Finance

You still can’t file I-T returns without Aadhaar number

Supreme Court has indefinitely extended indefinitely the Aadhaar linking deadline for mobile numbers and bank accounts, but doesn’t specifically mention I-T returns. Photo: Pradeep Gaur/Mint New Delhi: The income tax (I-T) website still bars taxpayers from filing their returns without an Aadhaar number, in spite of a Supreme Court order that indefinitely extended the deadline for mandatory linking of the unique ... Read More »

After years of shunning fixed maturity plans, Franklin Templeton re-enters the segment

Among the top 15 fund houses in terms of fixed income assets, 78.9% of Franklin Templeton’s fixed income assets lie in securities rated AA & lower; the most in such companies. What is special about Franklin Templeton Asset Management (India) Ltd launching a new fixed maturity plan (FMP)? On 20 March, it launched a new fund called Franklin India Fixed ... Read More »

Will Sebi’s latest plan to curb algo-trading backfire?

The silver lining in the latest algo-trading proposal is that it isn’t as bizarre as, say, the two-queue proposal Sebi flirted with for years to bring parity between sophisticated traders and less sophisticated traders. Photo: Aniruddha Chowdhury/Mint The Securities and Exchange Board of India (Sebi) is considering a proposal to impose a congestion charge to curb algorithmic traders who send large numbers ... Read More »

GE Says Finance Woes Pushing Company Toward Low End of Forecast

(Bloomberg) — General Electric Co. is heading toward the bottom of its profit forecast for the year as the manufacturer faces challenges in its finance operations, a top executive said Wednesday. Following a large charge against an insurance portfolio and plans to shrink the GE Capital division, the company’s earnings are “probably more at the lower end” of the range, ... Read More »

PNB’s LoU story spoils plot for import finance

A majority of Indian lenders are entangled in the Rs 11,300-crore fraud through issuances of unauthorised LoUs by PNB officials in connivance with firms owned by diamond merchant Nirav Modi. KOLKATA | MUMBAI: Import finance, crucial for ensuring critical supplies for India’s industrial and consumer needs, faces serious restrictions as banks clamp down on issue of letters of undertaking (LoUs) after ... Read More »

India’s financial destiny is at the crossroads: Uday Kotak

This is a problem created over several years, cobwebs have settled, everything was justified on the grounds of public interest. As Asia’s richest banker, Uday Kotak has an interesting job at a very interesting time in India’s financial history. The executive vice-chairman of Kotak Mahindra BankBSE 0.67 %leads the country’s most admired lender at a time when about $200 billion is stuck in ... Read More »

Bitcoin Set for Worst Week Since 2013 as Crypto Sell-Off Intensifies

Cryptocurrencies plunged on Friday, with several of the largest falling by more than 20 percent and Bitcoin sliding below $8,000 (roughly Rs. 5.12 lakhs) and headed for its worst week since 2013, as worries about a regulatory clampdown globally sent investors scrambling to sell. The slump in prices this week means the total market value of cryptocurrencies is down to $385 ... Read More »

GST Collections Rise To Rs. 86,703 Crore In December, Says Finance Ministry

As many as 56.30 lakh GSTR 3B returns have been filed for December, Finance Ministry said. New Delhi: Halting two months of decline, the GST collections gathered momentum in December, rising to Rs. 86,703 crore. “Total revenue Collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs.86,703 crores till January 24 2018,” the ... Read More »

Crisil Ups Outlook On 18 PSU Banks After Capital Infusion Plan

The government would pump Rs. 88,139 crore into 20 PSU banks before end-March (Representational image) Mumbai: Rating agency Crisil on Friday revised upwards the outlook on 18 state-run banks to ‘stable’ from ‘negative’ and also reaffirmed their ratings following the announcement of capital infusion worth Rs. 88,139 crore by the government. The agency said move will strengthen the balance sheets ... Read More »

Small Finance, Payments Banks To Offer Atal Pension Yojana To Subscribers

There are 11 Payments Banks and 10 Small Finance Banks that have received license from RBI. New Delhi: The Central government on Friday said “Payments Banks and Small Finance Banks” will offer social security scheme Atal Pension Yojana (APY) to their subscribers. “To strengthen the existing channels of APY distribution, it is felt that these new Payments Banks and Small Finance ... Read More »