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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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 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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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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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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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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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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“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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Mutual funds are becoming the popular route for retail investors to participate in the capital markets with assets under management of the industry crossing ₹60 lakh crores. The Union Budget 2024-25 has changed capital gains taxes on financial assets. WHAT IS THE TAX REGIME FOR EQUITY-ORIENTED MF SCHEMES? As per income tax laws, any gain […]
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The wholesale price inflation surged to 16 months high in June as food and manufactured product prices shot up. Data released by the Commerce and Industry Ministry showed inflation, as measured by the wholesale price index, rose an annual rate of 3.4% in June from 2.6% in May. Food inflation hit double digits at 10.9% […]
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