MUMBAI: Banks reported an increase in their weighted average lending rates in July despite a 50-basis point reduction in the repo rate in June. Bankers said this was likely triggered by a rise in the share of high-yielding loans to MSMEs, which typically pick up after the first quarter before the festive season. According to…
MUMBAI: As scores of Amazon and Flipkart sellers prepare for the upcoming festive season, which accounts for a huge chunk of their annual sales, there’s lack of clarity and confusion on the ground about the compliance challenges that the rejigging of GST slabs could possibly bring forth. For one, some sellers are worried that the…
Reserve Bank of India Deputy Governor M Rajeshwar Rao on Sunday flagged off a walkathon on cyber security awareness at Sukhna Lake here, stressing that banking services, especially digital platforms, are designed for public convenience and must be used responsibly.The walkathon, organised by the Bankers’ Club, Chandigarh, saw enthusiastic participation from bankers across the region,…
Delhi Chief Minister Rekha Gupta on Sunday announced that nearly Rs 1,600 crore in pending GST refunds since 2019 will be released to traders before Diwali, enabling them to celebrate the festival with “greater joy and prosperity.”Gupta chaired a special meeting of the Department of Trade and Taxes at her Civil Lines camp office, which…
The Trump family’s latest foray into cryptocurrency has triggered questions over conflict of interest after a $750 million transaction put their businesses on both sides of the deal, The Wall Street Journal reported.According to the WSJ, the arrangement centres on World Liberty Financial (WLFI) — the Trump family’s flagship crypto venture launched last year. Earlier…
The Gems and Jewellery Export Promotion Council (GJEPC) has urged the Centre to announce immediate relief measures after the United States imposed 50 per cent tariffs on Indian goods, a move that exporters say has started hurting the $40 billion industry.The penal duties, which came into effect on August 27, have already disrupted shipments to…
Gold prices, which touched fresh record highs in India last week, may face a crucial test in the coming days as global macroeconomic cues and Federal Reserve signals drive investor sentiment, analysts said.The most-traded October contract on the Multi Commodity Exchange (MCX) surged to an all-time high of Rs 1,04,090 per 10 grams on Friday…
India has developed its first indigenous water-soluble fertiliser technology after seven years of research, marking a breakthrough that could transform the country from an import-dependent buyer to an export-oriented player in specialty fertilisers.Backed by the Ministry of Mines and designed using Indian raw materials and plants, the innovation is being hailed as a true “Make…
The losses faced by Indian textile exporters due to steep reciprocal tariffs imposed by the United States may be cushioned by rising exports to the United Kingdom under the recently concluded India-UK Free Trade Agreement (FTA), CareEdge Ratings said in a report.The ratings agency noted that ongoing negotiations with the European Union could further open…
Private sector capital investment is expected to climb 21.5 per cent to Rs 2.67 lakh crore in 2025-26, aided by strong macroeconomic fundamentals and a 100-basis-point policy rate cut, according to an article in the Reserve Bank of India’s August bulletin.The article, titled Private Corporate Investment: Growth in 2024-25 and Outlook for 2025-26, said Indian…
