She attacked the Congress-led UPA government for mismanaging the economy which the Modi administration set right. Finance Minister Nirmala Sitharaman on Wednesday said India enjoys an investment grade rating and she does not see a rating downgrade because of higher spending. Replying to a debate on Finance Bill 2021 inContinue Reading
The use of crowdfunding websites create additional risk and the year 2021 will see a lot of regulatory effort channelled towards virtual assets, a senior SBI official said on Monday. Addressing a virtual ‘AML/CFT Conference 2020,’ Sujit Kumar Varma, SBI’s DMD (Corporate Accounts Group), said trade-based money laundering remains aContinue Reading
The rule mandates that businesses with over ₹50 lakh monthly turnover should pay at least 1% of their GST liability in cash. Traders’ body CAIT on Friday urged Finance Minister Nirmala Sitharaman to defer the implementation of Rule 86B in GST, whereby businesses with over ₹50 lakh monthly turnover willContinue Reading
The Reserve Bank of India (RBI) further reduced the key interest rate or the repo rate by 40 bps on Friday, after a yet another out-of-turn Monetary Policy Committee (MPC) meeting as the COVID-19 pandemic induced lockdown continues, albeit with calibrated relaxations. The central bank also extended the loan repaymentContinue Reading
The Union Finance Ministry has asked banks to explain why several branches are closed. “In view of the novel coronavirus lockdown, the government is monitoring the functioning of bank branches across the country. Accordingly, the daily data on the number of bank branches (of all scheduled commercial banks in theContinue Reading
