Finance News

EPFO extends deadline to apply for higher pension for members till July 11 Retirement fund body EPFO has extended the deadline for filing applications to opt for a higher pension till July 11. This is the second extension of the deadline for applying for a higher pension. Earlier, it was extended from May 3, 2023, to June 26, ...

RBI finalises norms for banks to hold capital for operational risks The Reserve Bank of India (RBI) has finalised directions for commercial banks to hold sufficient regulatory capital against their exposures arising from operational risks. It would cover the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events. RBI, ...

RBI slaps penalties on Standard Chartered Bank-India, other entities The Reserve Bank of India on Monday said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms. A monetary penalty of Rs 30 lakh has been imposed on Standard Chartered Bank-India for non-compliance with certain provisions ...

Tax implications of income earned from shares, mutual funds Union Budget 2023 changed the way mutual funds are taxed in India.  Investors should be aware of the revised regulations to effectively plan their investments and understand the tax liabilities associated with them. One of the notable changes pertains to the long-term capital gains on Specified Mutual Funds. Previously, investors enjoyed ...

Documents needed for ITR 1, eligibility, changes Is income tax returning filing stressing you out? Business Standard helps you decode everything about ITR-1.  ITR-1, also known as Sahaj Form, is for a person with an income of up to Rs 50 lakh. What is ITR-1  “ITR-1, also known as Sahaj, is an income tax return form in India ...

‘RBI need not rush to ease rates unless certain of stable-low inflation’ By Anup Roy India’s central bank need not rush to ease rates unless sure of a stable low-inflation regime, said a rate-setter at India’s monetary policy panel.   It is important for the Reserve Bank of India to achieve the inflation target of 4% in ...

Govt to launch a portal , dividends by February 2024 Unclaimed shares, dividends, and matured debentures are transferred to the IEPFA after a duration of seven years In line with its announcement in the Union Budget 2023-24, the government is set to launch an integrated portal for investors by February 2024, The Economic Times (ET) has reported. A top ...

RBI’s pivot to rate cuts to begin only in early 2024: Rating agency S&P Global rating agency Standard and Poor’s (S&P) today said the policy rate cuts in India are expected to begin only in early 2024 as the Reserve Bank of India (RBI) would like to see consumer inflation (CPI) moving to four per cent. “Softer crude ...

Rupee trades almost flat at 81.95 against US dollar in early trade The rupee traded almost flat at 81.95 against the US currency in the opening trade on Monday amid gains in local stocks and losses in the dollar against major rivals in global markets. The domestic currency opened lower by 4 paise at 82.00 against the dollar ...

Credit Card Dues Surge 30% in April, Crossing Rs 2 Trillion Mark for the First Time Credit card dues have grown by 30 per cent in the last year, which is double the pace of growth of overall bank loans, The Times of India (ToI) has reported. This has resulted in a situation where the credit card due payments ...