Retail Gold Prices: While international prices skyrocketed, gold prices were retailing at new record highs in a few locales. In a post on goodreturns, Colin Shah, MD of Kama Jewelry, also forecasted a hike in tariffs. “Gold prices in the international market have risen to levels of $1880/Oz as compared to $1815/Oz on February 27, […]
Retail Gold Prices Hit New Record Highs, As Global Prices Zoom Read More »
Retail Inflation: Retail inflation for the month of February 2023 was 6.44%, broadly in line with expectations and somewhat less than the 6.52% recorded for the month of January 2023. To keep inflation within the target range set by the central bank, the Reserve Bank may yet decide to increase benchmark lending rates by 25
Retail Inflation February 2023 At 6.44%, Largely On Expected Lines Read More »
E-Rupee: As of February 28, a pilot programme including a digital or e-rupee worth more over Rs 130 crore is in operation, according to finance minister Nirmala Sitharaman. On November 1, 2022, the Reserve Bank of India (RBI), in the wholesale segment (e-W), and on December 1, 2022, in the retail segment (e-R), piloted the
E-Rupee Worth Over Rs 130 Crore In Circulation: Sitharaman Read More »
ITR 2023: According to CBDT chairman Nitin Gupta, the income tax agency has selected up to 68,000 instances for electronic verification due to underreporting or non-reporting of income in tax filings for the 2019–20 fiscal year. The I-T department notifies taxpayers of discrepancies between the Annual Information Statement (AIS) of financial transactions and the submitted
Cash-strapped Due to a delay in signing the staff-level agreement with the international lender, Pakistan has decided to ask the US for assistance in order to obtain “lenient treatment” from the IMF. Pakistan is anticipating a much-needed tranche of cash from the International Monetary Fund, which has its headquarters in Washington (IMF). Islamabad has little
Pakistan Seeks US Help To Secure ‘Lenient Treatment’ From IMF Read More »
According to a corporate announcement on Saturday, IDFC Mutual Fund will debut as Bandhan Mutual Fund on March 13. The schemes of the fund house will therefore be given new names, with the term “Bandhan” replacing the word “IDFC” in each. The new brand logo, which closely resembles the Bandhan Bank logo but has different
IDFC Mutual Fund To Be Rebranded As Bandhan MF From Today Read More »
Silicon Valley Bank, a financial institution best known for its connections to high-flying international technology firms and venture capital, failed on Friday as a result of one of the oldest issues in banking: a bank run. Since Washington Mutual went down at the height of the financial crisis more than ten years ago, its demise
A Major Bank Failed. Here’s Why It’s Not 2008 Again Read More »
Industry experts predict that the bankruptcy of Silicon Valley Bank, the largest vendor in the startup ecosystem, will have a negative effect on the startup environment in India and has created a great deal of uncertainty in the market. “Hopefully the matter will get resolved, but I think it is a big hit for Indian
Collapse of Silicon Valley Bank to Impact Indian Startup Ecosystem! Read More »
The US India Strategic and Partnership Forum (USISPF) has welcomed the actions taken to fully preserve the insured and uninsured deposits at the now-defunct Silicon Valley Bank and stated that a speedy resolution is essential for the United States to maintain its leadership in the global startup and innovation ecosystem. The head of the USISPF,
Crypto News: The KYC of their customers and platform users will now be needed of cryptocurrency exchanges and intermediaries dealing with digital assets that exist only in the digital realm. On March 7, the Finance Ministry said that under the Prevention of Money Laundering Act, organisations trading in virtual digital assets will now be regarded
Crypto News: Crypto Exchanges, Intermediaries Need To Perform KYC Of Clients Read More »
