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SECTION 7 RBI ACT
Banks' credit steady at 17.7%, deposits ease to 12%: RBIBank credit growth stayed steady at 17.7% for the fortnight ended June 15, unchanged from the previous period, while deposit growth eased s...- Senior citizen mistakenly paid tax on tax-free VRS compensation; wins complete relief from ITAT Chennai on this groundA senior citizen wrongly paid tax on Rs 24 lakh retrenchment compensation received under a BSNL Voluntary Retirement Scheme. Despite a sign...
- Bank fraud cases: CBI flags issue of pending sanctions to probe bank officials in corruption casesThe CBI has highlighted significant delays in obtaining sanctions to probe and prosecute bank officials for corruption and fraud. This hurd...
- Taking a second loan for home loan repayment? Claim tax deduction on both under old tax regime for Tax Year 2026-2027Homeowners can now potentially claim tax deductions on interest paid for both their original home loan and a subsequent loan taken to repay...
- Forged Will row: Buyer should not face criminal case for purchasing land on the basis of Will which police found to be forged; rules SCThe Supreme Court has shielded an innocent land buyer from criminal charges in a forged Will case. The buyer, unaware of the forgery, purch...
- 'Passport never been proof of citizenship': Govt cites Passports Act 1967, Bombay HC rulingGovernment clarifies a passport has never been definitive proof of citizenship, citing the Passports Act and Bombay High Court rulings. Thi...
- India-US trade deal enters crucial phase as Section 301 and tariff deadline loom largeIndia and the US are in the final stages of trade deal negotiations, with a July 24 deadline looming. A key sticking point is Section 301 o...
- Weak monsoon raises food inflation concerns, but rate hike seen unlikelyEconomists are split on how a weak monsoon will affect food prices, with some believing falling oil prices will offset any hikes. Others wa...
- Listed pvt firms return to double-digit sales growth in FY26, led by manufacturing rebound: RBIIndian companies are back in the double-digit growth lane! The Reserve Bank of India reports that listed private non-financial firms saw sa...
- Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...
- RBI's Malhotra says rate hike talk is premature, stays in wait-and-watch modeReserve Bank Governor Sanjay Malhotra stated that a rate hike is premature, emphasizing the central bank's cautious, data-dependent approac...
- Will the ITR filing deadline for AY 2026-27 be extended? Here's what taxpayers need to knowTaxpayers can breathe easy as the Income Tax Return (ITR) filing deadline for AY 2026-27 is unlikely to be extended. Unlike last year's tec...
- Rs 20 lakh investment for senior citizens: SBI FD vs SCSS vs RBI floating rate bond- which pays the highest?Investment options for senior citizens: Senior citizens seeking steady retirement income can choose between Senior Citizens Savings Scheme ...
- MHA adds West Bengal's Haldia Seaport to immigration checkpoints listHaldia seaport in West Bengal has officially been designated as an immigration checkpoint, becoming India's 41st such facility. This move b...
- Filing ITR? Don’t ignore the ‘nature of employment’ field; it can affect NPS & retirement tax benefitsThe "Nature of Employment" field in the ITR is more than a routine disclosure. An incorrect selection can affect certain tax benefits, incl...
- Lucknow fire tragedy: Four arrested; accused owners of buildingFour joint owners of a commercial building in Lucknow's Aliganj have been arrested following a devastating fire that claimed 15 lives. The ...
- MSMEs are India's entrepreneurship nursery, RBI to continue strong support: Governor MalhotraEmphasising the Reserve Bank of India (RBI) continued committment to the MSME sector, RBI Governor Sanjay Malhotra on Sunday described Micr...
- Kolkata woman made Rs 26 crore profit in stocks and paid zero tax: Here's how she did it legallyA Kolkata businesswoman, Saroj Goenka, legally saved ₹26 crore in taxes by reinvesting long-term capital gains from share sales into constr...
- RBI sweetens FCNR deposits: NRIs can now earn up to 7% on dollar savingsFor the first time in years, the math is actually working for non-resident Indians to invest dollar savings in India.
- FEMA probe against Apollo Hospitals, 5 directors closed after compounding order: EDA foreign exchange violation case against Apollo Hospitals and five directors has been terminated. The Reserve Bank of India issued a compo...
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