Rising Tide of Complaints: RBI Takes Action Against Credit Bureaus
The Reserve Bank of India (RBI) has recently taken significant steps to address the increasing number of customer complaints against Credit Information Companies (CICs). This move reflects the RBI’s commitment to ensuring the accuracy and reliability of credit reporting in India, which plays a crucial role in the country’s financial system. Key Developments and RBI’s […]
elangana Takes Off: Adani Group Rockets in with Data Centre and Aerospace Park
The Adani Group, a prominent Indian multinational conglomerate, has recently taken a significant step towards expanding its operations in the state of Telangana. This move involves the establishment of a data center and an aerospace park, as confirmed by discussions between the group’s representatives and the Telangana government. Key Highlights of the Adani Group’s Expansion […]
India’s Strategic Maneuver to Shift Global Supply Chains from China
New Delhi, 2024 – India’s economic landscape is undergoing a transformative shift, with the Budget 2024 heralding a new era. Poised to challenge China’s supply chain dominance, India is emerging as a formidable contender in the global market. The country’s strategic focus on diversifying supply chains and bolstering its electronics manufacturing capability plays a central […]
EU Solidarity: France and Germany Pledge 100 Million Euros to Support India’s AMRUT Urban Infrastructure Project
The recent announcement by France and Germany to provide a €100 million loan for India’s Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 marks a significant development in international cooperation for sustainable urban development. This financial assistance is a substantial commitment towards enhancing urban infrastructure in India, particularly focusing on sewerage and septage management […]
Policy Push: India’s PLI Greenlights Growth for Ola Electric, Boosting Domestic EV Manufacturing
la Electric’s recent achievement in obtaining the Production Linked Incentive (PLI) certification marks a significant milestone in the Indian electric vehicle (EV) industry. This recognition places Ola Electric at the forefront of the nation’s push towards sustainable and innovative transportation solutions. The PLI scheme, introduced in 2021 by the Indian government, aims to boost domestic […]
Investment, Debt, and Growth: Decoding India’s Economic Pursuit Against China
India and China, two of the largest and fastest-growing economies in the world, have often been compared to each other. While China has emerged as a global economic superpower, India is rapidly catching up. However, several factors are hindering India’s ability to match China’s economic prowess. Historical Context and Growth Trajectories China’s Economic Reforms: China […]
HUL Hit by Rs 447.5 Crore GST Demand: Expats Salaries, Credit Disallowance Under Spotlight
Hindustan Unilever Ltd (HUL), a prominent FMCG company in India, has been served with Goods and Services Tax (GST) demands and penalties totaling Rs 447.5 crore by authorities from five states. This significant financial demand includes issues such as the disallowance of GST credit and taxes on salaries, including allowances paid to expatriates. The major […]
Supreme Court Ruling Redefines Benami Law: A New Era for Property Transactions
The recent ruling by the Supreme Court of India on the Benami Transactions (Prohibition) Act has substantial ramifications for the legal and financial landscape in the country. This Act, first introduced in 1988, was significantly amended in 2016 to strengthen its provisions. However, the Supreme Court’s decision has introduced a new dimension to the interpretation […]
Election bonanza: Parties ready to splash Rs 1 lakh crore, boost Q4 growth
As the 2024 Lok Sabha elections in India approach, the anticipated expenditure by political parties is projected to surpass Rs 1 lakh crore, a figure that could significantly stimulate economic growth in the fourth quarter of the year. This massive spending is a reflection of the high stakes involved in the elections and the competitive […]
RBI mandates yearly assessment of inactive bank accounts in India
The Reserve Bank of India (RBI) has recently issued guidelines for banks to conduct annual reviews of accounts that have been inactive for over a year. This directive is part of a comprehensive set of guidelines on unclaimed deposits and inoperative accounts. Specifically, the RBI has asked banks to focus on accounts where there have […]