Page 69 - Finance News

CBDT acts against non-filers with foreign income, assets worth ₹29,000 cr

Suitable action under the extant provision of law is under consideration for non-responsive taxpayers, the finance ministry said in a statement

Make GST registration easier using tech, risk-based parameters: FM to CBIC

During the conclave, she directed the zones to prepare an action plan to improve various parameters, such as GST registration, processing of refunds, and handling taxpayers' grievances

Retail inflation for farm, rural workers eases to below 3% in May

The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) decreased by 2 points and 1 point in May 2025 to stand at 1305 and 1319 points, respectively

'Front-loaded' repo rate cut meant to spur demand, show MPC meeting minutes

The Reserve Bank of India's rate-setting panel delivered a 50 basis points interest rate cut earlier this month and announced liquidity measures for the banking system

Sivasubramanian Ramann takes charge as PFRDA chairperson for five years

Former SIDBI chairman brings decades of experience in finance and regulation as he assumes charge of pension regulator PFRDA for a five-year term or until age 65

Rupee rises after three-day slide on likely FII inflows; ends at 86.59/$

Indian Rupee today: The domestic currency rose 14 paise to end at 86.59 against the dollar, according to Bloomberg

Private sector firms continue to maintain high interest cover ratio

The ICR - defined as the ratio of profit before interest and taxes to interest payments - stood at 6.78 in FY25, up from 3.77 in FY20

Rupee snaps three-day losing streak; opens 9 paise higher at 86.64/$

Indian Rupee today: The domestic currency rose 9 paise to open at 86.64 against the dollar, according to Bloomberg data

RBI relief for project finance, only 1% provision in construction phase

Banks welcome RBI's final project finance guidelines that lower provisioning to 1 per cent during construction and exempt existing projects from higher requirements

India reaches 15th spot in top FDI destinations in 2024: UNCTAD report

India moved up to 15th in global FDI rankings as flows stayed at $28 billion in 2023 despite a global drop and led Asia in capital expenditures for new projects

Reserve Bank of India eases provisioning rules for infrastructure loans

The Reserve Bank of India proposed in May last year that lenders should set aside 5% of the loan value for an infrastructure project being built to cover risks

Rupee extends slump to 3-month low on Iran-Israel tensions; ends at 86.74/$

Indian Rupee today: The domestic currency depreciated 27 paise to close at 86.74 against the dollar, the lowest level since March 17 this year

RBI's new rule on gold-backed loan will lead to biz model adjustment: S&P

Earlier this month, the RBI raised the loan-to-value (LTV) ratio for lending against gold to 85 per cent for borrowings under ₹2.5 lakh from the present 75 per cent

Rupee weakens for third day on Iran-Israel conflict; opens lower at 86.53/$

Indian Rupee today: The domestic currency depreciated 6 paise to open at 86.53 against the dollar, the lowest level since April 9 this year

Nirmala Sitharaman ask fintechs to find solutions to prevent cyberfrauds

Lauding the success of fintechs, the Finance Minister said they have helped in speeding up financial inclusion, and taking the payment system to even the far-flung areas of the country

Sitharaman says India's finance future is 'phygital', driven by UPI

At the Digital Payments Awards, Sitharaman lauds UPI's global success, urges fintech to tackle cybersecurity and deepfakes, and credits RBI's enabling regulation

ESAF Bank to sell ₹735 cr in NPAs, write-offs amid MFI sector stress

ESAF Small Finance Bank approves sale of ₹735 crore in stressed loans to ARCs, with over 90% provisioned; microfinance delinquencies continue to weigh on sector

Banks' supervisory data quality index improved in March 2025, says RBI

RBI reports sDQI for scheduled commercial banks improved to 89.3 in March 2025; small finance banks scored above 90, reflecting higher data accuracy and compliance

China pitches digital yuan to challenge dollar-led global currency system

To curb overreliance on a single currency, China is pushing for a multi-polar currency system with the digital renminbi at its centre

Rupee remains under pressure amid West Asia jitters; ends lower at 86.47/$

Indian Rupee today: The domestic currency depreciated 23 paise to end at 86.47 against the dollar, according to Bloomberg