Guidelines Financial News

disbursements at Rs 1.46 lakh crore in financial year 2023-24. According to Fintech Association for Consumer Empowerment (FACE), the number of loans disbursed grew by 35 per cent to over 10 crore borrowings in FY24. It can be noted that the Reserve Bank has been public with its concerns on some of the practices adopted by such lenders, and has also formulated draft guidelines for their operations. «The digital lending sector is responsibly driving ahead with a sharp focus on customer-centricity, compliance, risk management and sustainable business models,» FACE's chief executive Sugandh Saxena said in a statement

The Reserve Bank of India (RBI) issued a circular on 7 June, relaxing overseas investment regulations and clarifying ambiguities for wealthy Indians, business families, and startups seeking to invest in foreign securities, funds, and companies. 

Hyundai, which plans to raise Rs 25,000 crore through the Indian stock market by selling a 17% equity stake in local unit, has raised concerns about the «frequent changes» in government policy, stating that such moves can impact both investment flows into India and the speed of technological advancements. Having invested nearly Rs 30,000 crore in India since starting operations in 1996, the leading car manufacturer from Korea stressed the importance of stable policies. They believe that consistent government guidelines are crucial for confidently making the necessary technological upgrades mandated by the government, ToI reported. «Another challenge that the industry is facing is frequent changes in policies, which make it difficult for auto industry stakeholders not only to ensure adherence but also commit investments,» the company noted in its Draft Red Herring Prospectus submitted to market regulator SEBI. «Overall policy stability and transparency will be required going forward to ensure smooth technology transition and localisation in the country,» it added.

presidential debate between President Joe Biden and former President Donald Trump is set to air live on Thursday, June 27 at 9/8c. Hosted by CNN, the event will take place in Atlanta studios without a studio audience, ensuring a focused exchange between the candidates.

referral process, the Union Health Ministry has for the first time issued interdepartmental referral guidelines for hospitals to facilitate better communication and cooperation. The 'Guidelines for Inter-Departmental Referral (within hospitals)' stress that referrals should be initiated promptly as and when patients require specialised care, diagnostic evaluations or consultations beyond scope of admitting department. The referral for a consultant's opinion should only be written by consultants and that post graduate residents should not close referrals on their own without discussing with their consultants, the guidelines released on June 7 stated. Consultant on call should review the referral record attended to by his team the previous day, a step which will help improve patient care and enhance learning of residents.

June 16 across various exam centres in India. This examination, originally scheduled for May 26, was postponed due to the recently concluded Lok Sabha elections. The exam is the first of three stages in the selection process for officers of the Indian Administrative Service (IAS), Indian Foreign Service (IFS), Indian Police Service (IPS), among others. Arrangements in Place for Candidates

Buying life insurance gives a policyholder and his or her family a financial protection against unforeseen circumstances. But, what if the policyholder commits suicide? Is the insurer liable to pay the sum assured to the nominee?

The Insurance Regulatory and Development Authority of India (IRDAI) has announced comprehensive reforms aimed at enhancing the overall customer experience in the life insurance sector. Detailed in the newly-released Master Circular on Life Insurance Products, these reforms focus on increasing transparency, accessibility, and policyholder satisfaction.

Bank fixed deposit rates: The Reserve Bank of India (RBI) recently announced raising the threshold for bulk fixed deposits to Rs 3 crore from the earlier Rs 2 crore. So, now your FDs worth up to Rs 3 crore will be considered as retail FD and above that mark will be categorised as bulk FD. Earlier, FDs of Rs 2 crore were considered as bulk deposits.

The first session, for General Studies Paper 1, will be held from 9:30 am to 11:30 am. The second session for General Studies Paper 2 (CSAT) from 2:30 pm to 4:30 pm. Both of these sessions will consist of objective-type questions. General Studies Paper 1 will include 100 questions while General Studies Paper 2 will have 80 questions. Each paper holds a maximum of 200 marks.

By By Aditya Pareek Business Development Head, Race Eco Chain Ltd The growing demand for resources and the increasing challenges of waste management have put the recycling industry in the spotlight. As the world adopts principles of circularity and sustainability, the demand for recycling sector is to transform from an unorganized sector into an organized with efficient pillar of the circular economy is growing. ESG & EPR Regulations India's plastic packaging waste supply chain is largely unorganized, with 70% of it lacking formal structure. The nation generates an estimated 26,000 tonnes of plastic waste daily. Government regulations, such as Extended Producer Responsibility (EPR) for Producers, Importers, and Brand Owners (PIBOs), will require the use of at least 30% recycled materials in packaging by 2025. This push for sustainability has significantly shifted the industry, driving unprecedented demand for recycled materials. Packaging waste in India is projected to increase by 30% by 2030. Additionally, SEBI's Business Responsibility and Sustainability Reporting (BRSR) guidelines mandate that companies ensure their suppliers comply with ESG (Environmental, Social, and Governance) standards, starting with Fortune 500 companies and eventually extending to all organizations.

Canadian Defense Minister Bill Blair says his country looks on track to meet NATO’s military spending guideline by 2030

National Highways Authority of India (NHAI) has scrapped the requirement for developing wayside amenities along new highways and expressways by road contractors and concessionaires. Instead, NHAI will seek separate bids from companies for developing such amenities. The step is aimed at attracting global expertise for creating wayside amenities (WSAs) in the country with a stronger focus on design and product innovations to boost return on investment while scaling up the experience of highway users. Under the existing provision, a highway contractor or concessionaire is responsible for developing WSAs, placing an additional responsibility on contractors to build, run and maintain such facilities.

Insurance stocks were in buzz on Thursday, rising up to 3% after the Insurance Regulatory and Development Authority of India (IRDAI) significantly increased surrender values for non-linked products in the initial periods affecting insurers such as LIC, HDFC Life Insurance, and Max Life Insurance as they derive up to 52% of FY24 total APE from this segment. Shares of LIC, HDFC Life and SBI Life were up by 0.66% at Rs 1,005, 2.65% at Rs 587.50 and 0.02% at Rs 1,454.65 respectively around 10:30 on BSE today.

Following the mandate by UP RERA requiring promoters to obtain an OC/CC before offering possession letters to all allottees, the Confederation of Real Estate Developers Association of India NCR (CREDAI-NCR) has reiterated the critical importance of the long-standing regulation concerning the approval process for Occupation Certificates (OC) and Completion Certificates (CC) in the real estate industry.

website provides tax calculators that let users determine their tax obligations under various regimes depending on their income and allowable deductions, which can aid in decision-making. This tool assists in determining which regime offers individual taxpayers the most benefits.Before finishing your tax return, you must reconcile your income. That’s why this is important:Here’s how to successfully balance your income step-by-step:In India, Tax Collected at Source (TCS) is a crucial component of tax filing.

infrastructure projects would hurt both the financiers and viability of the proposed development initiatives, seeking about a dozen such amendments to a draft Mint Road circular that seeks to de-risk bank exposure to long-gestation assets.

Taxpayers often get confused about taxation rules pertaining to under-construction properties in India. The under-construction or pre-possession period refers to the duration between the start of a home loan and completion of the construction of the property under consideration. As per the income tax laws, tax benefits on loan for an under-construction property can be claimed in 5 equal installments starting from the financial year in which the homebuyer gets possession of the house.

With the ‘Virtual Asset User Protection Act‘ set to take effect on July 19, the Financial Services Commission (FSC) has issued new guidelines detailing when non-fungible tokens (NFTs) should be considered virtual assets.

Mint explains: With the advent of 5G, ultra-high speed networks will be used by not only people owing mobile phones but also by internet of things (IoT), devices that will talk to each other, better known as machine-to-machine communication. And sooner rather than later satellite communications will come directly to our phones. With this backdrop, having spare capacity of telecommunication identifier (TI) resources is crucial for meeting any requirement that could come up in the years ahead.

Meta also offered admins the ability to create up to 5,000 member communities that chat in real time, but it previously required group members to be part of the same Facebook Group.The new feature is likely to be useful for organisations, schools and other private groups, helping them to interact in a much more co-ordinated and structured way.Explaining how communities on Messenger will work in a support page, Meta states, “You can create a dedicated community on Messenger to connect with people with shared interests. These communities are managed by community admins, and can be found and joined by anyone on Messenger.