RBI vetting process for IDBI Bank stake sale in advanced stage: Dipam Secy

The Reserve Bank of India’s vetting process to ascertain potential bidders for IDBI Bank is at an advanced stage, Tuhin Kanta Pandey, secretary to the Department of Investment and Public Asset Management (DIPAM), told Moneycontrol. The Centre, which owns a 45.48 percent stake in IDBI Bank, and the state-owned Life Insurance Corp of India, which holds 49.24 percent, together plan to offload 60.7 percent out of their total holdings in the lender. Read more here

Take a look at these key events

Today
World Embryologist Day
Q1 results: Adani Green, Adani Energy Solutions, Tech Mahindra, AU Small Finance Bank, United Breweries, Canara Bank, VST Industries, Cyient, DLF, Go Digit, Mahanagar Gas, MPhasis, PNB Housing, Ramco Cement
Arvind Kejriwal's judicial custody to end
Prakash Ambedkar to launch yatra over quota issue
Deadline for Centre to decide on allotment of office space to AAP
India’s Paris 2024 Olympics schedule kicks off
Paris Olympics: Archers' Deepika Kumari and Tarundeep Rai's individual ranking roundsTomorrow
Q1 results: Bandhan bank, Indigo, Indus Ind Bank, Powerfrid, Equitas Bank, Cipla
Vedanta may consider interim dividend
25th Kargil Vijay Diwas
PM Modi to visit Ladakh's Drass to mark Kargil Vijay Diwas
Manish Sisodia’s custody hearing in excise policy case
Dharavi rehabilitation: Kurla land survey
Trump to meet Netanyahu in Florida
Paris Olympics opening ceremony

Construction, infrastructure stocks rally up to 8% buoyed by Budget announcements

Shares of Ashoka Buildcon, KNR Constructions, Ramky Infrastructure and other construction and infra development-related firms surged up to eight percent on July 24, a day after Finance Minister Nirmala Sitharaman announced significant funds for several major infrastructure projects, particularly in road connectivity. Read more here

Old vs new (simplified): Which income tax regime will help you save more on tax outgo?

Tax outgo will be lower in the old, with-exemption regime if you claim multiple, higher deductions; primarily, home loan interest or house rent allowance (HRA). For low-income earners and others with fewer deductions, the new, simplified regime will score. Read more here

How your SIPs would be taxed after Budget 2024's capital gains tax rate changes

With the increase in tax on the Short Term Capital Gains (STCG) and Long Term Capital Gains (LTCG) on equity-oriented funds announced in the Union Budget, a Systematic Investment Plan (SIP) of Rs 50,000 for 60 months in equity funds would result in a higher capital gains tax outgo of Rs 94,095 against Rs 77,456 at present. Read more here

How to optimise Section 80D deductions at the time of filing tax returns

Salaried employees who have been unable to claim tax deductions they are eligible for during financial year 2023-24 can still avail of these tax breaks at the time of filing income tax returns before July 31. Read on

Zerodha co-founder Nikhil Kamath's Budget day pic is viral. 'Subtle way of flexing biceps,' says internet

Zerodha co-founder Nikhil Kamath shared a photograph on Instagram on Tuesday that was intended to capture his reaction to the Union Budget 2024. However, the image quickly garnered attention for an entirely different reason—Kamath's physique. Read here