The Investor Education and Protection Fund Authority (IEPFA) has received a set of recommendations from a high-level committee that proposes a simplified process for low-value investor claims, the Ministry of Corporate Affairs (MCA) said on Saturday.According to the ministry, the changes are expected to reduce timelines, enhance transparency, and deliver hassle-free services to investors, PTI […]
GST reforms to boost dairy and fertiliser sectors; lower household costs, aid farmers
The sweeping GST reforms announced this week will give a major push to India’s cooperative and farm sectors by reducing costs, boosting demand, and raising incomes, the Ministry of Cooperation said in a statement.The ministry noted that the reforms will particularly benefit rural enterprises, farmer producer organisations (FPOs), and women-led self-help groups engaged in food […]
Car prices: Mahindra cuts rates by up to Rs 1.56 lakh after GST reform; XUV700, Thar, Scorpio see big drops
Mahindra & Mahindra on Saturday announced a reduction of up to Rs 1.56 lakh across its passenger vehicle range, passing on the benefit of the GST rate cut to customers.The move comes after the revamped Goods and Services Tax (GST) structure was cleared at the 56th GST Council meeting on September 3. The revised prices […]
GST reform: Nirmala Sitharaman calls overhaul ‘a people’s reform’ touching every family; to boost consumption
Calling the landmark GST overhaul a “people’s reform”, finance minister Nirmala Sitharaman said the sweeping rationalisation of tax rates across nearly 400 products will benefit every family, lower household bills, and boost consumption, giving a fresh push to the economy.In an interview to PTI, Sitharaman emphasised that she would personally monitor whether the benefits of […]
Agri GST cuts lower farm costs: FSII welcomes move; industry seeks relief for seeds too
The Federation of Seed Industry of India (FSII) on Saturday welcomed the GST Council’s decision to slash rates on key agricultural inputs but urged the government to extend similar relief to the seed sector.According to FSII, the reduction of GST on fertiliser raw materials, bio-pesticides, micronutrients and farm machinery will lower input costs and strengthen […]
GST overhaul to boost consumer spending; FMCG, footwear QSRs, grocery sector to gain: Report
The sweeping GST rate reductions announced this week will bolster consumer spending and benefit sectors such as footwear, quick-service restaurants (QSRs), FMCG, and grocery retail, according to Global financial consultancy Bernstein. In a report, Bernstein flagged a notable shift: the reduction of GST on personal care and household products — including soaps, shampoo, hair oil, […]
US jobs data: Unemployment hits four-year high at 4.3%; only 22,000 new jobs in August
Employment data for August revealed significant weakening in US job market conditions, with unemployment climbing to 4.3%, marking a nearly four-year peak. This development strengthens expectations for a Federal Reserve interest rate reduction this month, according to Reuters.The Friday employment report further disclosed June’s first job losses in four and a half years, raising concerns […]
Financial plan for aged: What is Mutual Fund–Voluntary Retirement Account, modelled on US 401(k)? All you need to know
With India’s elderly population projected to reach 21 per cent by 2050, there is growing urgency for a robust retirement savings framework. UN data from 2023 shows that while 43 per cent of Indians were under 25, only 11 per cent were above 60, hinting at the demographic shift ahead. To address this challenge, the […]
After SBI and BoI, BoB classifies RCom, Anil Ambani a/c as fraud
MUMBAI: Bank of Baroda has classified Reliance Communications (RCom) and former non-executive director Anil Ambani’s loan accounts as ‘fraud’, adding to similar actions by SBI and Bank of India. The move, disclosed by RCom to the BSE and NSE on Sept 4, followed a forensic audit by BDO India LLP that flagged large-scale irregularities. The […]
Government allows one-time pension scheme switch: UPS members can move to NPS; deadline fixed for September 30
The Finance Ministry has launched a single-use, unidirectional switch option for central government employees who opted for the Unified Pension Scheme (UPS) to return to the National Pension System (NPS). The move gives staff and eligible retirees more clarity on their pension choices as the September 30, 2025 deadline approaches.Strict rules for switchingAccording to the […]