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Finance

Rs. 1,60,122 crore gross GST revenue collected for March 2023: Govt data

New Delhi: The gross GST revenue collected in the month of March 2023 is Rs. 1,60,122 crore of which CGST is Rs. 29,546 crore, SGST is Rs. 37,314 crore, IGST is Rs. 82,907 crore (including Rs.  42,503 crore collected on import of goods) and cess is Rs. 10,355 crore (including Rs. 960 crore collected on import of goods).

Piyush Goyal lauds GeM crossing Gross Merchandise Value of Rs. 2 lakh crore in 2022–23

New Delhi: In the financial year 2022-2023, procurement of goods and services from government portal Government e Marketplace  (GeM) has crossed the Rs 2 lakh crore mark, which is a remarkable achievement, said Union Commerce and Industry Minister Piyush Goyal, in Mumbai on Saturday.

New scheme for women: Mahila Samman Savings Certificates made available in Post Offices

New Delhi: The Ministry of Finance issued the Gazette Notifications for Mahila Samman Savings Certificates, 2023 and has been made available in 1.59 lakh post offices with immediate effect.

Union Bank of India sets up mechanism for India-Malaysia trade in INR

New Delhi: Public sector Union Bank of India has operationalised the mechanism to allow Indian and Malaysian traders to invoice and settle the trade in Indian Rupee (INR).

Indian Govt hikes interest rate on small savings schemes by up to 70 basis points for Q1, you will earn more interest in these schemes now

New Delhi: The government on Friday announced hike in interest rates on various small savings schemes such as Senior Citizens Savings scheme, Sukanya Samriddhi Account and National Savings Certificate by upto 70 basis points for April-June quarter (Q1) of financial year 2023-24.

Prices of cooking gas cylinders slashed

New Delhi/UNI: The oil marketing companies on Saturday slashed prices of cooking gas cylinders about Rs 92 per cylinder.

Indore gets connected with Sharjah through direct flight

New Delhi: A direct flight between Indore and Sharjah on Friday was flagged off today by Civil Aviation Minister Jyotiraditya Scindia.

Zee enters one-time settlement with Standard Chartered Bank for Siti Networks loan issue

Mumbai: Zee Entertainment Enterprises Ltd (ZEEL) on Thursday announced that it has reached a one-time settlement agreement with Standard Chartered Bank in connection with the credit availed by Siti Networks, a subsidiary of the Essel Group, media reports said.

Authum Investments completes takeover of Reliance Home Finance

New Delhi: Authum Investments and Infrastructure has completed the takeover of Reliance Home Finance, following the Supreme Court's ruling against Bombay HC's order from December 2022, according to media reports.

India announces Foreign Trade Policy 2023; targets $2 trillion goods and services exports by 2030

New Delhi: India on Friday introduced a "dynamic and adaptable" Foreign Trade Policy (FTP) that will remain in effect indefinitely from April 1 with the objective to attain $2 trillion in goods and services exports by 2030, while also promoting trade settlements in rupees and following the worldwide principle of not exporting duties.

India's forex reserves grow $5.98 billion to $578.78 billion

Mumbai: India's foreign exchange reserves jumped $5.98 billion to $578.78 billion as on March 24, 2023, Reserve Bank of India (RBI) data showed on Friday.

NTPC registers highest ever power generation of 400 BU in FY23, a growth of 10.80%

New Delhi/IBNS: State-run power generator NTPC has registered the highest-ever output of 400 BU in FY23, a growth of 10.80% vis-à-vis the previous year, according to an official statement.

Air India launches Premium Economy class on select flights

New Delhi: Air India introduces an all-new Premium Economy experience for travellers, offering a superior cabin product, world-class inflight services, and added on-ground convenience.

Several varieties of cauliflower, chillies cultivated in Assam

Tezpur: Locals have cultivated a large variety of vegetables at an agricultural facility in the Pabhoi region in Biswanath of Assam.

Index of eight Core Industries moves up to touch 6 pct in February 

New Delhi: The combined Index of Eight Core Industries (ICI) increased by 6.0 per cent (provisional) in February 2023 as compared to the Index of February 2022.

Canara Bank becomes the first public sector bank to tie up with NPCI Bharat Bill Pay to process cross-border inbound Bill Payments from Oman

New Delhi: Last year, the Reserve Bank of India, permitted cross-border inbound Bill Payments to be received under the rupee drawing arrangement (RDA) through the Bharat Bill Payment System (BBPS).

UIDAI seeds 10.97 million Aadhaars with mobile numbers in February, 93% more than January: Centre

New Delhi: Over 10.97 million mobile numbers were seeded in Aadhaar following requests from residents in the month of February 2023, a jump of more than 93 per cent over the previous month, the Indian government said on Friday.

Airtel and India Post Payments Bank launch WhatsApp Banking Services

New Delhi:  Telecommunication major Bharti Airtel and India Post Payments Bank (IPPB) on Friday announced the launch of WhatsApp Banking Services for  IPPB customers, enabling them to access  banking services on their mobile phone.

Bandhan Bank adds 50 branches to its network in a single day

Mumbai/Kolkata: Bandhan Bank, one of the fastest-growing banks in the country, announced the opening of 50 branches on the last day of the financial year.

Kolkata: US Consulate, KIIT Technology Business Incubator join to host three-day Regional Startup Network workshop

Kolkata: The US Consulate Kolkata collaborated with KIIT Technology Business Incubator to host a three-day 'Regional Startup Network (RSN)' advanced workshop at the American Center, starting on Thursday, to build entrepreneurial capacities of select startups from India, Nepal, Bhutan, and Bangladesh.

Vee Technologies’ Venkat Umakanth is the SMB CTO of the year

Bengaluru: IT veteran Venkatraman Umakanth, Senior Vice President, Vee Technologies has been named as the ‘Small and Medium Business CTO of the Year’ at the IT4SMB summit that highlighted the changing landscape of technology and its transformational power held at Bengaluru recently.

Essar Project chosen Vertex Hydrogen project by the UK govt

Mumbai/London: Essar Energy Transition’s (EET) Vertex Hydrogen project has been chosen as part of one of the two hydrogen plants that will bolster the UK’s hydrogen economy.

Agri exports grow 6.04% y-o-y in last 10 months to $43.37 billion

New Delhi: India’s agricultural export registered an increase of 6.04% to $43.37 billion during April 2022 to January 2023 compared to the same period in the previous fiscal.

Russia's Rosneft and Indian Oil Corp ink deal to boost oil supply and diversify grades

Moscow/IBNS: Rosneft, the Russian energy company, revealed a new agreement Wednesday to increase its oil exports to India, in an effort to find alternative markets due to the strained relations with Western countries over the Ukraine conflict.

Govt to borrow Rs 8.8 lakh crore in the first half of FY24

New Delhi: The government has decided to borrow Rs 8.8 lakh crore via bonds from the market in the first half of the financial year 2023-24 starting April 1.

Jindal Steel and Power approaches Delhi HC against Odisha coal block auction

Delhi: Jindal Steel and Power has approached the Delhi High Court against the grant of an Odisha coal block alleging that it was “unfairly” prevented from filing a higher bid, media reports said.

Rs 158 crore TDS collected from transfer of Virtual Digital Assets

New Delhi/IBNS: Tax deducted at source on payments made upon transfer of Virtual Digital Assets (VDA) stood at Rs 157.9 crore as of March 20 for FY23, according to the Ministry of Finance.

ZEEL settles dispute with IndusInd Bank making way for Zee-Sony merger

Mumbai: The merger of ZEEL and Sony has moved a step forward as Zee Entertainment has settled the dispute over the dues with private sector lender IndusInd Bank, media reports said.

Public sector banks recovered 14% of written-off loans in last 5 years: FM Sitharaman

New Delhi: Public sector banks could get back only 14 percent of the written-off loans in the last five years ending March 2022, Parliament was informed on Tuesday.

Jindal Stainless buys 49% stake in Indonesia-based nickel pig iron company

Mumbai: Jindal Stainless Ltd (JSL) has entered into a collaboration agreement (Collaboration Agreement) with New Yaking Pte. Ltd. in Indonesia to ensure the long-term availability of nickel.