Consequences Financial News

The Reserve Bank of India (RBI) has issued guidelines to enhance customer options and flexibility in credit card issuance by card networks.

As a wealth or financial advisor, you know there is more to charity than just writing a check. If you’re looking to strengthen your relationships with high-net-worth and ultra-high-net-worth clients, join the Edward Charles Foundation’s upcoming webinar on March 21.

income tax refund for FY 2020-21 (AY 2021-22). In an order dated March 1, 2024, the Central Board of Direct Taxes (CBDT) has said that these individuals can get their income tax refund by April 30, 2024. Hence these individuals, who wish to check the status of their refund, should check their email inbox or keep a close watch for any intimation notice email from the income tax department. This intimation notice will have the details of the tax refund, if any, payable to them. After an ITR is processed at the Centralised Processing Centre (CPC) within a specified period, the income-tax department would issue an intimation notice under section 143(1) of the Income-tax Act, 1961. If an individual has received an intimation notice for the same, it means that their filed ITR has been successfully processed. It is usually followed by the credit of refund amount, if any.

₹800 to reach a new all-time high of ₹65,000 per 10 grams in the national capital, driven by robust global trends, according to HDFC Securities. In the previous session, the precious metal had concluded at ₹64,200 per 10 grams. Spot gold prices (24 carats) in the Delhi markets are trading at ₹65,000 per 10 grams, up by ₹800, taking bullish cues from the overseas markets.

In a major decision, the Reserve Bank of India barred IIFL Finance to stop disbursing gold loans with immediate effect on Monday. The central bank said that the decision had been taken after noticing ‘material supervisory concerns’ that were observed in the gold loan portfolio of the firm.

non-resident Indians, who don't own an Indian phone connection, one UAE fund decided to use a fake phone number to file for a tax exemption with Income Tax authorities only to be rebuffed. According to chartered accountants, the fake phone number — 9999999999 — is regularly used by non-residents to file their returns. In the case of the Abu Dhabi Investment Authority (ADIA), the number was flagged by tax authorities who doubted the veracity of the firm, having used the caller identification app Trucaller to find the 10-digit number marked as a spam caller.

₹2.3 trillion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 10% to reach ₹3.08 trillion by 2026, according to the annual media and entertainment (M&E) report by Ficci and consulting firm EY. However, the growth of ₹17,300 crore last year was half of the ₹37,100 crore growth that took place in 2022, mainly due to headwinds in advertising during the first half of the year, the report added. Except for television, all M&E segments grew in 2023, but the share of traditional media (television, print, filmed entertainment, live events, out of home, music, radio) stood at 57% of M&E sector revenues, down from 76% in 2019.

Sunshine Protection Act aims to establish daylight saving time as the permanent standard time. As of now, the Sunshine Protection Act, which proposes to establish daylight saving time as a permanent standard, has not passed a vote in the House. Consequently, clocks will still advance by one hour at 2 am on March 10, as per the report.

Supreme Court Monday chided Tamil Nadu minister Udhayanidhi Stalin for his remarks against Sanatana Dharma. A division bench led by Justice Sanjiv Khanna verbally remarked that Stalin had abused his rights under Articles 19(1)(a) (freedom of speech and expression) and 25 (freedom of conscience and free profession, practice and propagation of religion) of the Constitution by passing such remarks. Stalin had sparked a furore last year by saying that Sanatana Dharma divides people in the name of caste and religion.

₹500 to a maximum of ₹40 lakh, the actual qualifying amount is likely to be considerably lower. It’s essential to bear in mind that exceeding a manageable repayment capacity can result in financial challenges. Before determining the personal loan amount, utilise online personal loan eligibility calculators provided by numerous lenders to obtain a preliminary estimate of the potential loan amount you could qualify for.

Gemini AI chatbot regarding Prime Minister Narendra Modi. Chandrasekhar criticized the AI's response, deeming it a direct violation of IT rules and criminal code provisions. In response, the government sought an explanation from Google.

Udhayanidhi Stalin has ‘abused his rights’, the Supreme Court on Monday slammed Tamil Nadu Sports Minister and DMK leader over his comments on 'Sanatana Dharma' and said that he should refrain from such comments as he is "not a layman but a minister". Stalin has approached the apex court, seeking the consolidation of multiple FIRs registered against him in various states for his remarks. Represented by senior advocate Abhishek Manu Singhvi, Stalin requested the court to merge FIRs from Uttar Pradesh, Karnataka, Bihar, Jammu and Kashmir, and Maharashtra.

At least 10 people, including hotel staff and customers, were injured after an explosion at the city’s popular eatery Rameshwaram Cafe on Friday. CCTV footage has emerged that allegedly shows the suspect carrying a handbag that allegedly had the bomb.

Piyush Goyal affirmed India's successful navigation through critical issues, safeguarding the interests of the nation's farmers and fishermen, at the 13th World Trade Organisation (WTO) Ministerial Conference. Emphasisng the importance of securing their well-being, Goyal stated, «I think that India has successfully delivered on the issues that were our role and has achieved the outcomes that we expected.» The Union Minister underscored the primary objective of shielding the agricultural and fisheries sectors from any adverse consequences. «Our objective was that our farmers and our fishermen should not face any kind of harm, no crisis should come, and in that, we successfully did not allow any such decision to be taken that would harm any farmer or fishermen,» he added.

Bank holidays in March 2024: Today, March 2 which is a Saturday and there might be confusion among people regarding if Banks will be open today. However, as it is the first Saturday of this month, banks will remain open today. Saturdays are typically not designated as bank holidays, except for the second and fourth Saturdays of each month.

political turmoil, numerous voices have advocated for boycotting products, services, brands and even nations as a mark of protest. Take the BDS — boycott, divestment, sanctions — movement, which wants to pressure Israel to change its policies towards Palestinians through various forms of economic and political actions. It first gained international attention in the early 2000s. It has targeted global business entities such as Nestle, Burger King, Disney, Siemens, HP, Puma, Carrefour and others for supporting Israel, covertly or overtly. Many governments have also taken this route. Last year, Turkish parliament withdrew Coca-Cola and Nestle products from restaurants in parliament for supporting Israel. India has done things more subtly. It used BJP's social media arm to mobilise people to boycott Chinese products after border skirmishes, and to boycott the Maldives as a tourist destination after a minister made uncharitable remarks about India.

A new study from TIAA adds to the body of knowledge on financial stress and its influence on mental health.

Earlier this week, Bitcoin broke out of a sideways trend that started in early February. The cryptocurrency surged toward $64,000 in the first days of the week and has since hovered around $63,000.

NTPC on Friday said the group's total installed capacity crossed the 75 GW mark with the completion of trial operations of the second unit of a 660 MW thermal power project in Jharkhand. «Unit-2 of 660 MW capacity of North Karanpura Super Thermal Power Project, (3 x 660 MW) has successfully completed trial operation and consequently included in the installed capacity of NTPC Ltd,» it said.

Delegating well is the six-pack of management: widely desired and harder to achieve the older you get. In theory, handing appropriate decisions off to people lower down the corporate ladder means greater satisfaction all round. Bosses get more time to concentrate on the issues that really deserve their attention.

Reserve Bank of India (RBI) has now released a draft framework for banks to follow. As per the framework, banks will be mandated to disclose those climate-related risks which have a bearing on their financial stability. While observing that climate-related risks are one of the emerging risk and are expected to significantly impact them, these entities play an important role in financing the transition towards an environmentally sustainable economy.