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Mumbai : UGRO Capital Limited ("UGRO" or "the Company"), a DataTech NBFC focused on MSME lending, announced its financial performance for the quarter ended June 30, 2025 (Q1'FY26). The Company sustained healthy year-on-year growth and a stable risk profile, while reinforcing structural growth engines of branch expansion in Emerging Markets, scale in Embedded Finance, and progress on the Profectus Capital acquisition and ongoing equity raise. Continuing its journey toward becoming the largest sma ...Read More >
India's UPI system, despite its global success, faces backlash as small vendors receive GST notices based on digital transaction data. This has led to a shift back to cash transactions, with vendors fearing tax scrutiny. Concerns rise that aggressive formalisation efforts may push the informal economy further underground, undermining the goals of financial inclusion and transparency. By all official accounts, India's digital payments revolution is a runaway success. The Unified Payments Interfa ...Read More >
New Delhi: Delhi govt has prepared a plan under which Delhi Transport Corporation (DTC) bus drivers and conductors will receive regular training, with a focus on ethical values, customer service and safe driving, transport minister Pankaj Singh said on Friday. The move is for improving the public image of DTC buses.The minister mentioned that DTC bus drivers who fail to halt at designated stops or are found speeding will face strict departmental action.Several commuters have complained about the ...Read More >
NEW DELHI: On a day when US notified additional levies for countries, with 25% imposed on Indian exports, govt hardened its position asserting that farm and dairy products, genetically modified food, beef and animal feed with meat are no-go areas.Without being confrontational, govt sources made it clear that cultural sensitivities and farmers' interest will be paramount in talks with the US and indicated India's willingness to move ahead with talks, with the next round scheduled to begin on Aug ...Read More >
New Delhi [India], July 20 (ANI): India has emerged as the global leader in fast payments, according to a recent note by the International Monetary Fund titled Growing Retail Digital Payments: The Value of Interoperability. At the heart of this transformation is the Unified Payments Interface, better known as UPI. Launched in 2016 by the National Payments Corporation of India, UPI has changed how people send and receive money in the country. It brings all your bank accounts together in one mob ...Read More >
Srinagar, Jul 19 (PTI) Former separatist leader Bilal Gani Lone has held the Hurriyat Conference responsible for its own irrelevance, calling the separatist conglomerate "non-functional", while also slamming Pakistan for creating a "mess" and "fissures" in Jammu and Kashmir. The comments of Lone mark a significant departure from traditional separatist rhetoric, acknowledging that both the Hurriyat and Pakistan had "faltered" on opportunities to bring progress to the region. The next generation ...Read More >
Mumbai: Private sector lender RBL Bank on Saturday posted a 46 per cent drop in its June 2025 quarter net profit to Rs 200 crore as it faced challenges on the core income front. The lender had posted a net profit of Rs 372 crore in the year-ago period, while the same figure had stood at Rs 69 crore in the preceding March quarter. Its core net interest income degrew 13 per cent to Rs 1,481 crore, impacted by an over 1.15 per cent drop in the net interest margin to 4.5 per cent against 5.67 per ...Read More >
Bengaluru: The Karnataka Commercial Tax Department has once again issued a clarification regarding the recent tax notices sent to bakeries, condiments, and tea stalls in Bengaluru. Following earlier backlash, the department had stated that traders with annual turnover below ₹1.5 crore can opt for the Composition Tax Scheme and pay only 1% tax, offering significant relief. Now, in a press release, the department reiterated that traders who have received notices should visit their respective tax ...Read More >
Mysuru /Bengaluru: As GST notices continue to land at the doorsteps of small traders across Karnataka, vendors in cities like Mysuru and Bengaluru are increasingly rejecting UPI payments in favour of cash -- raising concerns over the future of India's digital payment ecosystem.In Mysuru, small shopkeepers, hotel owners, PG operators, and auto drivers have started declining UPI payments after receiving tax notices. The state's commercial tax department, using cumulative UPI transaction data from ...Read More >
Niwas Housing Finance, formerly known as IndoStar Home Finance, is an affordable housing finance company with Rs 3000 crore ($ 359 million) in assets under management that has supported over 47,000 low income homeowners and small businesses across India Swedish fund EQT has completed the acquisition of Niwas Housing Finance Limited, formerly known as Indostar Home Finance, from IndoStar Capital Finance Limited, according to a company statement. EQT will invest Rs 500 crore ($58 million) as gro ...Read More >
Traders have announced a three-day protest plan. On 23rd July, milk sales will be suspended. Gutka and cigarette sales will be halted on 24th July, and Full closure of bakeries, condiment shops and petty stores will be on 25th June. On 25th July, Bengaluru is set to see a city-wide bandh. Thousands of small business owners are set to protest against GST notices issued by the Karnataka Commercial Taxes Department. The notices target businesses that accepted digital payments exceeding GST registr ...Read More >
Mumbai: The BMC is set to begin structural strengthening work on the Parel TT flyover in October this year. To minimise traffic inconvenience, the repairs will be carried out in phases by closing one lane at a time. The repair work was originally planned two years ago but was deferred as the Delisle Road Bridge in Lower Parel was still under reconstruction at the time. Undertaking both projects simultaneously would have worsened traffic congestion in central Mumbai. Constructed in 1980, the Pa ...Read More >
Mysuru /Bengaluru: As GST notices continue to land at the doorsteps of small traders across Karnataka, vendors in cities like Mysuru and Bengaluru are increasingly rejecting UPI payments in favour of cash -- raising concerns over the future of India's digital payment ecosystem.In Mysuru, small shopkeepers, hotel owners, PG operators, and auto drivers have started declining UPI payments after receiving tax notices. The state's commercial tax department, using cumulative UPI transaction data from ...Read More >
Lucknow, Jul 17 (PTI) Uttar Pradesh's capital city has secured the third position in the category of urban spaces with population exceeding 10 lakh, while Prayagraj was adjudged the Cleanest Ganga City in the ninth edition of the Swachh Survekshan. Lucknow also became the first city in the state to achieve a 7-star Garbage Free City rating in the 2024-25 survey. Gorakhpur achieved double success, ranking third in the Safai Mitra Surakshit Sheher category and fourth among cities with a population ...Read More >
New Delhi, Jul 17 (PTI) Sweden-based investment firm EQT on Thursday completed the acquisition of Niwas Housing Finance Limited, formerly known as Indostar Home Finance, a subsidiary of IndoStar Capital Finance Ltd. Following the acquisition, EQT will invest Rs 500 crore as growth capital to support geographic expansion and enhance digital capabilities of Niwas Housing Finance, a joint statement said. Also Read | 'A Decade of Digital India' Reel Contest by Government of India: How To Participa ...Read More >
New Delhi, Jul 17 (PTI) The Panchayati Raj Ministry on Thursday said it has brought together 19 partner institutes of planning and architecture to prepare spatial development plans for 36 gram panchayats across 14 states as a pilot project. A two-day workshop in this regard, titled 'Navingram --" Re-Imagining the Village', commenced in Madhya Pradesh capital Bhopal on Thursday, the ministry said in a statement. A Gram Panchayat Spatial Development Plan (GPSDP) is a comprehensive plan that guid ...Read More >
New Delhi, Jul 17 (PTI) Sweden-based investment firm EQT on Thursday completed the acquisition of Niwas Housing Finance Limited, formerly known as Indostar Home Finance, a subsidiary of IndoStar Capital Finance Ltd. Following the acquisition, EQT will invest Rs 500 crore as growth capital to support geographic expansion and enhance digital capabilities of Niwas Housing Finance, a joint statement said. This transaction valued at Rs 1,750 crore marks a significant milestone in Niwas' journey as ...Read More >
Mumbai, Jul 17 (PTI) Axis Bank on Thursday reported a 3 per cent dip in its June quarter consolidated net profit at Rs 6,243.72 crore, impacted by the implementation of changes in non-performing assets and loan upgrade policy. On a standalone basis, the third largest private sector lender's net profit declined to Rs 5,806 crore from the year-ago period's Rs 6,034 crore, but was down sharply when compared with the quarter ago period's Rs 7,117 crore. The bank's core income showed low growth in ...Read More >
New Delhi [India]: If you're selling online, then you already know how important smooth payments are. But speed isn't everything. What matters just as much, if not more, is safety. People need to feel confident when they enter their card or UPI details. That's where a payment gateway plays its role. It's not something your customers see much, but it works in the background every single time someone pays. What Is a Payment Gateway? It's a tool that connects your website or app to the banks. Whe ...Read More >
Bengaluru: Small businesses across Karnataka -- including tea stalls, bakeries, salons, and local eateries -- have raised concerns after receiving GST notices based on their UPI transaction volumes. The Commercial Tax Department has issued these notices to entities whose annual digital receipts exceeded ₹40 lakh for goods or ₹20 lakh for services, even if they are not GST-registered. Tax consultants are urging affected traders to respond to the notices within the stipulated deadline to avoid pe ...Read More >
Puri (Odisha) [India], July 14 (ANI): Renowned sand artist Sudarsan Pattnaik created a sand art at Puri beach on Sunday. He crafted a sand idol of Lord Shiva to mark the first Monday of the auspicious Sawan month. Sudarsan Pattnaik said, The entire nation is devotional for the first Shravan Somvaar. We have made Lord Shiv 6-feet high sculpture... In Puri Jagannath Dham, there is a temple of Lord Loknath, and here also, many devotees have arrived. As an artist, I am praying to God to bless us wi ...Read More >
Bengaluru: In a significant move to increase tax collections, the govt has begun using Unified Payments Interface (UPI) data to identify traders, especially those accepting payments via QR codes, who have evaded goods and services tax (GST) registration.After analysing UPI transactions, the commercial taxes department recently issued notices to some 14,000 traders. Officials say these individuals have crossed the mandatory GST registration thresholds but failed to register. Under GST rules, trad ...Read More >
Mumbai, July 11: The Income Tax Department has officially released the Excel-based utilities for ITR-2 and ITR-3 forms for the Assessment Year (AY) 2025-26, enabling individuals with more complex income sources, including capital gains, cryptocurrency, and professional income, to begin filing their tax returns. The announcement was made via the department's official X, formerly Twitter, handle, saying, "Attention Taxpayers! Excel Utilities of ITR-2 and ITR-3 for AY 2025-26 are now live and avail ...Read More >
New Delhi -- HP today announced the launch of the HP Laser M300 Series in India, a range of laser printers tailored for the needs of India's fast-growing SMBs, local businesses, and printing service shops. The series includes five models -- Laser MFP 323sdnw, 323dnw, 323d, 303dw, and 303d -- delivering fast auto-duplex printing, sharp print quality, and energy efficiency, all at accessible price points. The new HP Laser M300 series is built for Indian businesses that need speed, compact design, ...Read More >
New Delhi, July 2025: As Odisha welcomed millions of visitors for Ratha Yatra 2025, Coca-Cola India, in partnership with its bottling operations, ensured access to refreshment and hydration for those attending one of India's largest cultural festivals. The company's on-ground presence made chilled beverages easily accessible across Puri, while supporting the local economy. To make this possible, the company ensured availability of beverages through a strong retail and distribution network acros ...Read More >
New Delhi, July 9 (SocialNews.XYZ) Gross loan advances by non-banking financial companies (NBFCs) have grown significantly, doubling from Rs 24 lakh crore as of March 2021 to Rs 48 lakh crore as of March 2025, Finance Minister Nirmala Sitharaman said on Wednesday. Addressing the 'NBFC Symposium 2025' here, she said NBFCs have emerged as an important source of credit for segments that have historically been underserved or excluded. "The NBFC ecosystem has over 9,000 registered entities, which r ...Read More >
New Delhi: Non-banking financial companies (NBFCs) will be central to India's journey towards becoming a Viksit Bharat (developed nation) by 2047, but they must follow responsible and transparent lending practices, finance minister Nirmala Sitharaman said on Wednesday. Addressing the NBFC Symposium 2025, organized by the department of financial services (DFS) in New Delhi, Sitharaman said interest rates must remain reasonable, rate cuts must be passed on to borrowers, and all charges must be cl ...Read More >
Kolkata: Traffic movement in parts of Kolkata was heavily affected on Tuesday due to demonstrations and processions carried out as part of the Bharat Bandh called by several trade unions and farmer organizations. Major traffic diversions were put in place across the city. A large procession was reported on the Sealdah Flyover and AJC Bose Road, leading to temporary roadblocks and diversions during peak hours. Authorities also confirmed a significant demonstration at Raja SC Mullick Road, causin ...Read More >
Piyush Goyal announced a scheme to boost toy production. The scheme will focus on enhancing design, quality, packaging, and brand building. India's toy industry is now exporting to 153 countries. This shift is due to policy support and quality standards. The government will support startups with innovative toy concepts. Industry leaders see huge potential to increase toy exports from India. Commerce and Industry Minister Piyush Goyal on Friday said a scheme to boost toy production in the country ...Read More >
Mumbai, July 5 (SocialNews.XYZ) Private lender IndusInd Bank has reported a 3.9 per cent year-on-year (YoY) fall in net advances to Rs 3,34,477 crore for the quarter ended June 30 (Q1 FY26). The figure stood at Rs 3,47,898 crore in the same period previous year (Q1 FY25). On a sequential basis, advances dropped 3.1 per cent from Rs 3,45,019 crore reported in the March quarter (Q4 FY25). The decline was largely driven by weak performance in the bank's corporate banking segment, which fell sharp ...Read More >
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