The Comptroller and Auditor General ( CAG) has asked the Finance Ministry to consider having an online system for processing customs refunds along the lines of the GSTN system to make it more efficient. The official auditor has also flagged ‘inordinate delays’ in the implementation of the module for daily updation of exchange rate and asked to make the system… Continue reading CAG asks Finance Ministry to put in place online Customs refund system
Category: Finance
US debt crossing ‘Lakshman Rekha’ trigger storms
The IMF projected global growth to decelerate from 3.4 % in 2022 to 2.8 % in 2023 with risks heavily skewed to the downside and high chances of a hard landing. Growth could remain at 3% in 2024-28. Anaemic growth in 2023 stems from aggressive monetary policy to curb inflation, the impact of deteriorating financial… Continue reading US debt crossing ‘Lakshman Rekha’ trigger storms
India’s first bank to provide 24×7 video banking service. Check details
‘AU Small Finance Bank’s foray into round-the-clock Video Banking represents a paradigm shift in modern banking. Even on holidays and weekends, AU’s dedicated team would ensure face-to-face, human-centric interactions, underscoring the bank’s commitment to enhancing nationwide banking experiences. We empower our customers in this digital epoch by elevating accessibility and convenience to unparalleled heights,’ said… Continue reading India’s first bank to provide 24×7 video banking service. Check details
Honda Cars India and Bajaj Finance join hands to offer easy car finance schemes
Honda Cars India Ltd. (HCIL) has joined hands with Bajaj Finance Ltd., a leading financial services group in India, to offer easy and affordable finance options for its customers. The partnership will enable Honda customers to buy Honda Amaze, Honda City and the upcoming new SUV; Honda Elevate with attractive car finance schemes. The partnership aims… Continue reading Honda Cars India and Bajaj Finance join hands to offer easy car finance schemes
Bajaj Finance partners with new partner ICICI Lombard General Insurance to offer motor insurance policies – ET Auto
These policies provide extensive coverage against various risks and damages to vehicles. Here are some of the key features and benefits offered by ICICI Lombard two-wheeler and car insurance policies: Offers comprehensive coverage: Get complete coverage for the insured vehicle as well as for the third party. Offers own damage cover: These policies cover damages… Continue reading Bajaj Finance partners with new partner ICICI Lombard General Insurance to offer motor insurance policies – ET Auto
India Shelter Finance files for ₹1,800 crore IPO paper with Sebi
Affordable housing finance company India Shelter Finance, which is backed by Westbridge Capital and Nexus Venture Partners, has filed preliminary papers with the capital markets regulator Sebi to raise ₹1,800 crore through an initial public offering (IPO). The IPO comprises a fresh issuance of equity shares worth ₹1,000 crore by the company, and an offer for sale of… Continue reading India Shelter Finance files for ₹1,800 crore IPO paper with Sebi
Electronica Finance snags $15 mn from European investor
Electronica Finance Ltd, which provides loans to micro, small and medium enterprises, has raised $15 million (Rs 124 crore) in debt from impact investor Global Climate Partnership Fund (GCPF). The financing provided under the deal will be for six years, the Pune-based non-banking financial company (NBFC) said Monday. Electronica plans to use the funds to… Continue reading Electronica Finance snags $15 mn from European investor
14,000 appeals from taxpayers over disputed GST levies pending in first quarter: Finance Ministry
The total number of pending appeals from taxpayers over central GST levies saw a huge spike in the first quarter (Q1) of the 2023-24. The number stood at 14,000 in Q1 of the current financial year compared to a total of 11,899 in the entire FY 2022-23. This was the data provided by MoS Finance,… Continue reading 14,000 appeals from taxpayers over disputed GST levies pending in first quarter: Finance Ministry
Tesla’s finance chief Kirkhorn unexpectedly steps down
Tesla finance chief Zachary Kirkhorn has stepped down, surprising analysts who considered the company veteran of 13 years as a possible successor to CEO Elon Musk. The world’s largest electric vehicle automaker did not give a reason for the departure. Vaibhav Taneja, 45, replaced Kirkhorn as of Friday and will also retain his role as… Continue reading Tesla’s finance chief Kirkhorn unexpectedly steps down
Adani Energy Solutions secures $1 bn financing for HVDC Link project in Mumbai
The credit facility is part of the $700 million revolving project finance initiative tied up in October 2021 for AESL’s ongoing transmission assets portfolio. This unique platform infrastructure financing framework ensures consistent access to capital for future projects in AESL’s transmission portfolio by utilizing funds paid back by other projects within the portfolio. The banking… Continue reading Adani Energy Solutions secures $1 bn financing for HVDC Link project in Mumbai