for three-day tenure, to withdraw a total ₹3 trillion from the banking system

SBI Q1 results: Net profit rises 12.5% to ₹19,160 crore on treasury gains

SBI Q1 net rises to ₹19,160 crore aided by treasury gains; net interest margins may improve by March 2026 even as NII and CASA ratio face near-term pressure

Credit growth rose to 10% in July 25 fortnight, deposit growth at 10.2%

Retail credit moderation and rising bond yields impact bank lending growth, as credit rises 10 per cent and deposits grow 10.2 per cent in the fortnight ended 25 July

Amber may offload ILJIN stake, to invest ₹4,200 crore in PCB plants

Electronics maker Amber Enterprises is planning a ₹4,200 crore investment under ECMS, while exploring pre-IPO or private equity options for ILJIN Electronics

Life insurers' new business premium rises 22% to ₹38,958 cr in July

Driven by LIC's group single premiums and private sector's individual policies, life insurers posted 22.4% YoY NBP growth in July despite a dip in total policy count

RBI imposes ₹75 lakh penalty on ICICI Bank for compliance breaches

The Reserve Bank fined ICICI Bank for violations related to property valuation and current account operations, citing non-compliance without impacting customer transactions

Forex reserves decline $9.32 billion to $688.87 billion, shows RBI data

For the week ended August 1, foreign currency assets, a major component of the reserves, decreased by $7.319 billion to $581.607 billion, according to the data