India’s Tax Season Closes: 5.9 Crore Returns Filed by July 31 Deadline Amidst Evolving Tax Landscape
India's tax season concluded with 5.9 crore income tax returns filed by the July 31 deadline. This substantial figure, though slightly lower than last year's extended period, reflects timely compliance amidst new tax concessions and ongoing…
Gold Loans Ignite Q1FY27 Bank Credit Growth with Astounding 94% Surge
Gold loans propelled bank credit growth in Q1FY27 with an astounding 93.8% year-on-year surge. This, combined with strong performance in industrial, vehicle, and medium enterprise lending, signals a robust expansion across India's banking sector and an…
India’s Q1 Fiscal Deficit Nears 18% of Annual Target Amid Subsidy Surge and Modest Tax Growth
India's Q1 fiscal deficit reached 18% of its annual target, primarily driven by a significant surge in fuel and fertilizer subsidies amidst global price volatility. This performance underscores the challenges in balancing expenditure with modest tax…
A Paradigm Shift: Domestic Funds Now Own Over 20% of Indian Companies, Surpassing FPIs
Domestic institutional investors now own over 20% of Indian companies, surpassing foreign portfolio investors at 17%. This marks a significant shift, highlighting India's growing self-reliance in capital markets, driven by consistent domestic inflows and…
India’s ‘Samudra Manthan’: Cabinet Unleashes Rs 84,084 Crore Drive for Offshore Energy Independence
India’s Cabinet has sanctioned an ambitious Rs 84,084 crore 'Samudra Manthan' scheme to unlock vast offshore oil and gas reserves by FY2030-31. This strategic initiative aims to significantly bolster the nation's energy security and reduce reliance on…
India’s Gold Loan Surge: Larger Ticket Sizes and a Strategic Shift from Unsecured Lending Fueling Growth
Gold loans are surging in India, driven by existing borrowers taking larger sums and a notable shift away from unsecured credit. This trend highlights a growing preference for secured financing options, with NBFCs playing a key role.
India’s Industrial Production Soars to 22-Month High with 7.3% Growth in June
India's industrial production surged by 7.3% in June, marking a 22-month high, fueled by robust growth in manufacturing and electricity sectors. This strong performance signals resilience amidst global economic headwinds, though future output faces…
Indian Public Sector Banks Achieve Historic Low in Bad Debt, Fueling Economic Growth
Indian public sector banks have achieved a historic milestone, reporting their lowest bad debt levels in decades. This remarkable turnaround, fueled by government support and strategic reforms, has led to record profits and accelerated credit growth…
Indian Equities Soar: Sensex Jumps Over 800 Points, Nifty Breaches 24,000 Mark
Indian benchmark indices soared today, with the Sensex gaining over 800 points and the Nifty 50 crossing the 24,000 mark for the first time. This rally is fueled by strong domestic economic data, positive global cues, and robust corporate earnings,…
RBI’s Strategic Forex Swap Scheme Expected to Attract $80-85 Billion Inflows, SBI Report Suggests
India's Reserve Bank of India (RBI) has launched a strategic swap scheme, projected by SBI to attract $80-85 billion in forex inflows. This move aims to bolster reserves, stabilize the rupee, and enhance economic resilience amidst global uncertainties.