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New Delhi: The income tax department on Monday said "banking company" governed by the provisions of the Banking Regulation Act, 1949, will deduct TDS on interest income beyond the prescribed threshold. Under the Income Tax law, the tax is to be deducted at source if the interest income from bank/post office deposits exceeds Rs 50,000 for ordinary citizens, or Rs 1 lakh for senior citizens, in a financial year. In a post on X, the income tax department said under Section 402 of the new Income T ...Read More >
Mumbai: Former HDFC Bank part-time chairman and independent director Atanu Chakraborty has revealed that his resignation on March 18 was driven by ethical concerns, not personal conflicts. Speaking to CNBC-TV18 on March 30, he clarified that the decision was based on a difference in understanding of values and ethics. Concerns Over Governance and Systems Chakraborty raised serious questions about the bank's governance practices. He said independent directors are responsible not just for review ...Read More >
India financial reforms from April 1: Income-tax Act 2025, PAN rules, credit card reporting, TDS changes, RBI 2FA mandate and railway ticket rules explained India is set to usher in a wide-ranging set of regulatory and financial changes from April 1, 2026, covering taxation, banking, digital payments, credit cards, labour laws, and railway ticketing, as part of efforts to modernise systems, improve compliance, and enhance user convenience. Income-tax overhaul begins The six-decade-old Income- ...Read More >
New Delhi, Mar 30 (PTI) The income tax department on Monday said "banking company" governed by the provisions of the Banking Regulation Act, 1949, will deduct TDS on interest income beyond the prescribed threshold. Under the Income Tax law, the tax is to be deducted at source if the interest income from bank/post office deposits exceeds Rs 50,000 for ordinary citizens, or Rs 1 lakh for senior citizens, in a financial year. In a post on X, the income tax department said under Section 402 of the ...Read More >
New Delhi [India], March 30 (ANI): Reserve Bank of India (RBI) endeavours to maintain sufficient liquidity in the banking system to ensure that the productive requirements of the economy, including the rural sector, are met and transmission to market rates remains robust. According to a statement released by the Finance Ministry, "the Government has taken various measures to ensure uninterrupted credit flow for rural development initiatives, including SHGs." Also Read | Rampur Shocker: Woman D ...Read More >
New Delhi [India], March 30 (ANI): The Union government has taken various steps to support farmers, including small and marginal, through increasing access to Kisan Credit Cards (KCC), and promoting their digital issuance in all States/UT. According to a statement released by the Ministry of Finance, "the Priority Sector Guidelines of Reserve Bank of India (RBI) issued to banks, and Ground Level Agriculture Credit (GLC) Target by the Government to banks act as key policy instruments in scaling ...Read More >
Mumbai, Mar 30 (PTI) The Reserve Bank of India (RBI) on Monday injected Rs 84,582 crore of transient liquidity into the banking system through two variable rate repo (VRR) auctions. The central bank injected Rs 50,001 crore through first three-day VRR auction early in the day at cut-off rate of 5.34 per cent and weighted average rate of 5.44 per cent, the central bank said in a release. The RBI injected another Rs 34,581 crore at 5.26 per cent cut-off and 5.30 per cent weighted average rate at ...Read More >
Mumbai: Nifty Bank has recorded its worst monthly performance in six years, with the index falling more than 16 percent in March. This is the steepest decline since March 2020, when markets had crashed during the COVID-19 outbreak. What makes this fall significant is that every single one of the 14 stocks in the index declined, and all losses were in double digits. The fall ranged between 11 percent and 22 percent, showing broad-based weakness across the banking sector. Heavy Losses in Large B ...Read More >
Mumbai, March 31: Banks across India are set to witness a high number of non-working days in April 2026, with the Reserve Bank of India (RBI) holiday calendar indicating up to 14 days of closures in various states. This total includes regional festivals, national holidays, and standard weekend breaks. As the new financial year (FY 2026-27) commences, customers are advised to plan their branch-related tasks early, though digital services like UPI, IMPS, and Net Banking will remain operational thr ...Read More >
Mumbai, March 30: Indian stock markets ended the last trading session of fiscal year 2026 on a weak note, dragged down by rising global tensions due to the ongoing Middle East conflict. The prolonged war has raised concerns about economic growth and inflation, leading to heavy selling across equities. The benchmark Nifty fell sharply by 2.14 per cent, or 488.20 points, to close at 22,331.40. Similarly, the Sensex dropped 2.22 per cent, or 1,635.67 points, ending the session at 71,947.55. Commen ...Read More >
New Delhi: The Income Tax Department has clarified how TDS (tax deducted at source) will apply to interest earned from banks under the new Income-tax Act, 2025. Many people were confused about whether banks would start deducting tax even on small interest amounts. What was the rule earlier? Under the Income-tax Act, 1961, banks did not deduct TDS on interest if it stayed below certain limits. These limits were Rs 50,000 or Rs 1,00,000, depending on the type of taxpayer, such as senior citizens ...Read More >
From April 1, 2026, RBI new rules for digital payments will change how Indians make online transactions. If you use UPI, cards or wallets, expect extra security checks. The Reserve Bank of India is making two-factor authentication mandatory, which means OTP alone will no longer be enough. Many users are searching for RBI digital payment rules April 1, what changes in UPI payments, and how this affects daily transactions. While the process may feel slightly longer, the goal is simple, make digit ...Read More >
The Indian Premier League (IPL) 2026 season has barely begun, but it has already delivered its first major controversy. Following Kolkata Knight Riders' (KKR) six-wicket defeat to Mumbai Indians (MI) at the Wankhede Stadium, a pointed remark from captain Ajinkya Rahane has triggered a wider debate - forcing Cricket Australia (CA) to step in with a clarification. At the centre of the storm is Cameron Green, KKR's high-profile signing worth INR 25.20 crore, who did not bowl a single over despite ...Read More >
New Delhi: The Lok Sabha on Monday passed a bill to amend the insolvency law to provide for strict timelines, an out-of-court settlement option and enable the framework for cross-border insolvency processes. Piloting the bill in the Lok Sabha, Finance and Corporate Affairs Minister Nirmala Sitharaman said that 12 amendments are being made in the Insolvency and Bankruptcy Code (IBC), which came into force in 2016, that would help maximise the value for stakeholders and improve the governing proc ...Read More >
Mumbai, March 30 (SocialNews.XYZ) Indian stock markets ended the last trading session of fiscal year 2026 on a weak note, dragged down by rising global tensions due to the ongoing Middle East conflict. The prolonged war has raised concerns about economic growth and inflation, leading to heavy selling across equities. The benchmark Nifty fell sharply by 2.14 per cent, or 488.20 points, to close at 22,331.40. Similarly, the Sensex dropped 2.22 per cent, or 1,635.67 points, ending the session at ...Read More >
Mumbai: Indian stock markets witnessed heavy selling pressure as the Sensex plunged nearly 1200 points in early trade, wiping out around ₹5 lakh crore of investor wealth amid global tensions and rising crude oil prices. Global Factors Trigger Massive Sell-Off The sharp decline was driven by the ongoing West Asia conflict, continuous selling by foreign investors, and surging crude oil prices. As trading began on Monday, the BSE Sensex dropped significantly, while the Nifty 50 also saw steep los ...Read More >
Mumbai (Maharashtra) [India], March 30 (ANI): Dark clouds of selling continued to hover over Dalal Street on Monday morning as Indian benchmark indices opened sharply lower amid rising geopolitical tensions and surging crude oil prices. The Nifty 50 opened at 22,549.65, declining by 269.95 points or (-1.18 per cent), while the BSE Sensex slipped to 72,603.07, falling by 980.15 points or -1.33 per cent in early trade. Also Read | Bank Holiday: Are Banks Open or Closed on 31st March for Mahavir ...Read More >
Mumbai, March 30 (SocialNews.XYZ) Banking stocks came under heavy selling pressure on Monday, with the Bank Nifty index falling over 2 per cent in the early trade, as the Reserve Bank of India's (RBI) recent measures aimed at supporting the rupee came into effect. All constituents of the Bank Nifty traded in the red, indicating broad-based weakness across the banking pack. The index declined as much as 2.65 per cent, or 1,386.45 points, to 50,888.15, hitting an intraday low around 10:45 a.m. It ...Read More >
New Delhi: The Rajasthan Board's 12th-grade exams have concluded. The evaluation of answer sheets will begin, after which everyone will eagerly await their results. Students who appeared in the exams are eagerly awaiting their results. There's no clear word yet on when the results will be released. The results are expected to be released in April. According to media reports, they could be released by April 10, 2026. Students who took the Rajasthan Board 12th-grade exams can easily check their r ...Read More >
Gurugram : Women borrowers are emerging as some of the most reliable participants in India's credit ecosystem, according to behavioral insights from the financial empowerment platform Zavo. Drawing on activity across more than 3 million users on its platform, Zavo's data indicates that women borrowers consistently show stronger repayment discipline and higher engagement with their financial obligations than male borrowers. Within the platform, 948,000 users are women, accounting for 31.6% of t ...Read More >
Closing Bell: Indian equities ended the session sharply lower on Wednesday as broad-based selling across sectors dragged benchmark indices down nearly 1.5%. Financial heavyweights and auto stocks led the decline, pushing the Nifty below the 23,900 mark. The Sensex fell 1,342 points to close at 76,864, while the Nifty 50 dropped 395 points to settle at 23,867. Banking stocks were among the worst hit, with the Nifty Bank index sliding over 2% or 1,215 points to 55,736. Axis Bank, Kotak Mahindra B ...Read More >
New Delhi, March 11 (SocialNews.XYZ) India undertook an "ambitious financial‑technology transformation in modern history," to become "one of the world's most advanced digital payment ecosystems" creating a model for developing economies, a report has said. India's model shows how "government policy, technological innovation and widespread mobile connectivity can combine to create efficient payment infrastructure," the report from Azerbaijan-based News.az said. India's digital payment revolutio ...Read More >
Haryana chief minister Nayab Singh Saini informed the state assembly on Tuesday that the entire amount deposited with IDFC First Bank has been recovered, including interest, within 24 hours of the fraud coming to light. Making a statement on the floor of the House immediately after Question Hour, Saini said that by Monday evening, the bank had returned approximately ₹556 crore, which includes ₹22 crore in interest, to government accounts. "The entire amount has been deposited back into our ...Read More >
Mumbai (Maharashtra) [India], February 24 (ANI): IDFC FIRST Bank has credited ₹583 crore to departments of the Government of Haryana within 24 hours, honouring 100 per cent of the principal and interest claimed following a fraud incident at its Chandigarh branch, the bank said on Tuesday. According to a statement issued by the bank, preliminary findings indicate that certain branch employees allegedly acted fraudulently in clearing forged instruments and payment instructions, potentially in col ...Read More >
HYDERABAD: Covasant Technologies on Tuesday said it has secured ISO/IEC 42001:2023 accredited certification, becoming one of a small number of organizations worldwide to hold the international standard for an Artificial Intelligence Management System (AIMS).The company said the milestone places it alongside global technology leaders such as IBM, Microsoft, AWS and Snowflake in demonstrating independently verified AI governance practices.The ISO/IEC 42001 certification evaluates how AI risks are ...Read More >
CHANDIGARH: A portion of the frontal section of Congress MLA Sukhpal Singh Khaira's house in Bholath, Kapurthala, was demolished on Monday by the office of the Block Development and Panchayat Officer (BDPO). Khaira, a strong critic of Punjab Chief Minister Bhagwant Mann, condemned the move, calling it the dangerous introduction of "bulldozer (Pila-Panja) politics" in Punjab by Mann under directions from AAP supremo Arvind Kejriwal, aimed at silencing criticism and democratic dissent. As the de ...Read More >
New Delhi, Feb 23 (PTI) A total of Rs 30.52 crore stuck in over seven lakh inoperative accounts of the retirement fund body EPFO will soon be returned to the account holders or their legal heirs, a labour ministry source said on Monday. The Ministry of Labour & Employment, in a review meeting, decided to settle 7.11 lakh inoperative accounts of the Employees' Provident Fund Organisation (EPFO), each having a balance of up to Rs 1,000, the source said. The provident fund account, which has not ...Read More >
MUMBAI : Proprietary traders, whose cost of capital is set to rise sharply under the banking regulator's new funding directives on capital market exposure, posted a significant increase in market share in the popular index options space. Their gross market share based on premium turnover jumped by 230 basis points (bps) year-on-year to 49.5% in the nine months through 2025-26, according to data sourced from the country's largest stock exchange, National Stock Exchange of India Ltd (NSE). A basi ...Read More >
Bangalore, India - - Infosys, a global leader in digital services and consulting, announced a strategic collaboration with Anthropic, an AI safety and research company, to develop and deliver advanced enterprise AI solutions. The initial focus will be on telecommunications, with plans to expand into financial services, manufacturing, and software development. The partnership, revealed today, centers on integrating Anthropic's Claude models - including Claude Code - with Infosys Topaz AI offerin ...Read More >
MUMBAI, Feb 17 (Reuters) - Global private equity investors such as KKR and Blackstone have a new investment hotspot in India: cricket. The Indian Premier League, the world's richest cricket league, counts Bollywood stars, Indian tycoons and spirits maker Diageo among its backers, but is now attracting major private equity firms with the prospect of rapidly rising revenues and profits and a large global viewership. The enterprise value of the league, colloquially known as the IPL, rose to a rec ...Read More >
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