US authorities have begun refunding billions in customs duties. This follows a Supreme Court decision invalidating President Donald Trump’s global tariffs. May saw $22 billion in refunds, matching duties collected. The government is processing repayments for $166 billion collected under…
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Eyewear retailer Lenskart Solutions experienced a significant block deal valued at Rs 1,862 crore. Abu Dhabi Investment Authority, through its investment vehicle, sold a portion of its shares. This follows a similar stake sale by SoftBank. Despite early investors reducing…
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The Reserve Bank of India has cancelled the registration of 135 non-banking finance companies. Thirteen other companies have surrendered their licenses. These actions are due to various reasons including exiting the business or ceasing to be legal entities. Many of…
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The Export Credit Guarantee Corporation (ECGC) has received 929 applications under the government’s special RELIEF scheme for exporters affected by the ongoing West Asia conflict, with 195 claims processed so far and Rs 6.68 crore disbursed as of June 9,…
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Under the revised framework, banks will be required to establish clearly defined and independent Risk Management, Compliance and Internal Audit functions, each headed by a Chief Risk Officer (CRO), Chief Compliance Officer (CCO) and Head of Internal Audit (HIA), respectively.
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India’s domestic trade and logistics activity continued to display resilience in May, with e-way bill generation under the Goods and Services Tax (GST) regime rising to 136.08 million, marking an increase of nearly 11 per cent from 122.65 million recorded…
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