FINANCE – Page 27 – msmenews.sbs

RBI makes a significant shift in its stance, strongly benefiting the banking sector after 2-year tightening period: Report

AIMPWAFebruary 28, 2025

After a period of strict regulations in 2023 and 2024, the Reserve Bank of India (RBI) has now shifted its stance, benefiting the banking sector in a significant way, according to a report by CLSA Research. The report highlighted several measures taken by the central bank, including liquidity infusion, a repo rate cut, and relaxation...

NICB employees had flagged irregularities in 2020

AIMPWAFebruary 28, 2025

The crisis at New India Co-operative Bank (NICB), whose board was superseded by the Reserve Bank of India earlier this month and all transactions suspended, has been brewing for several years, and in 2020 a group of former employees had flagged concerns over the functioning of the bank in a letter to the regulator. The...

Utkarsh Small Finance Bank board to meet on 26 February to consider issuance of shares

AIMPWAFebruary 28, 2025

The Utkarsh Small Finance Bank board will meet on February 26 to consider a proposal for issuance of equity shares. The board would convene an extraordinary general meeting/ postal ballot process to seek shareholder approval for the same. The Varanasi-headquartered bank first tapped the equity market in July 2023, when it raised ₹500 crore by...

DBS Group workforce shrinking 10%, plans to cut 4,000 jobs due to AI

AIMPWAFebruary 28, 2025

Singapore’s DBS Group sees its workforce shrinking by 4,000 or 10 per cent over the next three years, due to deployment of artificial intelligence, group CEO Piyush Gupta said at an industry event. In a fireside chat at an event organised by Nasscom, Gupta said that in 2016-17 the bank had identified 1,600 jobs that...

Delhi HC asks probe agencies to exercise caution over blanket freezing of bank accounts

AIMPWAFebruary 28, 2025

The Delhi High Court has asked probe agencies to exercise care and caution over blanket freezing of bank accounts. The matter before Justice Manoj Jain related to one such action of the agencies on the petitioner company’s account, having a withdrawal balance of more than ₹93 crore, but witnessing an innocuous entry of ₹200. “Such...

BoB announces launch of pilot CBDC-based ‘Loyalty/Cashback Programme’ for merchants

AIMPWAFebruary 27, 2025

Bank of Baroda (BoB) on Thursday announced the pilot launch of a ‘Loyalty/Cashback Programme’ functionality for merchants based on the ‘programmability’ aspect of the Central Bank Digital Currency (CBDC) in collaboration with a fintech company. This functionality will enable small and medium merchants to independently design and launch loyalty/cashback programmes for their customers, usually designed...

Large NBFCs expect lower cost of funds post rollback of higher risk weights

AIMPWAFebruary 27, 2025

Non-banking finance companies (NBFCs), especially large sized ones, are expecting a fall in their cost of funds (CoF) after the Reserve Bank of India’s (RBI) move this week to rollback 25 per cent higher risk weight assigned on bank loans to NBFCs in late 2023, bankers say. Raul Rebello, MD & CEO, Mahindra & Mahindra...

Non-bank brokers assess impact of SEBI, RBI nod for G-sec trading

AIMPWAFebruary 27, 2025

Non-bank brokers are assessing the costs and benefits of SEBI and the RBI’s move to grant them direct access to the Negotiated Dealing System-Order Matching (NDS-OM) platform for trading in government securities and have hailed the move as a game-changer for India’s debt market. G-secs, with their sovereign backing and high liquidity, have always been...

Ministry Of Coal To Host Mumbai Roadshow To Boost Investment In Coal Sector

AIMPWAFebruary 27, 2025

Mumbai, Feb 27 (KNN) The Ministry of Coal will conduct a roadshow in Mumbai on February 28, 2025, at The Taj Mahal Palace as part of its ongoing initiative to highlight investment opportunities in the coal sector and commercial coal mine auctions. Union Minister of Coal and Mines, Shri G Kishan Reddy, will attend as...

DPIIT-Paytm Partnership To Boost Innovation In Manufacturing and Fintech Startups

AIMPWAFebruary 27, 2025

New Delhi, Feb 27 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has entered into a strategic partnership with Paytm (One97 Communications Limited) through the signing of a Memorandum of Understanding (MoU) aimed at fostering innovation and accelerating growth in India’s manufacturing and fintech startup sectors. This collaboration will...

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Banks see cracks in the economy as consumers blink at inflation, tariffs

AIMPWAMarch 14, 2025

Banks are seeing lower credit-card spending, while delinquencies are rising. Source link

Budget lowers India’s average customs duty rate, sends positive signal to the US: CBIC chair

AIMPWAMarch 14, 2025

New Delhi: The customs duty rejig announced in the Union budget for FY26 lowers India’s average customs duty rate sharply from 11.65% to 10.66% and sends a positive signal to India’s trading partners like the US, Central Board of Indirect Taxes and Customs (CBIC) Chairperson Sanjay Kumar Agarwal said in a post-budget interview. The comments...

Muthoot Finance crosses ₹1 lakh crore in gold loan AUM

AIMPWAMarch 14, 2025

Continuing its leadership in the gold loan sector, Muthoot Finance has surpassed ₹1 lakh crore in gold loan AUM as of March 14, 2025. The achievement comes amid a strong demand for gold loans, as credit availability from other sources, including fintech lending, unsecured loans, and microfinance, has moderated in recent months, said a press...

Days of intrusive tax scrutiny are over, taxpayer facilitation is the new mantra: CBDT chairperson Ravi Agarwal

AIMPWAMarch 14, 2025

The days of intrusive tax scrutiny and compliance enforcement are over and tax administration will be based purely on trust and greater reliance on data mining, Central Board of Direct Taxes chairperson Ravi Agrawal said in a post-budget interview to Mint. Agarwal said that under the revamped new personal income tax regime, those with ₹24 lakh...

Budget 2025: Not all LED TV makers are thrilled about duty exemption on open cell parts

AIMPWAMarch 14, 2025

New Delhi: The exemption of import duties on components required for making open cells—a key part of LED televisions—has divided India’s nearly-$10-billion TV industry. A section of manufacturers sees the budget announcement as a big boost, but others say the relief will only benefit specific companies, not the entire sector. “The duty abolition will only...

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RBI makes a significant shift in its stance, strongly benefiting the banking sector after 2-year tightening period: Report

NICB employees had flagged irregularities in 2020

Utkarsh Small Finance Bank board to meet on 26 February to consider issuance of shares

DBS Group workforce shrinking 10%, plans to cut 4,000 jobs due to AI

Delhi HC asks probe agencies to exercise caution over blanket freezing of bank accounts

BoB announces launch of pilot CBDC-based ‘Loyalty/Cashback Programme’ for merchants

Large NBFCs expect lower cost of funds post rollback of higher risk weights

Non-bank brokers assess impact of SEBI, RBI nod for G-sec trading

Ministry Of Coal To Host Mumbai Roadshow To Boost Investment In Coal Sector

DPIIT-Paytm Partnership To Boost Innovation In Manufacturing and Fintech Startups

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Banks see cracks in the economy as consumers blink at inflation, tariffs

Budget lowers India’s average customs duty rate, sends positive signal to the US: CBIC chair

Muthoot Finance crosses ₹1 lakh crore in gold loan AUM

Days of intrusive tax scrutiny are over, taxpayer facilitation is the new mantra: CBDT chairperson Ravi Agarwal

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Banks see cracks in the economy as consumers blink at inflation, tariffs

Budget lowers India’s average customs duty rate, sends positive signal to the US: CBIC chair

Muthoot Finance crosses ₹1 lakh crore in gold loan AUM

Days of intrusive tax scrutiny are over, taxpayer facilitation is the new mantra: CBDT chairperson Ravi Agarwal

Budget 2025: Not all LED TV makers are thrilled about duty exemption on open cell parts

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Banks see cracks in the economy as consumers blink at inflation, tariffs

Budget lowers India’s average customs duty rate, sends positive signal to the US: CBIC chair

Muthoot Finance crosses ₹1 lakh crore in gold loan AUM

Days of intrusive tax scrutiny are over, taxpayer facilitation is the new mantra: CBDT chairperson Ravi Agarwal

Budget 2025: Not all LED TV makers are thrilled about duty exemption on open cell parts

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