Economic & Finance News
An official explained that all income tax returns (ITRs) claiming refunds above a specific threshold are subjected to new additional checks. The threshold for these enhanced reviews varies depending on [...]
India's net direct tax collections reached ₹11.89 lakh crore between April 1 and October 12, marking a 6.33% year-on-year increase. Despite a 15.98% drop in refunds issued, gross tax collections [...]
India's net direct tax revenue has risen by 6.33% to over ₹11.89 lakh crore by October 12th of the current fiscal year. This growth is attributed to robust corporate tax [...]
India's chartered accountants' body, ICAI, is working on a report to boost homegrown multi-disciplinary firms. The goal is to help these firms secure finances for global expansion. This initiative supports [...]
Indian tax authorities are targeting over 400 individuals for evading taxes on crypto trades conducted on Binance. These individuals allegedly hid their profits from digital assets parked in offshore wallets, [...]
NITI Aayog proposes significant reforms to the Income Tax Act, 2025, including decriminalizing 12 minor offenses and reducing mandatory minimum sentences. The aim is to foster a more predictable and [...]
Road transport and railway ministries have achieved record capital expenditure utilization in the first half of the financial year, spending over ₹3.1 lakh crore. This combined spending represents more than [...]
India's general government debt is projected to decline steadily over the next decade, falling from 81% of GDP to 71% by FY35, driven by sustained GDP growth and prudent fiscal [...]
India's combined pension schemes, NPS and APY, have surpassed Rs 16 lakh crore in Assets Under Management, with a subscriber base exceeding 9 crore. PFRDA is introducing initiatives like the [...]
The statistics ministry met with fintech firms to boost the national statistical system. Discussions focused on data accessibility and filling information gaps. Secretary Saurabh Garg spoke about data as a [...]
RBI Governor Sanjay Malhotra announced the conceptualization of a Unified Lending Interface (ULI) at the Global Fintech Fest 2025. This initiative aims to leverage data for alternative credit models, alongside [...]
India's Unified Payments Interface (UPI) has officially launched in Qatar, expanding beyond select airport duty-free shops to all retail outlets. This move significantly benefits the 830,000 Indian expatriates in Qatar, [...]
The Reserve Bank of India has linked its Bharat Connect bill payment system with the FX-Retail platform, allowing individual customers to purchase US dollars digitally. This initiative, initially available for [...]
The Supreme Court has sought a response from the Finance Ministry regarding a petition challenging the constitutional validity of the Securities Transaction Tax (STT). The petitioner argues that STT, levied [...]
Indian states are increasingly adopting Infrastructure Investment Trusts (InvITs) to monetise assets, inspired by the federal government's success. States like Maharashtra, Gujarat, and Tamil Nadu are preparing independent InvITs, while [...]
Market News
US Federal Reserve Chair Jerome Powell warned Tuesday that risks to employment had risen in recent months, noting there had been a sharp slowdown of job creation in the world's [...]
The Dow and the S&P 500 turned positive on Tuesday after Federal Reserve Chair Jerome Powell said the central bank may soon end its balance sheet runoff, easing investor concerns [...]
JPMorgan Chase has surpassed profit expectations for the third quarter. The bank has also increased its full-year net interest income forecast. Strong performance in trading and investment banking businesses fueled [...]
Indian markets ended lower for the second straight session, weighed by financial stocks and weak sentiment. The Sensex dropped 297 points while Nifty slipped 82 points. However, LG Electronics India [...]
The Supreme Court on Tuesday questioned TMC MP Mahua Moitra over her plea to mandate public disclosure of ultimate beneficial owners and portfolios of alternative investment funds, foreign portfolio investors [...]
The Supreme Court on Tuesday sought the response of the Centre, the Securities and Exchange Board of India (SEBI) and other stakeholders on a plea of Sahara India Commercial Corporation [...]
Nifty and Sensex extended losses for a second straight session as selling hit PSU banks, pharma, and metals. Analysts see Nifty consolidating between 25,000–25,300 and recommend five stocks — Kingfa [...]
Wall Street indexes dipped Tuesday amid renewed U.S.-China trade conflict concerns, overshadowing strong bank earnings. Investors parsed results from major lenders like JPMorgan and Goldman Sachs, while anticipating Federal Reserve [...]
Tier-1 IT services company Tech Mahindra on Tuesday company declared an interim dividend of Rs 15 per equity shares for the financial year 2025-26 and has fixed Tuesday, October 21 [...]
Tech Mahindra on Tuesday reported a 4.4% YoY fall in its Q2 net profit at Rs 1,194 crore versus Rs 1,250 crore in the year ago period. The profit after [...]
Citigroup reported a rise in third-quarter profit, as all its divisions brought in record revenue, sending the bank's shares up about 1% in trading before the bell. [...]
Leela Palaces Hotels & Resorts reported a 11% year-on-year revenue increase to Rs 333.4 crore in Q2, with profit after tax at Rs 75 crore. The luxury chain achieved its [...]
Wells Fargo on Tuesday beat Wall Street estimates for third-quarter profit and raised its closely watched profitability target after regulators removed an asset cap imposed on the bank, paving the [...]
Goldman Sachs' quarterly profit jumped more than 37% on Tuesday as its investment bankers earned higher advisory fees and rallying markets boosted revenue from managing client assets. [...]