India's FY24 fiscal deficit at 5.6% of GDP lower than estimated 5.8%
New Delhi: India's fiscal deficit for FY24 was Rs 16.54 lakh crore, below the budgetary target of Rs 17.86 lakh crore, reaching 95.3 percent of the target, according to data from the Comptroller General of Accounts released on Friday.
India's foreign exchange reserves shoot by $4.549 bn to a record $648.7 bn
New Delhi: India's foreign exchange reserves surged by $4.549 billion to a record high of $648.7 billion for the week ending May 17, according to the Reserve Bank's announcement on Friday.
Centre plans to borrow Rs 7.5 lakh cr to bridge revenue gap and bolster growth
New Delhi: The government is planning to borrow Rs 7.5 lakh crore through market borrowing between April and September 2024-25 to bridge the revenue gap and stimulate economic growth, the finance ministry said on Wednesday.
Persistently high food prices hindering drop in inflation to 4%: RBI Bulletin
New Delhi: Food price pressures are hindering a more rapid decline in retail inflation towards the Reserve Bank's target of 4 percent, according to an article in the central bank's March Bulletin.
Direct tax collection surges 20% to Rs 18.90 trillion till March 17q
New Delhi: The income tax department reported a growth of 19.88 percent in net direct tax collection, which has surpassed Rs 18.90 trillion as of March 17.
Centre releases Rs 72,961.21 cr as additional installment of tax devolution to states
New Delhi: The Centre has authorised the release of an additional installment of tax devolution amounting to Rs 72,961.21 crore to the states, the Ministry of Finance said on Friday.
RBI allows digital payment firms Razorpay and Cashfree Payments to function as payment aggregators
Mumbai: Digital payment firms Razorpay and Cashfree Payments have obtained the final approval from the Reserve Bank of India (RBI) to function as payment aggregators, allowing them to onboard new merchants following a nearly one-year regulatory ban, media reports said.
Borrowing for consumer durables on the rise; EMI cards remain popular medium of credit: Survey
Mumbai: The trend in borrowing, in the last three years, has shifted from running the household to buying consumer durable such as smartphones and home appliances, according to a study.
RBI cracks whip on peer-to-peer lenders over violation of rules and misselling: Report
Mumbai: The Reserve Bank of India has instructed peer-to-peer lending platforms to halt certain activities after inspections revealed violations of rules and deceptive sales practices, Reuters reported.
Shriram Capital seeks RBI nod for Asset Reconstruction Company license
Mumbai: Shriram Capital has applied for an Asset Reconstruction Company (ARC) license from the Reserve Bank of India (RBI), Moneycontrol reported.
Centre approves early release of Rs 72,961 cr in tax devolution to states due to festive season
New Delhi: In view of the approaching festive season, the Union Government has granted approval for the disbursement of Rs 72,961.21 crore in tax devolution to State Governments for November 2023, the Ministry of Finance said on Tuesday.
'4.56% Govt Security 2023’ to be fully repaid on Nov 29
New Delhi: The '4.56% Government Securities 2023' will be fully repaid on November 29, 2023, without any additional interest after this date, the Ministry of Finance said in a communique on Tuesday.
Centre's Apr-Sept fiscal deficit widens to Rs 7.02 lakh cr
New Delhi: The fiscal deficit increased to Rs 7.02 lakh crore in April-September, up from Rs 6.43 lakh crore in April-August, according to data released on October 31.
RBI revises rules for classification and operation of investment by banks
Mumbai: The Reserve Bank of India (RBI) said on Tuesday that it has amended the existing norms for the classification, valuation, and operation of investment portfolios of commercial banks based on the feedback it received from a discussion paper.
Bengaluru: FCBD to meet under G20 Presidency
Bengaluru/UNI: The first G20 Finance and Central Bank Deputies (FCBD) meeting under the G20 Presidency will be held in Bengaluru during Dec.13-15, an official statement said on Sunday.