Finance Current Affairs

Trade Deficit widens to record $26.1 Billion in June

India’s merchandise trade deficit widened to a record $26.18 billion in June, wider than the government’s earlier estimate of $25.63 billion, after the Commerce Ministry revised upwards both the exports and imports figures for the month. The previous record monthly merchandise trade deficit was $24.3 billion in May. Last month’s trade deficit was almost three times as wide as the […]

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Center extends State and Central Tax and Levies Rebate Program

The government has approved the continuation of the Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) with the same rates as announced by the Ministry of Textiles for exports of apparel/garments and made-ups until March 31, 2024 in an effort to increase exports and create jobs in the textile industry. RoSCTL is a growth-oriented, forward-looking

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Paper Import Monitoring System to come into effect from 1 October

Paper Import Monitoring System will come into effect from 1st October 2022, an importer need to provide advance information online about the import of papers and obtain a registration number. It is applicable on import by a Domestic Territory Area unit on a wide range of paper products covering 201 tariff lines, such as newsprint, handmade paper, tissue paper,

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Arohan Financial Services launches digital lending app

NBFC-MFI Arohan Financial Services has launched a digital lending app named ‘ApnaArohan’ for its existing customers. This app will help its customers make repayments and other transactions through the digital mode. It reduces the physical interaction with the loan officers of the MFI. The AI-powered app will help to increase the outstanding portfolio from ₹4,500 crore (June

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ICICI Direct launches learning app to teach finance, investment to Indians

ICICI Securities has launched a learning app named ‘ICICIdirect iLearn’ with an aim to provide customers with easy access to learning financial products and market topics. This will help customers with this app to better assist them in their investment journey. Currently, the app hosts more than 550 plus content pieces across various sections. The app content will be

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NITI Aayog launches report on Future Penetration of Electric Two-Wheelers

NITI Aayog and TIFAC have launched a report titled ‘Forecasting Penetration of Electric Two-Wheelers in India’. Total eight scenarios have been for analyzing the future penetration of electric two-wheelers in the country. Optimistic scenario Forecasts: 100% penetration of electric two-wheelers in the Indian market by FY 2026–27. TIFAC, is an autonomous organization set up in 1988 under the Department of Science

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GST Council to talk about modifying law, online gambling and casinos

The GST Council, which is scheduled to meet next week in Chandigarh, is likely to discuss changes in law to facilitate provision for setting up GST Tribunals. The Council will also discuss the group of ministers’ (GoM) report on online gaming, casinos and race courses, sources told CNBC-TV18. The GoM met on June 17 and discussed issues

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Disbursement of Loan to MSME sector grew by 182% after pandemic period

According to the study conducted by credit bureau CRIF High Mark, the loan disbursed to MSME sector grew by a massive 182% in FY22 to Rs 37 trillion. In terms of value, the loan disbursal of private banks increased from 33.6% in FY20 to 69.8% in FY22. Share of private banks increased from 26.9% in FY20 to

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Piyush Goyal: Indian GDP might reach $30 trillion in coming 30 years

India is one of the fastest-growing economies in the world and it is expected to reach USD 30 trillion in the coming 30 years, Commerce and Industry Minister Piyush Goyal said here on Sunday. Goyal remarked that if India grows at a compound annual growth rate of 8% annually, the economy will double in nine years

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Liberty General Insurance partners Peerless Financial Products Distribution

Liberty General Insurance has signed an agreement with Peerless Financial Products Distribution Ltd (PFPDL) to enable the distribution of Liberty’s retail and commercial line of products. The product distribution across the country will be done through the 42 branches of Peerless. Liberty is working closely with PFPDL to provide training and operational expertise. Liberty General Insurance HQ: Mumbai; CEO:

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