Finance News

Nearly 80% Indians depositing Rs 2,000 notes instead of exchanging: Report Provide adequate infra at branches for Rs 2,000 note exchange: RBI to banks India was close to printing Rs 10,000 notes in 2016: All you need to know Explained: What are the tax implications of depositing Rs 2,000 notes? RBI asks banks to keep daily data on exchange, deposit ...

NBFC loan sanctions up 2% YoY to Rs 4.46 trn in quarter ending March Pulled down by a demand deceleration from urban and semi-urban customers and a contraction in personal and home loans, non-bankers loan book grew just about 2 per cent in Q4 FY23 to Rs 4,46,132 crore from Rs 4,38,345 crore a year ago when it soared ...

Tepid response to RBI’s two-day VRRR auction; banks park Rs 1,850 crore WPL auction: Smriti Mandhana goes to Royal Challengers for Rs 3.4 cr IPL Mini Auction 2023: Five players who will rake in the moolah in Kochi IPL Auction 2023: Slots to fill, purse remaining of each team before D-Day MPC lowers projection for inflation, raises growth outlook a ...

Credit sanctions to pick up traction as base effect fades, say NBFCs NBFCs’ share in India’s lending pie fell to 5-year low of 19.8% in H1FY23 Your credit card payments overseas will attract a 20% TCS from July 1 Alive and kicking: What common thread links the new-age NBFCs? TVS Credit Services Q4 profit rises 76% at Rs 111 cr ...

How 50% of all transactions will be digital in 3 years Indian households are likely to make at least 50 percent non-cash transactions in the next three years  as penetration of smartphones and the internet, as well as favorable government policies have become key drivers in the adoption of  of digital payments in the country, says a report by Redseer ...

RBI Monetary Policy set to be announced tomorrow: What to expect? The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is all set to announce its monetary policy decision tomorrow. This will be the third time in 2023 that the MPC will announce its monetary policy decision. Between May 2022 and February this year, the ...

How and When to claim a refund ? Tax collected at source (TCS) is the tax collected by the seller from the buyer on sale so that it can be deposited with the tax authorities. Section 206C of the Income-tax act governs the goods on which the seller has to collect tax from the buyers. Such persons must have the ...

Bond issuances by banks to fall below Rs 90,000 cr in FY24: Report Bond issuances by banks may fall below Rs 90,000 crore in FY24 due to easing liquidity conditions, rating agency ICRA has said in a report. Banks issued a record Rs 1.1 trillion bonds in FY23. “…combined issuances by banks and AIFIs touched a high of Rs. ...

RBI’s efforts to drain liquidity signal its intent to quash inflation RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is what experts have to say about the policy announcement MPC lowers projection for inflation, raises growth outlook a bit in FY24 RBI Monetary Policy: Repo rate up by 25 bps, ...

Safe Deposit Locker : All your queries on opening a bank locker answered The Reserve Bank of India (RBI) has extended the deadline for banks to complete the process of renewal of agreements for existing safe deposit lockers in a phased manner by December 31, 2023, with intermediate milestones of 50 per cent by June 30, 2023, and 75 per ...