Centre collected Rs 600 crore from online gaming companies in TDS

The CBDT Chairman said that while there was a rule earlier it was subject to diverse interpretations and now rules are simplified, this will ensure better compliance for both players and companies.

PE inflows plunge 65% to USD 1.81 bn in July-September

Private equity investments in India dropped by 65.4% to $1.81 billion in Q3 2023 compared to the same period last year. The number of deals also fell by 50.1% to 232. Despite this decline, internet-sp

India's direct tax collection up 18% YoY as of October

India`s gross direct tax collection for the period from April 1 to October 9 increased by 17.95% to Rs 11.07 lakh crore, according to the Ministry of Finance. Net collections were 21.82% higher than t

NCLAT set aside CCI order imposing penalty on 18 sugar mills, 2 trade associations

The National Company Law Appellate Tribunal (NCLAT) has set aside a penalty of Rs 38.05 crore imposed by the Competition Commission of India (CCI) on 18 sugar mills and two trade associations. The pen

RBI stops Bank of Baroda from adding customers to its mobile app

The Reserve Bank of India has ordered Bank of Baroda that it can not add customers to its mobile application. This comes after reports earlier that the bank`s official had linked bank accounts to unre

Indian banks pursue unpaid loans by Singapore's GVK in UK court

Six Indian banks are pursuing unpaid loans amounting to an estimated $2 billion, including interest, from GVK Coal Developers (Singapore) and associated companies. The case, which dates back to 2011 a

RBI bans new customers on BoB's mobile application

The central banks action comes almost three months after a news network exposed how the bank linked bank accounts to unregistered mobile numbers and signed up these numbers to the application. Even th

WhiteOak Mutual Fund stops accepting lumpsums in Multicap Fund

WhiteOak Capital Mutual Fund has restricted investments into its Multicap Fund from October 4, making it the first scheme in this category to limit flows.

Flood-hit Sikkim Urja looks to claim ₹11,400 cr cover

The total sum assured in the policy is ₹11,400 crore. However, there is a cap of ₹500 crore on payouts for certain natural calamities. Therefore, the extent of the claim settlement could be lower. Whi

Free to raise commissions, insurers push annuity plans

The insurance regulator has granted insurers the flexibility to determine commissions across their product range, allowing them to offer higher commissions to distributors for annuities compared to UL

Policy in works to scale up bamboo cultivation

The policy, expected by the end of this year, is expected to lay down of BIS standards for bamboo, food and safety standards certification for bamboo products and geographical indications (GI) tagging

WhiteOak Capital Mutual Fund files draft for large mid cap, thematic fund

WhiteOak Mutual Fund has filed draft for two schemes: WhiteOak Capital Large Mid Cap Fund and WhiteOak Capital Banking Financial Services Fund.

Insurance companies 'disregarding' guidelines issued by regulator: AHPI

The Association of Healthcare Providers India (AHPI) has accused private insurance companies of unfairly rejecting claims and disregarding guidelines set by the Insurance Regulatory and Development Au

India gets 5th set of Swiss bank account details under automatic info exchange framework

India has received a new set of Swiss bank account details as part of an annual automatic information exchange. Switzerland has shared information on nearly 3.6 million financial accounts with 104 cou

Mirae Asset Mutual Fund launches Mirae Asset Nifty 200 Alpha 30 ETF

The scheme will be benchmarked against Nifty 200 Alpha 30 TRI (Total Return Index). The scheme will be managed by Ekta Gala and Vishal Singh.