In a major decision, the RBI on Friday announced that UPI payment limit to hospitals and educational institutions will be raised to Rs 5 lakh from Rs 1 lakh at present and hiked the cap for e-mandates for recurring payments to Rs 1 lakh. Unveiling the December bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said the limit for various categories of Unified Payments Interface (UPI) transactions has been reviewed from time to time. "It is now proposed to enhance the UPI transaction limit for payment to hospitals and educational institutions from Rs 1 lakh to Rs 5 lakh per transaction," he said.
The revamped Special Economic Zone (SEZ) law is unlikely to see the light of the day before the upcoming Lok Sabha elections, two people aware of the matter said. The commerce department had sought the Union Cabinet's nod to bring amendments to the existing SEZ Act, 2005 late last year. The plan, thereafter, was to introduce the Bill in the winter session of Parliament. Cabinet's approval remains pending.
On the exports front, Bajaj is under pressure in Bangladesh and Africa. On the domestic front, it could ride improvement in rural demand and new launches but it also has to cope with competitive intensity and a high base. The management projects 7-8 per cent volume growth in domestic 2W in financial year 2025 (FY25) with moderation in H2FY25 due to a high base Y-o-Y.
'Whether I am optimistic or pessimistic is not the issue; I am just going by the evidence available.' 'The Indian economy and financial sector are now well-placed and very resilient in dealing with any kind of spillover coming from the external world.'
The government is likely to introduce a bill on crypto currencies during the winter session of Parliament beginning November 29, amid concerns over such currencies being allegedly used for luring investors with misleading claims and for funding terror activities, sources said on Monday. Currently, there are no particular regulations or any ban on use of crypto currencies in the country. Against this backdrop, Prime Minister Narendra Modi, on Saturday, held a meeting on the crypto currencies with senior officials and indications are that strong regulatory steps could be taken to deal with the issue.
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
Delhi Chief Minister Arvind Kejriwal announced on Sunday that he would resign after two days and sought early polls in the national capital while vowing not to sit in the chief minister's chair till people give him a 'certificate of honesty'.
The Tamil Nadu assembly on Tuesday once again adopted the anti-NEET Bill, returned days ago to the government by Governor RN Ravi, with the ruling Dravida Munentra Kazhagam and principal opposition All India Anna DK reaffirming their opposition to the test.
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
The IT-BT minister claimed that the then BJP government did not merely charge a '40 per cent commission', as his party had claimed during the assembly election, but had collected a commission of more than 400 per cent.
'We are very quickly going to announce the timeline of our launches, which should start giving us the turnaround'
The government had on Wednesday faced major embarrassment in the Rajya Sabha as five amendments moved by the Congress and the CPI-M to the Finance Bill were adopted and approved by the House.
Many who track the ministry and the technology sector closely believe that the space won't see much impact on the policymaking side, but the gestation time for regulations might get long, as now there could be a wider consensus-building exercise on policy matters under a coalition government.
The Delhi high court on Wednesday asked the Centre and the Delhi government to present their stand on a plea seeking recall of all currency notes above Rs 100, restricting cash transactions above Rs 10,000 and linking assets worth more than Rs 50,000 with Aadhaar to check corruption.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
Ayyub is the account holder and deposits totalling Rs 1,77,27,704 have been attached by the ED.
Opinions vary, but fund managers remain bullish.
While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
'If Rakesh Sinha introduces the bill, but it does not pass the Rajya Sabha in six years, then the bill will lapse.'
Leading bourses BSE and NSE and money markets will remain closed on Thursday on account of Eid al-Adha also known as Bakrid. Earlier, the holiday was scheduled for June 28. The markets are now open on Wednesday. The change came after the Maharashtra government declared June 29 a public holiday as the festival of Bakrid falls on this day instead of June 28 declared earlier.
'File all the supporting documents in response to the allegation since there is a possibility of the proceedings getting dropped at that stage if the reply is satisfactory.'
Fintech major PhonePe on Wednesday announced the launch of its homegrown Indus Appstore specifically for the Indian market, in a bid to compete with global incumbents like Google Play Store and Apple's App Store. The Indus Appstore is PhonePe's attempt at creating a more competitive and localised mobile app store economy for India, which is already the world's largest market for mobile apps.
Money saved is money earned, and cutting down your expenses could well be the single-most important step towards an organised financial life. Naval Goel shows you how to keep your finances organised.
Information and Broadcasting Minister Prakash Javadekar said the Bill will be introduced in Parliament during the current Winter Session.
Finance Minister Arun Jaitley accused Congress of setting a wrong precedence for future opposition parties by continuously disrupting Parliament.
MMFs are a good option for the current environment, observes Sarbajeet K Sen.
India's current account deficit (CAD) may dip further in the March quarter of FY24 as pressure from the negative net exports during the January-March period eased to an 11-quarter high. A part of the gross domestic product (GDP) data, net export- which is usually negative for India - captures the difference between exports and imports of both goods and services, while the CAD data, released by the Reserve Bank of India (RBI), also factors in private transfer receipts.
We asked you, dear readers to share your best tips on saving money. Navin K Singh shared these tips.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
Another report by Oxfam had found that eight billionaires, including Bill Gates, from around the globe have as much money as the 3.6 billion people who make up the poorest half of the world's population.
Government will provide a short window of a "few months" to income tax assesses to come clean by declaring their money and assets stashed abroad.
Currently, there is no regulation or any ban on the use of cryptocurrencies in the country.
The proposed ban on cash transactions above Rs 3 lakh may hit luxury goods, jewellery sales and real estate.
Streedhan refers to gifts, money or property that a woman receives before her marriage, at the time of her marriage, during childbirth or widowhood, primarily from her parents, relatives or in-laws.
Customers of Vodafone, Idea Cellular, Tata Teleservices and BSNL in some circles have reported maximum discrepancies in their phone bills, according to a latest report by telecom regulator TRAI.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
We asked you, dear readers to share your best tips on saving money. This is what our reader Manish Nandgaonkar, 42, from Pune had to say.
Statements of five 'Angadiya' firm operators have also been recorded by the ED to establish the "money trail" of this alleged Rs 45 crore bribe amount.
