Unblocking Stalled Projects: NaBFID Proposes Reviving S4A to Breathe Life Back into Struggling Infrastructure
Rajkiran Rai G, the Managing Director of the National Bank for Financing Infrastructure and Development (NaBFID), has advocated for the re-introduction of the Scheme for Sustainable Structuring of Stressed Assets (S4A). This move is aimed at aiding the future of infrastructure finance. Introduced by the Reserve Bank of India (RBI) in 2016 and concluded in […]
Platforms on Notice: Govt Warns Against Hosting Fraudulent Loan App Ads, Calls for Immediate Action
New Delhi, December 2023 – The Indian government has taken a stringent stance against the proliferation of fraudulent loan apps, instructing social media and other online platforms to cease hosting advertisements for these apps. Union Minister Rajeev Chandrasekhar, representing the Ministry of Electronics and Information Technology, announced this directive, highlighting the government’s commitment to cracking […]
G-Sec Gateway Opens: Indian Markets Get a Liquidity Boost as RBI Allows Lending and Borrowing
In a significant development for the Indian financial market, the Reserve Bank of India (RBI) has implemented the Government Securities Lending Directions, 2023. This directive, effective immediately as of December 27, 2023, marks a major step in the central bank’s efforts to deepen the bond market in the country. The initiative for the lending and […]
No More Backroom Deals: Commerce Ministry Pushes for Open and Transparent Export Leadership Selection
The Commerce Ministry of India has recently proposed new bye-laws for the election of office-bearers for all Export Promotion Councils (EPCs), including the apex exporters’ body, the Federation of Indian Export Organisations (FIEO). This significant move is aimed at making the election process more inclusive and representative of various stakeholders. Key aspects of the proposed […]
Districts Take Center Stage: DGFT and E-Commerce Join Forces to Supercharge Local Export Powerhouses
New Delhi: In a significant move that promises to reshape India’s export landscape, the Directorate General of Foreign Trade (DGFT), an arm of the Commerce Ministry, is gearing up to sign agreements with several global e-commerce giants. This initiative is part of a broader effort to leverage the ‘Districts as Export Hubs’ initiative, aiming to […]
Streamlining E-Commerce Taxes: CBDT Clarifies ONDC’s TDS Compliance Requirements
The Central Board of Direct Taxes (CBDT) has issued clarifications regarding the applicability of Tax Deducted at Source (TDS) liability for e-retailers operating on the Open Network for Digital Commerce (ONDC). As per the recent FAQ released by the CBDT, e-commerce operators are required to deduct TDS at the rate of 1% from the gross […]
Fairness First: RBI Delays New Loan Penalty Rules, Giving Banks, NBFCs More Time to Embrace Transparency
The Reserve Bank of India (RBI) has recently extended the deadline for banks and non-banking financial companies (NBFCs) to implement modified norms for levying penal charges in loan accounts. This extension provides an additional three months, moving the deadline to April 1, 2024. Initially, these norms were scheduled to take effect from January 1, 2024. […]
E-Commerce Turnaround: Meesho Swings to Profitability after 90% Loss Reduction
Meesho, a Softbank-backed e-commerce company, has reported a remarkable shift in its financial performance, marking its first-ever profitable quarter in the financial year 2024. This significant milestone was achieved in the second quarter that ended in September 2023. Despite not disclosing the exact profit figures for the July-September period, the company’s financials show a promising […]
InCred Charges Ahead: Secures $60 Million, Joining India’s Unicorn Club
In a remarkable achievement for the Indian fintech sector, InCred has officially gained unicorn status after successfully raising $60 million in a Series D funding round. This milestone makes InCred the second company to achieve unicorn status this year, following Quick commerce platform Zepto. The Mumbai-based non-banking finance company (NBFC) InCred, known for its impactful […]
Goodbye FirstCry: Ratan Tata Makes Surprise Move, Sells All Shares In Upcoming IPO
Ratan Tata, the veteran industrialist and former Chairman of Tata Group, is set to make a significant move in the business world by divesting his entire holdings in FirstCry, a prominent omnichannel platform for baby and mother-care products. This decision comes as FirstCry prepares for its Initial Public Offering (IPO). Tata initially invested in Brainbees […]