The Bank’s customers can use the user-friendly Retail and Corporate Internet Banking platforms of IDFC FIRST Bank, or pay the taxes at any IDFC FIRST Bank branch using Cash, Cheque or Demand Draft.
EY anticipates significant reforms to simplify the tax system and improve taxpayer services, reduce litigation, and enhance tax compliance. Key suggestions include:
Financial Services Secretary M Nagaraju on Thursday said the government would soon launch a new credit guarantee scheme for the MSME sector covering loans up to Rs 100 crore.
According to an official press release, the RBI stated, “After reviewing the submissions made by the companies, and taking into account their revamped processes, systems, and commitment to maintaining compliance with regulatory guidelines—particularly in ensuring fairness in loan pricing—the Reserve Bank has decided to withdraw the restrictions imposed on both Asirvad Micro Finance Limited and DMI Finance Private Limited.”
originations by non-banking financial companies (NBFCs)2 was up a modest ~5%. Like-to-like growth (adjusted for volume from a large HFC that merged with a bank) for the nine months this fiscal is in line with the moderation in the assets under management (AUM) growth.
The partnership will enable customers of Tamilnad Mercantile Bank to trade online with Bajaj Broking and access its extensive suite of products and services. The cross-functional platform facilitates fund transfers, minimizes paperwork, and provides a unique tech-driven interface for investing in various products.
The RBI’s foreign-exchange reserves, which hit a record high of $705 billion in September, slid to an eight-month low of $640 billion as of December 27. The erosion roughly coincided with Donald Trump’s latest presidential election victory. The authority’s forwards book also showed a shortfall of about $60 billion as of November. This means it will have to buy a matching amount to settle maturing contracts or deplete its reserves further.
In terms of geographic distribution, the bonds were well distributed, with 50% in Asia, 32% in EMEA region and 18% in the USA. In terms of distribution to investor types, the bonds were distributed to high quality investors with around 64% distributed to Asset and Fund managers, 18% to Banks, and 16% to Insurance, Pension Funds & Public Sector, followed by private banks and others.
Ind-Ra-Mumbai-7 January 2025: India Ratings and Research (Ind-Ra) has maintained a neutral outlook on the overall banking sector for
Ind-Ra-Mumbai-7January 2025: India Ratings and Research (Ind-Ra) has revised the outlook on the microfinance (MFI) sector to deteriorating from