New Delhi, Mar 18 (KNN) The government has clarified that there is no specific legal definition of High Net Worth Individuals (HNIs) under the Income-tax Act, 1961, with taxation of individuals based on income slabs regardless of the source of income. Minister of State for Finance Pankaj Chaudhary said incomeContinue Reading
New Delhi, Apr 1 (KNN) Crisil Ratings on Wednesday projected bank credit growth to moderate to around 13 per cent in FY27 from an estimated 14 per cent in FY26, amid ongoing tensions in West Asia. The rating agency indicated that asset quality has likely bottomed out, with gross non-performingContinue Reading
New Delhi, Mar 9 (KNN) Finance Minister Nirmala Sitharaman on Monday said that banks provide zero-balance savings account facilities to ensure financial inclusion and universal access to banking services. Replying to a question in Lok Sabha, the minister said Basic Savings Bank Deposit Accounts (BSBDAs), including accounts opened underContinue Reading
New Delhi, Mar 18 (KNN) The government has strengthened the institutional credit framework for agriculture and allied sectors through a series of policy measures aimed at improving access to timely and affordable finance, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. KeyContinue Reading
New Delhi, Apr 4 (KNN) The Corporate Affairs ministry is expected to soon notify a revised audit regime aimed at aligning India’s auditing framework with global benchmarks. The move is also likely to resolve long-standing differences between the country’s two key audit regulators. Officials on Wednesday said the ministry recentlyContinue Reading
New Delhi, Mar 9 (KNN) The Reserve Bank of India (RBI) has proposed revisions to its framework on customer liability in unauthorised electronic banking transactions, aiming to expand protection for users and speed up complaint resolution in digital fraud cases. The central bank issued draft amendment directions on March 6,Continue Reading
New Delhi, Mar 18 (KNN) The government and the Reserve Bank of India (RBI) have strengthened measures to curb fraudulent loan apps and enhance consumer protection in the digital lending ecosystem, Minister of State for Finance (MoS) Pankaj Chaudhary said in a written reply in the Rajya Sabha. The RBIContinue Reading
