The Employees’ Provident Fund Organisation (EPFO) has introduced significant changes to the profile update process for its members. Under the revised rules, EPF members can now update their Aadhaar-linked Universal Account Number (UAN) details without uploading supporting documents. This update is expected to reduce delays and simplify the correction process for millions of EPF account …
The Reserve Bank of India (RBI) has announced liquidity-enhancing measures, including open market operations (OMOs) worth ₹1 lakh crore and a USD/INR buy/sell swap auction of $10 billion. These initiatives aim to stabilise liquidity in the banking system amid fiscal year-end pressures and increasing credit demand. Breakdown of the OMO and Forex Swap Measures To …
Tesla, the US-based electric vehicle (EV) giant, has taken a major step towards entering the Indian market by securing a lease for its first showroom in Mumbai. According to a report, Tesla has signed a 5-year lease agreement, marking a renewed effort to establish a presence in India after previous plans were put on hold. …
The Gujarat International Finance Tec-City (GIFT City) has emerged as a key investment hub for the Indian diaspora, with funds flowing in from Non-Resident Indians (NRIs) and People of Indian Origin (PIOs). According to the International Financial Services Centres Authority (IFSCA) chairman, Mr. K Rajaraman, investments in GIFT City-based funds have now surpassed ₹60,998 crore …
The Union Budget 2025 has introduced several important amendments to Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) regulations, effective from April 1, 2025. These changes are designed to reduce unnecessary complexities in tax deduction and collection, offering relief to common taxpayers, traders, and businesses. The modifications primarily focus on raising deduction …
The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as its Executive Director (ED), effective March 3, 2025. The central bank announced the appointment on March 5, 2025. Role and Responsibilities In his new role, Dr. Joshi will oversee the Department of Statistics and Information Management (DSIM) and the Financial Stability Department. …
India’s credit card industry is witnessing a slowdown, with disbursement growth hitting a 4-year low. January 2025 saw a decline in total spending and a reduction in the number of credit cards in circulation. While major banks still dominate the market, cautious consumer sentiment and market saturation are becoming evident. Credit Card Sector Faces Slowdown …
Hiring grows 10pc in February, demand surges for freshers, skills-based roles: Report Bengaluru, March 6 (IANS) India’s job market continued its upward momentum in February 2025, with hiring growing 10 per cent month-over-month (MoM), according to a report on Thursday. The report, based on the latest insights from the jobs and talent platform foundit, showed …
Gandhinagar, March 6 (IANS) The Gujarat Semiconnect Conference, held at Mahatma Mandir, in Gandhinagar saw the signing of eight major Memorandums of Understanding (MoUs) in the presence of Chief Minister Bhupendra Patel. These agreements, collectively worth more than Rs 1.04 lakh crore, aim to bolster semiconductor and electronics manufacturing in Gujarat, generating thousands of jobs. …
New Delhi, March 6 (IANS) Domestic company CDIL Semiconductors and Infineon Technologies Asia Pacific, a global semiconductor leader in power systems and IoT, on Thursday signed a memorandum of understanding to explore strategic collaboration opportunities in India’s fast-growing chip market. With the government prioritising semiconductor self-reliance, this collaboration supports India’s goal of strengthening local production …
