GST Council call on insurance next month
NEW DELHI: The GST Council, which is set to meet in Rajasthan on Dec 21-22, will decide on slashing the levy on term insurance plans from 18% to zero, along with creating a similar dispensation for health covers for senior citizens as well as those purchasing insurance up to Rs
State-owned MTNL defaults on Rs 1,000 crore loan to Bank of India
MUMBAI: State-owned telecom company MTNL has defaulted on its Rs 1,000-crore loan to Bank of India, compelling the lender to make a Rs 200-crore provision in its financials for the second quarter of FY25.Earlier, SBI had declared loans to MTNL as sub-standard, requiring a provision. According to lenders, chances of
Despite GST hike, e-gaming companies revenue up 12% in FY24
NEW DELHI: Contrary to the concerns raised by online gaming companies when GST rates were raised by govt, the industry’s revenue grew by 12% to $3.8 billion in FY24, even surpassing what was earned by social media companies.According to a report released by gaming VC Lumikai, the growing trend of
Hindalco Q2 net up 78% at Rs 3,909 crore
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India gaming market to hit $ 9.2 billion by FY29: Lumikai report
NEW DELHI: India’s gaming market is expected to reach $ 9.2 billion by 2028-29, driven by a rise in advertisement revenue and in-app purchases, venture capital firm Lumikai said in a report on Monday. The VC firm’s ‘State of India Interactive Media and Gaming Report’ said the Indian gaming market
FPI can go beyond 10% in listed company by reclassifying investment as FDI: RBI
NEW DELHI: The Reserve Bank of India on Monday announced that a foreign portfolio investor (FPI) investing in excess of the prescribed 10 per cent limit in a company, shall have the option of divesting their holdings or reclassifying such holdings as foreign direct investment (FDI).By far, rules provide that
Rupee may depreciate 8-10% during 2nd Trump presidency, says SBI report
The State Bank of India, in its latest report, has revealed that the rupee could undergo a depreciation of 8 per cent-10 per cent against the US dollar with Trump’s return to power, even as the local currency recorded an all-time low of 84.38 on Monday.SBI’s report, titled US Presidential
EPFO reports 6.6% growth in contributing employers and 7.6% rise in membership in 2023-24
The Employees’ Provident Fund Organization (EPFO) has seen substantial growth in its key performance indicators for 2023-24, as revealed by a recent statement from the Ministry of Labour. The number of contributing employers increased by 6.6%, reaching a total of 7.66 lakh, while membership grew by 7.6%, totaling 7.37 crore.The
India may see shifts in FDI inflows during Trump 2.0: SBI report
India’s foreign direct investment sector could undergo a transition with US president-elect Donald Trump returning to power for a second time, as per a research report by the State Bank of India.The report stated that Indian FDI inflows were impacted by the significant regulatory changes that Trump introduced during his
Compliance to growth: Boards don diverse hats
NEW DELHI: Boards have evolved significantly, looking beyond their traditional role in corporate governance to also serve as engines of growth, driving innovation and strategic decision-making. Five years ago, the focus was primarily on compliance.This marks a shift from a passive, compliance-driven mindset towards a more proactive approach, where boards