Finance - general

PFRDA notifies amendments to National Pension System Trust and Pension Fund regulations

22 Feb 2024

The Pension Fund Regulatory and Development Authority (PFRDA) has notified the amendments to the regulations governing the National Pension System Trust and the Pension Funds

Net direct tax collection up 20.25% at Rs15.60 lakh crore so far in FY24

12 Feb 2024

Direct tax collection (net of refunds) in the country increased by 20.25 per cent year-on-year to Rs15.60 lakh crore, so far during the current financial year (2023-24) year (up to 10 February 2024),

Finance minister tables white paper on state of Indian economy before and after 2014

10 Feb 2024

Finance minister Nirmala Sitharaman on Thursday tabled a 'white paper on the Indian economy' detailing the state of the economy prior to 2014 and after

India’s GST collection rises 10.4% to Rs1,72,129 cr in January

01 Feb 2024

Gross revenue collected by way of Goods and Services Tax (GST) in January 2024 stood at Rs1,72,129 crore, recording a 10.4 per cent year-o-year growth over the Rs155,922 crore collected in January 2023

REC raises 61.1 billion yen via medium term notes issue

17 Jan 2024

REC Limited has successfully issued its inaugural 61.1 billion Japanese Yen ($41.56 million) 5-year, 5.25-year and 10-year Green bonds, as part of its $10 billion global medium term notes programme.

Thomson Reuters proposes a $627 million acquisition of Sweden's Pagero

11 Jan 2024

Thomson Reuters has officially put forward a proposition to acquire Pagero, a Swedish company specializing in e-invoicing and tax solutions. The offered amount stands at a noteworthy 6.4 billion crowns (Krona), translating to approximately $627 million.

REC, Bank of Baroda join hands to finance power, infrastructure and logistics projects

05 Jan 2024

REC Limited has signed a memorandum of understanding (MoU) with Bank of Baroda to facilitate joint lending to finance power, infrastructure and logistics projects in the country over the next three years.

India's fintech sector faced a 63% funding decline in 2023

04 Jan 2024

Amid the funding winter, India’s fintech sector experienced a significant setback, with a 63% decline in fund inflows throughout 2023, according to a report by Tracxn.

Chennai tax officials issue a Rs. 663 crore GST demand notice to LIC

04 Jan 2024

The Life Insurance Corporation of India (LIC) stated on Wednesday, 3 January 2024, that tax authorities have issued a demand notice amounting to approximately Rs 663.45 crore, citing short payment of Goods and Services Tax (GST).

Monthly GST collection in April-December averages Rs1.66 lakh crore

04 Jan 2024

Revenue collection by way of Goods and Services Tax (GST) for December 2023 stood at Rs,164,882 crore, while gross GST collection for the first nine months of the current financial year

India hikes windfall tax on crude, eliminates tax on diesel and ATF

03 Jan 2024

Government of India on Monday announced an increase in the windfall tax levied on locally-produced crude petroleum while doing away with the tax on diesel and aviation turbine fuel (ATF).

Hindustan Unilever faces Rs 447.5 crore GST demands and penalties

02 Jan 2024

Leading fast-moving consumer goods (FMCG) manufacturer, Hindustan Unilever Ltd. (HUL), disclosed on Monday, 1 January 2024, that it has been served with Goods and Services Tax (GST) demands and penalties totaling Rs. 447.5 crores by the authorities.

Bitcoin surges beyond $45,000, setting a new two-year high

02 Jan 2024

In a remarkable milestone, Bitcoin has surged past the $45,000 mark, marking its highest value in nearly two years.

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.