Finance News

Share of loans bearing over 9% interest rate hits 56.1% in March: RBI The share of loans bearing over 9 per cent interest rate rose to 56.1 per cent in March 2023, in tandem with the monetary tightening measures starting May 2022, said a Reserve Bank report on Friday. The Reserve Bank started raising interest in May 2022 ...

MSS certificate can be operationalised at PSBs, select private banks: Govt The scheme has been in operational mode since April 1 (File) All public sector banks (PSBs) and private banks such as ICICI Bank, Axis Bank, HDFC Bank, and IDBI Bank will now be able to implement and operationalise Mahila Samman Savings (MSS) Certificate, the Ministry of Finance announced ...

Govt approves issuance of 27th tranche of electoral bonds, sale from July 3 The government on Friday approved the issuance of the 27th tranche of electoral bonds that will open for sale on July 3. The decision comes ahead of assembly elections of Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram. Poll dates are likely to be announced in ...

Govt raises interest rates on select small saving schemes by up to 0.3% The interest rate on one-year deposits and two-year deposits have been raised by 10 bps each, while rates on savings deposits will remain unchanged at 4% The government on Friday raised interest rates on select saving schemes by up to 0.3 per cent for the July-September ...

Check Fees, Status, and How to Do It Here The Central Board of Direct Taxes (CBDT) has fixed the last date to link the Aadhaar card and PAN card as June 30. The Centre had earlier fixed the last date to link the PAN and Aadhaar cards as March 31, 2023. This was, however, later postponed. While linking ...

Charts:182 of 200 firms in BSE 200 index see profit rise by 5% on year Non-banking financial Corporations, housing finance companies (HFCs) and public sector undertakings (PSUs) were the major issuers of corporate bonds in financial year 2022-2023, showed data analysed by Reserve Bank of India’s Financial Stability report.  NBFCs, in particular, have raised more funds through public issues ...

Filing your Income Tax returns? Know key changes in ITR for assessment year 2023-24 Changes to the ITR for AY 2023-24 In order to accommodate the amendments made to the Income Tax Act 1961,  a few changes have been made to the income tax return ( ITR) form to be filed for the Assessment Year 2023-24. 1.Virtual digital ...

World Bank approves $1.5 bn financing for India’s low carbon energy sector The World Bank said on Friday it has approved $1.5 billion in financing to accelerate the development of India’s low carbon energy sector. The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy ...

One in every 10 retail borrowers missing monthly payments: RBI report Even as the gross bad loans in India are at a decadal low of 3.9 per cent, nearly 10 per cent of retail borrowers are missing their monthly payments, the financial stability report (FSR) released by the Reserve Bank of India (RBI) recently showed. According to the ...

Homegrown bank giant bigger than Morgan Stanley to arise from India merger By Preeti Singh and Divya Patil A homegrown Indian company will for the first time rank among the world’s most valuable banks after completing a merger, marking a new challenger to the largest American and Chinese lenders occupying the coveted top spots.    The tieup ...