Budget
Government to expand scope of digilocker, aid KYC related activities, ET BFSI
Fintech Services in india has been facilitated by digital infrastructure including Aadhaar, PM JanDhan Yojana, India Stack, UPI, etc. "To enable more, the scope of documents available in digilocker for individuals will be expanded. An entity digilocker will be used by...
Budget 2023 I FM revamps credit guarantee scheme for MSMEs with Rs 9,000 crore infusion, ET BFSI
Finance minister Nirmala Sitharaman has proposed to revamp the credit guarantee scheme with an infusion of Rs 9,000 crore and a reduction of interest rate by about 1 per cent."The revamped scheme will take effect from 1st April 2023 through the infusion of Rs 9,000...
Top 10 announcements made by Finance Minister, ET BFSI
Hailed by the Finance Minister Nirmala Sitharaman, Prime Minister Narendra Modi, the Union Budget 2023-24 also being called as “Amrit Kaal’s first budget” provides a foundation to fulfil resolve for a developed India.According to many industry leaders, the budget...
Budget 2023 I FM announces savings scheme for women with 7.5% interest rate, deposit sops for seniors, ET BFSI
The finance minister announced a 'Mahila Samman Saving Certificate' with a fixed interest rate of 7.5 per cent for two years in her Budget speech. The deposit can be made in the name of a woman or a girl child. The maximum deposit amount has been kept at Rs 2 lakh and...
Budget 2023 I Life insurance policies’ income with an aggregate premium over Rs 5 lakh to be taxed, ET BFSI
The government has said only those life insurance policies that have an aggregate premium of Rs 5 lakh will be exempt from tax in the new fiscal. "It is proposed to provide that where aggregate of premium for life insurance policies (other than ULIP) issued on or...
Growth-oriented, progressive Budget aimed to boost consumption and inclusion, says Bankers, ET BFSI
The Union Budget 2023 was tabled on Wednesday by the Finance Minister of India. The budget presented by Nirmala Sitharaman attempts an inclusive growth structure for the economy through various measures that are expected to reach the last mile.Bankers say that it is a...
Analysis of Modi 2.0 government in numbers, BFSI News, ET BFSI
(Image: Reuters)Yesterday when the Economic Survey was released, the Chief Economic Advisor-V. Anantha Nageswaran said “India’s economic recovery is now complete, India will perform well this year.”This is a testimony to the fact that all the macroeconomic challenges...
Revamped credit-guarantee scheme to boost sector, new tax regime to uplift purchase power of middle-class: NBFC Leaders, ET BFSI
Nirmala Sitharaman, Union Finance Minister of India delivered a populist Budget on February 01, 2023, keeping all sectors in mind. NBFC leaders believe that it is a capex-heavy budget with an announced 33% increase in capex.They also believe that the income tax...
GIFT IFSC gets a slew of incentives to increase business, ET BFSI
Finance minister Nirmala Sitharaman has announced a slew of measures to enhance business activities in GIFT IFSC (International Financial Services Centre) in Gujarat including delegating powers under the SEZ Act to IFSCA to avoid dual regulation.In the Union Budget...
PSU bank acquirers can amalgamate such banks in five years, ET BFSI
The government has sought to give a boost to divestments in the public sector banks by giving incentives for carrying forward losses of such lenders."To facilitate certain strategic disinvestments, it is proposed to allow carry forward of accumulated losses and...
Finance Minister’s roadmap for a greener economy, ET BFSI
- Navya MenonThe Economic Survey highlighted that India is one of the most vulnerable countries as far as climate change is concerned, despite contributing only 4% to the entire carbon emissions of the world. In 2021, at COP26 held in Glasgow, India pledged to go net...
How the government plans to meet the shortfall in finances, ET BFSI
Heeding the call for fiscal prudence from several quarters, finance minister Nirmala Sitharaman did not resort to populism in an election year and continued on the path of fiscal consolidation in the Union Budget 2023-24.The finance minister has set a fiscal deficit...
Budget points at long-term economic growth target through capex; SOPs to boost consumption: Finance experts, ET BFSI
The Union Budget 2023 was tabled on February 01, 2023 and the industry believes that it is a populist budget. Finance Minister has checked all the boxes while designing the Budget and has addressed every sector equally. Finance experts believe that this year's budget...
Continuity and incremental changes hallmarks of Budget, need to embrace antifragile mindset says SBI report, ET BFSI
The Budget has retained its focus on seven broad areas of inclusive development, last mile connectivity, infrastructure development, employment generation, unleashing potential innovation, green growth and financial sector which mirrors the broad strategy of the last...
Consumption, capex boost in Budget 2023 brings cheer to bankers, ET BFSI
The Union Budget, though does not have direct measures for the banking sector, the measures to boost consumption are likely to benefit the sector, bankers said. "Banks have been enjoying higher credit growth phases over the last six to nine months. The capex...
Higher Capex and increased consumption by NTR to help uplift credit growth: BFSI Leaders, ET BFSI
Union Budget 2023-24 has enlarged the Government's capex by a massive 33 percent, dominated by higher allocations for roads, railways and the interest-free capex loan for the states. Additionally, Finance Minister Nirmala Sitharaman announced a change in income tax...
Private sector likely to see ease in borrowing costs, ET BFSI
India’s private sector may witness reduced borrowing costs as the 10-year bond yield may ease by 30-40 basis points in the next six months following commitment to fiscal consolidation, experts said at a post-budget meeting.The Union Budget 2023-24 pegs the fiscal...
Housing Finance leaders welcome Finance Minister’s enhanced outlay for PMAY, ET BFSI
Finance Minister Nirmala Sitharaman has given a boost to the housing sector through announcement of a 66% hike in the Pradhan Mantri Aawas Yojana (PMAY) outlay to Rs 79,000 crore. She said the government will create Urban Infrastructure Development Fund on the lines...
Impact of New Income Tax Regime on Insurance, BFSI News, ET BFSI
The Union Budget 2023 which was presented by the Finance Minister Nirmala Sitharaman on 1st February has provided a boost to the new income tax regime with a slew of measures to make it more appealing for taxpayers.However, market participants are asking FM Sitharaman...
Incremental CRR to neutralise liquidity surplus, say Economists, ET BFSI
-Riddhima GuptaEconomists express their views on the decisions and developments of the Reserve Bank MPC Meet. They discuss the unchanged policy rates, imposition of the ICCR and its impact on the liquidity in the economy and expectations for inflation &...
Pc, BFSI News, ET BFSI
MADURAI: Even now it is not late for the government to rework on the Union Budget to give some respite to the common people, former Union finance minister P Chidambaram has said. Analyzing the budget at a function organized by Tamil Nadu Chamber of Commerce and...
Pc, BFSI News, ET BFSI
MADURAI: Even now it is not late for the government to rework on the Union Budget to give some respite to the common people, former Union finance minister P Chidambaram has said. Analyzing the budget at a function organized by Tamil Nadu Chamber of Commerce and...
