Reserve Bank proposes stricter lending rules to prevent stress on bank books during project implementation. Provisioning increases to 5% during construction phase, with reductions based on project phase and conditions met. Public feedback accepted until June 15.
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The report claimed that once the new government takes charge, the income tax department may prevent tax base erosion, revamp laws on penalties, and impose uniform treatment for all asset classes. Currently, India follows a differential tax structure for various…
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Delhi HC orders SpiceJet to pay $1.58 million to engine lessors by May 22. Ongoing negotiations for settlement. Rs 50 crore payment deadline to avoid grounding engines, with total dues $10.84 million.
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India’s mining sector thrived in FY24, with iron ore and limestone production leading the growth. The sector’s positive performance was driven by robust demand in steel, cement, and aluminum industries, highlighting strong economic activity.
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PNB Housing Finance targets significant loan portfolio growth in FY25, driven by retail lending focus. The lender aims to balance affordable, emerging, and prime segments, with strategic branch distribution and varied interest rates for different loan types.
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Atanu Chakraborty has been reappointed as the part-time chairman of HDFC Bank by the Reserve Bank of India for a three-year term from May 5, 2024, to May 4, 2027. With a 35-year tenure in the Indian Administrative Service (IAS)…
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