Economy News

France to allow Indians to make UPI payments in rupees: Modi

Prime Minister Narendra Modi has said that India and France have agreed on usage of the Unified Payments Interface (UPI) mechanism and it will begin from the Eiffel Tower, which means Indian tourists can pay in rupees to visit the world famous site.

Jul 14, 2023

28% GST to be levied on full value of online gaming, horse racing, casinos

In a setback to online gaming companies, the GST Council on Tuesday decided that there will be a 28 per cent GST levy on full value of gaming, horse racing, and casinos.

Jul 11, 2023

GST Council to meet on Tuesday, likely to take a call on taxing heavy utility vehicles, horse racing, online gaming

With the GST Council, headed by Union Finance Minister Nirmala Sitharaman, all set to meet on Tuesday, it is expected to take a call on various issues like taxing online gaming, high-end vehicles, as well as horse racing and casino activities.

Jul 10, 2023

Digital wallets transactions value to surpass $16 trillion by 2028

The total value of digital wallets transactions is forecast to rise from $9 trillion in 2023 to $16 trillion in 2028, a growth of 77 per cent, a report showed on Monday.

Jul 10, 2023

GST network brought under anti-money laundering law to plug tax evasion

Aiming to plug tax evasion through fake billing, Centre has brought the GST Network (GSTN) under the purview of Prevention of Money Laundering Act (PMLA).

Jul 8, 2023

Flood of FPI flows into India continues

The flood of FPI flows into India continues with Rs 21,943 crore of inflows (including bulk deals) till 8th of this month, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Jul 8, 2023

E-commerce growth in India to hit $150 bn by 2026: Report

The e-commerce transaction value in India is likely to rise from $83 billion in 2022 to nearly $150 billion in 2026 at a 16 per cent compound annual growth rate, a report showed on Wednesday.

Jul 6, 2023

The Reserve Bank of India has announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited in bank accounts or exchanged by September 30

76% of total Rs 2,000 denomination notes in circulation returned to banks in these two forms: RBI

The Reserve Bank of India (RBI) on Monday said that as much as 76 per cent of the total number of Rs 2,000 notes in circulation have been returned to banks.

Jul 4, 2023

Conversion of BMTC buses to EVs: Taiwan investors hold talks with Karnataka minister MB Patil

Karnataka's Large and Medium Industries Minister M.B. Patil on Friday said that Taiwanese companies have expressed interest to collaborate with the state Karnataka in converting diesel-run BMTC buses to electric buses.

Jul 1, 2023

Essential Points to Note Prior to Renewing Your Car Insurance

Motor insurance is mandatory by law, having your car insured is important. Moreover, you can continue to access its benefits and coverage for yet another policy year

Jun 24, 2023

Union Minister of State for Commerce & Industry, Nirmala Sitharaman.

Sitharaman lists key financial inclusion measures at Paris summit

Finance Minister Nirmala Sitharaman on Thursday listed out some key measures undertaken by the Central government to ensure financial inclusion.

Jun 23, 2023

People walk past the Bombay Stock Exchange (BSE) building in Mumbai,

Indian stock markets reach close to 52 week high levels

With falling inflation, and healthy economic numbers, the two Indian stock markets opened and closed at a higher note on Friday and are near their 52 week high levels.

Jun 17, 2023

US Fed pauses interest rate hikes after 10 consecutive increases

The US Federal Reserve has left the interest rate unchanged for the first time after March 2022, ending a stream of 10 consecutive hikes to curb inflation.

Jun 15, 2023

New Delhi: Congress senior leader Jairam Ramesh

Congress questions RBI's new policy to settle loans of "wilful defaulters"

Congress on Wednesday slammed the Centre after the Reserve Bank of India (RBI) brought in a policy that allows banks and finance companies to settle loans of accounts classified as "wilful defaulters" by entering into compromise settlements or technically writing off the loans, and asked why it has changed its own rules with regards to frauds.

Jun 14, 2023

As expected, RBI's Monetary Policy review June 2023 remains status quo: Expert

While the rate inaction was expected by almost everyone, there was some debate on whether a more qualified stance may now be forthcoming, writes Suyash Choudhary of Bandhan Asset Management

Jun 9, 2023

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