Guidelines Financial News

Mint explains: The Real Estate (Regulation and Development) Act 2016 aims to regulate transactions, so that projects are completed and handed over in time. MahaRERA has now issued more orders for developers—on delivery dates, maintenance of bank accounts, parking space and complaint redressal. It kept the registration of 1,750 lapsed projects under suspension due to delays.

Banks have written off loans worth Rs 9.90 lakh crore in the last five financial years, Parliament was informed on Tuesday. During 2023-24, banks loan write off was at Rs 1.70 lakh crore, as against Rs 2.08 lakh crore in the previous fiscal, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. Write-off was highest at Rs 2.34 lakh crore during 2019-20, which came down to Rs 2.02 lakh crore in the following year and to Rs 1.74 lakh crore in 2021-22. As per the RBI guidelines and policy approved by banks' boards, NPAs, including those in respect of which full provisioning has been made on completion of four years, are removed from the balance-sheet of the bank concerned by way of write-off, he said.

₹5 crore of borrowing remaining through non-convertible debentures (NCDs). According to disclosures filed on its website, Tata Sons had no loans from banks and other financial institutions as of 30 June, as against ₹18,809 crore or 44% of its total liabilities in the same period last year. The move towards becoming debt-free is being seen as a step towards avoiding getting listed under a Reserve Bank of India (RBI) guideline, because loans from financial institutions is one of the metrics assessed by the regulator when it looks at classifying upper-layer NBFCs such as Tata Sons.

Sebi on Monday proposed a uniform timeline to ensure timely credit and trading of bonus shares in a bid to streamline the process to enable T+2 trading of such shares after the record date. The current ICDR (Issue of Capital and Disclosure Requirements) rules prescribe overall timelines regarding the implementation of the bonus issue, however, there are no specific timelines for credit of bonus shares and trading of such shares, from the record date of the issue.

BJP on Sunday responded to demands from various quarters, including Congress leader Rahul Gandhi, to declare the devastating Wayanad landslides a national disaster, saying that such a concept doesn't exist under Central government guidelines, a policy unchanged since the UPA government's tenure. Senior party leader V Muraleedharan posted on his Facebook page a 2013 Parliament document in which then Minister of State for Home, Mullappally Ramachandran, stated that «there is no provision to declare a natural disaster as a national disaster.» «The concept of a 'national disaster' does not exist under the Central government's guidelines, a fact that has been the case since the UPA government's tenure. This was explicitly stated by the then Union Home Minister, Mullappally Ramachandran, in a response to a question in the Lok Sabha on August 6, 2013,» said Muraleedharan, who is also a former Union Minister. «While there is no official designation of 'national disaster', each disaster is addressed according to its severity,» he said, «and urged people not to attempt to create baseless controversies during this time of disaster.»

Railway Minister Ashwini Vaishnaw on Friday informed the Rajya Sabha that there have been cases where passengers tried to secure accommodation under the emergency quota using fake authority letters purporting to be from high dignitaries and railway officials. He made this statement in response to inquiries from Samajwadi Party MP Javed Ali Khan about the misuse of the emergency quota by touts. «Some instances of attempts to get accommodation released out of emergency quota on the authority of fake letter heads of high dignitaries and some railway officers have come to notice,» Vaishnaw said in his written reply. «With a view to prevent malpractices and to confirm genuineness of requests, checks are conducted from time to time. Also, instructions are issued at regular intervals to prevent unscrupulous elements from misusing the system,» he added. According to the railway minister, approximately 36 per cent of the berths or seats earmarked under emergency quota were utilised on an average during the financial year 2023-24.

Sunil Dahiya, a South Asia analyst at CREA, said, “This ongoing issue highlights the need for stronger regulations and a focus on reducing emissions. Using better technology and data can help control pollution.” He added, “India’s standards are more lenient than WHO’s, which can lead to long-term exposure to harmful particles. Research shows that even short-term exposure to PM2.5 in India poses significant health risks, suggesting that air quality standards need to be updated to better align with international guidelines to prevent diseases.”

land parcel in Akurli area of Mumbai’s western suburb Kandivali for Rs 210 crore to a Pune-based company Rucha Group’s real estate development entity Blueprintify Properties. Interestingly, the company has sold the property for less than its ready reckoner value or over Rs 223.58 crore. The said land parcel falls under No Development Zone and is bounded by the Sanjay Gandhi National Park on the east and south side. The Mahindra Group itself also has a real estate development company Mahindra Lifespace Developers.

Debadatta Chand, CEO & MD, Bank of Baroda, says the bank’s guidance on the NIM has been 3.15% plus-minus 5 bps. And the good part of this quarter, the June quarter results is that we maintain the NIM vis-a-vis the last year. The last full year NIM was 3.18 and if you look at the June quarter, it is 3.18. So, while there is cost pressure at the industry level, we have managed NIM positively. You have mentioned this 12-14% credit growth guidance for FY25. Considering the growth that you have witnessed this quarter, what is giving you the confidence that we will see a pickup? Debadatta Chand: In the current quarter also we slightly calibrated the advance growth based on the deposit growth. And if you look at the segment of the advances, like the retail is growing more than 20%, the agri and MSME is slightly less than 10%, the corporate was at 2.9%. But within the corporate segment also, the co-corporate which is non-institutional, the growth is 12%. Currently the pipeline is very strong for July onwards and there is a strong pipeline because we wanted to calibrate the corporate advance in line with the deposit which is again possibly better this quarter. Now we have good control over deposit costs. So, I think the guidance of 12-14% that we are giving is quite achievable. The budget is also supportive in terms of MSME growth and in that scenario and earlier also, we have demonstrated that we are growing higher than 12-13%. So that is achievable.

NPCI) will enforce updated FASTag regulations designed to enhance toll payment processes and reduce traffic congestion at toll plazas. These new guidelines will impact FASTag users significantly.

Delhi Government has introduced new safety guidelines for educational institutions. This move aims to address critical safety lapses and prevent similar incidents in the future.

UPSC training institutes in Old Rajinder Nagar, touted as India’s IAS hub. Shreya Yadav from Uttar Pradesh, Tanya Soni from Telangana, and Navin Dalwin from Kerala passed away after the basement of the building housing the coaching center was flooded following heavy rain. Consequently, the Municipal Corporation of Delhi (MCD) sealed the basements of 13 coaching centers in Old Rajinder Nagar for violating norms, underscoring the urgent need for stringent supervision of India’s burgeoning coaching industry.

Zika virus — 3 from Karnataka and 10 from Maharashtra — were reported till July 22 this year, Minister of State for Health Anupriya Patel told the Rajya Sabha on Tuesday. In 2023, 2022, and 2021, the country had seen 23, 2, and 234 cases of Zika virus.

income tax returns (ITRs). However, taxpayers should choose the appropriate form based on the guidelines instructed by the Tax Department. A person can file income tax returns using seven primary forms listed in the Income Tax Act 1961: ITR forms 1, 2, 3, 4, 5, 6, and 7. Depending on your income source and taxpayer type, you must select one of these forms when filing income tax returns.

education ministry on Monday notified guidelines for implementation of bagless days for classes 6-8 and making learning in schools more joyful, experiential and stress-free. The guidelines, developed by PSS Central Institute of Vocational Education, a unit of the National Council for Educational Research and Training (NCERT), were released on the fourth anniversary of the new National Education Policy (NEP), 2020.

UPSC aspirants at a coaching centre in Delhi, Rajya Sabha Chairman Jagdeep Dhankar said on Monday that coaching has become «virtually commerce.»

ICICI Bank, India's second largest private sector lender, beat Street expectations with a 14.6% rise in first-quarter net profit at Rs 11,059 crore, buoyed by strong treasury income. Analysts polled by Bloomberg had forecast on average a net profit of Rs 10,517 crore. The lender recorded a net profit of Rs 9,648.20 crore a year ago.

government securities is expected to rise between ₹4 lakh crore and ₹5 lakh crore, with the banking regulator proposing to revise norms on the computation of Liquidity Coverage Ratio (LCR), said officials from rating companies and bank analysts. The LCR norms are tweaked to ensure banks are resilient in case they face a run-off on their deposits amid increased technology use that enables fund transfer 24x7.

insurers in India are working on ways to navigate new guidelines from the Insurance Regulatory and Development Authority of India (IRDAI), which mandate paying surrender value from the first year on non-participating policies.

ICMR), in collaboration with the National Health Authority (NHA) and WHO India, has released 32 new Standard Treatment Workflows (STWs) for treating common and serious diseases under five specialties namely Cardiothoracic Vascular Surgery, Paediatric Cardiology, Interventional Radiology, Neuro Surgery, and Orthopaedics on 25 July, Thursday.These 32 new standards are an addition to the already existing 125 STWs previously released across 23 specialties in 2019 and 2022 by the ICMR.The ICMR introduces evidence-based STWs to enhance medical care consistency in India. These guidelines, created by national experts, promote optimal treatment practices, rational drug use, and efficient healthcare services. Each concise one-page document outlines key actions for physicians, ensuring uniform healthcare standards in India's public healthcare system.

polymer fume fever cases underscores the importance of using cookware responsibly and being aware of potential risks associated with nonstick coatings. In the past twenty years, according to a Washington Post report, poison centers across the United States have documented over 3,600 suspected cases of a condition known as «polymer fume fever.» This flu-like illness has been associated with the fumes released from certain nonstick coatings used in cookware.