Category: Finance

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

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

‘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 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

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

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

Reliance Industries’ annual report said the telco has largely procured gears from Swedish company Ericsson and Finnish company Nokia to deploy its 5G network, said the report. ‘RJIL tied up its first-ever Swedish Export Credit Agency (EKN) supported facilities of USD 2.2 billion equivalent making it the largest cover ever provided by EKN for a… Continue reading Reliance Jio gets $2.2 bn from Swedish export credit agency to finance 5G rollout

There are early signs of a rotation under way, with equity benchmarks beating local-currency bonds since the beginning of July. And traders are already starting to chase the rally, with Bank of America Corp. reporting that emerging-market equities have absorbed $4.1 billion in the week to Aug. 2, adding to inflows in the previous three… Continue reading Emerging market stocks are having a moment as growth bets return