Finance News

I-T Dept sends 8,000 notices to taxpayers who claimed exemption for charity The Income-Tax Department has sent 8,000 notices to various individuals who made large donations to charitable trusts, The Economic Times (ET) reported. The notices have been sent because the donations made appear to be attempts to evade tax. Government officials aware of the development were quoted in the ...

Rupee rises 1 paisa to 82 against US dollar in Tuesday’s early trade The rupee appreciated 1 paisa to 82 against the US dollar in early trade on Tuesday, tracking a weak dollar and positive trend in domestic equities. Forex traders said the upward trend in crude prices and outflow of foreign funds from equities market restricted the ...

HDFC Bank set to meet reserve ratio requirements post merger: Report By Bhakti Tambe and Siddhi Nayak MUMBAI (Reuters) – HDFC Bank Ltd, India’s biggest private lender, is comfortably placed to meet reserve ratio requirements post its merger with parent HDFC Ltd, even as it awaits a final view from the central bank on requests for forbearance, three ...

Bank of India board approves up to Rs 6,500 crore fundraising plan How can you protect your bank account from cyber attacks? ICICI Bank adopting a 360-degree approach in corporate banking business What’s behind the optimism in India’s banking sector? Revenue growth of IT firms in FY24 to be 7-9% lower than FY23: CRISIL Canara Bank wins ‘Banker’s Bank of ...

ICICI Lombard General Insurance profit rises 40% as premiums climb ICICI Lombard Q2 net up 32% to Rs 591 cr on reversal of tax provision ICICI Lombard’s net profit rises 11% in Q3 on strong premium income LIC may turn into composite insurer; likely to merge 4 PSU general firms 2023 may see an M&A surge in insurance sector: Shriram ...

Public sector Indian Bank signs MoU with Tamil Nadu e-Governance agency Public sector Indian Bank has signed a memorandum of understanding with the Tamil Nadu e-Governance Agency, the city-headquartered bank said on Tuesday. The agreement is to integrate the Indian Bank Payment Aggregator platform with the e-Governance Applications of various departments in Tamil Nadu. “With this MoU, ...

Bank of India looking to raise Rs 4,500 cr via equity issue in Q1FY24 What are AT1 bonds, and why are Credit Suisse’s worth $17 bn now wiped out? Banks tier II bond issuance surges 3.5 times in FY23, shows data SBI board approves Rs 10,000-cr AT1 bonds offering to support biz growth After Credit Suisse wipeout, AT1 bonds make ...

After insurance firms, now private banks under income tax scanner I-T Dept sends 8,000 notices to taxpayers who claimed exemption for charity New tax norm to hurt insurers; stocks attractive for the long run: Analysts Irdai approves amendments, simplifies rules to set up insurance firms Top Bollywood celebrities under CBIC scanner over alleged GST evasion CBIC detects Rs 62K-crore GST ...

RBI grants AU Small Finance Bank permission to deal with foreign exchange AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of ...

Karur Vysya Bank hands over EVs, RO plant to TTD under ESG initiative Private sector bank Karur Vysya Bank has handed over five electric vehicles and three reverse osmosis water plants worth Rs 70.73 lakh to Sri Venkateswara Institute of Medical Sciences, Tirupati, the Tamil Nadu based bank said on Wednesday. The Bank’s chairperson Meena Hemchandra, managing director ...