Page 19 - Finance

Filing ITR? Don't forget to declare your income from other sources

Income from other sources includes earnings from freelance work, investments, rental properties, or any additional ventures.

Banks cautious over uncertainty around withdrawn Rs 2,000 notes

Lenders hesitate to deploy excess funds with the central bank due to uncertainty about the duration of recently withdrawn Rs 2,000 notes, affecting liquidity overall as loan demand remains strong

HDFC Bank allots over 311 cr shares to HDFC Ltd shareholders in share swap

HDFC Bank on Friday said it has allocated over 311 crore new shares of the bank to shareholders of merged entity HDFC Ltd. The share allocation was done as per the swap ratio announced as part of the composite scheme of amalgamation. As per the scheme, every HDFC shareholder has got 42 shares of HDFC Bank for every 25 shares they hold. "...accordingly, today HDFC Bank has allotted 3,11,03,96,492 new equity shares of Re 1 each of HDFC Bank in accordance with the share exchange ratio provided in the scheme, to/for such eligible shareholders of HDFC Limited who were holding shares as on the record date," the bank said in a regulatory filing. The said equity shares allotted would be listed on the stock exchanges and rank pari passu in all respects with the existing equity shares of HDFC Bank, it said. "Accordingly, the paid-up share capital of the bank will increase from Rs 559.17 crore consisting of 5,59,17,98,806 equity shares of Re 1 each to Rs 753.75 crore consisting of 7,53,75,69,

Missed Aadhar-PAN link deadline? Here are transactions you can still do

Even if your PAN card is no longer operative, there are certain financial transactions that can still be completed. These transactions, however, will result in a higher TDS and TCS

Barclays and Yes Bank raise India's inflation forecast as prices jump

Surging prices of vegetables and pulses pushed up inflation to a three-month high of 4.81% last month, ending four months of moderation

Rupee's plunging volatility leaves foreign investors guessing RBI's moves

The RBI has added back $32 billion in reserves already this year as it absorbed foreign inflows to keep the currency steady, while its dollar forward book also climbed by around $10 billion

Travel credit card launched by IDFC FIRST Bank, Club Vistara, & Mastercard

The card will offer Club Vistara points, lounge benefits, annual rewards, golf benefits, and cover for cancelled flight and hotel bookings

PE investments down 61% in India, here are the top ten deals of 2023

Private equity investments in India dropped 61% during the first half of 2023 compared to the same period in 2022, with sum of equity invested amounting to US$6.1 billion.

What are FPIs and mutual funds buying and how should you ride the bull run?

Market rally turning broad based in terms of number of stocks outperforming the benchmark index

Visa to Rupay: From October 1, you can port your credit, debit cards too

Currently, when you apply for a debit or credit card, you usually don't get to choose the network provider as it is decided by the card issuer.

Banks, consumer cos to brighten earnings in India amid IT uncertainties

India's banks have largely remained insulated from a global crisis in the industry with their heavy reliance on local markets

China slides to brink of deflation, adds urgency for economic stimulus

The consumer price index was unchanged last month from a year earlier - the weakest rate since prices fell in February 2021, according to data released by the National Bureau of Statistics on Monday

Punjab National Bank infuses Rs 72.83 crore in its Bhutan subsidiary

State-owned Punjab National Bank on Friday said it has infused Rs 72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue. The investment in Rights Issue has been made on July 7, 2023 through participation in the issue of Druk PNB Bank Ltd (DPNBL), PNB said in a regulatory filing. Following the rights issue, PNB retains 51 per cent in the subsidiary as of now. DPNBL was incorporated on December 31, 2008, with FDI participation, it said. The rights issue of DPNBL of Bhutan was at a premium of Rs 7 (face value of Rs 10) -- Rs 17 per share, the filing said.

RBI looking at coming out with fintech regulations: DG Rabi Sankar

The Reserve Bank is looking at coming out with a regulation for fintech players, Deputy Governor T Rabi Sankar said on Friday. "RBI is closely watching the evolving space of fintech...there are no fintech regulations right now. We are talking to the industry and understanding whether there is a need to regulate them," Sankar said, speaking at the Moneycontrol startup conclave. Sankar added that the regulations on fintech will come only after consultations with the industry, and declined to share timelines on the same, as per a statement issued by the event organisers. The RBI will time its regulations in such a way that the industry is allowed to grow, Sankar said, adding that the young innovators' focus is on innovations and not so much on regulations at present. Sankar also said that trading in cryptocurrencies carried out by people is not a concern for the RBI, but private cryptocurrencies themselves are a problem area. He also highlighted that "stable coins" pegged to other ..

A quarter of 69,000 suspected GST accounts fake, reveals CBIC drive

During the two-month drive, authorities used artificial intelligence (AI) and data analytics to identify around 69,000 suspects, of which 17,000 were fake accounts

Investing in a retirement home that gives elders care and company

The facility should be designed considering the needs of seniors and be secure for them

3/4 of all Indian households are debt-free, 69% save in banking instruments

The survey covered over 40,000 households, both rural and urban from 25 states.

RBI permits UBS-owned Credit Suisse to keep Indian banking license

Tom Wipf from Morgan Stanley, who will play a key role in the tie-up of the two banks and in facilitating the integration of Credit Suisse and UBS

Power Finance Corp provides Rs 9,187 cr finance to HPCL Rajasthan Refinery

State-owned Power Finance Corporation (PFC) on Thursday said it has provided Rs 9,187 crore finance to HPCL Rajasthan Refinery Ltd. This is the first project where PFC has extended its financial assistance to the refinery and petrochemical sector, a company statement said. PFC is extending its support in nation building not only through the power sector but also in the infrastructure segment, it stated. "PFC, a Maharatna company and India's leading NBFC in the power sector, has extended its financial assistance of Rs 9,187 crore to HPCL Rajasthan Refinery Ltd for its 9 MMTPA refinery-cum-petrochemical complex located at Barmer, Rajasthan," it said. HPCL Rajasthan Refinery Limited (HRRL) is setting up a green-field refinery-cum-petrochemical complex in Barmer district, Rajasthan, at a project cost of Rs 72,937 crore. On July 4, 2023 HRRL executed a loan agreement under a consortium arrangement for Rs 48,625 crore, wherein the share of PFC Ltd was Rs 9,187 crore. HRRL is a Joint Ve

Income tax return: Cleartax introduces platform for auto filing of ITR-2

The ITR-2 is required for individuals and Hindu undivided families (HUFs) not earning through their business or profession but from capital gains, foreign income or agriculture