Finance News

I-T dept enables filing of income tax returns 1, 4 at e-filing portal The Income Tax department has enabled online filing of income tax returns (ITRs) 1 and 4, filed by individuals, professionals and small businesses, for 2022-23 fiscal. In a tweet, the income tax department said, the software/utilities for preparing other ITRs/ Forms will be enabled shortly. ...

Cash share in POS transaction value to fall 50% to $6 trn globally by 2026 Riding on digital payments, the point-of-sale (POS) transaction value share conducted in cash is expected to fall from $11.6 trillion in 2021 to $6.0 trillion globally by 2026, a decline of nearly 50 per cent, a report showed on Tuesday. Some governments are ...

Google Pay allows UPI payments using RuPay credit cards; check details here Google Pay in conjunction with the National Payments Corporation of India (NPCI) on Tuesday launched the facility for users to make United Payments Interface (UPI) payments with RuPay credit cards. With this, users will now be able to link their RuPay credit cards with Google Pay to pay ...

Start exchanging Rs 2,000 notes from today; how to do it and other details Provide adequate infra at branches for Rs 2,000 note exchange: RBI to banks RBI asks banks to keep daily data on exchange, deposit of Rs 2,000 notes RBI hikes repo rate by 35 bps to 6.25%, cuts FY23 GDP forecast to 6.8% RBI MPC: Here is ...

How important was the note for the Indian economy? The Reserve Bank of India (RBI) on May 19 announced the decision to withdraw Rs 2,000 banknotes from circulation in the Indian economy. Launched after Prime Minister Narendra Modi announced the demonetisation exercise on November 8, 2006, this is currently the largest note of all denominations in India. RBI has ...

Flows into NRIs deposits in India top $8-billion mark in 2022-23 A further analysis indicated FCNR (B) deposits were $19.34 billion this March, up from $18.4 billion in February The bank accounts of non-resident Indians (NRIs) held in the country received $ 7.99 billion during April 2022-March 2023 (FY23), more than twice the $3.23 billion in FY22. The outstanding ...

Indians sent $27.14 bn abroad under LRS in FY23, up nearly 40% YoY Indians remitted about $27.14 billion in the financial year ended March 2023 under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS), latest data released by the central bank showed. Reflecting buoyancy in travel, spending on relatives, the outward remittances saw a substantial jump for ...

Don’t panic, it’s nothing like November 2016 The exchange of Rs 2,000 notes will begin on May 23. Experts say people should not compare this event with demonetisation and panic unnecessarily.   “The number of Rs 2,000 notes in circulation, as mentioned in the Reserve Bank of India (RBI) notification, is much lower than the Rs 500 and Rs 1,000 ...

Paytm Money Launches Bond Investing on Platform for Retail Investors Banks tier II bond issuance surges 3.5 times in FY23, shows data Here’s why Macquarie has double upgraded Paytm’s stock to ‘Outperform’ Paytm shares rise 4% ahead of Q4FY23 results; here’s what brokerages expect Paytm has lost over Rs 1 trillion in market cap since its issue Risk-reward favourable for ...

RBI Governor addresses PSU banks’ board members of on governance, ethics Reserve Bank Governor Shaktikanta Das on Monday met the board of directors of all public sector banks to discuss issues related to governance and ethics. The one-day interactive meeting was organised by the Department of Supervision of the Reserve Bank of India. Das addressed the directors ...