In this case the man who received the cash gifts formalised the transactions through gift deeds and deposited the money into his bank account. (Image for representative purpose only) You get a lot of gifts in the form of cash and you deposit the amount in your bank account. But, what if the Income Tax…
MUMBAI: Private banks’ Q2 FY27 credit and deposit growth got a significant lift from RBI’s concessional dollar-rupee swap facility for FCNR(B) deposits. Banks mobilised billions of dollars and deployed part of the funds through overseas branches, boosting headline balance-sheet growth.The gap between headline and underlying growth was significant. Axis Bank’s advances grew 22.7%, but 18.8%…
The warning comes as more than 1 billion barrels have been drawn from commercial oil stockpiles since the Middle East crisis began The global oil market is entering the winter with a much thinner safety cushion after more than 1 billion barrels were taken out of commercial stockpiles during this year’s supply disruptions, industry executives…
US President Donald Trump US President Donald Trump on Monday (local time) signed an executive order aimed to ease the burden of high diesel prices on farmers, truckers and other businesses, as fuel costs continue to put pressure on Republicans ahead of the November midterm elections.Trump announced the move during a campaign stop in Grand…
Currently, banks and certain nominated agencies are required to pay 3% GST when importing precious metals. (Image for representative purpose only) Government entities such as MMTC and the State Trading Corporation of India could soon be brought within the goods and services tax (GST) framework for imports of gold and other precious metals.The proposal is…
The economy may have managed to sail through rough waters till now, but for how long without being hit? India has managed to maintain its tag of being the fastest growing major economy with its GDP growth beating estimates despite the US-Iran war posing major risks. For an economy that is dependent on the world…
The Kurnool District Consumer Disputes Redressal Commission has directed the car manufacturer and its dealer to refund the ex-showroom price. (Image for representative purpose only) Buying a car is a dream, but what if you repeatedly face issues after purchase? In one such case the Kurnool District Consumer Disputes Redressal Commission has asked the car…
Domestic airlines’ operating profit to fall 10-15% this fiscal amid higher fuel costs, airspace curbs: Crisil NEW DELHI: The government is weighing a fresh mechanism to stabilise aviation turbine fuel (ATF) prices as the prolonged West Asia crisis pushes up fuel costs and puts increasing pressure on airline finances.A senior government official said the Centre…
Union Minister for [Information and Broadcasting, Ashwini Vaishnaw announcing the recent cabinet decisions The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved a series of measures spanning support for small and medium enterprises, integrated transport planning and logistics, and a resolution marking PM Modi’s completion of 25 years of continuous public service.The…
Market benchmark indices Sensex and Nifty ended sharply higher on Tuesday, extending their previous session’s rally, as a decline in crude oil prices below the USD 100 per barrel mark and buying in bank stocks and Reliance Industries added to investors’ optimism. The 30-share BSE Sensex jumped 685.34 points, or 0.95 per cent, to settle…