Finance News

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 ...

Deposit claims worth Rs 752 cr settled in FY23: Financial Stability Report Deposit Insurance and Credit Guarantee Corporation (DICGC) settled claims of Rs 751.8 crore during FY23. In FY22, the corporation had settled aggregate claims of Rs 8,516.6 crore under different channels. Of this, the largest, of Rs 3,791.6 crore, was to Unity Small Finance Bank (USFB) for ...

Avg health insurance claims in India Rs 42,000; 15% cross Rs 1 lakh: Report The average cost of health insurance claims in India is Rs 42,000, with 15 per cent of these claims exceeding Rs 1 lakh, a report said.  This highlights the need for policyholders and insurance providers to consider potential high-cost scenarios, such as hospitalizations exceeding ...

Retail loans grow 2x gross advances from FY21-23, says RBI report With banks focusing more on retail loans these past few years, such loans have grown at a faster pace than the overall loan growth between March 2021 and March 2023, observed the Reserve Bank of India’s latest edition of the Financial Stability Report released on Wednesday. Retail ...

Three key changes to keep in mind while filing your return| FY 2022-23 The Income Tax Return (ITR) filing season is approaching and many taxpayers are preparing to file their returns for the financial year ending 2022-23 (FY23). There have been a few changes made to the ITR forms this year (compared to last year) that taxpayers should be ...

GNPAs fall to decadal best of 3.9% in March; set to improve further: RBI The Indian banking system’s asset quality strengthened to a decadal best, with the gross non-performing assets ratio falling to 3.9 per cent as of March 2023, the Reserve Bank said on Wednesday. GNPAs of the scheduled commercial banks are expected to improve further to ...

RTP Global closes $1bn fund, will make third of investments in India RTP Global, an early-stage venture capital firm, announced on Wednesday the close of its latest fund that has a corpus of $1 billion and will make a third of its investments in India. RTP IV is part of the company’s strategy of investing globally in founders ...