The government of India has raised the drawback duties on gold and silver articles. As per a notification issued by the Finance Ministry, drawback duties on gold articles have risen from ₹335.50 to ₹405.40 per gram. Meanwhile, those on silver items have increased to ₹4950.03 per kilogram, up from ₹4468.10. What Is a Duty Drawback? …
Debates over 5-day banking workweek have reemerged among bank employees amidst rapid digital transformation. They demand weekly offs like other banks’ employees worldwide. However, this shift has multiple pros and cons, and they must be carefully evaluated. Advantages of a 5-Day Banking Workweek Employee Well-being A 5-day workweek for bank employees can enhance their well-being. …
The risk posed by US tariffs have prompted the Asian Development Bank (ADB) to reduce its growth forecast for India. In FY26, the economy is expected to grow by 6.7%, instead of 7%. In its April 2025 outlook report, the ADB also noted that global economic uncertainty could slow down investment projects in India. This …
The PM Mudra Yojana was launched on April 8, 2015. Various government sources suggest varying trends in average loan sizes disbursed under the scheme. The initiative aims to give micro and small businesses access to formal financing. This includes loans for income-generating activities such as manufacturing, trading, and allied agricultural sectors. Loan Categories Under the …
The Reserve Bank of India (RBI) has received prestigious global recognition. Global Finance has named it the Most Innovative Financial Institution in its 2025 Innovators list. The central bank announced this achievement in a post on X, formerly known as Twitter. This makes the RBI the first central bank to win this significant award. Recognition …
As per news reports, the ‘One State-One RRB’ plan is expected to be launched soon by India’s Finance Ministry. This plan aims to consolidate 43 Regional Rural Banks (RRBs) into 28. This will increase operational efficiency and reduce costs. Consolidation Details Most consolidation work is complete. The fourth round of mergers will happen soon. As …
Women’s participation in India’s capital market has seen a notable increase, especially since the pandemic, according to a report by the Ministry of Statistics and Programme Implementation (MoSPI). The report highlights that more women are now investing in the market, reflecting a shift towards financial empowerment. Increasing Women’s Participation in Capital Markets The number of …
The Unified Payments Interface (UPI) in India has achieved a new milestone in March, showcasing the increasing adoption of digital payments in the country. Data released by the National Payments Corporation of India (NPCI) indicates a significant surge in both the volume and value of UPI transactions during the month, primarily attributed to year-end financial …
Despite a slight slowdown in export growth, India’s manufacturing sector achieved its highest performance in 8 months. According to the HSBC India Manufacturing Purchasing Managers’ Index (PMI) released on Wednesday, a sharp rise in new orders and production drove this improvement. India’s PMI Shows Substantial Growth The seasonally adjusted HSBC India Manufacturing PMI rose to …
From April 1, 2025, the e-invoice portal will enforce new GST e-invoicing rules. Businesses with an Annual Aggregate Turn Over (AATO) of ₹10 crore must report e-invoices. This reporting must be done within 30 days of invoice issuance. This significantly lowers the previous ₹100 crore threshold. A large number of businesses will now be affected. …
