The Monetary Policy Committee (MPC) is responsible for determining the policy interest rate required to achieve the inflation target. It meets on bi-monthly basis and decisions are published after each such meeting.
Export of all varieties of onion except those cut, sliced or in powder form has been prohibited with immediate effect. A move aimed at increasing the availability and curbing prices of the commodity in the domestic market.
To increase customer safety in cheque payments and reduce fraud, the RBI has decided to introduce a mechanism of Positive Pay for all cheques of value ₹50,000 and above. Operational guidelines to follow.
Yes Bank had issued a demand notice to Reliance Infrastructure under the SARFAESI Act to recover its dues of Rs 2,892 cr. After the co. failed to repay the debt, it has issued the possession notice. What does SARFAESI Act say?
The RBI has highlighted that opting for zero MDR by the govt had a negative impact on the survival of payment gateway entities, innovation efforts, job losses and a slowdown in the digital payment infrastructure
The Supreme Court had asked telecom operators to pay a reasonable amount towards AGR dues to establish their bona fide before the next hearing. Vodafone has paid Rs 1,000 crore more yesterday. Next hearing on 20 Jul 2020.
The rapid rise of COVID-19 cases and the wide range of measures to slow the spread of the virus, has slowed economic activity precipitously. The World Bank projects the output to contract by 3.2% in FY 2020-21 for India.
SEBI has required open ended debt mutual funds to hold at least 10% of their corpus in liquid assets and has mandated them to conduct stress test. The rules for liquid holdings will be effective from 1 Feb 2021 and for stress testing from 1 Dec 2020.
Following the order of the Supreme Court, the Centre has announced the scheme to ‘grant ex-gratia payment of difference between compound and simple interest to borrowers of specified loan accounts’ from 1 Mar to 31 Aug.
Telcos get 10 years to clear AGR dues; should pay 10% by 31 Mar 2021. It has exempted Airtel and Reliance Jio from paying around 40,000 crores of past dues for using spectrum of telecom companies, that are now bankrupt.
Almost five months into the financial year, DIPAM is yet to open its account, although it is chasing a record disinvestment target of Rs 2.1 lakh crore, raising doubts over its ability to complete transactions.
The IPO of Mindspace Business Parks REIT received a robust response and was subscribed nearly 13 times. This is the second REIT to hit the IPO market after Embassy Office Park REIT. But what is a REIT ?
As per the 21st issue of fsr by RBI, Gross NPA ratio of all SCBs may increase from 8.5% in March 2020 to 12.5% by March 2021 under the baseline scenario, and to 14.7% under a very severely stressed scenario.
PVR fixes the rights issue price at Rs 784 per share, to allot 7 rights shares for every 94 held by eligible shareholders as on the record date i.e. 10 Jul. The co's 300 crore rights issue will open on 17 Jul and close on 31 Jul.
In certain cases, income of other person is included in the income of the taxpayer and in such a case he will be liable to pay tax in respect of his income as well as income of other person. Such situation is called clubbing of income.
The compulsory e-invoicing of B2B transactions of taxpayers with more than ₹500 crore sales to kick in from 1 October 2020. A further 30-day grace period has been given for those not yet ready for GST e-invoice.
Sellers having ₹10 crore revenue in the previous year need to collect income tax at source at the rate of 0.1% on receipt of sale consideration above ₹50 lakh. The tax is applicable to the amount above ₹50 lakh.
The Bill was tabled by Finance Minister Nirmala Sitharaman amends the Insolvency and Bankruptcy Code 2016 which provides a time-bound process for resolving insolvency in companies and among individuals.
The ₹702-crore initial public offering (IPO) of Happiest Minds Technologies Pvt. Ltd closed with overwhelming investor response and was subscribed 150.98 times, making it the 8th biggest IPO of the last decade.
Any amount sent abroad to buy foreign tour packages, and every other foreign remittance made above ₹7 lakh, will attract TCS beginning 1 October unless tax is already deducted at source (TDS) on that amount