Author: admin@thebankingtimes.in
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PAN 2.0 Project to Launch Next Year
The Income Tax Department has announced the PAN 2.0 Project, a major modernization initiative aimed at providing seamless, secure, and user-friendly taxpayer services. The project, with a financial outlay of Rs. 1,435 crore, will consolidate all PAN/TAN-related services under a single digital platform. IT services major LTIMindtree has been awarded the contract, and the new…
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Rupee Nears All-Time Low, Closes at 87.66 Against Dollar
The Indian rupee continued to weaken, falling 48 paise on Monday to close at 87.66 per US dollar. During intraday trade, the currency slipped as much as 55 paise to touch a low of 87.73. Reasons Behind the Rupee Weakness Market analysts attribute the decline to uncertainty in trade tariffs and consistent selling by foreign…
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Repco Bank Presents Rs. 22.90 Crore Dividend to Amit Shah
Repco Bank presented a cheque of Rs. 22.90 crore towards dividend for FY 2024-25 to Union Home Minister and Minister of Cooperation, Shri Amit Shah, in New Delhi. The Union Home Minister congratulated Team Repco Bank for posting a record net profit of Rs. 140 crore, the highest in the bank’s history. Key Highlights Dividend…
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Government and RBI Initiatives to Boost Digital Payments and Financial Inclusion
The Government of India, along with the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), has launched multiple initiatives to promote digital payment transactions and enhance financial inclusion across the country. Key Initiatives for Digital Payments Incentive scheme for promotion of RuPay Debit Cards and low-value BHIM-UPI (P2M) transactions. Payments…
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Nifty Bank Top Performers – 4th August
Bank Name Last Price (Rs.) Change (Rs.) % Change BANKBARODA 293.30 +7.45 +2.60% IDFCFIRSTB 67.30 +1.05 +1.58% INDUSINDBK 1606.50 +39.10 +2.48% CANBK 162.00 +1.75 +1.09% SBIN 742.60 +11.55 +1.56% ICICIBANK 1,481.30 -8.30 -0.56% HDFCBANK 1,888.10 -11.70 -0.62%
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PFRDA Launches New Website Under PFRDA CONNECT to Enhance Digital Engagement
The Pension Fund Regulatory and Development Authority (PFRDA) has launched its modernized website under the PFRDA CONNECT initiative. The new website was inaugurated by Shri S. Ramann, Chairperson, PFRDA, in New Delhi on August 4, 2025. This transformative digital milestone aligns with PFRDA’s vision of promoting transparency, efficiency, and accessibility in pension sector governance through…
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Government to Auction Rs 25,000 Crore in Government Securities on August 8
The Government of India (GoI) has announced the re-issue of two major government securities (G-Secs) through price-based auctions to raise Rs 25,000 crore. The auction will be conducted by the Reserve Bank of India (RBI) on August 8, 2025 (Friday). *Securities on Offer* Security Notified Amount (Rs. crore) Type 6.28% GS 2032 11,000 Re-Issue 7.09%…
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Seven Upcoming IPOs to Benefit from SEBI’s New Proposal
The Securities and Exchange Board of India (SEBI) has proposed a reduction in retail investor reservation and higher allocation for Qualified Institutional Buyers (QIBs) for large initial public offerings (IPOs). Seven IPOs currently in the pipeline could be the first to benefit from this new structure. According to Prime Database, these IPOs are either awaiting…
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RTI Reveals PSU Banks Recovery Agent Spending
A Right to Information (RTI) query filed by India Today with the Department of Financial Services (DFS) has revealed how much taxpayer-funded public sector banks (PSBs) are spending on hiring recovery agents. The findings show a mix of partial transparency and widespread stonewalling. Recovery agents in India have faced controversy over allegations of harassment, intimidation,…
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CBDT Relief on Higher TDS/TCS for PAN-Aadhaar Linking
The Central Board of Direct Taxes (CBDT) has issued Circular No. 9/2025 on July 21, 2025, offering relief to taxpayers and deductors from higher TDS/TCS deductions due to inoperative PANs not linked with Aadhaar. As per Rule 114AAA of the Income-tax Rules, 1962, PANs become inoperative if not linked with Aadhaar, which triggers higher TDS…