Liquidity surplus crosses Rs 1.75 trillion-mark on higher govt spending Liquidity surplus in the banking system zoomed past Rs 1.75 trillion on the last day of May on the back of higher government spending, latest data released by Reserve Bank of India showed. On Wednesday, the surplus liquidity in the banking system was around Rs 1.76 trillion, while it ...

CREDAI urges to remove GST on free flats given in redevelopment projects Realtors’ body CREDAI has demanded the government should do away with the GST on flats which are given free of cost to existing occupants in redevelopment projects to make them economically viable, especially in the Mumbai region. A delegation from CREDAI and CREDAI-MCHI has met Union ...

Odisha posts 11% YoY growth in collection of GST in May to Rs 4,397 cr Odisha registered over 11 per cent growth in collection of gross GST in May to Rs 4,397.73 crore, an official said on Thursday. The state had mopped up Rs 3,955.75 crore in the year-ago month. Odisha also posted a 30.28 per cent ...

Irdai issues Bima Vahaks draft to establish channel at Gram Panchayat level Regulator Irdai on Thursday came out with draft guidelines for ‘Bima Vahaks (BV)’, which seeks to establish a dedicated distribution channel at the level of Gram Panchayats. The guidelines propose Corporate Bima Vahaks and Individual Bima Vahaks for the distribution channel. Corporate Bima Vahak would ...

Rupee appreciates by 33 paise to close at 82.42 against US dollar The rupee appreciated by 33 paise to close at 82.42 (provisional) against the US dollar on Thursday, as positive macroeconomic data strengthened investor sentiments. At the interbank foreign exchange market, the local unit opened at 82.54 against the US dollar and settled at 82.42 (provisional), up ...

Reserve Bank to conduct 14-day VRRR auction worth Rs 2 trillion today RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement MPC lowers projection for inflation, raises growth outlook a bit in FY24 RBI Monetary Policy: Repo rate up by 25 ...

Citi India, ISDM launch CIFSI to enhance research on innovative financing Citi India and Indian School of Development Management (ISDM) on Thursday announced the launch of the Centre for Innovative Finance and Social Impact (CIFSI) to enhance research on innovative financing. The centre in the national capital will help in raising dialogue among public and private stakeholders to ...

Himachal collected Rs 1,004 cr tax in this fiscal till May 31: Official The Department of State Taxes in Himachal Pradesh has collected Rs 1,004 crore in this fiscal till May 31 against Rs 890 crore collected during this period in the last fiscal, registering a growth of 13 per cent in the first two months of 2023, Commissioner ...

Rising risk appetite may affect some Banks’ credit profiles: Fitch India’s green bonds show policy focus on climate mitigation: Fitch Ratings What is credit score? Why is it important? US AAA credit rating may be downgraded by Fitch on debt-limit impasse Indian banks’ NIM to contract in FY24 as deposit costs rises: Fitch Marginal pressure on banks next fiscal, net ...

GST collection rises 12% to Rs 1.57 trillion in May: Finance ministry GST collection in May rose 12 per cent to Rs 1.57 trillion, the finance ministry said on Wednesday.   The gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is Rs 1,57,090 crore of which Central GST is Rs 28,411 crore, State GST ...