Congress demands Sitharaman’s resignation over extortion

Congress on Sunday attacked the BJP after a case was lodged against Finance Minister, Nirmala Sitharaman and others on a complaint relating to the now-scrapped electoral bonds scheme and demanded her resignation for “undermining democracy”. The opposition party reiterated its demand for a Supreme-court monitored inquiry through an SIT into the whole electoral bond scheme. […]

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Centre finalizes Companies Act changes to boost capital access for bankrupt firms, tighten audit rules: Report

In addition to the Companies Act amendments, the Ministry of Corporate Affairs is also working on changes to the Insolvency and Bankruptcy Code (IBC). The proposed amendments will further clarify the priority of repayments owed by distressed companies to statutory agencies. The Government has likely finalized amendments to the Companies Act, aiming to ease capital […]

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CGTMSE loan: Govt targets Rs. 5 lakh crores credit guarantees in 2 years

Under CGTMSE, the guarantee cover available for micro enterprises is up to 85% for loans up to Rs 5 lakhs, while for loans between Rs 5 lakhs and Rs 5 crores, the cover is up to Rs 75%. Rajneesh also noted the 5-crore Udyam registration milestone achieved last week as part of the Ministry’s drive […]

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India’s FY24 GCC Count at 1.7k with $65 b. in Revenue

The number of Global Capability Centres (GCCs) set up in India, increased to around 1,700 in fiscal 2024, generating $64.6 billion in export revenue and employing over 1.9 million people, a new report has said, with the country expanding its dominance in this space even as GCCs emerge as critical nerve centres for multinational companies. […]

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Moody’s ups India’s 2024 GDP growth forecast to 7.2% on strong growth News

Moody’s Ratings boosted India’s GDP growth forecast to 7.2% for 2024 and 6.6% for 2025, highlighting solid growth and moderating inflation as key factors. The update also notes improvements in corporate balance sheets, rural demand and digital infrastructure investments, signalling a robust economic outlook for the country. The ratings agency noted that growth could exceed […]

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Shaktikanta Das is our A+ Governor and he reigns supreme internationally for many reasons

Reserve Bank of India Governor, Shaktikanta Das received an ‘A+’ rating from Global Finance magazine, ranking the top central banker globally for the second year. The recognition acknowledges his adept handling of economic crises, including the Covid-19 pandemic and the war in Ukraine. Das was also instrumental in shaping the GST framework and key economic […]

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RBI’s New Rule on how to Recover Money sent to Wrong UPI Address

According to the RBI’s new guidelines, if you transfer money to the wrong UPI address, you can expect to get your money back within 24 to 48 hours. Here are 5 Ways to Recover Money Sent to the Wrong UPI Address: With the Unified Payments Interface (UPI), users can easily transfer money digitally. However, issues […]

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Net direct tax collection rises 22.5% to Rs 6.93 trillion till August 11

India’s net direct tax collection, with refunds adjusted, grew 22.5% to Rs 6.93 trillion between April 1 and August 11 of FY25. In the same period last year, tax collection was at Rs 5.65 trillion, according to the Income-Tax (I-T) Department’s latest data released on Monday. Of the tax mop-up, personal income-tax (PIT) outpaced corporation tax. […]

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Fiscal deficit shrinks to 8.1% in April-June quarter

Thanks to lower expenditure and record transfer from RBI. Lower expenditure because of Model Code of Conduct and record transfer from the Reserve Bank of India helped restricting fiscal deficit to low of around 8% of the Budget Estimate during April-June quarter of Fiscal Year 2024-25, data released by the Controller General of Accounts (CGA) showed. The […]

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RBI’s new norms on wilful defaulters to come into effect from Nov 1

“Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facilities,” the RBI said The Reserve Bank of India has asked lenders to examine wilful defaulters in all Non-Performing Assets (NPA) accounts with an outstanding amount of Rs 25 lakh and above and said the […]

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