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 …
The Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) has been a cornerstone of the Indian government’s efforts to address housing issues in rural areas, providing financial assistance to eligible families for the construction of homes. The scheme offers a helping hand to individuals and families living in rural regions, particularly in the plains and hilly areas, ensuring …
The Indian National Space Promotion and Authorization Centre (IN-SPACe) has introduced the Technology Adoption Fund (TAF) scheme to support Indian industries, particularly startups, in commercialising early-stage space technologies. This initiative aligns with India’s broader vision of enhancing self-reliance in space technology and reducing dependence on imports. Objectives of the TAF Scheme The primary aim of …
The Indian rupee extended its weekly gains on Friday, buoyed by steady dollar inflows that helped counter the decline in other Asian currencies. The rupee ended the day at ₹85.98 per U.S. dollar, marking a 0.46% appreciation and extending its weekly advance to nearly 1%. Rupee Ends as the Best-Performing Asian Currency With this week’s …
In India, starting a business can be an exciting venture for you, but commuting the legal and regulatory process might make the process difficult. Luckily, India has simplified the registration process for startups, especially with the launch of the Startup India programme. This initiative was launched by the Ministry of Commerce and Industry to help …
