The New India Co-operative Bank (NICB), once a trusted financial institution for thousands of account holders, finds itself in troubled waters following a large-scale embezzlement case involving Rs 122 crore. On February 13, 2025, the Reserve Bank of India (RBI) imposed restrictions on the bank, severely limiting withdrawals and triggering widespread concern among depositors. Depositors …
In response to rising concerns among apartment residents, the Central Board of Indirect Taxes and Customs (CBIC) has clarified the applicability of Goods and Services Tax (GST) on housing society maintenance charges. The clarification aims to eliminate confusion regarding whether GST applies solely to the portion exceeding ₹7,500 or the entire contribution when certain thresholds …
During the 24th FIMMDA-PDAI Annual Conference held in Bali, Reserve Bank of India (RBI) Governor Sanjay Malhotra raised a red flag regarding the shrinking liquidity in the call money market. This tightening of liquidity conditions, he noted, could hinder the seamless transmission of monetary policy decisions and limit the potential benefits of current policy rate …
Several media outlets recently reported that a satellite-based tolling system would be launched across India from May 1, 2025, replacing the existing FASTag-based toll collection. This news caused confusion among commuters and stakeholders. To clarify, the Ministry of Road Transport and Highways and the National Highways Authority of India (NHAI) have issued a statement confirming …
In response to mounting concerns over inconsistency and perceived harassment in the Goods and Services Tax (GST) registration process, the Central Board of Indirect Taxes and Customs (CBIC) has issued a detailed set of revised instructions. These new guidelines aim to bring clarity, transparency, and uniformity in GST registration procedures across jurisdictions, while curbing unnecessary …
The Employees’ Provident Fund Organisation (EPFO) is preparing for a sweeping digital overhaul with the launch of Version 3.0. Scheduled to go live between May and June 2025, this upgrade aims to bring improved efficiency, ease of access, and faster claim settlements for over 9 crore members. Union Labour and Employment Minister Mansukh Mandaviya announced …
The wheels are finally turning on the long-anticipated 8th Central Pay Commission (CPC), as the Department of Expenditure (DoE) under the Ministry of Finance has officially begun the process of forming the new pay panel. A recent vacancy circular outlines the government’s plan to fill 35 key positions in the commission on a deputation basis. …
India is on the verge of finalising a landmark defence agreement with France for the acquisition of 26 Rafale Marine fighter jets. Slated for signing on 28 April, the deal marks a major step in bolstering the Indian Navy’s air capabilities and deepening bilateral defence ties. The high-profile signing event is expected to take …
The Ministry of Finance has officially denied media reports suggesting that the government is considering imposing Goods and Services Tax (GST) on UPI transactions over ₹2,000. In a statement released on April 18, the ministry said the claims are false and not backed by any current proposal or discussion. No Proposal Under Consideration According to …
The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing changes to investment limits for mutual funds in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The is aimed at expanding investment scope and adjusting current regulatory caps. Existing and Proposed Limits Under the existing framework, mutual funds can …
