RSS Feed
Twitter
3:10 PM
Blogger
Chhath Puja celebrations will continue until November 16, resulting in temporary bank closures in areas like Patna and Ranchi. Throughout November, multiple regional holidays will be enforced across India, so it's advisable for customers to check their local bank holiday schedules before visiting branches. However, digital banking will still be operational, ensuring clients can manage transactions online despite physical branch shutdowns during this festive season.from Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/68FmBQt
The Income Tax Department initiated reassessment proceedings against a man after receiving information about transactions associated with a pharma company, described in the information available to the tax authorities as the man’s proprietary concern. The bank account records showed debit entries of Rs 1,27,62,500 and credit entries of Rs 18,85,000.
The World Bank currently defines the international extreme poverty line at $3.00 per person per day in 2021 purchasing power parity (PPP) terms. According to the World Poverty Clock, extreme poverty may be considered eliminated when the poverty headcount ratio falls below 3%. With the World Bank estimating India’s extreme poverty rate at about 2% in 2024, India can, on this measure, be considered to have crossed that threshold.
Paytm's payment segment has secured initial approval from the Reserve Bank of India for its prepaid payment instruments. This milestone has propelled One 97 Communications' stock to soar past the Rs 1,900 mark, reflecting strong market performance. Analysts predict robust revenue growth stemming from the enhanced merchant discount rate framework for UPI transactions, with global brokerage Bernstein naming Paytm as a leading growth prospect in finance.
The Reserve Bank of India is contemplating a ban on private equity firms holding majority stakes in multiple non-banking financial companies. The planned regulations aim to distinguish between controlling stakes and smaller investments, with the latter facing less scrutiny. Growing foreign investment interest in India's financial sector includes significant deals by major firms such as Blackstone and Temasek.
