The Reserve Bank of India (RBI) on Friday announced penalties on Union Bank of India and Transactree Technologies for not following certain regulatory rules. Union Bank of India has been fined Rs 63.6 lakh for not complying with some parts of the Banking Regulation Act, 1949, and for not following...

Edelweiss Asset Management announces the launch of altiva SIF, a new brand identity for its Specialized Investment Funds (SIFs) business. altiva SIF will offer differentiated investment solutions across equity, hybrid and fixed income categories, catering to evolving investor needs. The fund house is amongst the first few to foray into...

In what may be termed as an important judgement for Goods and Services Tax (GST) registered taxpayers, the Supreme Court on May 19, 2025, allowed using input tax credit (ITC) to pay the mandatory pre-deposit amount required for filing an GST litigation case appeal. In technical terms, the Supreme Court...

The micro, small and medium enterprise (MSME) ministry is collaborating with the Patent Office of Denmark as part of the Support for Commercialisation of IP programme (MSME-SCIP) to facilitate the acquisition of intellectual property rights (IPR), including technology by MSMEs. The ministry, through its Intellectual Property Facilitation Centres (IPFCs), will...

Nearly half of India’s automobiles remain uninsured, posing significant risks to accident victims and the broader insurance ecosystem, despite the availability of data on vehicle insurance, reported TOI citing Girija Subramanian, CMD of New India Assurance, the country’s largest general insurer. “Only 52% of vehicles are insured. Although the data...

ASK Hedge Solutions, part of the Blackstone-backed ASK Asset & Wealth Management Group, has achieved a significant milestone with its ASK Absolute Return Fund surpassing Rs 1,500 crore in Assets Under Management (AUM). Launched in February 2024, with a minimum investment requirement of Rs 1 crore, the fund has gained...

The Central Board of Direct Taxes (CBDT) has notified the Income Tax Updated Return form, commonly called the ITR-U form. The new form has been notified as Budget 2025 amended the rules for filing ITR-U. The new filing rules are effective from April 1, 2025. As per the new rules,...

NEW DELHI: Restrictions imposed by India on certain Bangladeshi goods will help the domestic ready-made garment industry, particularly MSMEs, to enhance their competitiveness, according to experts. On May 17, India restricted imports worth $770 million from Bangladesh, covering nearly 42 per cent of bilateral imports. Key goods like garments, processed...

New Delhi: IDBI Bank on Monday said LIC Nominee Director Raj Kumar has ceased to hold the board seat with effect from May 18. “Raj Kumar has ceased to be LIC Nominee Director on the Board of IDBI Bank Limited with effect from May 18, 2025 on completion of his...

The AUM growth in B30 cities in India has outpaced the growth in the T30 cities in the past 5 years. The equity cult and financialization of assets as a theme is picking up pace, it is evident as data shows that the mutual funds are moving beyond the top...

The Income Tax Department has notified the income tax return forms for FY 2024-25 (AY 2025-26), incorporating the changes in tax laws announced in the July 2024 budget. However, taxpayers will have to wait for the release of the ITR filing e-utilities on the income tax portal to file their...

The Trade Receivables Discounting System (TReDS) platform has made notable progress in facilitating credit access to micro, small, and medium enterprises (MSMEs) in the country. However, industry experts and stakeholders believe that significant expansion is still required to further increase its reach and effectiveness. According to them, the TReDS platform...