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Canara Bank aims to raise $2.3-2.5 billion through the special foreign currency non resident bank deposits (FCNR-B) and overseas borrowing windows, which are being used to boost dollar-inflows into the country. The state-owned lender targets to raise $1.5 billion from FCNR-B alone by September, managing director Brajesh Kumar Singh said. “We have already raised $750…
Tamilnad Mercantile Bank reported a 35% year-on-year jump in June quarter net profit at Rs 412 crore against Rs 305 crore in the year ago period, backed by a 17.5% rise in total income at Rs 1901 crore. Pre-provision operating profit for the private sector lender stood 48% higher at Rs 611 crore. Its net…
Tata Chemicals on Monday reported an 81 per cent decline in consolidated net profit to Rs 60 crore for the quarter ended June on higher expenses. Its net profit stood at Rs 316 crore in the year-ago period. The company’s total income rose to Rs 4,311 crore in the first quarter of this fiscal from…
8th pay commission: The 8th pay commission is conducting multiple state visits and meetings with employee representative groups, unions and stakeholders to gather views ahead of its own recommendations on pay hikes, allowances, salary structure, and other factors. Constituted every 10 years, the panel is expected to announce its final recommendations by mid-2027. Beneficiaries include…
The Employees’ Provident Fund Organisation (EPFO) has delayed the rollout of its Unified Payments Interface (UPI)-linked claim settlement facility as it works to resolve technical issues with its upgraded digital platform, according to a Business Standard report published on 26 July. The facility, which was earlier expected to be launched by the end of FY26…
More than one lakh Employees’ Provident Fund Organisation (EPFO) subscribers are a step closer to receiving long-unclaimed provident fund balances automatically, with the Labour Ministry identifying and verifying 1.18 lakh dormant accounts under a pilot refund programme, according to a report by The Hindu BusinessLine. The pilot covers 7.11 lakh inoperative EPFO accounts holding balances…
Many investors diversify their equity mutual fund investments across categories such as flexi cap, large & mid cap, multi cap, and large cap funds. However, investing in different categories does not necessarily mean gaining exposure to a wider set of stocks. A Value Research analysis has found that several equity mutual funds with different investment…
Picture a city with 75,000 people, its own grocery stores, movie theatres, and swimming pools. Now imagine that city was invisible. No road signs pointed to it. No state map showed it. If you asked a local where it was, they legally couldn’t tell you, because most of them didn’t fully know either. This isn’t…
For families with ancestral property, investments or a family business, a Hindu Undivided Family (HUF) can offer a separate pool of income and a separate tax return, making it useful for tax planning. But for salaried taxpayers looking to move a part of their salary into an HUF to reduce tax outgo, the structure has…
I’m a salaried individual but also had some freelance income in FY25-26. Should I opt for presumptive taxation and file ITR-4? My freelance income is small at about ₹1 lakh so I’m eligible for it. I don’t have any expenses to claim except phone, wifi bills etc, but I don’t want the hassle of claiming…