The all-powerful Goods and Services Tax (GST) Council, at its upcoming meeting on September 9, is expected to provide a roadmap for the compensation cess that will likely continue “well into” 2025-26 (FY26), and also discuss whether it should eventually be replaced with a tax or a cess, say government officials. An internal assessment, these … Read more
Bajaj Housing Finance (BHFL) was set up in 2017 as a 100% subsidiary of Bajaj Finance (BFL). BHFL’s IPO is coming on September 9, 2024 with a price band of Rs 66-70/ share Issue size is Rs 6,560 cr Rs 3,560 cr fresh capital Rs 3,000 cr offer for sale BFL is diluting 10-11% through … Read more
The Reserve Bank of India (RBI) may grant non-banking financial companies (NBFCs) access to the public tech platform for frictionless credit (PTPFC). Earlier this week, RBI Governor Shaktikanta Das announced that the PTPFC would be rebranded as the Unified Lending Interface. He compared its potential impact on lending to the transformation brought by the Unified … Read more
The growth in production of eight key infrastructure sectors slowed down to 6.1 per cent in July this year due to a decline in the output of crude oil and natural gas, according to official data released on Friday. The growth rate, however, is up from 5.1 per cent in June. The growth of core … Read more
Prime Minister Narendra Modi on Friday during the keynote speech at a special session of Global Fintech Fest 2024 held in Mumbai said that there is festivity in economy and markets. PM further said that the fintech revolution is everywhere. He said there was a time when people used to get amazed by our cultural … Read more
State Bank of India (SBI) will strive to become the most valued financial institution and also increase its net profit, the lender’s new Chairman, C S Setty said on Wednesday as he asserted that this is India’s decade. Soon after taking charge of the nation’s largest bank, Setty assured employees that all efforts would be … Read more
Foxconn, a major global electronics contract manufacturer, has received offers from multiple states in India to establish large-scale industrial facilities. Telangana has proposed providing 2,000 acres for a ‘Foxconn City’, similar to the company’s existing sites in Taiwan and China, according to Duddilla Sridhar Babu, the state’s IT and industries minister. Additionally, sources told ET … Read more
As part of the strategic partnership with Apple, Airtel has announced shutting it’s music service Wynk. The Wynk users will transition to Apple Music with preferential offers and pricing. Wynk is estimated to have more than 100 mn users This number is based on app downloads and hence may be grossly over stated. Paid users … Read more