Non-banking lender SMFG India Credit eyes Rs 75,000 cr loan book by FY26 Mid-sized non-banking lender SMFG India Credit, formerly Fullerton India Credit, is looking at doubling the loan book over the next two-three years from the present Rs 36,000 crore. Japanese financial powerhouse SMFG bought a controlling 74.9 per cent stake in Fullerton in December 2021 for ...

Rupee ends higher on dollar inflows; Fed’s testimony to lawmakers in focus By Sethuraman N R BENGALURU (Reuters) – Indian rupee ended stronger on Wednesday, shrugging off weakness in Asian peers, aided by continuous dollar inflows into the domestic share market. The rupee closed at 82.0375 to the dollar against a close of 82.1175 on Tuesday. ...

Treasury-bill auction sees firm demand on hopes of improving liquidity Treasury bills saw firm demand at the auction on Wednesday, as market participants expected the liquidity position in the banking system to improve after the final Goods and Services Tax (GST) outflow, dealers said.  Wednesday was the last day of GST payment. Surplus liquidity in the system, as indicated ...

10 things taxpayers should keep in mind before filing income tax return The process for filing income tax return (ITR) for the assessment year 2023-24 has begun and the Income Tax (I-T) Department has opened its portal for individuals to submit their forms. The process of filing ITR for first-time filers can be a challenging experience. Below is the list ...

How to save and plan for it Indians are great at planning for the long-term  like retirement, education of children, marriage and old-age healthcare expenses, but what happens when there is a crisis like a sudden job loss or the onset of a pandemic?  Regardless of the circumstances,  only 25% of Indians have emergency funds for a rainy day, according ...

What they are & How to maximize card reward points without having to overspend A credit card is convenient and rewarding. You use them for big and mid-sized spends to get accelerated points, deals, discounts, and cashback. The more you spend the more reward points you will collect.But it is also important to not overspend in the pursuit of collecting ...

Adani Gas down 74% in 6 months, Serum Institute most valued unlisted firm The valuation of Adani Group’s eight companies have more than halved in the six months to April 2023 against just a 6 per cent decline in the top 500 non-government companies, according to the ‘Burgundy Private Hurun India 500-Special Report’, a list of the 500 most valuable ...

Credit card users may have to declare forex transactions to banks The tax department is considering a proposal under which credit card holders will have to file a declaration with the issuer entity within a stipulated time, specifying the nature of expenses incurred in foreign currency for the purpose of TCS levy, sources said.   The I-T department is ...

Govt proposes rates for third party motor insurance premium for FY24 The government on Tuesday proposed new base premium rates for third-party motor insurance for different categories of vehicles, including two-wheelers, passenger cars, and commercial vehicles, for 2023-24 fiscal year. According to a draft notification issued by the Ministry of Road Transport and Highways (MoRTH), the base premium rates for ...

Tweaking banks’ key regulatory need may ease interbank cash mkt volatility By Dharamraj Dhutia and Swati Bhat MUMBAI (Reuters) – A slight tweak to a key regulatory requirement for Indian banks could help reduce volatility in the overnight interbank borrowing rates, senior bank treasurers said on Tuesday. The weighted average interbank call money rate has been above ...