Page 93 - Finance News
MSME bodies raise critical financing issues before parliamentary committee
"The industry highlighted issues impacting industry access to finance before the Parliamentary Standing Committee on Finance in a session," said a source
 "MSME bodies raise critical financing issues before parliamentary committee")
Federal Bank to buy additional 4% stake in Ageas Federal Life Insurance
With this, the stake of Federal Bank in Ageas Federal will rise to 30 per cent, from 26 per cent
 "Federal Bank to buy additional 4% stake in Ageas Federal Life Insurance")
Interest rates on small savings schemes unchanged for April-June quarter
As per the notification, deposits under the Sukanya Samriddhi scheme will attract an interest rate of 8.2 per cent, while the rate on a three-year term deposit remains at 7.1%
 "Interest rates on small savings schemes unchanged for April-June quarter")
RBI allows banks to raise ATM charges to Rs 23 per withdrawal from May 1
The RBI further said the instructions shall also apply, mutatis mutandis, to transactions done at cash recycler machines (other than for cash deposit transactions)
 "RBI allows banks to raise ATM charges to Rs 23 per withdrawal from May 1")
SBI's C S Setty elected as chairman of Indian Banks' Association
The managing committee of the industry lobby grouping elected Setty, the SBI chairman, to lead the body till the next annual general meeting, as per an official statement
 "SBI's C S Setty elected as chairman of Indian Banks' Association")
Indian Rupee logs best month in over 6 years; Ends FY25 down 2.5%
The currency has appreciated by 2.39 per cent in March -- the best month since November 2018 -- tracking the fall in the dollar index
 "Indian Rupee logs best month in over 6 years; Ends FY25 down 2.5%")
India pushes homegrown network to rival Visa, Mastercard in payments
Launched in 2016, the Unified Payment Interface (UPI) accounted for 83% of India's digital payments volume in 2024, up from 34% in 2019, and dominates the domestic retail payments sector
 "India pushes homegrown network to rival Visa, Mastercard in payments")
RBI mandates banks to conduct special clearing operations on March 31
Income tax offices as well as CGST offices across the country will remain open on March 29 to March 31 despite the weekend and Eid-al-Fitr, which may fall on Monday
 "RBI mandates banks to conduct special clearing operations on March 31")
Indian Rupee opens stronger at 85.71/$; Set for 2.5% drop in FY25
The domestic currency opened 7 paise stronger at 85.71 against the greenback after closing at 85.79 on Thursday
 "Indian Rupee opens stronger at 85.71/$; Set for 2.5% drop in FY25")
RBI to meet bankers next week to discuss liquidity management framework
It met economists on Thursday for pre-policy consultation; economists divided over change in stance
 "RBI to meet bankers next week to discuss liquidity management framework")
5% GST for restaurants with non-specified premises: Finance Ministry
Option of 5% GST without ITC or 18% with ITC to be applicable on restaurant services provided at non-specified premises, clarifies FinMin
 "5% GST for restaurants with non-specified premises: Finance Ministry")
Resolution plan binding even if stakeholder not party to NCLT case: SC
Tax authorities issue apology for being in contempt of SC judgment
 "Resolution plan binding even if stakeholder not party to NCLT case: SC")
Banking system net liquidity improves on back of RBI's swap auction
The net liquidity in the banking system was in a deficit of Rs 1.57 trillion on Tuesday, Reserve Bank of India (RBI) data showed
 "Banking system net liquidity improves on back of RBI's swap auction")
Parl panel flags non-contribution by pvt sector employers in employees' PF
The observation was recorded by the Department-related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice in its 146th report, tabled in Parliament on Thursday
 "Parl panel flags non-contribution by pvt sector employers in employees' PF")
Indian Rupee ends weaker at 85.79/$ as dollar gains on Trump's auto tariffs
The domestic currency ended 7 paise weaker at 85.79 against the greenback after closing at 85.71 on Wednesday
 "Indian Rupee ends weaker at 85.79/$ as dollar gains on Trump's auto tariffs")
RBI to cut rates again on April 9, one more expected in August: Poll
With inflation in India easing to a seven-month low of 3.61 per cent in February and the economy forecast to grow at 6.4 per cent this fiscal year
 "RBI to cut rates again on April 9, one more expected in August: Poll")
I-T dept offices to stay open March 29-31 for year-end tax filings: CBDT
The Income tax department offices across the country will remain open despite the weekend and Eid-al-Fitr which may fall on Monday
 "I-T dept offices to stay open March 29-31 for year-end tax filings: CBDT")
RBI to raise foreign individual investment cap in listed firms to 10%
Foreign portfolio investors (FPIs), pressured by poor earnings, high valuations and prospects of US tariffs, have pulled more than $28 billion out of Indian stocks
 "RBI to raise foreign individual investment cap in listed firms to 10%")
RBI to meet bankers next week to discuss changes in liquidity framework
Reserve Bank of India is scheduled to meet bank economists on April 3 to take feedback on proposed revisions
RBI Guv Sanjay Malhotra raises rate cut hopes with growth-focused policy
Since taking office in December, Sanjay Malhotra has reduced interest rates for the first time in five years, injected nearly $60 billion into the banking system
 "RBI Guv Sanjay Malhotra raises rate cut hopes with growth-focused policy")