Finance News

Axis Bank launches Sarathi platform for easy PoS onboarding of merchants Axis Bank on Thursday launched ‘Sarathi,’ a first-of-its-kind digital onboarding journey for merchants to adopt Electronic Data Capture (EDC) or Point of Sale (PoS). Unlike the time-consuming traditional onboarding process, which can take several days, Sarathi offers merchants a streamlined and hassle-free experience, the company said in a ...

Now, I-T relief for leave encashment on retirement at 2.5 million Leave encashment limit for non-govt employees hiked to Rs 25 lakh: CBDT I-T Dept sends 8,000 notices to taxpayers who claimed exemption for charity Air India makes another voluntary retirement offer for non-flying staff Income tax exemption might be extended to Rs 5 lakh in budget, say sources Give ...

SBI penalised for sending bills to man despite credit card’s expiry A Delhi consumer forum has directed the SBI Cards & Payments Services Pvt. Ltd. to pay Rs 2 lakh to a person here for sending him bill even after his card’s expiry and blacklisting him for non-payment of the charges. The New Delhi District Consumer Disputes Redressal ...

Irdai to create state insurance plan mirroring SLBCs: Debasish Panda The Insurance Regulatory and Development Authority of India (Irdai) is trying to create a state insurance plan in which district potential targets will be aggregated to create plans similar to the State Level Bankers’ Committee (SLBC), Irdai Chairman Debasish Panda said on Thursday. “Depending upon the potential and the ...

CBIC extends April GST return filing deadline for Manipur biz till May 31 The CBIC has extended the deadline till May 31 for Manipur-based businesses to file monthly GST returns, as the north eastern state continues to witness violence due to ethnic clashes. The Central Board of Indirect Taxes and Customs (CBIC) has issued three Central Tax notifications ...

Leave encashment limit for non-govt employees hiked to Rs 25 lakh: CBDT The CBDT circular dated May 24 stated that the increased leave encashment limit will be applicable from April 1, 2023

A snapshot of term insurance plans with 2 riders offered by various firms 2023 may see an M&A surge in insurance sector: Shriram General Insurance MD Structure of insurance laws to be altered with proposed amendments: Experts LIC may turn into composite insurer; likely to merge 4 PSU general firms Composite insurance licence regime may trigger M&A activity: HDFC Life ...

Restore transaction fee on RuPay cards: Banks request finance ministry PAN-Aadhaar link status: Are your cards already linked? Learn how to check Your credit card payments overseas will attract a 20% TCS from July 1 UPI continues to dominate digital payments thanks to wide use of QR codes Google Pay allows UPI payments using RuPay credit cards; check details here ...

Centre’s FY23 dividend income from PSBs 58% higher than in FY22: Report The Centre will receive Rs 13,804 crore as aggregate dividend income for 2022-23 (FY23) from the public sector banks (PSBs), nearly 58 per cent higher than Rs 8,718 crore received in FY22, a report by BusinessLine (BL) said on Thursday. This can be attributed to healthy profits and ...

Debit card-based ATM withdrawals up 235% since demonetisation: Report The monthly ATM cash withdrawals using debit cards have jumped over 235 per cent since the Centre announced the demonetisation exercise in November 2016, a new report revealed on Wednesday. As compared to Rs 84,934 crore withdrawn in December 2016, Rs 2.85 trillion were withdrawn in March 2023. The withdrawals ...