Tour operators welcome govt move to defer hike in TCS on overseas packages Domestic tour operators on Thursday welcomed the government’s move to defer hike in tax collection at source on overseas tour packages till September 30 calling but reiterated that it should be brought down to 2.5 per cent. In a statement, Indian Association of Tour Operators ...

Will PPF interest rate increase for July-September quarter? [ad_1] Will the interest rate of the Public Provident Fund (PPF) increase in July-September quarter? Interest rates of small savings schemes are due for revision at the end of this month, i.e., June 30, 2023. The central government has not revised the interest rate of PPF since April 2020. It has remained ...

Advocacy by institutional shareholders surges 44% When it came to ESOPs, renumeration and board changes, shareholder meetings in financial year 2022-23 saw a surge in advocacy by institutional shareholders who made their voices heard by voting against several resolutions proposed by managements.  The number of resolutions where more than 20 per cent of institutional shareholders expressed their dissent ...

Sundaram Alternates launches Rs 1,500 cr realty private credit fund Sundaram Alternates, an arm of Chennai-based Sundaram Group, on Thursday launched its fourth high-yield credit fund with a corpus of Rs 1,500 crore. The new fund seeks to raise Rs 750 crore with a green shoe option worth Rs 750 crore, taking the aggregated target size to Rs ...

Credit offtake to outpace deposit growth in FY24 Personal loans have been the biggest drivers for India’s banking sector as corporate lending  has stalled due to rising non-performing assets and deleveraging in fiscal year 2023. Despite consecutive repo rate hikes, borrowings increased by 15 per cent year on year till March 2023,  the longest annual jump in credit offtake ...

Singapore’s Instarem sees huge inflow of diaspora remittances into India Singapore-headquartered Instarem sees huge inbound flow of remittances into India, citing the World Bank projection that money sent home by the Indian diaspora will reach USD 100 billion a year in the coming year or so, up from USD 82 billion received last year. India is a huge ...

Filing tax returns for the first time? Make sure you read these handy tips Filing income tax for the first time can be a daunting and confusing task. However, with a few handy tips, you can significantly reduce the stress and navigate the process more smoothly. By keeping track of the due date, calculating taxable income accurately, collecting necessary documents, ...

VC firm Omnivore announces first close of third fund at $150 million Venture capital firm Omnivore on Wednesday announced the first close of its third fund at $150 million, amid an increased investor focus on clean technology. The Omnivore Agritech and Climate Sustainability Fund, which was launched in April 2022, will focus on start-ups developing breakthrough technologies for agriculture, ...

Private equity investments in real estate sector down by 20% YoY in H23 The private equity (PE) investment in India’s real estate sector declined by 20 per cent Year on Year to $ 2.6 billion in January-June 2023 (H1) as PE investors turned conservative amid global concerns, according to Knight Frank India. Nearly 75 percent of investments came ...

Culture Ministry, Canara Bank sign MoU for financial assistance to artists A Memorandum of Understanding was signed between the Ministry of Culture and a PSU bank on Wednesday for the disbursal of financial assistance to veteran artists, officials said. The ministry administers a ‘Financial Assistance for Veteran Artists’ scheme under which financial assistance of Rs 6,000 per month ...