Credit Card Shake-Up: How Will It Impact Cardholders?
July has ushered in significant financial reforms, including changes to credit card rules and ITR deadlines. Major banks like HDFC, CitiBank, and others have announced alterations to their credit card rules, which will be implemented before the end of July. Additionally, the ITR filing date for the fiscal year (2023-24) and the assessment year (2024-25)…
Bhumika
Zomato Faces Massive ₹9.45 Crore GST Demand Notice
As per the BSE exchange filing, on June 30, Karnataka’s Assistant Commissioner of Commercial Taxes issued a GST demand notice to Zomato for Rs. 9.45 crore, including interest and penalty. The company’s exchange filing mentions, “This is to inform that the company has received an order for FY 2019-20 pursuant to the audit of GST…
Himanshu
JP Morgan’s Index Open Doors For Massive Investments
The world’s largest bank in terms of market cap, JP Morgan Chase & Co., has announced that they will be including Indian government bonds in their indexes from 28 June 2024. According to various experts, India is expected to raise billions of dollars after the development. Moreover, this listing will give a broad range of…
5G Spectrum Auction Kicks Off with Rs.11,340 Cr. Bids
The Indian Government announced a significant boost to its coffers, earning around Rs. 11,340 crores from the 2024 auction of 5G spectrum. This year’s auction witnessed active participation in 900MHz, 1800MHz, 2100MHz, and 2500MHz bands, further underlining the economic significance of the event. As per the Indian ministry, “The unsold spectrum will again be put…
Shipra Prajapati
Rising External Debt, Falling Debt-to-GDP Ratio
In its latest report, the Reserve Bank of India has provided key insights into India’s economic indicators. The report highlights that India’s external debt has increased by $39.7 billion, reaching a total of $663.8 billion by the end of March 2024. These figures would have been slightly higher if the valuation effect had not been…
Countdown to 5G: Spectrum Auction Kicks Off on June 25th
The government’s decision to reopen the auction for the 5G spectrum, valued at a staggering 96,000 crores, on June 25th is a significant event for the telecom industry. Major players like Reliance Jio, Bharti Airtel, and Vodafone Idea have already begun submitting their bids for crucial radio frequencies that will be the backbone of their…
India’s Infra To Surge 15.3% In The Next 5 Years
In their latest report, The New India- Infrastructure, Morgan Stanley, a renowned investment bank, anticipated that infrastructure investments in India would grow by a CAGR of 15.3%. This credible projection suggests an anticipated expenditure of $1.45 trillion ( ₹121.16 lakh crore) in India in the coming five years. They further mentioned that this would boost…
Chandan Kumar
India Emerged As The Fastest Growing Passenger Market
India’s domestic airline capacity has skyrocketed by 100% in the past decade, propelling it to the third spot in the global passenger market, just behind the USA and China. In 2014, India’s passenger capacity stood at 8 million, but by April 2024, it had surged to 15.5 million, marking India as the world’s fastest-growing airline…
Adani’s Ambitious $100 Billion Green Energy Vision
In the ‘Infrastructure – the Catalyst for India’s Future’ event of Crisil, the chairman of Adani Group, Gautam Adani, made remarks about the 1991 reforms and the current governance of India. He further shared his plans to invest $100 billion in the energy transition in the coming decade. Mr Adani mentioned at the conference, “The…
Muralitharan Plans To Invest ₹1,400 Cr In KarnatakaÂ
In recent events, Karnataka’s Ministry of Large and Medium Industries office confirmed the investment made by former Srilankan cricketer Muttiah Muralitharan. It was revealed that he would be investing Rs. 1,400 crores in different phases in Badanaguppe, Chamarajanagara district. The initial plan was to invest Rs. 230 crores, which was later revised to Rs. 1,000…
Abdullah Ansari