Finance - general

Centre appoints former NITI Aayog V-C Dr Arvind Panagariya as head of 16th Finance Commission

01 Jan 2024

Government of India on Sunday announced the constitution of the Sixteenth Finance Commission, with Arvind Panagariya, former vice chairman, NITI Aayog, and Columbia University professor, as its chairman.

India’s forex reserves grow $58 bn year-to-date to $620.4 bn

31 Dec 2023

India's foreign exchange reserves increased by $57.63 billion year-to-date, taking overall forex reserves with the Reserve Bank of India (RBI) to $620.44 billion

Net financial assets of non-residents in India up $7.4 bn in Q2 FY24

31 Dec 2023

Net financial assets of non-residents in India increased by $7.4 billion to $380.9 billion in the second quarter of the current financial year (July-September 2023-24)

Govt hikes small savings interest rates

31 Dec 2023

The central government on Saturday notified revised interest rates on small savings schemes, including a 20 basis point hike in the interest rates

India's current account deficit sharply down at 1% of GDP in Q2

27 Dec 2023

India's current account deficit declined sharply to $8.3 billion, or 1 per cent of the country’s GDP, in the second quarter of the current financial year (July-September 2023-24)

Centre releases Rs72,961.21 cr more as tax devolution to states

22 Dec 2023

The central government has authorised the release of an additional installment of Rs72,961.21 crore to states as part of its devolution of tax.

Net direct tax collections up 20.66% at Rs13,70,388 crore

19 Dec 2023

Net direct tax collections so far during the financial year 2023-24 (as of 17 December 2023) stood at Rs13,70,388 crore

UPI transactions grow at a CAGR of 168% in 5 years to Rs139 lakh crore

19 Dec 2023

The value of financial transactions using the Unified Payments Interface (UPI) has grown from Rs1 lakh crore to Rs139 lakh crore in the last five years

Proposed changes in China spark concerns among venture capital and private equity funds

13 Dec 2023

In a move that has stirred controversy within China’s financial circles, the country’s securities regulators recently unveiled draft rules proposing a substantial increase in the investment threshold for private equity (PE) and venture capital (VC) funds.

RBI MPC maintains 6.5% repo rate, raises FY24 GDP forecast to 7%

08 Dec 2023

In its bi-annual policy announcement, the Reserve Bank of India’s Monetary Policy Committee (RBI MPC) opted to keep the repo rate unchanged at 6.5%, marking the fifth consecutive decision to maintain the status quo.

Citigroup CFO reveals $1 billion cost for massive restructuring

07 Dec 2023

Mark Mason, Chief Financial Officer of Citigroup, disclosed that the bank’s extensive restructuring is expected to incur charges of approximately $1 billion for restructuring and severance.

What is a Ponzi scheme?

By Aniket Gupta | 06 Dec 2023

Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.

What is a Ponzi scheme?

By Aniket Gupta | 06 Dec 2023

Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.

Bitcoin surges above $40,000 amid positive market sentiment

04 Dec 2023

In a significant upswing, Bitcoin has surpassed the $40,000 mark, marking its highest point in 2023.

Bitcoin surges above $40,000 amid positive market sentiment

04 Dec 2023

In a significant upswing, Bitcoin has surpassed the $40,000 mark, marking its highest point in 2023.

The government allocates an additional Rs. 1,500 crore to the FAME-II program

04 Dec 2023

In a decisive move to bolster the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) program, the Centre has sanctioned an additional Rs. 1,500 crore for its second phase.

The Indian rupee strengthened by 11 paise to 83.29 against the US dollar

01 Dec 2023

In the early hours of Friday 1 December, 2023, trading session, the Indian rupee showcased resilience, appreciating by 11 paise to reach 83.29 against the US dollar.

Berkshire Hathaway Vice Chairman Charlie Munger passes away at age 99

29 Nov 2023

Charles Thomas Munger, the oracle of Pasadena and one of the most important figures in Berkshire Hathaway, passed away on Tuesday, 28 November 2023, at the age of 99.

Tech giant Apple set to break ties with Goldman Sachs for credit card business

29 Nov 2023

Apple has decided to terminate its credit card partnership with banking giant Goldman Sachs. Apple had sent a proposal to the Wall Street Bank to end the contract in the next 12 to 15 months.

RBI Governor Das: Increased risk weight is a precautionary approach to ensuring sustainable lending

23 Nov 2023

Reserve Bank of India (RBI) Governor Shaktikanta Das said that the recent instruction to increase risk weights for unsecured consumer loans by banks and non-banking financial companies (NBFC) is a cautious measure taken to ensure sustainable lending.

IndiGo's parent company, InterGlobe Aviation, set to contest tax claims exceeding Rs 1,666 crore

23 Nov 2023

IndiGo’s parent company, InterGlobe Aviation, stated on Wednesday, November 22, 2023, that they would challenge tax demands worth over Rs 1,666 crore.

Government explores legality of transferring unclaimed Sahara-Sebi funds to Consolidated Fund of India

20 Nov 2023

In the wake of Sahara Group founder Subrata Roy's recent demise, the Indian government is reportedly examining the legality of transferring the unclaimed funds from the Sahara-Sebi Refund Account to the Consolidated Fund of India.

Australian trading bourse and TCS to partner up to create trading software

20 Nov 2023

ASX Ltd., an Australian bourse operator, has partnered with Tata Consultancy Services (TCS) to create a product-based solution to replace its trading, clearing, and settlement systems.

RBI clears Hinduja Group acquisition of Reliance Capital

19 Nov 2023

Reserve Bank of India (RBI) on Friday approved a Rs9,650 crore debt resolution plan submitted by IndusInd International Holdings Ltd (IIHL), allowing the Hinduja Group firm to take over the assets of Reliance Capital.

Fedbank Financial Services IPO to open on 22 November

17 Nov 2023

Fedbank Financial Services Ltd, a non-banking financial company promoted by Federal Bank Ltd, has come out with an initial public offer (IPO), which will open for subscription on 22 November