The Indian government has urged public sector banks (PSBs) to expand their digital footprint-based credit assessment model for micro, small, and medium enterprises (MSMEs). This initiative aims to streamline credit flow and reduce dependency on traditional asset-based evaluations. Expansion of Digital Credit Model for MSMEs On March 6, a new credit assessment model was introduced …
The Securities and Exchange Board of India (SEBI) has announced the formation of a high-level committee to review conflict of interest regulations and disclosure norms related to property, investments, and liabilities of its board members and officials. The committee will present its recommendations within three months for SEBI’s consideration. Committee Formation and Composition SEBI Chairperson …
The Ministry of Parliamentary Affairs has officially notified a 24% increase in the salaries of Members of Parliament, effective from April 1, 2023. The revision is based on the Cost Inflation Index and marks the first hike since 2018. Revised Salary Structure With the updated structure, an MP’s monthly salary has increased from ₹1,00,000 to …
On March 24, 2025, the Indian government introduced a significant amendment to the Finance Bill 2025, proposing the removal of the 6% equalisation levy on online advertising services. Commonly referred to as the “Google Tax,” this levy was imposed on payments made to non-resident digital service providers for online advertisements accessed by Indian users. If …
India’s steel industry is undergoing a transformation. With the launch and expansion of the Production-Linked Incentive (PLI) Scheme for specialty steel, the government is doubling down on its commitment to making India self-reliant in high-grade steel production. The second round of the scheme, dubbed PLI 1.1, has garnered strong industry participation and is poised to …
The Reserve Bank of India (RBI) has released a comprehensive revision to its Priority Sector Lending (PSL) guidelines, with changes set to take effect from April 1, 2025. These new measures are aimed at refining the allocation of bank credit to economically and socially significant sectors of the Indian economy. According to the central bank, …
In recent weeks, speculation around a possible change in the retirement age for central government employees resurfaced, sparking discussions across departments and public forums. However, the Ministry of Personnel has put all doubts to rest with an official clarification during a parliamentary session. No Change in Retirement Age, Says Government Union Minister Jitendra Singh, while …
The Securities and Exchange Board of India (SEBI), in its 209th board meeting held in Mumbai on March 24, 2025, approved several critical regulatory measures aimed at strengthening governance, improving transparency, and facilitating ease of doing business across various segments of the capital market ecosystem. The decisions span across Foreign Portfolio Investors (FPIs), Alternative Investment …
In a startling revelation that has gripped Mumbai’s financial and legal circles, the Economic Offences Wing (EOW) is investigating a complex embezzlement case involving the New India Co-operative Bank. The case revolves around the alleged misappropriation of ₹122 crore from the bank’s vaults and a series of fraudulent investments that followed. The latest arrest has …
The Indian Rupee (INR) weakened on Tuesday after strengthening for nine consecutive sessions, despite continued US Dollar (USD) sales from foreign banks and a resurgence in foreign inflows. The USD/INR exchange rate edged higher to 85.71, reflecting a 0.17% gain at 1:25 PM, as of March 25, 2025. The pair traded within a range of …
