Business

17

Feb

By The Press Editor

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Business

Here’s why it faces significant pressure in recent days – India TV

Image Source : PIXABAY The stock market may experience volatility because of fall in the Rupee against US dollar. The rupee witnessed a range-bound trade and depreciated 5 paise to 86.76 against the US dollar in initial deals on Monday, weighed down by significant foreign fund outflows and a negative trend in domestic equities. Forex traders said the Indian rupee is trading with a negative bias as foreign banks went on a dollar-buying spree and importers scrambled to secure dollars, as they feared further depreciation amid global uncertainty.   According to Pranit Arora, Founder and CEO, Univest, the Indian Rupee…

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17

Feb

By The Press Editor

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Business

Gold, Silver Prices Today: Yellow metal shines on MCX

Image Source : PIXABAY The spot gold price at 10:13 am was around the $2,90.8 per ounce mark. Gold, Silver Prices Today: Multi Commodity Exchange (MCX) gold prices witnessed strong buying interest today i.e. February 17, 2025. MCX Gold for the April 4 contract opened at Rs 84,946 and touched an intraday high of Rs 85,170 per 10 gm on Monday.  At around 10 AM, it was at Rs 85,156 per 10 grams - 0.55 per cent higher than the previous close of Rs 84,687. The yellow metal's same contract had hit an all-time high of Rs 86,360 per 10 grams…

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17

Feb

By The Press Editor

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Business

Sensex falls 500 points, Nifty below 22,800 – India TV

Image Source : INDIA TV Stock markets open in red on Monday. Market Opening Bell: Indian benchmark indices opened in the red on Monday, February 17, 2025, amid mixed global cues. The 30-share BSE Sensex was down 522.15 points or 0.69 per cent at 75,417.05 and the NSE Nifty fell 186.50 points or 0.18 per cent at 22,742.80 in the opening trade. Among the major gainers in the early trade were Sun Pharma, HUL, Cipla. On the other hand, M&M, Bharat Electronics, Tata Steel, Shriram Finance and ONGC were the biggest laggards. According to NSE data, around 731 shares advanced, 1709…

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16

Feb

By The Press Editor

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Business

What users need to know – India TV

Image Source : FILE FASTag In a significant update for FASTag users, the National Payments Corporation of India (NPCI) has announced new regulations for toll collection, set to take effect from February 17, 2025. These changes aim to streamline toll tax collection and ensure a smoother experience for commuters. However, failure to comply with these rules could result in users paying double the toll fee. Here’s a breakdown of the updated FASTag rules and their implications. When will payments be rejected? According to a circular issued by NPCI on January 28, 2025, payments via FASTag will not be processed if:…

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16

Feb

By The Press Editor

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Business

RBI gives approval to Bank of Maharashtra for opening GIFT City Branch – India TV

Image Source : X Image used for representative purposes. The Reserve Bank of India (RBI) gave its approval to the Bank of Maharashtra (BoM) on Sunday to set up an International Financial Services Centre (IFSC) Banking Unit at GIFT City. The branch will function as Bank of Maharashtra's first international branch carrying out offshore banking operations from India. Speaking on the development, BoM MD & CEO Nidhu Saxena said," This is a significant opportunity for our bank as we continue to expand our operations across geographies. The opening of IBU in GIFT City will be yet another milestone in the…

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16

Feb

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Business

How will market act in coming week? Analysts explain complexity amid turbulence due to ‘Trump factor’ – India TV

Image Source : X Representational picture Stock markets are likely to be driven by global trends and FPI trading activity this week. The analysts said the conclusion of the earnings season would influence the marking in the coming days. Factors leading to the bear market last week Lower-than-expected quarterly earnings, Unabated foreign fund outflows, and global trade war fears hit market sentiments last week, where the benchmark indices Sensex and Nifty extended their downward trend to the eighth day in a row on Friday. Focus on global developments amid turbulence Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial…

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15

Feb

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Business

Now you can do ‘section to section mapping’ of I-T Act, check here how – India TV

Image Source : X Representational picture If you are one among those who are a little worried about the new New Income Tax Bill, here is good news for you. The authorities have uploaded the bill on the tax department portal. Now, Income Taxpayers can match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal. Section to Section mapping on I-Twebsite Also, Section to Section mapping as per the Income Tax Act, 1961 and Section number as per the New Income Tax Bill has been uploaded on the…

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15

Feb

By The Press Editor

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Business

New India Cooperative Bank GM Hitesh Mehta arrested by EOW for allegedly embezzling Rs 122 crore – India TV

Image Source : PTI New India Cooperative Bank GM Hitesh Mehta arrested. New India Cooperative Bank GM Hitesh Mehta arrested by Economic Offences Wing (EOW) of the Mumbai Police on Saturday in a fraud case. Earlier in the day, the EOW officers interrogated Hitesh in the fraud case. Notably, Hitesh Mehta's medical check-up has been done by the police on the charge of New India cooperative bank scam. Hitesh Mehta's lawyer Chandrakant Ambani said that his client is being framed as he has not embezzled any money. He stated that no irregularities were found in the bank's balance sheet and…

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15

Feb

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Business

Case filed against general manager, will depositors get back money? – India TV

Image Source : SOCIAL MEDIA Check New India Cooperative Bank case latest updates. Mumbai: In a significant development, Mumbai police said they have registered a case against the New India Cooperative Bank's General Manager and Head of Accounts along with his associates for allegedly embezzling Rs 122 crore of funds, officials said on Saturday. The case has been transferred to the Economic Offences Wing (EOW) of the city police for further investigation, an official said. The Reserve Bank of India (RBI) on Thursday imposed several restrictions on the cooperative bank, including on withdrawal of funds by depositors, citing supervisory concerns…

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15

Feb

By The Press Editor

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Business

Who will benefit and how much? – India TV

Image Source : PEXELS REPRESENTATIVE IMAGE The Central Government has introduced the Unified Pension Scheme (UPS) as an alternative to the National Pension System (NPS). The official announcement for UPS was made on January 24, 2025, and it will come into effect from April 1, 2025. The scheme is exclusively for government employees who are already registered under NPS. These employees will have the option to choose between NPS and UPS, providing them with more flexibility in planning their post-retirement financial security. Why was UPS introduced? The demand for the Old Pension Scheme (OPS) had been growing, as OPS provided…

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