The next generation GST reforms would 'absolutely' set an economy open and transparent with further reduction in compliance burden and benefiting small businesses, Union Finance Minister Nirmala Sitharaman said on Tuesday.
The Reserve Bank of India (RBI) will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India's lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday.
'With a very stable technology with limited functionalities, a large network has spanned out.'
The legislation sets clear expectations for National Sports Federations and the Indian Olympic Association, ensuring mechanisms for fair elections, financial openness, and inclusive representation.
FIFA on Saturday launched its first talent academy for youngsters in India in collaboration with the All India Football Federation (AIFF), aiming to provide advanced training to talented footballers in the country.
Bandhan Financial Services, which was given a banking licence on Wednesday, hopes to come up with a unique business model, with a mix of doorstep and retail banking.
Paytm will focus on its core business of payments and cross-selling financial services as it works to achieve "profitability soon", said Vijay Shekhar Sharma, founder and chief executive officer of the fintech, on Thursday. "The past six months have taught us many lessons, giving us the opportunity to thoroughly examine our business processes, compliance, and the way we operate from the inside out.
In his address, Singh said there should be "no double standards" in combating terrorism and urged the SCO member nations to condemn the menace with unity.
'The people who were protesting and getting violent were all in the age group of 14-25.'
The Reserve Bank of India on Friday permitted banks to increase charges on ATM cash withdrawals beyond the mandatory free monthly usage by Rs 2 to Rs 23 per transaction from May 1.
If the threat from the 'Maovadis' (Maoists) is fading, the danger now lies with the 'MoUvadis' -- those who might exploit the resource-rich Abujhmad region through corporate or State-backed projects.
Understand policy inclusions and exclusions to avoid surprises during claims.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
Outgoing Reserve Bank Governor Shaktikanta Das said on Tuesday that restoring inflation-growth balance is the most important task ahead of the central bank. Addressing a press conference on his last day as the central bank chief, Das said his successor will have to navigate the changing world order, effectively deal with cyber threats, and focus on harnessing new technologies.
UPI topped Rs 24 trillion in value of transactions and 19 billion in volume for the first time after becoming operational in April 2016.
The life and non-life insurance industries are hopeful of a reduction in the goods and services tax (GST) on health and life insurance premiums, after Prime Minister Narendra Modi, in his speech on Friday, announced GST relaxations aimed at providing relief to ordinary citizens, farmers, the middle class, and the small and medium enterprises (MSME) sector.
Amazon will invest more than Rs 2,000 crore (about $233 million) in India in 2025 as it strengthens its logistics and safety standards, said the ecommerce company on Thursday.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
'All commercial and banking transactions happen in South Mumbai.'
India's economy is expected to grow 6.4-6.7 per cent during the current financial year driven by strong domestic demand, even as geopolitical uncertainty poses downside risks, the newly appointed CII president Rajiv Memani said on Thursday.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Equity mutual funds witnessed a remarkable surge in inflows to nearly Rs 4 lakh crore in 2024, more than double the amount recorded in the preceding year, reflecting strong investor confidence and a continued shift towards long-term investing, particularly through Systematic Investment Plans (SIPs).
Amazon Pay UPI has crossed 100 million customers, with the online platform used mainly for e-commerce transactions, utility bill payments and mobile recharges, the company announced on Monday.
The Indian government has announced new rules for non-governmental organizations (NGOs) receiving foreign contributions under the Foreign Contribution (Regulation) Act (FCRA). These rules include requiring NGOs to obtain a "Not a Newspaper" certificate from the Registrar of Newspapers for India if they engage in publication-related activities, as well as submitting financial statements and audit reports for the past three years. Additionally, NGOs must submit a commitment letter from the donor, a project report detailing proposed expenses, and a declaration that administrative expenses will not exceed 20% of the foreign contribution.
Kant, a retired 1980-batch Indian Administrative Service (IAS) officer of Kerala cadre, was appointed as India's G20 Sherpa in July 2022, months before India assumed the G20 Presidency.
Former Australia captain Ian Chappell has criticized the ICC, calling it an "event management company" and stating that financially stronger boards are dictating a self-serving schedule that harms Test cricket.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
The overall physical presence of life insurance companies in Tier-II and Tier-III cities increased in FY23 compared to a year ago period on account of the higher impetus given to financial inclusion by the government and insurance regulator, as well as recovery from the Covid-19 pandemic, according to the latest data released by the Insurance Regulatory and Development Authority of India (Irdai). It is the first time that there has been growth in the number of offices since the financial year 2019-20.
The Union Finance Ministry on Tuesday said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust. At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.
Billionaire industrialist Mukesh Ambani described his 2016 return to the telecom industry with Reliance Jio as the "biggest risk" of his life, saying that even if analysts' predictions of financial failure had come true, it would still have been worth it for the role it played in transforming India digitally.
Indian non-profit 'Educate Girls' wins the Ramon Magsaysay Award for its work in educating out-of-school girls in remote villages. The award recognizes selfless service to the peoples of Asia.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
The task force will look at emerging markets, technology, regulatory and monetary policies, loss of trust in financial services, and financial inclusion.
Tamil Nadu has been been churning out top-tier chess for decades at an unrivaled rate. Out of the 85 Grand Masters in India, 31 are from the southern state.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
IndusInd Bank, Suzlon, and Paytm will remain under focus, as the stocks are pegged to get added to the MSCI global standard index. These stocks, along with six others, are seen attracting cumulative inflows of nearly $2 billion from passive funds tracking MSCI indices. Persistent Systems, APL Apollo, Polycab, Macrotech Developers, Tata Motors DVR, and Tata Communication are the other six stocks that will be added to the MSCI index, shows an analysis done by Nuvama Alternative & Quantitative Research.
The average value of retail digital payments dropped 48 per cent from Rs 8,769 in March 2021 to Rs 4,560 in March 2024 due to a growing preference to use digital modes of transactions for small value payments, according to the Reserve Bank of India's (RBI) report on the trend and progress of banking in India.
'Don't play the American game... India is too big for a US game.'
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
