Finance News

GST Council may vet CBIC’s plan for additional validations in return filing The GST Council in its meeting next month is likely to consider CBIC’s proposal to introduce additional validations in the GST return filing system to check evasion and fake input tax credit (ITC) claims, a senior official said. In a special drive since November 2020, central ...

Reports of missing Rs 500 notes based on erroneous information, says RBI India was close to printing Rs 10,000 notes in 2016: All you need to know Provide adequate infra at branches for Rs 2,000 note exchange: RBI to banks 50% of Rs 2,000 notes returned to banks since announcement: RBI Guv Das Explained: What are the tax implications of ...

Barings PE, ChrysCapital acquire 90% stake in HDFC Credila for Rs 9,060 cr Private Equity players Barings and ChrysCapital and associates will acquire 90 per cent stake in education loan company HDFC Credila Financial Services Ltd (HDFC Credila), from mortgage major HDFC for over Rs 9,060 crore. Housing Development Finance Corporation (HDFC) in a stock exchange notification said the ...

Cash transactions dramatically spike at petrol pumps, online orders: Report One of the major benefits of the Centre’s decision to withdraw the Rs 2,000 currency note might be the immediate uptick in consumption demand, according to the State Bank of Indias Economic Research Department. “As per our estimate consumption demand may be frontloaded by Rs 55,000 crore. With ...

Karur Vysya Bank in expansion mode; sets up 800th branch in Chennai Private sector Karur Vysya Bank on Monday under its expansion drive inaugurated its 800th branch in the city, a top official said. The Tamil Nadu-based lender also inaugurated its digital banking unit on the occasion. “We are delighted to inaugurate our 800th branch and other ...

Corporate sector begins to contribute to growth of GFCF: ICICI Securities The corporate sector has begun contributing to the growth of gross fixed capital formation (GFCF) in FY23, said ICICI Securities Ltd in a report. Post-pandemic economic recovery was largely driven by growth in GFCF. It grew 25.6 per cent year-on-year (YoY) during FY22 to reach Rs 67.9 ...

Sun Life Asia Service Centres rebrands itself as Sun Life Global Solutions Sun Life Asia Service Centres (ASC), a global capability centre (GCC) for the Canadian insurance and asset management major, Sun Life, has repositioned itself as Sun Life Global Solutions (SLGS). The rebranding aims to reflect SLGS’s contribution in supporting Sun Life’s various business groups achieve their goals. ...

SIP accounts closures rise 7.4% to to 1.42 mn month-on-month in May The number of systematic investment plan (SIP) accounts being discontinued rose 7.4 per cent month-on-month to 14.19 lakh in May, despite the stellar inflow into mutual funds through the route. At the same time, the number of new SIP registration rose to 24.7 lakh last month ...

Rupee dips tracking Asia FX, eyes US Fed chief testimony this week By Sethuraman N R BENGALURU (Reuters) – MUMBAI, June 19 (Reuters) – The Indian rupee ended little changed against the dollar on Monday, shrugging off weak regional cues as traders sought further clarity on the outlook for interest rates in the U.S.   The ...

Withdrawal of Rs 2000 notes is win for real estate, gold, consumer durables The withdrawal of Rs 2000 notes has seen throngs of customers flocking to malls, jewellery stores, petrol pumps, while real estate experts have seen a spurt in land deals and secondary market apartment sales.   On 19 May 2023, RBI decided to withdraw the Rs 2000 denomination banknotes ...