Bangladesh and India Launch Trade Transactions in Rupees Bangladesh and India have begun trading in rupees, hoping to lessen dependency on the US dollar and strengthen regional currency and commerce. This bilateral trade agreement marks a significant milestone for Bangladesh, moving beyond the ...

After Merger, HDFC to vault into ranks of world's most valuable banks: According to Bloomberg, after the tie-up of HDFC Bank Ltd and Housing Development Finance Corp, the lender would rank fourth in equity market capitalization. It's valued at about $172 billion. With the merger likely ...

NHAI to develop 10,000 kms of ‘Digital Highways’ in India by 2025: The National Highways Authority of India (NHAI) is preparing to develop around 10,000 km of optic fiber cable (OFC) infrastructure across India by the financial year 2025. An overview of the news This move is aimed at ...

Net direct tax collections at Rs 16.6 lakh crore in 2022-23, up 160% from 2013-14: The Finance Ministry has revealed time series data demonstrating a huge growth in net direct tax revenues, which increased by 160% from Rs 6,38,596 crore in 2013-14 to Rs 16,61,428 crore in 2022-23. Gross direct tax ...

Pradhan Mantri MUDRA Yojana (PMMY): In the last eight years, the Pradhan Mantri MUDRA Yojana (PMMY) has sanctioned 41 crore loans totaling 23.2-lakh crore, according to the Ministry of Finance. The scheme has been a huge success in terms of promoting entrepreneurship, with 68% of accounts under ...

RBI penalises Mahindra Finance, Indian Bank over disclosure of interest rates to borrowers: The Reserve Bank of India (RBI) announced penalties for noncompliance with regulatory norms against Mahindra & Mahindra Financial Services Ltd, Indian Bank, and Muthoot Money Limited.  Mahindra & ...

Finance Bill 2023 passed in Lok Sabha: Without debate, the Lok Sabha passed the Finance Bill 2023, which implements tax proposals for the upcoming fiscal year. The passage of the Bill occurred amid Opposition uproar over the Adani controversy. More About The Finance Bill 2023: The Bill ...

Indian economy to grow at 7%; inflation set to moderate: Finance Ministry-- Indian economy is expected to grow at 7 per cent in FY23 despite global headwinds while retail inflation would moderate in line with wholesale inflation which fell to a 25-month low in January, the Finance Ministry said on ...

Pakistan receives $700 mln funds from China: Ishaq Dar, Pakistan's Finance Minister, announced that his country has received $700 million from the China Development Bank. The deposit comes as Pakistan has been struggling with its external debt and has barely enough dollars to cover less than three ...

FM Nirmala Sitharaman presented Budget 2023-24: Finance Minister, Nirmala Sitharaman presented Union Budget for 2023-24 in Parliament on 1st Feb 2023. Seven priorities: Inclusive development, Reaching the last mile, Infrastructure and investment, Unleashing the potential, Green growth, ...