Page 99 - Finance News
Govt extends tenure of RBI Deputy Governor T Rabi Sankar by one year
This is the second one-year extension granted to him
 "Govt extends tenure of RBI Deputy Governor T Rabi Sankar by one year")
RBI's new liquidity norm to free up $35 bn, likely boosting credit growth
India's banking system, which has an estimated HQLA of almost ₹45 trillion to ₹50 trillion, could have an additional ₹2.7 trillion to ₹3 trillion in lendable resources
 "RBI's new liquidity norm to free up $35 bn, likely boosting credit growth")
Rupee opens flat at 85.13/$ after five-day rally; Dollar weakness persists
The dollar index - a measure of the value of the US dollar relative to a basket of foreign currencies - was down 0.19 per cent to 98.08, the lowest since April 2022
 "Rupee opens flat at 85.13/$ after five-day rally; Dollar weakness persists")
No question of fiscal deficit going out of control: FM Nirmala Sitharaman
Sitharaman's comment comes at a time when forecasting agencies have pared down their FY26 growth estimates for India amid growing global uncertainty
 "No question of fiscal deficit going out of control: FM Nirmala Sitharaman")
RBI allows minors above 10 years to open bank accounts independently
Minors of any age can open and operate savings and term deposit accounts through their natural or legal guardian
 "RBI allows minors above 10 years to open bank accounts independently")
RBI mandates 2.5% additional run-off factor on digital retail deposits
Effective April 1, 2026, the final norms could help free up lendable resources by almost ₹3 trillion estimates ICRA
 "RBI mandates 2.5% additional run-off factor on digital retail deposits")
Rupee gains for 5th straight day, ends at 85.14 against US dollar
The dollar index falls 1.13% to 98.10, the lowest since April 2022; bond yields slump to multiyear low
 "Rupee gains for 5th straight day, ends at 85.14 against US dollar")
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 permits minors above 10 yrs to operate bank accounts independently")
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
 "Rupee logs five-day winning streak; Ends 24 paise stronger at 85.14/$")
Officers find 25K fake firms fraudulently passing ₹61,545 cr ITC in FY25
During the 2024-25 fiscal ending March 2025, Central and state GST officers recovered Rs 1,924 crore by way of blocking ITC and arrested 168 persons
 "Officers find 25K fake firms fraudulently passing ₹61,545 cr ITC in FY25")
Indian Rupee extend gains to day five; Opens 27 paise stronger at 85.11/$
The US dollar has been facing sustained pressure, with the Dollar Index down over 9 per cent year-to-date
 "Indian Rupee extend gains to day five; Opens 27 paise stronger at 85.11/$")
RBI's draft gold loan norms: Compliance cost may rise for lenders
Banks, NBFCs need to adopt standardised documentation across all branches
 "RBI's draft gold loan norms: Compliance cost may rise for lenders")
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
 "And the wait continues: Fintech funding revival still out of reach")
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
 "Ensure liquidity measures transmitted to broader market: RBI Guv to banks")
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
 "CBIC issues new rules to simplify GST registration, curb official overreach")
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
 "No GST on UPI transactions above ₹2,000, clarifies Finance Ministry")
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
 "Forex reserves rise for sixth straight week, up $1.56 bn to $677.83 bn")
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
 "EPFO set for digital overhaul with new IT platform by May-June: Mandaviya")
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
 "Centre appoints four senior IRS officers as members of CBDT board")