The upcoming monsoon session of Parliament, typically held in July and August, is set to witness a significant discussion on the new Income Tax Bill. Finance Minister Nirmala Sitharaman made this announcement in the Lok Sabha while addressing discussions on the Finance Bill 2025. A Step Towards Simplification Introduced in the House on February 13, …
The Government of India offers various credit schemes to support small traders, farmers, and startups. These schemes are designed to provide financial assistance to promote entrepreneurship and economic growth. Below are details of some prominent credit schemes: Pradhan Mantri Mudra Yojana (PMMY) PMMY offers collateral-free institutional credit through Member Lending Institutions (MLIs), including Scheduled Commercial …
According to Minister of State for Finance Shri Pankaj Chaudhary, the government is actively reviewing the financial performance of Regional Rural Banks (RRBs) at both national and regional levels. The review meetings focus on key financial parameters, technological advancements, and strategic lending initiatives. A major agenda includes enhancing the Micro, Small, and Medium Enterprises (MSME) …
The Lok Sabha passed the Finance Bill 2025 on Tuesday, March 25, incorporating 35 government amendments aimed at tariff rationalisation, reducing input costs, and supporting domestic manufacturing. Finance Minister Nirmala Sitharaman highlighted the government’s commitment to promoting India’s industrial growth and ensuring a balanced taxation structure while discussing the bill in Parliament. Tariff Rationalisation and …
The Reserve Bank of India (RBI) has approved an ATM interchange fee hike. The revision will be effective from May 1, 2025. As per the decision, the cost of financial charges will rise by ₹2. Moreover, the cost of non-financial transaction charges increase by ₹1. As per news reports, small-size banks with a limited network …
The latest provisional payroll data from the Employees’ State Insurance Corporation (ESIC) reveals significant growth in its coverage for January 2025. A total of 18.19 lakh new employees have been added to the social security net, ensuring more workers benefit from the security provided by the ESI Scheme. Key Takeaways from January 2025’s ESIC Payroll …
The Indian government has urged public sector banks (PSBs) to offer loans up to ₹10 crore to MSMEs. This will accelerate seamless credit flow to small and medium enterprises. The government launched a digital footprint-based credit assessment model for MSMSE on March 6. Under this, it is encouraging banks to offer high-value loans MSMEs. This …
As per news reports, Indian banks will receive substantial treasury gains in Q1 of FY 2025-26. Banks hold large reserves of government securities (G-Sec). An anticipated decline in G-Sec returns can increase the bond prices. This can lead to windfall gains. Banks with a robust portfolio of G-Secs will gain the most. Factors Driving Yield …
India’s journey in the global technology arena is no longer just about being a low-cost outsourcing hub. It has transformed into a leading innovation partner, a strategic enabler of digital transformation, and a significant contributor to the global digital economy. Speaking at the Global Confluence 2025, Mr. Rajesh Nambiar, President of NASSCOM, highlighted India’s pivotal …
From April 1, 2025, UPI services will not work on reassigned or inactive numbers. This UPI update has been issued by the National Payments Corporation of India (NPCI). As per the order, mobile phone numbers inactive for 90 days will be automatically delinked from their associated bank account. This will reduce the risk of fraud …
