Author: admin@thebankingtimes.in
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New Income Tax Rules to Be Notified by December, Effective from April 2026
CBDT will notify the new Income Tax rules by December 2025, ahead of the April 1, 2026 rollout. The department is preparing simpler ITR forms and will publish FAQs to guide taxpayers. The Income Tax Act, 2025, replacing the 1961 Act, has already received Presidential assent.
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FADA Urges Centre to Implement New GST Rates Quickly to Save Festive Vehicle Sales
FADA has urged the Centre to implement new GST rates immediately to prevent festive season sales losses. Dealers say customers are postponing purchases during Onam, Vinayaka Chavithi, Dussehra, and Diwali due to tax uncertainty. FADA also asked banks and NBFCs to extend short-term loan repayment by 30–45 days to ease dealer financial pressure.
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OYO Prepares for IPO, Draft Prospectus Likely to be Filed with SEBI in November
OYO plans to file its draft IPO prospectus with SEBI in November 2025. The listing is expected to value the company at $7–8 billion (Rs.61,000–69,600 crore). The IPO would be among India’s most high-profile startup listings, alongside Zomato and Paytm
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Fitch Keeps India’s Sovereign Rating at BBB-Minus with Stable Outlook
Fitch Ratings has kept India’s sovereign credit rating at BBB-minus with a stable outlook. Strong growth, forex reserves, and manageable debt supported the decision, but high deficit and low per-capita income remain constraints. BBB-minus is the lowest investment-grade rating, just above “junk” status, meaning India can still borrow at affordable rates globally.
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Many car buyers are delaying purchases amid expectations of a GST rate cut on vehicles. Dealers fear a festive-season slowdown
Many buyers are delaying car purchases, waiting for a possible GST rate cut on vehicles. Dealers fear festive season sales may drop as bookings are postponed. A GST reduction from 28% to 18% could lower car prices by Rs.70,000–1.5 lakh.
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PSBs Raise Rs. 1.54 Lakh Crore in Three Years via Equity and Bonds: MoS Finance
PSBs raised Rs.1,53,978 crore over FY2022-23 to FY2024-25 through equity, AT-1 and Tier-II bonds. The capital supports credit growth, regulatory capital adequacy, and higher public shareholding. Stronger PSB balance sheets have boosted market confidence and future lending capacity.
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No Transaction Charges on UPI Payments: Government Clarifies
Government confirms no charges will be levied on UPI transactions for users or merchants. UPI and RuPay debit cards notified as free digital payment modes under Income-tax Act, 1961. Govt has provided Rs.8,730 crore incentive support (FY21–FY25) to sustain the UPI ecosystem.
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Time Taken to Earn Rs. 1 Crore: India’s Biggest Companies
SBI tops the list,earning Rs 1 crore in just 7 minutes. Banks dominate followed by Reliance Infosys and Airtel. Figures show revenue speed not actual profits.
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Are CIBIL Scores Mandatory for Loans?
CIBIL and other credit scores are not mandatory for loans. RBI has not fixed any minimum credit score requirement. Banks take loan decisions based on their own policies. Every individual is entitled to one free annual credit report. Government to set up NFIR as a central financial data hub.
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Did You Know India Pays Over ₹12 Lakh Crore in Interest on Loans?
Government’s loan burden touches ₹185.94 lakh crore in FY25 Debt-to-GDP ratio falls to 56.1% in FY26 BE from 61.4% in FY21 India aims to reduce loan burden to 50% of GDP by 2031