Page 88 - Finance News

RBI permits minors above 10 yrs to operate bank accounts independently

The Reserve Bank of India has issued revised instructions on opening and operation in the deposit accounts of minors

RBI directs banks to increase run-off rates for digital deposits

The net impact of these measures will improve banks' liquidity coverage ratio as on December-end by around 6 percentage points, the Reserve Bank of India said in a release

Rupee logs five-day winning streak; Ends 24 paise stronger at 85.14/$

The domestic currency ended 24 paise stronger at 85.14 against the greenback, after closing at 85.38 on Thursday

Officers find 25K fake firms fraudulently passing ₹61,545 cr ITC in FY25

During the 2024-25 fiscal ending March 2025, Central and state GST officers recovered Rs 1,924 crore by way of blocking ITC and arrested 168 persons

Indian Rupee extend gains to day five; Opens 27 paise stronger at 85.11/$

The US dollar has been facing sustained pressure, with the Dollar Index down over 9 per cent year-to-date

RBI's draft gold loan norms: Compliance cost may rise for lenders

Banks, NBFCs need to adopt standardised documentation across all branches

And the wait continues: Fintech funding revival still out of reach

Sectoral regulators have signalled that they expect fintechs to focus strongly on governance, risk, compliance, and conduct aspects

Ensure liquidity measures transmitted to broader market: RBI Guv to banks

RBI Governor also called banks and primary dealers for their active roles to improve liquidity and pricing for participants like cooperative banks, pension and provident funds with smaller deal sizes

CBIC issues new rules to simplify GST registration, curb official overreach

The revised guidelines aim to curb discretionary demands for extraneous documents, a frequent complaint among taxpayers who have reported harassment and inconsistency in the registration process

No GST on UPI transactions above ₹2,000, clarifies Finance Ministry

A ministry release said that since currently no MDR is charged on UPI transactions, there is consequently no GST applicable to these transactions

Forex reserves rise for sixth straight week, up $1.56 bn to $677.83 bn

The forex reserves touched an all-time high of $704.885 billion in September 2024

EPFO set for digital overhaul with new IT platform by May-June: Mandaviya

In coming days, EPFO beneficiaries will be able to withdraw funds from ATMs due to faster processing of claims on the newer Version 3.0

Centre appoints four senior IRS officers as members of CBDT board

The appointments fill the vacant positions in the CBDT, which is the apex body responsible for administering direct tax laws in India

RBI's 43-day VRR auction sees tepid demand, gets bids worth ₹25,431 cr

Additionally, the central bank also purchased ₹40,000 crore worth of government securities via the Open Market Operations (OMO) auction

FinMin sets Rs 17.31 trillion MSME lending target for PSBs in FY26

MSME lending target for PSBs raised 19.5%

Borrowers may gain from lower rates under RBI draft co-lending norms: ICRA

RBI has proposed that the blended rate of interest is to be calculated as an average rate of interest derived from the interest rates charged by respective funding regulated entities

Indian Rupee gains 30 paise; Ends at 85.38/$ on FII inflows, weak dollar

The domestic currency ended 30 paise stronger at 85.38 against the greenback, after closing at 85.68 on Wednesday

Rupee opens at 85.49/$; Gains for fourth day on weak dollar, FII inflows

The domestic currency opened 19 paise stronger at 85.49 against the greenback, after closing at 85.68 on Wednesday

UPI outages: NPCI, banks working on durable solution to plug gaps

The current challenge stems from the extremely high frequency of transaction status API calls

Rupee gains for third consecutive session as dollar continues to weaken

The Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar buys, which capped the rupee's gain against the greenback, said dealers