New Delhi, Apr 13 (KNN) The Income Tax Department has introduced simplified tax forms under the Income Tax Act, 2025, effective April 1, 2026, aimed at improving ease of compliance and streamlining processes for taxpayers. Under the revised Income Tax Rules, 2026, the erstwhile Form 49AA has been replacedContinue Reading
New Delhi, Apr 30 (KNN) The Secretary, Department of Financial Services (DFS) M. Nagaraju held a high-level meeting to comprehensively review the vision and strategy of four public sector insurance companies. The DFS is a key department under the Ministry of Finance and acts as nodal authority for issues relatedContinue Reading
New Delhi, May 20 (KNN) The Reserve Bank of India (RBI) has issued final directions dispensing with the mandatory Investment Fluctuation Reserve (IFR) requirement for banks that already maintain a capital charge for market risk and adhere to the revised norms governing classification, valuation, and operation of investment portfolios. WhatContinue Reading
New Delhi, Jun 5 (KNN) The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Thursday unanimously decided to keep the policy repo rate unchanged at 5.25 percent, while retaining a neutral monetary policy stance. The decision was taken during the 61st MPC meeting held from JuneContinue Reading
New Delhi, Jun 25 (KNN) The Reserve Bank of India (RBI) on Wednesday released draft guidance on regulatory principles for model risk management, citing the rapid adoption of artificial intelligence, machine learning, and automated decision-making systems across the financial sector. The central bank said that while such technologies improve efficiencyContinue Reading
New Delhi, Jul 14 (KNN) The Reserve Bank of India (RBI) is likely to keep policy interest rates unchanged until at least October 2026, while India’s economy is expected to grow at a steady 6.6-6.8 percent in FY27 despite global uncertainties, according to Bank of Baroda’s FY27 Economic Outlook. RBIContinue Reading
New Delhi, Jul 29 (KNN) Public sector banks (PSBs) recorded a significant improvement in financial health during FY26, with record profits, stronger deposits and gross non-performing assets (GNPAs) declining to a multi-decade low, the Finance Ministry said. PSBs’ Gross NPAs Fall to Multi-Decade Low The gross NPA ratio of PSBsContinue Reading
