Govt, RBI actively working on CBDC to enable cross border payment: FM RBI has already rolled out a pilot in the retail version of CBDC or the e-rupee on December 1, 2022. The e-rupee is in the form of a digital token that represents legal tender

Commercial bank credit up 16.02% till January 12, shows RBI data Sequentially, it grew by 0.09 per cent over the previous fortnight ended December 29, 2023. The outstanding credit stood at Rs 154.04 trillion as of January 12, 2024, according to RBI data

Fund review: ICICI Pru Bluechip fund Fund review: ICICI Pru Bluechip fund

Income tax laws need to recognize more cities as metros for HRA tax exemption: Will Budget 2024 include these? [ad_1] Tax sops, enhanced benefits, rebates – the list of expectations from the Budget is never ending. The fact that this year we’ll first have the vote-on-account does not change anything for the taxpayer. They are hoping for announcements that will ...

Bank credit expansion projected at 15% in FY24, 12% in FY25: ICRA Rating agency Icra on Wednesday revised upward its bank credit growth projection at 14.9-15.3 per cent this fiscal, but said the same will lose steam and grow at 12 per cent next fiscal. At 14.9-15.3 per cent, the system level credit expansion in absolute terms will be Rs ...

Budget 2024 should hike savings account interest deduction to Rs 50,000 from Rs 10,000 [ad_1] The upcoming interim Union Budget on February 1, 2024, would be a vote-on-account before the 2024 general elections. While the finance minister may not make any major announcements, a few measures to provide interim relief to taxpayers, can be expected.One of the most common financial ...

Income tax relief: Medical cost doubles in 5 years, will Budget 2024 increase Section 80D limit for health insurance? [ad_1] Budget 2024: Section 80D of the Income-tax Act, 1961 allows you to claim tax deductions for paying premiums for health insurance policies and select health-related expenses. You can claim a tax deduction of up to Rs 25,000 if you are ...

L&T Finance Q3 results: Net profit jumps 41% to Rs 640 crore, NII up 8% L&T Finance Holdings on Tuesday reported a 41 per cent jump in net profit to Rs 640 crore for the December quarter, driven by retail loan sales. The Mumbai-based Non-Banking Financial Company (NBFC) had earned a net profit of Rs 454 crore in the year-ago ...

RBI 'mute spectator', allowing banks to charge high interest rates: HC The Allahabad High Court has observed that the Reserve Bank of India has been a “mute spectator” while banks are imposing arbitrarily high interest rates on customers despite guidelines issued by the banking regulator. The observation was made by a bench comprising Justices Mahesh Chandra Tripathi and Prashant Kumar ...

Benchmark 10-yr bond yields steady at 7.1% as traders await fresh cues India’s benchmark 10-year yield ended at 7.1751%, following its previous close at 7.1790%. India’s bond markets were shut on Monday and will be closed on Friday