Finance News

RBI announces draft cyber security norms for payment system operators In a move to ensure safety and security of digital payments amid emerging cyber risks, the Reserve Bank of India (RBI) on Friday announced draft regulations for payment system operators (PSOs). It proposed that such norms would be implemented from April 1, 2024, for large non-bank-PSOs. For medium-sized non-bank ...

BRICS pitches for using local currencies in international transactions The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, ...

Deposits shrink Rs 59,623 cr, credit down Rs 6k cr in May 19 fortnight Bank credit and deposits shrunk in the fortnight ended May 19, reflecting lower business volumes at the start of the new fiscal year. While deposits declined by Rs 59,623 crore to Rs 183.74 trillion at the end of the fortnight, credit shrunk by Rs 6,181 crore ...

Common mistakes you should avoid while filing your ITR The last date to file your income tax return (ITR) for FY 2022-23 (AY 2023-24) is getting near on July 31, 2023. While most individual taxpayers file their tax returns on their own, understanding the complex laws of income tax can prove to be a deterrent in filing the return.  Depending ...

Link your PAN and Aadhaar by June 30: Here's all you need to know PAN is essential when it comes to filling tax returns and making investments in mutual funds and stocks, here how to ensure your cards are linked

Goldman Sachs bets on RBI pausing repo rate again on June 8 meeting Forecasting a steeper fall in inflation to the tune of 50 bps lower than previously projected, a Wall Street brokerage sees the central bank leaving the policy rates unchanged at 6.5 per cent in the forthcoming review on June 8. Analysts at Goldman Sachs India ...

Mirae Asset Tax Saver Fund Fund Pick: Aditya Birla Sun Life Short Term Fund a consistent outperformer Fund pick: SBI Focused Equity Fund Fund pick: Nippon India Tax Saver Fund Fund pick: DSP Midcap Fund Fund pick: Axis Long Term Equity Fund Digital transactions in India highest in world but why is cash still king? Irdai issues Bima Vahaks draft ...

Digital transactions in India highest in world but why is cash still king? India’s Unified Payments Interface (UPI)-led retail digital payments grew at a compounded annual growth rate (CAGR) of 50 per cent in the last five years, with digital transactions surpassing all major developed economies, including the US, the UK, and Europe, said the Reserve Bank of India in ...

I-T dept to keep open SFT returns filing portal for FY’23 for ‘couple days’ Banks, foreign exchange dealers and other reporting entities have ‘couple of days more’ to report high-value transactions done by their clients in 2022-23 by filing SFT returns, the I-T department has said. The last date for filing statement of financial transactions (SFT) for 2022-23 ...

UPI transactions at record high of Rs 14.3 trn in May, spike in 10 days UPI continues to dominate digital payments thanks to wide use of QR codes ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000 ICICI Bank to offer EMI facility for UPI transactions above Rs 10,000 Is it the end of WhatsApp’s UPI ambition? ...