“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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Jaya Vaidhyanathan, CEO, BCT Digital. Budget 2024 has introduced nine main priorities to boost the economy, including notable rewards for taxpayers who have opted for the new regime. From a banking and fintech perspective, it has tabled several positives: The emphasis on Digital Public Infrastructure for applications, including credit, is welcome. It will help formalize […]
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The most visible impact of this order will be seen in the Government buying of IT and other technology products. In an effort to further push the Make in India initiatives, the Government has tightened public procurement norms by excluding imported inputs, while calculating the local content in its purchase orders. In the latest revision […]
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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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India’s exports grew for the third straight month, rising 2.6% to $35.2 billion, while imports increased 5% $56.2 billion. As a result, trade deficit rose to $21 billion, compared with $19.2 billion a year ago. The engineering goods, whose exports rose over 10% to $9.4 billion in June and electronics (16.9% to $2.8 billion), were […]
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SME Chamber of India argues that provision serves as incentive for companies to adhere to payment timelines, thereby supporting MSMEs’ financial health. The Chamber has urged Finance Minister, Smt. Nirmala Sitharaman to continue the 45-days MSME payment rule for corporates and other buyers. According to Section 43B(h) of the Income Tax Act, introduced through the […]
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The sector has been struggling for financial support and deriving the advantages of facilities offered by financial institutions. As a part of their pre-budget meeting with Reserve Bank of India (RBI) mandarins, MSMES sought the central bank to amend its NPA classification policy. The Union Budget will be presented by the Finance Minister, Nirmala Sitharaman […]
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MSME Sahaj will help MSMEs to avail credit against their Goods and Services Tax (GST) registered sales invoices of up to Rs.1 lakh in less than 15 minutes. Public sector lender State Bank of India (SBI) on Monday announced MSME Sahaj, an online business loan solution for MSMEs to avail credit against their Goods and […]
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In a bid to find a long-term fix to unrelenting geo-political concerns, Indian engineering and capital goods firms are looking to ditch foreign suppliers and plan to collaborate with Indian entities instead. Executives from these companies termed it an attempt to secure supply chains and cut down the transit time. If it works, one need […]
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