Finance

The Income Tax department has informed that it is constantly working together with Infosys to resolve the existing issues on the IT portal. The new, much-promoted income tax portal launched on June 7, 2021, with the Bengaluru-based IT…

GIBNA serves to alleviate the economy by securing the development of general insurance business in the country. The central government is known to be in works for introducing some changes in the General Insurance Business…

Paytm has launched a new service called ‘Postpaid Mini’, which will offer more credit to users, especially during the pandemic. You can now take small amount loans, ranging from Rs 250 to Rs 1000 from Paytm at 0% interest, for a fixed…

India Issues 5 Lakh Free Visas To Boost Tourism; Rs 1.5 Lakh Crore Credit For Small Businesses, Travel Agents The second wave of the Covid-19 pandemic left the country more economically crippled than the last one, some sectors more than…

Banks have identified about 22 bad loans of the order of Rs 89,000 crore, to be transferred to the bad bank in initial phase. In the Union Budget 2021-22 meeting on February 1, Finance Minister Nirmala Sitharaman proposed setting up a…

The PMLA court allows a consortium of 11 banks to auction Vijay Mallya’s properties, in order to restore their loan dues of amount worth over Rs 5,600 crore. In a positive move towards banks, the Prevention of Money Laundering Act…

Wipro’s share prices have buzzed up by an impressionable 31% since April 1, 2021, as opposed to its competitors, whose share prices have showed muted share price movement. The Bengaluru-based Wipro Ltd has been over the news, all for…

The main reasons for requesting personal loans were found to be medical emergencies, children’s education, and wedding expenses. According to a survey conducted by NIRA, 77% of people are dependent on personal loans to meet daily…

The Insolvency and Bankruptcy Code (IBC) was enacted in 2016 and in November 2019, the government amended the IBC, which gave lenders, mostly financial institutions and banks the ability to invoke insolvency against personal guarantors to…

Zomato, India's top online food delivery platform is getting ready for a massive IPO (initial public offering) with the Securities Exchange Board of India (SEBI). The food delivery aggregator plans to raise Rs 8,250 crore this year as the…

The finance ministry withdraws yesterday's order of slashing interest rates on small savings schemes. On Wednesday (March 31), the government had slashed interest rates on small savings schemes, including NSC and PPF, for the first…

Govt Sells 15% Stake In This Railways Entity To Private Investors; Will Privatisation Start In Indian Railways? Amidst the ongoing disinvestment drive, the government will be selling a 15% stake in the Rail Vikas Nigam Ltd, with a…

Supreme Court passes judgement on the best interests of banks and loan borrowers, on the issue of waiving interests on EMI during the loan moratorium period. On Tuesday, a finalized decision came from the Supreme Court, in regards to…

SBI, PNB, Bank of Baroda Won't Be Sold To Private Firms; These 6 Govt Banks Kept Out Of Privatisation Amidst the ongoing two-day nationwide bank strikes, conducted by bank unions and employees, opposing the finance ministry’s decision…

An amendment to Insurance Act to increase FDI limit from 49% to 74% has been approved. Just over a month after unveiling of the Union Budget 2021-22, a proposal to amend Insurance Act, 1938 has been approved. FDI which was earlier…

Government aims to monetize 100 government-owned assets, which is likely to generate Rs 2.5 lakh crores. Amidst the ongoing wave of disinvestment of government-owned companies, Prime Minister Modi comes forward and speaks about the…

Sitharaman announces working with RBI in the process of privatizing two more public banks. Last week after the budget meeting, we informed you of the Finance Minister's plans of conducting the privatisation process for two more public…

Two more public sector banks and insurance companies will be privatised in FY22, besides IDBI bank. According to the budget speech presented by Finance Minister Nirmala Sitharaman yesterday, the government will conduct the privatisation…

Finance Minister Nirmala Sitharaman presented the Union Budget 2021-22. Here are major highlights from the speech for you to cover the budget in less than one minute. FM said India is poised to be a land of new hope. The new infusion will…

Disinvestment deals of FY21 to be shifted to FY22. The government had set an annual disinvestment receipts target of Rs 2.1 lakh crore for fiscal year 2021, of which only Rs 30,000-40,000 crore have been achieved, which is 14-19% of the…