Bajaj Allianz Life Insurance Company (BALIC) has launched the Bima-Application Supported by Blocked Amount (Bima-ASBA) facility, becoming the first insurer in India to implement this innovative payment method. This initiative, introduced by the Insurance Regulatory and Development Authority of ...

LIC Delivers Dividend Cheque of ₹1,831 Crore to Finance Minister: LIC Chairman Siddhartha Mohanty handed over a check for Rs. 1,831.09 crore to Union Finance and Corporate Affairs Minister Nirmala Sitharaman. The Centre's share for fiscal year 2022-23 is represented by this dividend. It was ...

Fourth G20 Sustainable Finance Working Group Meeting to begin in Varanasi: The 4th G20 Sustainable Finance Working Group Meeting is held in Varanasi, Uttar Pradesh to finalize the 2023 G20 Sustainable Finance Report. The delegates also discussed the progress made by jurisdictions, IOs and relevant ...

GST rules for casinos, e-games notified: The Ministry of Finance has recently issued a significant notification outlining amendments to the Goods and Services Tax (GST) rules pertaining to online gaming and casinos. These modifications are intended to address the taxation methods used by online ...

Russia Launches Islamic Banking Pilot Program: Exploring Shariah-based Finance-- Russia is set to embark on a historic journey by launching its first Islamic banking pilot program on September 1. With a Muslim population of around 25 million people, the move hopes to capitalise on the potential of ...

Microfinance Landscape Shift: Standalone MFIs Take Lead with 40% Microlending Share: After a four-year hiatus, freestanding Microfinance Institutions (MFIs) have regained their dominance in microlending, surpassing banks. This resurgence is attributed to their recovery from pandemic-induced ...

IREDA signs MoU with Government, Revenue Target for 2023-24 set at ₹ 4,350: Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has signed a performance-based ...

New record of over 6.77 crore Income Tax Returns (ITRs) filed till 31st July, 2023: The Income-tax Department has witnessed a remarkable surge in the filing of Income Tax Returns (ITRs) for Assessment Year (AY) 2023-24. The department thanks taxpayers and tax professionals for their prompt ...

GST E-Invoice Rule Update: Companies with Turnover > ₹5 Crore Now Mandated to Generate E-Invoices: The Central Board of Indirect Taxes and Customs (CBIC) announced a substantial adjustment in India's Goods and Services Tax (GST) laws on July 28, 2023. As per the new guidelines, companies with a ...

Over 6.23 core loans sanctioned under Pradhan Mantri MUDRA Yojana in FY 2022-23: Over 6 core 23 lakh loans were sanctioned under Pradhan Mantri MUDRA Yojana (PMMY) in Financial Year 2022-23. The objective of PMMY is to offer access to institutional finance to new or existing micro units or ...