BUSINESS
GST council needs to decide on compensation cess by October as loan repayment nears completion
With the GST compensation loan expected to be paid by October, the council will have to take the call on the levy, the legality of which could be called into question once the debt is cleared
BUSINESS
Centre meets bank chiefs today to address credit woes of textile sector
Finance and textiles secretaries to chair meeting with managing directors of SBI, PNB, BoB and others to focus on green financing, MSME credit ratings and subsidy bottlenecks
BUSINESS
Vedanta Aluminium CEO calls for retaliatory tariff as duty concerns weigh heavy
India’s aluminium trade deficit with the US has more than doubled – from 90 kilo tonnes in FY20 to 210 KT in FY25, Rajiv Kumar tells Moneycontrol in an interview, demanding the United States scrap the tariff
BUSINESS
Government remains wary of granting bank licences to big corporates
Concerns over self-lending risks and systemic instability remain key hurdles; senior official says corporates want both licences and control — “both cannot work”
BUSINESS
Drop in tax collection not a worry, expect 5–6% rise in September, says govt source
The government has pegged mid-year mop-up at Rs 11.34 lakh crore, driven by inflows from the second advance tax instalment which is due September 15
BUSINESS
Andhra Pradesh launches Space Policy 4.0, Eyes Rs 25,000 cr investment with twin space cities
The two space cities proposed under the scheme—Lepakshi and Tirupati— will focus on innovation and manufacturing, respectively,
BUSINESS
Govt plans to offload around 4% stake in NLC India via OFS this fiscal
After successful OFS in March 2024, DIPAM eyeing a second tranche, depending on market conditions
BUSINESS
NBFCs may get tax relief on senior citizens’ FD interest, GST exemption on co-lending fees
The government is, however, unlikely to concede on other NBFC demands, including reduction in the Rs 20 lakh SARFAESI threshold
BUSINESS
Govt panel finalises revamped eKYC norms; regulators to roll out risk-based framework soon
The committee's recommendations include a common KYC form, risk-based graded eKYC norms, and KYC portability, meaning customers will no longer need to undergo the same process multiple times across different financial institutions.
BUSINESS
No income tax notice issued to Srikanth Shinde, say sources
Notices under scrutiny cycle sent based on exemption-linked risk parameters; Shinde not among recipients
BUSINESS
Govt nudging big NBFCs to seek banking licence amid need for more banks
By 2047, the government is pushing for the creation of large-scale banks capable of competing globally — including a vision for at least two Indian banks to be among the world’s top 10.
BUSINESS
Govt plans LPG loss compensation for OMCs via excise duty hike proceeds
Compensation plan for OMCs for under-recoveries in LPG is in its final stages; to be funded via excise duty hike kitty
BUSINESS
FinMin eyes control of National Health Exchange to rein in inflated hospital claims; IRDAI likely to be new regulator
Move aims to plug leakages in health insurance claims; FinMin finds hospitals are inflating bills based on policy limits
BUSINESS
IDBI Bank strategic sale likely to conclude by October: Govt sources
The assurance comes as the Inter-Ministerial Group (IMG) on disinvestment met on July 9 to discuss the draft Share Purchase Agreement, a crucial milestone before final approvals are sought from higher authorities.
BUSINESS
Govt plans Rs 45,000 crore capital raise by PSBs in FY26; SBI to lead with Rs 20,000 crore QIP
Financial Services department has authorised a stake sale in Life Insurance Corporation (LIC) through OFS, the senior government source informed.
BUSINESS
FATF flags state-sponsored terrorism as global risk, echoes India’s concerns on Pakistan
First-ever reference to state-backed terror in FATF report reinforces India’s 2022 national risk assessment of money laundering and terrorist financing findings on Pakistan
BUSINESS
GST Council meeting likely only after monsoon session as key GoM reports awaited
The GoM on rate rationalisation is still to agree on the proposed three-rate structure, as the issue of retaining or doing away with the 12% slab remains unresolved
BUSINESS
PSU banks disinvestment moves ahead, govt panel to appoint advisers today
The government is looking at diluting stakes in Bank of Maharashtra, Indian Overseas Bank, UCO Bank, Central Bank of India, and Punjab and Sind Bank
BUSINESS
India’s policy response to trade restrictions has focused on market diversification: FM Sitharaman
The minister was speaking at the BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting held in Rio de Janeiro, Brazil.
BANKS
Inter-ministerial group to meet today, to discuss IDBI Bank's strategic sale
The financial bids are expected to be invited from shortlisted suitors soon, a government official said
BUSINESS
India unlikely to enter India-US trade deal at any cost, pact must be fair, strategic: CII President Rajiv Memani
CII President Rajiv Memani calls for GST 2.0 reforms, expanded PLI schemes beyond electronics, and urgent action on pharma APIs to safeguard India’s economic growth and competitiveness
BUSINESS
New Development Bank needs to play catalytic role in unlocking private sector capital: FM
Nirmala Sitharaman was speaking at the 10th Annual Meeting of the Board of Governors of NDB in Rio de Janeiro, Brazil.
BUSINESS
Govt invites new merchant bankers, transaction advisors for RCF, NFL OFS
Move marks revival of eight-year-pending stake sale in fertiliser PSUs; OFS could follow within a month of appointments if market conditions permit
BUSINESS
India–US mini trade pact likely to leave tricky sectors for later: CII President
This phased structure allows negotiators to deliver immediate commercial benefits while leaving room for deeper consensus-building on complex sectors.
